page contents

Ascott Reit sells Raffles Place property for S$134m net gain

Thu, Jan 10, 2019 – 5:50 AM


PRIVATE investor Cheong Sim Lam, whose family developed International Plaza and the Hyatt Regency Singapore, snapped up Ascott Reit’s serviced apartment building Ascott Raffles Place Singapore for S$ 353.3 million.

The sale price is some 64.3 per cent above the property’s latest valuation of S$ 215 million as at Dec 31 2018. After accounting for transaction related ex…
The Business Times

Leave a Reply

Your email address will not be published. Required fields are marked *


This site uses Akismet to reduce spam. Learn how your comment data is processed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.