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Oxley selling Stevens Rd hotels for close to S$1b

Fri, Jan 11, 2019 – 5:50 AM

Singapore

PROPERTY developer Oxley Holdings has accepted a letter of intent (LOI) for the purchase of its Mercure and Novotel hotels along Stevens Road for S$ 950 million, in what market watchers call an urgent attempt by the developer to pare its debt.

The Business Times understands that the buyer is Indonesian magnate Tahir.

In a late announcement on Thursday, Oxley said the LOI i…
The Business Times

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