CityDev (C09.SG) +0.5% at almost 9 weeks high of $12.82, supported by news of developer’s plan to sell 21-storey freehold Singapore office building for $215 million, says Dow Jones.

Privately-held Oxley Consortium has received offer to buy The Corporate Office, located at Singapore’s central business district.

Move marks CityDev’s latest divestment of its non-core assets, with recent sales, both finalised and proposed, including Singapore’s Chinatown Point, Tanglin Shopping Centre, plus site in Kuala Lumpur.

Credit Suisse, which has Outperform call with $13.18 target, notes Corporate Office’s sale price, which comes to $1,956 psf, nearly double house’s estimate, “very attractive” for small old office building; “this is also testament to CDL management’s openness to monetising its non-core assets.”

Resistance expected at 52-week high of $12.94.