SINGAPORE (Mar 13): CIMB views Perennial Real Estate's purchase of the remaining 50% stake in The Capitol Singapore from Chesham Properties as a big positive.
This "signals the resolution of the deadlock on the project and progress can now be made to unlock value and returns from this iconic development," says CIMB analyst Lock Mun Yee in a Monday report.
Perennial Real Estate announced it will purchase the remaining 50% stake in The Capitol Singapore from Chesham Properties for $129.6 million, based on a property value of $1.028 billion, 2.6% above the Dec 17 valuation.
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