SINGAPORE (Dec 18): United Overseas Insurance (UOI) is acquiring an office property located at 146 Robinson Road from United Overseas Bank (UOB) for $52 million, the group reported on Wednesday. 

The property is a 12-storey office building with a gross floor area (GFA) of 4,631.49 sqm, and has a leasehold estate of 99 years from June 3 1992. 

UOI, which is the insurance arm of UOB, will be satisfying the total consideration in cash from internal sources. A $2.6 million deposit was paid to UOB upon signing of the agreement on Wednesday. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook