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Chip Eng Seng terminates sale contracts with purchasers of units in JV's proposed mixed-use development in Australia

Felicia Tan
Felicia Tan7/21/2022 08:07 AM GMT+08  • 3 min read
Chip Eng Seng terminates sale contracts with purchasers of units in JV's proposed mixed-use development in Australia
The decision to terminate the project came as project financing costs had risen “significantly” from Covid and the Russo-Ukrainian war.
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Chip Eng Seng, through its 70%-held subsidiary in Australia, CES Sirona Lyall (WA), will begin the termination of the sale contracts that were entered into with the purchasers of units in 28 Lyall South Perth.

28 Lyall South Perth is a proposed mixed-use development in South Perth, Western Australia.

CES Sirona Lyall (WA) is the joint venture company (JVCo) set up between Chip Eng Seng and Sirona Lyall Street.

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