(July 30): A joint venture between Malaysia sovereign wealth fund Khazanah and Singapore state investor Temasek is selling the office and retail units of its DUO property development in Singapore, it said late on Monday.

The joint venture named M+S will sell all the shares of its wholly owned subsidiary, Ophir-Rochor Commercial, worth $1.575 billion to Allianz Real Estate and private equity firm Gaw Capital Partners.

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