Apricot Capital

CapitaLand Mall Trust sells Sembawang Shopping Centre for $248 mil

SINGAPORE (Apr 19): CapitaLand Mall Trust (CMT) has agreed to sell Sembawang Shopping Centre to a joint venture between Lian Beng Group and Apricot Capital for $248 million.

Sembawang Shopping Centre was valued at $126.0 million as at Dec 31 2017. The divestment is expected to generate net proceeds of about $245.6 million and a net gain of about $119.6 million when the transaction is completed by June 2018.

Oxley-led JV to buy former Serangoon North HUDC estate for $499 mil

SINGAPORE (July 26): Oxley Serangoon, a joint venture company led by Oxley Holdings, announced Wednesday that its bid for the purchase of Serangoon Ville at a price of $499 million has been accepted by the owners of the property.

Spanning some 27,584 sqm at Serangoon North Avenue 1, the Serangoon Ville property is a former HUDC estate which has been privatised.

Oxley Serangoon says it intends to apply for the grant of a fresh lease of at least 99 years for the land, and redevelop the property.

Oxley-Lian Beng-KSH consortium wins Rio Casa tender at $575 mil

SINGAPORE (May 25): A consortium led by Oxley, Lian Beng and KSH has won the tender for the collective purchase of the property known as Rio Casa for $575 million. The tender was submitted by Oxley-Lian Beng Venture on Wednesday and has been duly accepted by the owners of the property located at Hougang Avenue 7.

Oxley-Lian Beng Venture is 35% owed by Oxley, 35% owned by KSH, 20% owned by Lian Beng and 10% owned by Apricot Capital. The property is a former HUDC estate which has been privatised. The site area is 36,811.1 sqm.

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