Chip Eng Seng exits Tower Melbourne project with A$55m sale
Some 556 sales contracts with buyers have been cancelled and full deposit of 10 per cent of purchase price with interest have been made
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Singapore
CHIP Eng Seng Corporation is exiting from Australian redevelopment project Tower Melbourne, now that it has found a buyer willing to pay A$55 million (S$56 million) for the site.
The group said on Thursday that it has entered into an agreement with the purchaser, who is not related to the company or its controlling shareholders.
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