GSH Corporation-led group buys Equity Plaza for $550m

KEPPEL Land and its fund management arm Alpha Investment Partners have entered into an agreement to sell Equity Plaza in Raffles Place for $550 million, or $2,181 per square foot of net lettable area, to a consortium company 51 per cent owned by Sam Goi-controlled GSH Corporation.

Other members of the consortium company, Plaza Ventures, are Vibrant DB2, owning a 35 per cent stake, and Mr Goi's private investment vehicle TYJ Group, with a 14 per cent stake.

Vibrant DB2 is a 51:49 joint venture between listed Vibrant Group, formerly known as Freight Links Express, and niche property developer DB2 Properties.