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Ngee Ann Development loses appeal in Takashimaya rent case
Published Mon, Jul 10, 2017 · 09:50 PM
Singapore
LANDLORD Ngee Ann Development (NAD), which had earlier lost its rent calculation dispute with department store Takashimaya, has lost its appeal.
NAD had sued Takashimaya - the anchor tenant at Ngee Ann City on Orchard Road since 1993 - after both sides reached an impasse on the meaning of "prevailing market rental value" in the lease agreement.
Takashimaya leases about 56,000 square metres of space at Ng…
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