Perennial leads consortium to acquire AXA Tower for S$1.17b
Singapore
PERENNIAL Real Estate Holdings Limited (PREH) has syndicated a consortium of investors to acquire AXA Tower at a property purchase price of S$1.17 billion, translating to S$1,735 per square foot (psf) of net lettable area.
PREH's 31.2 per cent equity investment in the property amounts to about S$117.9 million. Its major shareholder Kuok Khoon Hong, a Singapore business tycoon who is also Wilmar International's chairman and CEO, will take up another 10.1 per cent interest in AXA Tower.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race