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Tuan Sing paying S$365m for Sime Darby Centre

It trumps contenders with its S$1,800 psf bid

Published Mon, Apr 10, 2017 · 09:50 PM

Singapore

PROPERTY developer Tuan Sing Holdings is acquiring Sime Darby Centre in Bukit Timah for S$365 million from US private equity Blackstone Group and Malaysian palm oil producer Sime Darby Bhd, which translates to about S$1,800 per square foot (psf) on net lettable area.

The property was said to be hotly contested by more than 10 bidders.

Blackstone Group had bought a 70 per cent stake in Sime Darb…