112 Katong owners evaluating offers; mall expected to fetch S$500m

Singapore

KEPPEL Group has put 112 Katong, a mall at the junction of East Coast Road and Joo Chiat Road, on the market. The property is expected to fetch around S$500 million.

The Business Times understands that a private expressions of interest exercise is being conducted for the sale by property consulting groups CBRE and JLL on behalf of the mall's owners Alpha Asia Macro Trends Fund (AAMTF) and Keppel Land.

The initial closing for the EOI was last month, followed by a subsequent closing earlier this month. The owners are said to be evaluating the "handful of offers" from local and overseas parties that were submitted for the second …