The Business Times
business-time-50

Ascott Residence Trust to sell Guangzhou, Paris properties above book value

Fiona Lam

Fiona Lam

Published Mon, Jul 27, 2020 · 09:50 PM

    Singapore

    ASCOTT Residence Trust (ART) has entered into conditional agreements to sell Ascott Guangzhou in China and Citadines Didot Montparnasse Paris in France to two unrelated parties for S$191.4 million.

    ART expects to realise total estimated net gains of S$23.2 million when both transactions are completed: S$19.4 million from the Guangzhou deal and S$3.8 million from the Paris deal, its managers said on Monday.

    TRENDING NOW

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Khoo Kah Siang, who helmed Manulife Asia’s emerging markets division, will assume his new position on Jan 23, 2027

    Income Insurance appoints former Manulife Singapore top man as new CEO

    The government is reviewing civil servants’ property purchase transactions to address assertions made in a recently published research paper.

    Incidence of civil servants buying property near unannounced MRT stations ‘a concern’, but may not establish misconduct: PSD

    The Supreme Court has made bankruptcy orders against Lau Lee Sheng, Shen Xuhuai and Guo Yujia.

    Three ex-employees of Envy group join Ng Yu Zhi in bankruptcy

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More