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

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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.

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