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CapitaLand offloads The Nassim

S$411.6m sale of the development company and 45 unsold units to private firm Kheng Leong was to avoid paying extension charges, it says

CapitaLand admitted that the agreed property value, at S$2,300 psf on the strata area, represented a bulk discount of about 18 per cent from the current individual unit sale price of the 45 units.


CAPITALAND on Monday said it has sold its 100 per cent stake in Nassim Hill Realty (NHR) to an unrelated private company, Kheng Leong, for S$411.6 million.

Included in the sale are also 45 unsold units in The Nassim, a luxury freehold boutique condominium project in...

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