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CCT sells half-stake in Raffles Place office block for S$591.6m
Divestment in One George Street will yield a net gain of S$79.7m; analysts sanguine about move
Add BT as a preferred sourcePublished Tue, May 2, 2017 · 09:50 PM
Singapore
CAPITALAND Commercial Trust (CCT) is selling a 50 per cent stake in One George Street to FWD Group, an insurance company backed by Hong Kong billionaire Richard Li, for S$591.6 million.
The divestment of interest in the 23-storey office building in Raffles Place will translate to a gain of S$84.6 million for CCT, or a net gain of S$79.7 million after factoring in transaction and related costs.
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