CDL will be a key beneficiary in the collective sale of Tanglin Shopping Centre
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WILL the ongoing collective sale tender of Tanglin Shopping Centre present City Developments (CDL) with an opportunity to exit the ageing office, retail and car parking complex at a nice gain?
Or would CDL want to take full control of the freehold asset just off Orchard Road?
The mainboard-listed group, through an indirect fully-owned subsidiary of its privatised hotel arm Millennium & Copthorne Hotels, owns nearly 35 per cent of the share value and about 60 per cent of the strata area in Tanglin Shopping Centre.
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