Perennial and SPH raise stakes in Chinatown mall

Singapore

PERENNIAL Real Estate Holdings and Singapore Press Holdings (SPH) have bought an additional 60 per cent of a partnership holding Chinatown Point mall and four strata office units above it for a cash consideration of S$92.6 million.

Perennial's effective stake in the partnership rose from 5.15 per cent to 45.15 per cent. SPH's stake rose from 7.35 per cent to 27.35 per cent.