Perennial sells remaining 30% stake in 111 Somerset to Stanley Ho's Shun Tak for S$155m
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Singapore
PERENNIAL Real Estate Holdings is divesting its entire 30 per cent stake in 111 Somerset, known locally as TripleOne Somerset, to gambling mogul Stanley Ho's Shun Tak Holdings for S$155.1 million in cash.
111 Somerset is a prime integrated development, comprising two premium-grade office towers and a retail podium. It is located in the Orchard Road precinct and next to Somerset MRT station, and is also near the affluent Devonshire and River Valley residential areas.
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