Straits Trading unit to buy Chongqing development

Singapore

A SUBSIDIARY of The Straits Trading Company is proposing to acquire a retail development known as Times Midtown in Chongqing, China, for about 668.4 million yuan (S$141.65 million).

Straits Real Estate (SRE), through its wholly-owned subsidiary Chongqing Xinchuang Mall Management, on Tuesday entered into nine conditional sale and purchase agreements with Chongqing BBMG Dacheng Shanshui Properties to acquire the property.