Automobile association pays $43m for East Coast building

Price translates to 4.5% gross yield; purchase said to be for investment

[SINGAPORE] The Automobile Association of Singapore (AAS) is buying a five-storey commercial building at the corner of East Coast Road and Chapel Close for $43 million.

The association is understood to be buying the freehold building, named Tides, as an investment property. The building is fully leased...

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