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CDL to take 20% stake in 163-unit Tokyo residence

Total gross development value of Park Court Aoyama The Tower is around S$668 million

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Published Tue, Oct 18, 2016 · 09:50 PM

    Singapore

    CITY Developments Limited (CDL) plans to buy a 20 per cent stake in a 163-apartment development in the Aoyama area of Tokyo for an undisclosed amount, the company announced on Tuesday.

    The exact price that CDL will pay to developer Mitsui Fudosan Residential Co has not been disclosed due to a confidentiality agreement, said CDL, a property developer. But the project, called Park Court Aoyama The Tower, has a total gross development value of more than 50 billion yen (approximately S$668 million).

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