DFI sells Jelita Shopping Centre for S$91.68 million to former precision engineering entrepreneur
Deal entails long leaseback of ground level to ensure DFI’s continued supermarket operations
DFI RETAIL Group (DFI) has sold Jelita Shopping Centre for S$91.68 million to a low-profile property investor, Peter Koh Pang An, and his wife. The couple are Singapore citizens.
A rags-to-riches entrepreneur who used to be active in the Singapore precision engineering scene, Koh owns Platinum 28, a freehold industrial building at 28 Genting Lane, which he acquired from Ho Bee in 2011. He also owns suburban malls in Australia and New Zealand.
The transacted price for the 999-year leasehold Jelita Shopping Centre, at the corner of Holland Road and Jalan Jelita, is higher than the S$85 million guide price JLL went to the market with in June.
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