EL Development buys Singtel's Hill Street property
Price works out to S$1,830 psf ppr; provisional go-ahead given for hotel to be built on the site
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Kalpana Rashiwala
Singapore
SINGTEL is selling its Hill Street property - for which planning approval has been granted for redevelopment into a hotel - to homegrown-property group EL Development.
The price is between S$115 million and S$120 million, which works out to about S$1,830 per square foot per plot ratio, The Business Times understands.
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