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Far East Shopping Centre back on market at unchanged S$928 million asking price

This follows Glory Property Developments pulling out of an earlier deal to acquire building

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Jessie Lim

Jessie Lim

Published Fri, Apr 19, 2024 · 05:18 PM
    • The tender for Far East Shopping Centre closes at 3pm on May 2.
    • The tender for Far East Shopping Centre closes at 3pm on May 2. PHOTO: BLOOMBERG

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    FAR East Shopping Centre has been put back on the market, in a fresh tender pitched at the same guide price of S$928 million. 

    This comes after Glory Property Developments, a company linked to Chinese businessman Du Shuanghua’s Bright Ruby Resources, pulled out of a deal announced in September 2023 to acquire the building. 

    If it had not fallen through, the deal, said to be struck at around S$910 million, would have been the largest collective sale of 2023. 

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