Mercatus buys Guthrie-Lee Kim Tah stake in Jurong Point
Price of S$2.2 billion works out to S$3,343 psf on commercial NLA; deal reflects about 4.2% net yield
Add BT as a preferred source
Singapore
JURONG Point has been transacted at S$2.2 billion, with a sale and purchase agreement signed on Thursday. This is the biggest property investment sales deal so far this year.
Buyer Mercatus Co-operative, an NTUC social enterprise, is paying S$3,343 per square foot based on the 658,000 square feet of commercial net lettable area (NLA) in the mall that has been sold by an equal joint-venture between Lee Kim Tah Holdings and Guthrie GTS. The two companies were delisted a few years ago.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Strengthening Asean’s economic resilience through RCEP’s 2027 review
How China’s young workers are securing their future even as AI disrupts job market, triggers pay cuts
US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk
