SINGAPORE-BASED property group JBE is understood to have inked a deal to buy one of the three bundles of commercial properties in Housing and Development Board (HDB) estates that NTUC Enterprise unit Mercatus put on the market a few months ago.

The pricing is in the low-S$80 million range, The Business Times understands.

Word in the market is that Evia Real Estate is in exclusive due diligence with a view to acquiring the other two bundles from Mercatus. It is said to be looking at a price slightly north of S$175 million.