Standard Chartered to sell and lease back two Changi Business Park properties for S$183 million
Lender says move is part of strategy to drive further growth in Singapore, its second-largest market
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[SINGAPORE] Standard Chartered has inked two deals to sell and lease back its two office properties at Changi Business Park for a combined S$183 million.
Both buildings have been occupied by StanChart since the 2010s, and the bank has signed a long-term leaseback contract for the space.
“The bank continuously evaluates all options to maximise the value and effectiveness of its real estate portfolio in support of our strategy,” said the bank’s spokesperson on Wednesday (Mar 25), in response to queries from The Business Times.
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