HK's Far East Consortium inks deal to sell 21 Anderson for S$213m

Singapore

HONGKONG-LISTED Far East Consortium International Limited (FEC) announced on Friday night that it has entered into a sale and purchase agreement to sell 21 Anderson, a 10-storey freehold condominium block of 34 units, for S$213 million.

The buyer is a unit of Kheng Leong Group, the private real estate arm of the family of veteran banker and UOB chairman emeritus Wee Cho Yaw.

FEC's stock exchange filing confirms The Business Times story published last Thursday.

The price works out to S$2,490 per square foot based on the strata area of 85,552 sq ft for the prime district 10 property. The units in the developm…

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