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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Golden Shoe Car Park redevelopment to boost CCT's income

The property is expected to be finished by 2021.

UOB reported that the redevelopment of Golden Shoe Carpark (GSCP) is expected to provide an additional income pipeline for Capitaland Commercial Trust (CCT) when completed in the first half of 2021. 

With a 45% stake in GSCP, CCT has the option to acquire the balance 55% interest not owned within five years from building’s completion.

GSCP has already completed demolition, and is already preparing for ground breaking by February this year.

Singapore Business Review previously reported that CCT’s divestment of GSCP was one of the reasons why its profits dipped in 4Q2017.

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