Keppel offloads i12 Katong mall for $372m amidst non-core asset purge

The site is a five-storey building with a net lettable area of 211,950 square feet.

Keppel Ltd has divested its retail mall, i12 Katong, to Altallo Holdings Pte. Ltd. for $372m, as part of its monetisation plan for non-core assets, according to a press release.

Under the agreement, Keppel is divesting 100% of its shares in PRE 1 Investments Pte. Ltd., which holds the property indirectly through Katong Retail Trust (KRT).

Altallo will pay in three tranches, comprising $30,000 as consideration for the sale of shares (“i12 Shares Consideration”), and the remaining amount for repayment of a loan extended to KRT by another Keppel subsidiary.

The site is a five-storey building with a net lettable area of 211,950 square feet. As of the end of January 2026, it had a committed occupancy of about 96%.