Commercial Property

The bourse filing showed that the closing date of the offer is on 2 February.

This is despite a 46% revenue growth. 

The FSTREI declined 16% year-to-date.

Last year, the Lion City ranked third.

The investment market may remain in “price discovery mode” in the first half of 2023.

The 999-year leasehold has a total land area of 1,722.5 sqm.

This recovery will be led by the shopping belt on Orchard Road. 

In Q4, the Lion City saw a 5.5% YoY increase in rental rates.

The sale translates to $3,000 per square foot.

The reserve price for the property is $390m.

The sale will be via a private treaty.

The rising demand pushed average rates up by 4%.

The occupancy rate was also “healthy” at 95.5%.

It named a new CEO for Frasers Hospitality amongst others.

Workthere said smaller brands will likely be acquired by large operators as competition in the market intensifies.

The building has a total lettable area of 886,703 sq ft.