Cuscaden Peak Investments and JV Partner Complete Sale of The Seletar Mall [Yahoo! Finance]
KEPPEL CORP LTD S/ADR (KPELY)
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Source: Yahoo! Finance
Divestment allows Cuscaden Peak Investments Pte Ltd ("Cuscaden") and its JV partner to realise the value of The Seletar Mall ("TSM") as part of their active capital recycling strategy to enhance shareholder returns. SINGAPORE March 7, 2024 /PRNewswire/ -- Cuscaden and its JV partner are pleased to announce the successful completion of the sale of TSM to an unrelated 3 rd party based on an agreed property value of S$550 million which translates to approximately S$2,900 per square foot of net lettable area. This was negotiated on an arms-length, willing-buyer and willing-seller basis between the purchaser and vendors. Built in 2014, TSM is a well-established and fully-tenanted suburban mall primarily serving the growing residential communities in North- Eastern Singapore . It provides a diverse and comprehensive mix of carefully curated retail amenities spread across six levels of approximately 190,000 square feet of net lettable area. Directly connected to TSM, the Fernvale Light
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