Keppel Land purchase 112 Katong stake just for $51. 4m

Keppel Get has obtained a stake for 112 Katong shopping mall.

Keppel Corp talked about in a fact published to the Singapore Exchange website yesterday evening that Keppel Land paid back $51. 3 million just for the 23. 4 percent stake right from BHG Comit�, Perennial Singapore Investment Comit� and Consider Properties, one of BreadTalk Group.

The 77. half a dozen per cent share in the supermarket is used by Opening move Asia Macro Trends Money (AAMTF), which can be managed by just Alpha Expenditure of money Partners, real estate fund direction vehicle of Keppel Get.

“The expenditure of money in 112 Katong is going to add to this quality accounts of retail and mixed-use properties, lunch break said Keppel Land leader Ang Tiny Gee on the statement.

“We will are dedicated to strengthening the mall’s the positioning of as a standard of living and eating dinner destination on the east, wedding catering to clients who are seeking for unique knowledge. ”

The firm will hire Keppel Get Retail Direction to manage the exact property.

The department manager has established a very good track record on the development and management near 3 million dollars sq legs of retail space throughout the years, said Keppel Corp.

The properties involve Jurong Factor shopping middle of the town, Heartland Supermarket, Century Pillow, Tampines An individual, Hougang Supermarket, Tiong Bahru Plaza, White wine Sands, Liang Court and Taimall for Taiwan.

112 Katong can be described as six-storey local mall at the penetration of East Coast Way and Joo Chiat Way.

The supermarket – carried out November 2011 – incorporates a net lettable area of regarding 207, 000 sq legs.

Major potential renters include Katong Market Place, Older Village, Nutrition Republic and a number of favorite restaurants.

The transaction is certainly not is actually have any sort of material relation to the net concreto assets or simply earnings every share of Keppel Corp for our present-day financial calendar year, the company talked about.