Keppel REIT selling Bugis Junction Towers for $547.5 mil

By Stanislaus Jude Chan / The Edge Singapore | October 1, 2019 1:41 PM SGT
SINGAPORE (Oct 1): Keppel REIT is divesting its strata ownership of Bugis Junction Towers, which it has held since its listing in 2006, for a sale price of $547.5 million.
Based on the building’s net lettable area (NLA), this translates to a price of $2,200 per square foot.
The sale price is 6.3% above the latest valuation of $515.0 million as at Aug 8, and 243.2% above the purchase price of $159.5 million in 2006.
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