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CapitaLand, related entities to sell Westgate Tower for $579 million

Published on Jan 3, 2014 7:03 PM
 
A consortium including construction group Low Keng Huat has been granted options to purchase Westgate Tower for $579.4 million from CapitaLand, CapitaMall Trust and CapitaMalls Asia. -- FILE PHOTO: THE BUSINESS TIMES

THE property market is ringing in the new year in style - with a half a billion dollar investment deal.

A consortium including construction group Low Keng Huat has been granted options to purchase Westgate Tower for $579.4 million from CapitaLand, CapitaMall Trust and CapitaMalls Asia.

The consortium has up to Jan 24 to exercise the options.

Located in Jurong Gateway, Westgate Tower is the office component of the Westgate integrated development, which also comprises the Westgate shopping mall.

 
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