01 Jul '11, 11am

JTC divests two tranches of its properties as part of divestment exercise: CEO of JTC, Manohar Khiatani, said th...

SINGAPORE: JTC Corporation (JTC) on Friday said that it will be divesting two tranches of its properties totalling S$688.63 million to Soilbuild Group Holdings and Mapletree Industrial Trust as part of the second phase of its divestment exercise. These comprise over 300,000 square metres of property space in total. The first tranche, made up of ten blocks of flatted factories and amenity centres, will be awarded to Soilbuild Group for S$288.33 million. Meanwhile, the second tranche, comprising 11 blocks of flatted factories and amenity centres, will be awarded to Mapletree Industrial Trust for S$400.3 million. Soilbuild Group Holdings is a homegrown integrated property developer, while Mapletree Industrial Trust is another homegrown real estate investment trust with a portfolio of industrial properties. CEO of JTC, Manohar Khiatani, said the aim of JTC's divestment exercis...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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