18 Sep '16, 9am

Indonesian tycoon Tahir buys $45m commercial property

Many commercial property transactions have taken place recently. These include a OCBC-owned 12-storey freehold office block at 110 Robinson Road , bought by Indonesian tycoon Tahir. The sale will be completed in three months, said a spokeswoman for the bank. The price is understood to be S$45.1 million or nearly S$3,169 per square foot based on the net lettable area of 14,233 sq ft. The property is between Finexis Building at 108 Robinson Road and Robinson 112. Mr Tahir was the highest bidder. Cushman & Wakefield conducted the tender for OCBC. "The tender, which closed on July 26, drew a handful of bids," said Shaun Poh, executive director of capital markets at C&W. While most would not consider the S$3,169 psf that Mr Tahir is paying for 110 Robinson Road, Michelle Lek of Quillion Global, who acted for Mr Tahir in the transaction, said the property was a "rare opportunity...

Full article: http://www.srx.com.sg/singapore-property-news/23862/indon...

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