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Singapore's Ascott to divest property for 43.9 mln sgd


Published : Mon, 15 Oct 2007 12:17
By : Agencies
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SINGAPORE (Thomson Financial) - The Ascott Group, the serviced apartments arm of key Singapore property developer CapitaLand, said it will divest a 32-unit apartment in Singapore for 43.9 million Singapore dollars.

The sale should be completed by end-January 2008.

The company said it intends to use the sale proceeds to buy better-yielding properties.

(1 US dollar = 1.46 Singapore dollars)

pearl.bantillo@thomson.com

jb/zr

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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