Real News‎ > ‎2012‎ > ‎September 2012‎ > ‎

20 September 2012

20th September, Thursday


Investment Sales


Mandarin Orchard, Gallery attract buyer

Source: The Straits Times

Overseas Union Enterprise, the Lippo Group's Singapore property arm, has been approached by a potential buyer to purchase an Orchard Road hotel and mall, valued at $1.7 billion.

OUE has offered a potential buyer exclusivity to conduct preliminary due diligence on Mandarin Orchard Singapore, the 1,051-room hotel, and Mandarin Gallery, the company said in a statement to the Singapore Exchange.

The two properties were valued at $1.7 billion last year, according to the company's annual report.

OUE added that "no firm decision has been taken and no definitive agreement has been entered".


Links to the story: