Thai Conglomerate Sells Iconic Orchard Road Residential Block in Singapore
Executive Summary
Key insights and market outlook
Frasers Property, controlled by Thai conglomerate Charoen Sirivadhanabhakdi, is divesting its residential block at The Centrepoint in Singapore's Orchard Road for SGD 418 million (approximately USD 326 million). The sale includes 66 residential units and 66 retail units, with a valuation of around SGD 2,709 per square foot. The transaction encompasses the entire residential portion and about one-third of the retail units in the complex.
Deep Dive Analysis
Thai Conglomerate Divests Iconic Singapore Property
Strategic Disposal in Prime Location
Frasers Property, a subsidiary of Thai conglomerate Charoen Sirivadhanabhakdi's business empire, has announced the sale of its prestigious residential block at The Centrepoint on Orchard Road, Singapore. The transaction is valued at SGD 418 million, approximately USD 326 million.
Asset Details and Valuation
The divested assets include 66 residential units and 66 retail units, with the entire residential component and about one-third of the retail space being part of the deal. The property has been valued at SGD 2,709 per square foot, reflecting its prime location and market demand.
Market Implications
This significant disposal by Frasers Property indicates a strategic business decision, potentially redirecting resources to other investment opportunities within the group's portfolio. The transaction highlights the ongoing activity in Singapore's commercial and residential property market, particularly in prime locations like Orchard Road.
Source References
Story Info
Topics Covered
Key Events
Penjualan Properti SGD 418 Juta
Divestasi Aset The Centrepoint