Capitamall Trust says buys Singapore property for S$295 mln

SINGAPORE Sun Feb 27, 2011 6:40pm EST

SINGAPORE Feb 28 (Reuters) - Singapore's CapitaMall Trust Management said on Monday it has entered an agreement to buy a shopping mall in the city-state, Iluma, for S$295 million ($231 million).

"Iluma is a new shopping mall in Singapore located at Victoria Street opposite the popular Bugis Junction, one of CMT's existing properties. The mall has a net lettable area of 185,190 square feet," CapitaMall Trust said in a statement.

CapitaMall is part of Singapore's CapitaLand, Southeast Asia's largest property firm.

($1 = 1.277 Singapore Dollars)

(Reporting by Harry Suhartono)