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S'pore CCT to buy CapitaLand office bldg for $844mln

SINGAPORE
Thu Mar 27, 2008 3:01am EDT

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SINGAPORE (Reuters) - Southeast Asia's largest developer CapitaLand (CATL.SI) said on Thursday that it has granted CapitaCommercial Trust (CCT) (CACT.SI) an option to buy the 1 George Street office building for S$1.165 billion ($844.2 million).

CapitaLand, which owns a 30-percent stake in CCT, a Singapore-listed office property trust, said in a statement that it expects to recognise a S$47.1 million gain from the sale. (Reporting by Daryl Loo; Editing by Michael Urquhart)


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