January 3, 2014 / 11:37 AM / in 4 years

CapitaLand agrees options to sell S$579 mln Singapore office tower

SINGAPORE, Jan 3 (Reuters) - Southeast Asia’s largest property developer CapitaLand has granted a consortium of property rivals options to buy the Westgate Tower in Singapore for S$579.4 million ($457.32 million)

The consortium comprising Low Keng Huat (Singapore) and Sun Venture Homes has options to buy floors 6-16 and 17-25 of the office tower being constructed on top of a shopping mall in Jurong, southwest Singapore, CapitaLand said on Friday.

CapitaLand and its associated listed entities CapitaMalls Asia and CapitaMall Trust said that the consortium has until Jan. 24 to exercise the options.

Westgate Tower is due to be completed by the end of 2014. ($1 = 1.2670 Singapore dollars) (Reporting by Rachel Armstrong; Editing by David Goodman)

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