CapitaLand, CapitaMalls Asia, CapitaMall Trust sign option to sell Westgate Tower

CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an option to sell Westgate Tower for S$579.4 million.

In a filing with the Singapore Exchange, CapitaLand said the option was granted to a consortium comprising Sun Venture Homes and Low Keng Huat (Singapore), which has up to January 24 to exercise it.

Located at Jurong Gateway, Westgate Tower is the office component of the Westgate integrated development which also includes a shopping mall.

The 20-storey prime office tower has a net saleable area of 304,963 square feet, and is targeted to be completed in late 2014.

Source : Channel NewsAsia – 3 Jan 2014

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