Neptune Orient Lines has sold its head office, the NOL Building at 456 Alexandra Road, to the Fragrance Group for S$380 million. It is the largest sale of a decentralised single commercial asset in Singapore this year, said Jones Lang LaSalle which brokered the sale to Fragrance Regal Pte Ltd. NOL said in a statement to Singapore Exchange the divestment will enable it to "release capital for strategic...
nol building
NOL Group is selling its Alexandra headquarters premises to raise funds. The shipping and logistics leader has been reporting losses for the past five financial quarters. According to a media statement released on Monday, NOL said the sale will help the company "release capital for strategic investment". NOL Building is located at 456 Alexandra Road. It sits on a 108,060-square-foot site, with a gross...