FIVE office floors in Suntec Tower One are changing hands for a total sum of S$129.3 million, which works out to S$2,400 per square foot on strata area of 53,863 sq ft, based on caveats data. The five floors - Levels 24, 25, 34, 35 and 36 - are being sold by BASF South East Asia, a part of German chemicals giant BASF, which currently occupies the space. The floors are being bought by companies which...
Suntec Singapore
The City Harvest Church (CHC) has raised its shareholding in Suntec Singapore International Convention and Exhibition Centre to 39.2 per cent. Executive pastor Aries Zulkarnain made the announcement at a service on Saturday. In 2010, the church, through its wholly-owned subsidiary, Urban Property Investments Limited acquired 20 per cent effective shareholding for an aggregate purchase price of S$43.75...
CITY Harvest Church has taken a new round of flak over its Suntec deal. The megachurch disclosed during its weekend Easter services that it received a lawyer's letter last Thursday from its fellow investors in the consortium holding a majority stake in Suntec Singapore, reminding it to keep to a non-disclosure agreement in the deal. The church, which recently invested in the consortium, said some...
CITY Harvest Church (CHC) yesterday gave its first detailed comments about its $310 million stake in Suntec Singapore, two weeks after announcing that it had become a 'co-owner'. The statement, in response to The Straits Times' queries, said its shares in the downtown commercial property were not held by the church itself, but by a separate 'special-purpose investment holding company' it wholly...
City Harvest Church said its management board is in discussion with the relevant parties and a statement will be issued shortly regarding its S$310 million stake in Suntec Singapore. The church was recently asked by the Commissioner of Charities about this business venture. City Harvest did not create a separate business entity for the purchase. There are concerns regarding this arrangement because the...
THE Commissioner of Charities has questioned City Harvest Church (CHC) about its $310 million stake in Suntec Singapore. The 33,000-strong megachurch announced two weeks ago that it had become a co-owner of the downtown commercial property, which houses a convention and exhibition centre. The complex's full name is Suntec Singapore International Convention and Exhibition Centre. The money spent includes...