112 Katong mall expecting to fetch $500M

Keppel Group has put 112 Katong, a mall in Katong/Joo Chiat area, up for sale, expecting offers around $500M. The mall, which is on a site balance of 61 years, has NLA of 207,160 sqft of retail space, plus 300 plus car park lots in the basement. The mall was first put in the market in April, with an asking price of $559M. The occupancy rate is 84%, with some units left vacant for possible refurbishment.

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