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Singapore Portfolio Fetches Half A Billion Dollars

Far Eastern REIT Sun Tec will buy a dozen office and retail properties in Singapore for roughly $593 billion (US). Local multi-billionaire Li Ka-shing owns the Hong Kong-based REIT. Singapore property firm City Development Ltd. sold 11 of the properties to Sun Tec. The 12th property—a retail mall on the outskirts of Singapore’s central shopping artery—was sold by Wing Tai Holdings.

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