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CDL monetises Nouvel for $977.6 mil via profit participation securities

Benjamin Cher Published on Fri, Oct 21, 2016 / 8:49 AM GMT+8

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SINGAPORE (Oct 21): City Developments Limited (CDL) announced that it has agreed to exit Summervale Properties, which own Nouvel 18, a freehold residential development on Anderson Road, through its third profit participation securities (PPS).

(See also: CityDev to launch PPS scheme for Nouvel 18)

(See also: How some Sentosa Cove property investors escaped paying stamp duty)

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