SINGAPORE (Oct 19): Religare Capital Markets on Wednesday says the proposed redevelopment of Golden Shoe Car Park will be “positive” for CapitaLand Commercial Trust.

“Amidst undersupply situation over next few years in CBD, we believe [the] 2021 completion would bode well for CCT and this building,” says Religare’s Tata Goeyardi in a sales commentary.

CCT on Wednesday announced it is seeking rezoning approvals to redevelop Golden Shoe Car Park, whose land lease expires on Jan 31, 2081, into a commercial development including a Grade A office tower.

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