Isetan to sell Killiney property for $10 mil

SINGAPORE (June 15): Isetan (Singapore) on Wednesday announced the proposed disposal of Tai Wah Building at 112 Killiney Road to Soon Li Heng Civil Engineering for $10 million, exclusive of goods and services tax.

Isetan said the Group only holds 4,316 sq ft freehold property to earn rental income, and that it is not material to its business.

“The Directors consider it an appropriate time to dispose of and unlock the value of the property, given the current outlook of the property market in Singapore,” Isetan said.

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