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DBS sells PwC Building for $358 mil

PC Lee Published on Fri, Feb 10, 2017 / 5:44 PM GMT+8

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SINGAPORE (Feb 10): DBS Group Holdings’ wholly-owned subsidiary, DBS Bank, has agreed to sell its entire stake in DBS China Square for $358 million in cash.

DBS China Square owns a 28-storey office building at 8 Cross Street, known as PwC Building. The building was constructed by DBS China Square in 1999, and is held for investment purpose.

The buyer is an indirect subsidiary of Manulife Financial Corporation.

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