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Hiap Hoe acquires Orchard Towers shops and offices for $162 mil

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Hiap Hoe acquires Orchard Towers shops and offices for $162 mil

Samantha Chiew Published on Fri, Nov 03, 2017 / 7:04 PM GMT+8

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SINGAPORE (Nov 3): Hiap Hoe is acquiring 21 shops and 38 offices at Orchard Towers.

The property group said it had entered into a sale and purchase agreement to acquire a 100% stake in Golden Bay Realty from AFP Land -- a wholly-owned subsidiary of Sinarmas Land -- for $162 million.

Golden Bay Realty is in the business of property investment holdings. It is the proprietor of 59 strata lots in Orchard Towers.