GuocoLand and Hong Leong win bid to acquire Pacific Mansion for $980 mil, highest in the current en bloc cycle

SINGAPORE (Mar 19): Subsidiaries of GuocoLand and the Hong Leong Group have submitted the winning bid of $980 mil to acquire Pacific Mansion.

The price is the highest in the present en bloc cycle, and only surpassed by the $1.3 billion sale of Farrer Court, according to CBRE, which brokered the transaction.

GuocoLand (Singapore), Intrepid and Hong Realty will hold stakes of 40%, 40% and 20% respectively in the prime District 9 property which can be redeveloped into a luxury condominium.

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