Ascendas REIT to divest Genting Lane property at 66.8% gain

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Singapore’s Ascendas REIT announced on 22 December that it has entered into a sale and purchase agreement with Axxel Marketing for the sale of 84 Genting Lane.

The 19-year-old property features a gross floor area of 11,917 square metres, and an occupancy level of 90.1% as at 30 September 2017.

84 Genting Lane has a remaining land lease tenure of about 22 years, said the REIT.

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