Ascott REIT to dispose serviced residences in Singapore CBD for USD260 million

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Ascott REIT is disposing the serviced residences property known as Ascott Raffles Place Singapore for SGD353.3 million (USD260 million).

The property, which is located within Singapore’s central business district (CBD), was acquired from the The Ascott Limited for SGD220 million in 2012.

As such, Ascott REIT is expected to realise an estimated net gain of approximately SGD134 million from the sale.

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