City Developments - RHB Invest 2016-07-07: Acquisition of remaining 50% stake in Nouvel 18
CITY DEVELOPMENTS LIMITED C09.SI City Developments - Acquisition of remaining 50% stake in Nouvel 18
- City Developments (CDL) acquired the remaining 50% stake in Nouvel 18 from its JV partner Wing Tai Land Pte. Ltd. for an aggregate consideration of SGD411m.
- Nouvel 18 located at 18 Anderson road is a 156-unit freehold site and is within walking distance to Orchard road shopping belt. The site was acquired in 2007 for SGD477.7m (SGD1,650 psf ppr) and was completed in Nov 2014. No units has been sold till date.
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