Singapore $3.5 Billion City Developments (CDL) Sells 50.1% Stake in South Beach to Joint Venture Partner Malaysia $2.4 Billion IOI Properties Group for $648 Million at $2.1 Billion Valuation, IOI Properties Group Acquires Full Ownership of South Beach Commercial Including South Beach Tower Grade A Office & JW Marriott Hotel Singapore South Beach
4th June | Hong Kong
Singapore City Developments (CDL, $3.5 billion market value) is selling 50.1% stake in South Beach to joint venture partner Malaysia IOI Properties Group ($2.4 billion market value) for $648 million (S$834.2 million) at $2.1 billion (S$2.75 billion) valuation, with IOI Properties Group acquiring full ownership of South Beach commercial including South Beach Tower Grade A office & JW Marriott Hotel Singapore South Beach.
“ Singapore $3.5 Billion City Developments (CDL) Sells 50.1% Stake in South Beach to Joint Venture Partner Malaysia $2.4 Billion IOI Properties Group for $648 Million at $2.1 Billion Valuation, IOI Properties Group Acquires Full Ownership of South Beach Commercial Including South Beach Tower Grade A Office & JW Marriott Hotel Singapore South Beach “
Singapore $3.5 Billion City Developments (CDL) Sells 50.1% Stake in South Beach to Joint Venture Partner Malaysia $2.4 Billion IOI Properties Group for $648 Million at $2.1 Billion Valuation, IOI Properties Group Acquires Full Ownership of South Beach Commercial Including South Beach Tower Grade A Office & JW Marriott Hotel Singapore South Beach

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