FCOT – BT

Frasers Commercial to sell property for S$360 mln

Frasers Commercial Trust , which owns office assets in Asia, said on Tuesday it will sell a Singapore commercial property to Bayfront Ventures Pte Ltd for S$360 million (US$288 million).

Bayfront Ventures is a company jointly owned by Fragrance Group Ltd and World Class Land Pte Ltd, a subsidiary of Aspial Corporation Ltd.

Frasers Commercial said it will realise a gain of S$72.8 million from the sale of the property.