Reclaims Global's Unit Exercises Option to Purchase Commercial Property in SingaporeCommercial Property

MT Newswires

03/18

Reclaims Global (SGX:NEX) said its subsidiary Reclaims Enterprise exercised an option to purchase a commercial property at 464 Tagore Industrial Avenue, Singapore, from Ang Mo Supermarket for SG$20.5 million, according to a Wednesday filing with the Singapore Exchange.

The freehold commercial property spans an area of 13,739 square meters and is currently not tenanted.

The acquisition is part of the company's strategy of property investment and development. Reclaims Global will use bank borrowings and internal resources for the acquisition.

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