Hongkong Land (SGX:H78) has agreed to sell the top nine floors of One Exchange Square to the Hong Kong Exchanges and Clearing for HK$6.3 billion, according to a filing with the Singapore Exchange on Thursday.
The total area to be sold is 147,025 square feet and also includes the current retail space on levels 1 and 2 of the building.
Around 45% of the proceeds are expected to be received in 2025 while the balance of 55% will be paid by 2026.
Shares of the property developer surged nearly 10% in recent trading.
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