Reclaims Global to Acquire Commercial Property in Singapore for Nearly SG$39 Million
MT Newswires
Dec 02
Reclaims Global (SGX:NEX) agreed to acquire Lasidon Holdings, which owns a freehold commercial property in Singapore, from Sky Property for SG$38.8 million, according to a Monday filing with the Singapore Exchange.
Shares of the company were up over 1% in Tuesday trading.
Located at Serangoon Road, Singapore, the property is a freehold commercial building with a gross floor area of 506.8 square meters.
Reclaims Global is looking to redevelop the property to improve its efficiency and increase its net lettable area.
Completion of the deal is expected to take place within four months after the date of the sale and purchase agreement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.