Perennial Holdings, Sino Land, Far East JV buys Singapore historic building for $505m

A joint venture between Perennial Holdings (50 percent), Sino Land (25 percent) and Far East Organization (25 percent) has exercised its option to acquire the Golden Mile Complex in Singapore for S$700 million ($505 million), with plans for restoring the historic building.

Golden Mile Complex commands dual frontage along Beach Road and Nicoll Highway, with panoramic city and sea views. The prominent plot has access to the Central Business District and Marina Bay. Myriad amenities are nearby as are the tourist-popular and heritage-rich areas of Haji Lane and Kampong Gelam precinct, with a vibrant day and nightlife scene. Nearby recreational options include Kallang Riverside Park and the Singapore Sports Hub. East Coast Park is a 15-minute drive away.

The joint venture will also explore transforming Golden Mile Complex into a mixed-use integrated development comprising office, retail and residential components.

“We look forward to partnering with Perennial in ou