Tuan Sing Holdings sells Singapore office tower for $370m

Tuan Sing Holdings has plans to complete one of the largest commercial real estate transactions in Singapore this year with the signing of the sale and purchase agreement for the divestment of 100 percent of the issued shares of 39 Robinson Road Pte. Ltd., which is the registered owner of Robinson Point, at an agreed property value of S$500 million ($370 million).

Robinson Point is a 21-story freehold office building located at 39 Robinson Road in the heart of Singapore’s central business district. The building has gross floor area of approximately 15,700 square meters (169,000 square feet). The ground floor is occupied by retail units, with car park bays on levels three to five, and the remaining floors comprising office units. Asset enhancement works to the main lobby, carpark lobby and loading bay were completed in 2015.

Given its prime location, the building is expected to benefit from the upcoming rejuvenation of the CBD. The CBD Incentive Scheme was introduced