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CapitaLand Mall Trust Sells Rivervale Mall

Shares Investment

CapitaLand Mall Trust,through its manager, has announced the group’s sale of Rivervale Mall to a private equity fund managed by AEW Asia for a consideration of $190.5 million.

Rivervale Mall is a suburban mall situated within the housing area of Sengkang New Town, consisting of three retail levels and is part of mixed development comprising 490 units of residential units known as Rivervale Crest. It has a total net lettable area of 81,159 square feet and a leasehold tenure of 99 years from 6 December 1997.

After taking into account the divestment fee of $0.95 million and other divestment related expenses, the net proceeds from the sale would be approximately $188 million. This will provide the group with greater financial flexibility to repay debt, to finance any capital expenditure and asset enhancement works, and/or to finance general corporate and working capital requirements.



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