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Raffles Education sells corporate building for S$121.8 million
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Raffles Education sold its corporate building at 51 Merchant Road for S$121.8 million, 78% above book value but below market value. The sale will yield a S$53 million gain and net proceeds of S$121.3 million. The transaction aims to optimize the balance sheet and fund higher-yielding initiatives, with completion expected by Jan 30, 2026. The sale reflects growing investor interest in shophouses amid an improving economic outlook.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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