MPACT subsidiary sells Festival Walk Tower for close to HK$2 billion
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Mapletree Pan Asia Commercial Trust (MPACT) announced the sale of Festival Walk Tower in Hong Kong for nearly HK$2 billion to an unrelated third party. The office component, with a lettable area of 213,982 sq ft, was originally valued at HK$2.3 billion. The divestment, set for completion in February, aims to enhance financial flexibility. MPACT will retain ownership of Festival Walk's retail mall, valued at HK$21.8 billion. Post-sale, MPACT's portfolio will include 15 properties across five Asian markets.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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