Market Chatter: Hongkong Land Eyes Sale of Singapore Property Development Unit for SG$1.1 Billion

MT Newswires

2024-12-06

Hongkong Land Holdings (SGX:H78) is mulling the sale of its Singapore-based property development unit, MCL Land, Bloomberg reported Thursday, citing people close to the matter.

The firm owns 100% of MCL and is looking to divest its stake at around SG$1.1 billion, the report said. The company is in discussions with financial advisers regarding the transaction.

The news comes in after the company disclosed plans to move on from its residential development business to focus on real estate investment trusts, according to the report.

Hongkong Land has yet to respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Accuracy is not guaranteed.)</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地产股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2489244894","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489244894","pubTimestamp":1733457470,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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The company is in discussions with financial advisers regarding the transaction.The news comes in after the company disclosed plans to move on from its residential development business to focus on real estate investment trusts, according to the report.Hongkong Land has yet to respond to MT Newswires' request for a comment.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6512":"房地产股","BK6110":"房地产经营公司","BK6139":"房地产运营公司","CFA.SI":"NikkoAM-STC Asia REIT","H78.SI":"置地控股有限公司"},"translate_title":"市场传闻：香港置地计划以11亿新元出售新加坡房地产开发部门","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1,"H78.SI":0.9},"content_text":"Hongkong Land Holdings (SGX:H78) is mulling the sale of its Singapore-based property development unit, MCL Land, Bloomberg reported Thursday, citing people close to the matter.The firm owns 100% of MCL and is looking to divest its stake at around SG$1.1 billion, the report said. The company is in discussions with financial advisers regarding the transaction.The news comes in after the company disclosed plans to move on from its residential development business to focus on real estate investment trusts, according to the report.Hongkong Land has yet to respond to MT Newswires' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}