UOL, Singapore Land Conclude Purchase of 50% Stake in Prime Sydney Property

MT Newswires

2025/01/10

UOL Group (SGX:U14) and its subsidiary Singapore Land (SGX:U06) completed the acquisition of a 50% stake in 388 George Street in Sydney, Australia, for AU$460 million.

The acquisition was carried out through a 20:80 joint venture trust, 388 Property Trust, according to a filing with the Singapore Exchange on Thursday.

The deal is part of UOL's foray into Sydney's Central Business District with a commercial asset.

UOL and SingLand will co-own the building alongside Investa Gateway Offices fund partners, Oxford Properties Group and Link Asset Management.

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