Tuan Sing Holdings, a developer, seeks to get $500 million from sales of Robinson point. The mainboard organization set to produce a profit of about $128.3 million.
The funds can be spent, the current loans removed and general business and job capital provisions covered.
Last Friday the company did not announce the name of the buyer in the stock exchange, but confirmed it is a British Virgin Islands corporation not affiliated with Tuan Sing, its control shareholders or management.
Robinson’s Argument, according to previous media accounts, has been owned by Tuan Sing as early as October 2013 for $348.9 million. There is 39 Robinson Lane, a 21-storied free-standing office complex. At the end of last year, Colliers International had placed it at $374.4 million, Tuan Sing said.
The ground floor area of the property is 15700 sqm which comprises shopping units on the ground level, parking bays on floors 3 to 5 which office units on the other. In 2015, renovations to assets were done for the main tower, parking tower and loading room.