19 Nassim Developer Information
CRL Realty, a wholly-owned subsidiary of property giant CapitaLand, has sold its 100 percent stake in Nassim Hill Realty (NHR) to Kheng Leong Company for $411.6 million. CapitaLand revealed that NHR was responsible for developing Nassim Woods, a luxurious low-rise condominium located along Nassim Hill in District 10. It presently owns 45 units in the freehold property. The consideration, which was satisfied entirely in cash, is subject to post-completion adjustment and comprises the estimated net tangible assets value of $138.7 million as at 16 January 2017. It also takes into account the $407.2 million agreed property value for the 45 units in Nassim Woods, as well as an assignment of a $272.9 million shareholder’s loan.
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Keppel Land is the property arm of Keppel Corporation, a multi-business company providing solutions for sustainable urbanisation, with key businesses in offshore and marine, property, infrastructure and investments.
As a multi-faceted property company, Keppel Land provides innovative real estate solutions with its sterling portfolio of award-winning residential developments, investment-grade commercial properties and integrated townships.
Keppel Land is geographically diversified in Asia, with Singapore, China and Vietnam as its key markets, while it continues to scale up in other markets such as Indonesia and India.
Keppel Land is Asia's premier home developer, with a pipeline of about 46,000 homes in Singapore and overseas. It is also a leading prime office developer in Singapore and is committed to grow its commercial portfolio in key Asian cities including Shanghai, Beijing and Tianjin in China, Ho Chi Minh City in Vietnam, ...