CICT to divest One George Street, to book net proceeds of $344.8 mil

EdgeProp Singapore

November 13, 2021



CapitaLand Integrated Commercial Trust is divesting One George Street and will book net proceeds of $344.8 million for its 50% stake.

The 23-storey Grade A office building at the Raffles Place area is being sold for $1.2815 billion to an entity known as SG OGS.

Knight Frank values the property at $1.175 billion as of Sept 30.

At the transacted price, that’s a unit price of $2,875 per square foot and was arrived at through a bidding process conducted by an appointed property consultant.

Read more at: https://www.edgeprop.sg/property-new...ceeds-3448-mil