Capital World Ltd. (SG:1D5) has released an update.
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Capital World Ltd.’s subsidiary, Capital City Property, has entered into a non-binding agreement to sell the development rights and ownership of a five-tower real estate project to Growth Development & Management for RM25 million. The deal for the partially constructed towers includes a retail podium, hotel suites, and serviced apartments, with plans for GDM to continue development. Payment will be made in tranches, with initial due diligence by GDM to be concluded within three months, followed by a formal Sale and Purchase Agreement.
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