Ho Bee

Ho Bee: to sell two investment properties for a total consideration of S$144.4m. TG Building, a four-storey warehouse located at 222 Tagore Lane, was sold for S$33m, or ~$254 psf of gfa. While the 2nd deal involves four floors of office space with a total floor area of 52k sqft at Samsung Hub, for $S111.4m, or S$2125 psf. Sales expected to yield a gain of about S$31m, which will be reflected in the 4Q10 results.