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REAL estate behemoth CapitaLand has won the tender to manage Bugis Village and Bugis Street for up to a decade, it said in a bourse filing on Thursday.
It will take over the integrated management of the area on April 1, 2020 with an initial three-year tenancy, which may be renewed for two further terms of three years each and a final tenancy term not extending beyond March 30, 2030.
Existing tenants at both sites can continue their business operations under CapitaLand for a year at the prevailing rent, until March 31, 2021.
Currently, CapitaLand Commercial Trust manages Bugis Village, while Bugis Street Development manages Bugis Street. Their leases will expire on March 31, 2020.
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- Condo rents grow 3.7% last year
- HDB upgraders boost private home sales in 2019
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Previous news selection
Condo resale prices grew 1.7 per cent last year
About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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