The disposal of the assets is expected to net the group a gain of $61 million.
Hotel Properties Limited has agreed to dispose of all seven of its shop units in the seven-storey freehold Ming Arcade. The units were sold in a collective sale to Royal Hiranandani Pte Ltd under the Royal Group of Companies.
The sale assets have a total strata area of 1,774 sqm (19,095.18 sq ft), representing 54.63% of the total strata area. The sale assets also represent 54.63% of the total share value of Ming Arcade.
