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Hour Glass to acquire units in Tong Building for $68.5 mil

Ashley Lo
Ashley Lo • 2 min read
Hour Glass to acquire units in Tong Building for $68.5 mil
The group says the acquisition is part of The Hour Glass’ strategy to “invest in high quality assets which will complement the group's commercial properties in the region”.
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Luxury watch retailer The Hour Glass (SGX:AGS) has exercised the options to purchase granted to it by See Hoy Chan Realty and See Hoy Chan Land for the acquisition of units in Tong Building for a purchase consideration of $68.5 million.  

According to a Sept 26 bourse filing, the company will be acquiring units #09-01 to #09-04 and #10-01 to #10- 04 within the building. 

Each level of the property comprises a strata area of 638 sqm (6,867 sq ft) within the freehold premium-grade office property. The units are located near The Hour Glass’ corporate offices within the building.

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