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Nordic Group sells 42 Tech Park Crescent property for $3.4 mil

Property

Nordic Group sells 42 Tech Park Crescent property for $3.4 mil

Michelle Zhu Published on Fri, Jan 12, 2018 / 5:35 PM GMT+8

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SINGAPORE (Jan 12): Nordic Group has sold its property at 42 Tech Park Crescent for $3.4 million to construction company Debenho via the group’s wholly-owned subsidiary, Ensure Engineering.

The property occupies a land area of 926.4 sqm, and includes all buildings on its land as well as its plant and equipment.

In a Friday announcement, Nordic says the sale of 42 Tech Park Crescent, being a non-core asset, would allow the group to repay current bank borrowings, improve its overall cash position, and reduce finance costs.

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