NTUC-linked group buying 50% of nex
July 19, 2012
A group linked to the Singapore labour movement is snapping up a 50 per cent stake in the Serangoon-located shopping mall nex for $825 million, in what could be the biggest property investment deal of the year.
BT understands that Mercatus Co-operative Ltd, whose shareholders are the Singapore Labour Foundation (SLF), NTUC Income and NTUC FairPrice, is buying a share in the shopping mall from a fund linked to Pramerica Real Estate Investors (Asia).