Ho Bee sells industrial building Forte for $66m
It will book a gain of $6.9m.
Ho Bee Land will sell Forte, a block of 8-storey high-tech industrial building, for a total consideration of $66m.
The building was sold to Laura Ashley (Asia) and the sale price works out to approximately $672 per square feet.
Ho Bee said that the sale is expected to yield a net gain of approximately S$6.9 million. This will be reflected in the Group’s financial result for the third quarter of 2015.