6 February 2015 – City Developments Limited (CDL) together with a U.S. based investment firm have acquired, through a jointly established Japanese special purpose company, a prime freehold land site in Tokyo for 30.5 billion yen (approximately S$355.5 million based on an exchange rate of S$1 to 85.8 Japanese Yen) from Seiko Holdings Corporation (Seiko). The acquisition comes on the back of CDL’s plan to step up its overseas expansion in real estate development.

 

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