SINGAPORE – Property developer UOL has entered into an agreement to sell retail mall Kinex for $375 million. The buyers of the freehold property are Kinex Times Square and Xiaohong Property Management.
Located at 11 Tanjong Katong Road, the property consists of all the mall’s commercial strata lots, housed in a three-storey retail podium and a basement level. It has a total net lettable area of 204,223 sq ft.
In a bourse filing on Sept 10, UOL said the divestment is an opportunity to “unlock the value of its investment in Kinex”, and is part of the group’s ongoing strategy to reconstitute its property portfolio.
Net proceeds from the sale will provide UOL with greater financial flexibility for debt repayment, investments and other corporate requirements. The deal is scheduled to be completed on Oct 31.
Shares of UOL rallied after the news with the stock closing up 3.9 per cent, or 29 cents, to $7.69 on Sept 11.
The sale is the latest in a series of divestments by UOL.
Earlier in 2025, the group sold its Parkroyal hotel in Yangon.
“Source:[UOL sells Kinex mall in Tanjong Katong for $375 million] © Singapore Press Holdings Limited. Permission required for reproduction”
Properties Highlighted In This Article
Let’s Discuss Your Property Plans
Interested in This Property?
Buying, selling or renting? Get a free consultation with realtors with a background in interior and lighting design. We’ll discuss your goals and help you assess your options—from pricing and timelines to layout practicality and space potential.
Share your contact details below, and we will get in touch to understand your needs and suggest the next steps. No pressure. No obligation to proceed.
Other Topics That May Interest You
Enquire About This Property
Check current availability and rental terms, arrange a viewing, or discuss whether the space could meet your business needs.
Share your requirements and we will get in touch. No obligation to proceed.