UOL Sells Kinex Mall in Tanjong Katong for S$375 Million
Property developer UOL Group has agreed to sell Kinex Mall at 11 Tanjong Katong Road for S$375 million to Kinex Times Square and Xiaohong Property Management.
-
The sale includes all commercial strata lots in the development, which consists of a three-storey retail podium and a basement.
-
The mall has a net lettable area (NLA) of 204,223 sq ft.
-
Kinex is a freehold property.
Why UOL is Selling
UOL stated that the sale was part of its broader strategy to reconstitute its property portfolio and to unlock capital value from its assets. The net proceeds will enhance UOL’s financial flexibility for debt repayment, reinvestment, and other corporate needs.
Timeline & Market Response
-
The transaction is expected to complete by October 31, 2025.
-
Following the announcement, UOL shares rose 3.9%, closing at S$7.69 on September 11.
Other Divestments
This marks another move in UOL’s ongoing divestment strategy. Earlier in 2025, the group also sold its Parkroyal hotel in Yangon.
