CapitaLand Integrated Commercial Trust (CICT) is announcing the divestment of 21 Collyer Quay, an office tower in Singapore's central business district, for S$688 million:

The sale price was arrived on a willing-buyer-willing-seller basis, in line with an independent valuation of the property conducted by Savills. Based on the consideration and the building’s annualised net property income for the period ended Sept 30, 2024, CICT’s exit yield is below 3.5%. Net proceeds from the divestment are anticipated to be around $681.7 million.