Key Points
- Asset redevelopment of Wisma Atria to boost the mall’s positioning on Singapore’s Orchard Road. The first phase of the redevelopment will commence in 1Q 2011 and is expected to complete by 3Q 2012.
- Phase one of Wisma Atria’s asset redevelopment is expected to incur capital expenditure of about S$31 million and generate an additional net property income of approximately S$2.5 million per annum when stabilized, representing a return on investment of approximately 8.0%.
- The cost of the asset redevelopment works will be funded from the proceeds of the rights issue completed in 2009 and/or working capital.
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