CapitaLand and CDL poised to buy Liang Court mall at S$400m

Singapore

THE decades-old Liang Court mall - famous at its peak as a Japanese expat haunt and for the Daimaru department store and supermarket - is expected to be sold to new owners for S$400 million.

The Business Times understands that a put-and-call option agreement has been entered into between the owner, an entity linked to PGIM Real Estate, and CapitaLand and City Developments Ltd (CDL).

CapitaLand's listed unit Ascott Residence Trust already owns serviced residence the Somerset Liang Court Singapore; CDL's indirect subsidiary CDL Hospitality Trusts (CDLHT) owns t…