The CPF Board has awarded the public tender for the sale of the CPF Building at 79 Robinson Road to Southernwood Property Pte Ltd, which belongs to a company wholly owned by Ascendas Land (Singapore) Pte Ltd, at a bid price of $550 million.
The public tender for the sale of the building which closed on 28 October attracted three bids as follows:
- Bid of $550 million by Southernwood Property Pte Ltd (Wholly Owned by Southernwood Holding Pte Ltd which in turn is wholly owned by Ascendas Land (Singapore) Pte Ltd)
- Bid of $538.28 million by Leapford Pte Ltd (Wholly owned by Pacific Century Regional Developments Limited)
- Bid of $280 million by OUE Reef Development Pte Ltd (Wholly owned by Reef Development Holdings Pte Ltd, which in turn, is jointly owned by OUE Limited, Haiyi Holdings Pte Ltd, SingHaiyi Group Ltd)
The highest bid came from Southernwood Property Pte Ltd. Southernwood Property Pte Ltd also met all tender criteria, including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner.
Since 23 November 2015, the corporate operations of the CPF Board have been relocating in phases to Novena Square Towers A and B. The relocation is a strategic move to free up prime office space in the Central Business District for higher-value uses.
The CPF Service Centre will continue to operate at 79 Robinson Road until further notice. The customer hotline and email addresses remain unchanged.