Tuan Sing Holdings Limited has announced the acquisition of Westgate Tower in Singapore’s Jurong Lake District for S$600m. The deal, executed by its subsidiary Greenlane Land Pte. Ltd., involves acquiring 100% of Westgate Commercial Pte. Ltd. and Westgate Tower Pte. Ltd., which own the commercial office units in the 20-storey building.
Westgate Tower, a premium Grade A office property, offers approximately 305,000 square feet of net lettable area and is currently 90% occupied. This acquisition is set to bolster Tuan Sing’s investment property portfolio, providing an additional source of recurring rental income. The property comprises 295 strata-titled office units, allowing management flexibility.
William Liem, CEO of Tuan Sing, stated, “Westgate Tower represents a rare opportunity to acquire a high-quality Grade A commercial asset in Singapore at an attractive entry price.” He emphasised the strategic location and strong occupancy as factors that will enhance the group’s income base.
The acquisition aligns with Tuan Sing’s strategy of investing in quality assets that offer long-term value creation. The purchase will be funded through internal resources and bank financing, with completion expected on 1 December 2026. The Singapore Exchange Regulation has granted Tuan Sing waivers from certain compliance rules, ensuring the acquisition proceeds smoothly.
This move complements Tuan Sing’s existing properties, including 18 Robinson and Dunearn Village, further solidifying its presence in Singapore’s real estate market.
