NOL Intends To Sell Singapore HQ Building
By Anuja Abraham
Shipping and logistics leader NOL Group announced yesterday, July 2, 2012, that it intends to sell its Singapore headquarters building. The company has not decided on a reserved price for the 29-year-old building but said it is selling to release capital for strategic investment.
NOL has retained the commercial real estate firm Jones Lang LaSalle to market the property. The 26-storey tower is located near the foot of Alexandra Road in Singapore.
About 500 people work in the NOL building. The company said a decision to relocate them or remain in the existing building as a tenant will wait until a buyer is identified.