Keppel Ltd. Sells Non-Core Retail Asset i12 Katong for Approximately S$372 Million

NewTimeSpace News: On April 22, 2026, Keppel Ltd. issued an announcement stating that it had entered into a conditional agreement with Altallo Holdings Pte. Ltd. via its real estate division to sell 100% of the equity interest in i12 Katong, a suburban retail mall located on East Coast Road, for a cash consideration of approximately S$372 million.

Under the agreement, the purchaser will make a total payment of S$372.03 million in three tranches, comprising around S$30,000 as share consideration and S$372 million as loan repayment consideration. A spokesperson for Keppel Ltd.’s Acceleration & Monetisation Taskforce said the transaction would unlock substantial cash for reinvestment in high-return opportunities aligned with the "New Keppel" strategy, while reducing debt and returning value to shareholders.

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