Singapore’s CDL in talks to buy St Katharine Docks in London

Singapore's CDL in talks to buy St Katharine Docks in London

Singapore-listed real estate company City Developments (CDL) has released a statement about the recent media articles regarding its proposed acquisition of the St Katharine Docks complex in London, United Kingdom.

City Developments confirmed that it is in discussions with the seller on the St Katharine Docks development acquisition (SKD Acquisition).

”The company is currently in discussion with the seller on the SKD Acquisition which is subject to satisfactory due diligence and negotiation on the terms, and has signed an exclusivity for due diligence together with a non-binding heads of terms. As previously announced, the company is always examining opportunities to improve shareholder value and the SKD Acquisition is one such opportunity,” said CDL in an SGX filing on Monday.

According to the CoStar report, Blackstone is in talks to sell St Katharine Docks marina to City Developments for around £400 million.