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Allied Tech

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Top Global to buy units in Thong Teck Building from Allied Tech director

04 Sep 2019 09:00

By Fiona Lam

MAINBOARD-LISTED property group Top Global has decided to buy 23 freehold commercial strata-titled lots with 43 property addresses in Thong Teck Building for S$170 million.

The properties comprise 39 office units and four retail units located within the nine-level Thong Teck Building on 15 Scotts Road, which was built in the mid-1970s and upgraded in 2014.

The Business Times had reported in May that Top Global would be buying a parcel of office and retail space from entities that Kenneth Low Si Ren, executive director of Allied Technologies, was believed to have taken control of in April from RSP Architects Planners and Engineers' founder Albert Hong.

Following the BT report, Top Global said in late May that it had been granted options to purchase the strata units, but was "still evaluating the market conditions".

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Source: Business Times

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