NOL intends to sell Singapore headquarters building

by Press Release on 2012-07-03 08:29:29

Shipping and logistics leader freeing up capital

SINGAPORE, 2 JULY 2012 – Shipping and logistics leader NOL Group said today 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.

The sale will be made subject to customary terms and conditions, required regulatory and/or any other approvals.

About NOL
Neptune Orient Lines (NOL) is a Singapore-based global container shipping and logistics company. Its container shipping arm, APL, provides world-class container shipping and terminal services and intermodal operations supported by leading-edge IT and e-commerce.  Its logistics business, APL Logistics, provides international, end-to-end logistics services and solutions, employing the latest IT and data connectivity for maximum supply chain visibility and control. NOL Web site: www.nol.com.sg