Singapore’s NTUC Enterprise Weighs $2.9 Billion Mall Sale, Sources Say

Singapore’s NTUC Enterprise Co-operative Ltd. is exploring a sale of its retail malls in the city-state for about S$4 billion ($2.9 billion), according to people with knowledge of the matter.

NTUC is working with a financial adviser on the potential sale and has reached out to some prospective buyers to gage interest, said the people, who asked not to be identified as the process is private. The properties are held by unit Mercatus Co-operative Ltd., a real estate owner and investor that manages more than S$10 billion of assets, according to its website.