Uol Sell Kinex Mall 375 Million
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UOL Group has announced their plan to sell the KINEX mall for $375 million, marking another significant divestment move by the renowned property and hospitality company. The buyers of the mall are Kinex Times Square and Xiaohong Property Management, two established entities in the industry.
This proposed divestment is a strategic move by UOL to unlock the potential value of their investment in KINEX. It is also part of the company’s efforts to restructure their overall property portfolio, further strengthening their market position.
According to UOL, the property is currently valued at $370,005,000 on their books and was last evaluated by Edmund Tie & Company (SEA) for $370 million. Based on their half-year financial results ending June 2025, KINEX generated a net profit of $3.1 million for UOL. The company anticipates a gain of approximately $2.4 million from the divestment.
Previously, in July 2023, UOL successfully sold their long-held Parkroyal Kitchener Hotel to Worldwide Hotels Group for $525 million, resulting in a gain of $446.2 million for the company.
KINEX is a prime freehold property located at 11 Tanjong Katong Road, with a total net lettable area of 204,223 square feet occupied by a three-storey retail podium and a basement. Additionally, there are residential units situated above the mall.
The transaction is expected to be completed on October 31. Upon completion, UOL aims to utilize the net proceeds from the sale to enhance their financial flexibility by repaying existing debts, financing capital expenditure projects, investing in asset enhancements, and meeting general corporate and working capital requirements.
On September 10, UOL’s shares closed at $7.40, showing a decrease of 1.99% for the day but a 43.41% increase year-to-date.