Rajah & Tann Singapore has represented the owners in the S$439 million ($326 million) collective sale via public tender of Delfi Orchard at 402 Orchard Road to CDL Draco, a subsidiary of City Developments Limited (CDL).  

The prime 11-storey freehold commercial building comprises 150 strata-titled units – 127 shops and 23 apartments – of which 126 are already owned by CDL.

 “Having owned 84 percent of the units already, this acquisition allows CDL to potentially unlock the full potential of this prime freehold asset,” Sherman Kwek, group chief executive of CDL, said in a statement.

This acquisition follows other significant collective sales in Orchard Road, such as Tanglin Shopping Centre for S$868 million and Ming Arcade for S$172 million.

R&T partners Norman Ho and Gazalle Mok led the transaction, alongside senior associates Calvin Lim and Itishree Tyagi.