Announces Option Agreement on Junction 8 and Funan IT Mall with Ascott Group CapitaLand Limited, has entered into a conditional Put and Call Option Agreement with The Ascott Group Limited relating to Junction 8 and Funan IT Mall, for S$486 million. These Ascott properties are intended to be acquired by a public listed Singapore Property Trust ("SPT") for retail malls which CapitaLand Commercial anticipates launching sometime by the end of this year subject to obtaining all regulatory approvals and prevailing market conditions. Junction 8 is a suburban mall located in the Bishan Town Centre between the Bishan Mass Rapid Transit station and bus interchange while Funan IT Mall is the largest specialised IT mall in Singapore. Commenting on the latest move, Mr Ed Ng, chief executive officer of CapitaLand Commercial Limited and CapitaLand Fund Management Limited, said "We are delighted to have reached this significant milestone where we are able to announce securing control of properties that could be included in the proposed listed SPT. We have long been exploring the idea of a listed property trust in Singapore and this transaction takes that idea a step closer to reality. The SPT is another vehicle we are using to expand our fee-based businesses by leveraging on our asset and property management expertise".