YTL Starhill Global Property Management Pte. Ltd., The Blackstone Group L.P. (NYSE:BX) and Frasers Centrepoint Limited (SGX:TQ5) are shortlisted for the purchase of 702,000 square feet space in Jurong Point from Lee Kim Tah Holdings Limited from Guthrie GTS Ltd. It is reported that each of the three bidders have offered about SGD 2.2 billion for the transaction. The three are said to be among nine parties that made submissions during an expressions of interest (EOI) exercise that closed on November 18, 2016.

Other bidders who are understood to have participated in the EOI exercise include Link Real Estate Investment Trust (SEHK:823), PGIM, Inc. and some of Singapore's big mall owners. Guthrie and Lee Kim Tah are offering their 702,000 square feet in the mall through the sale of shares in companies that own this space.