A FORMER CapitaLand executive has stitched together a $247.55 million deal to snap up Katong Mall.

Mr Pua Seck Guan (right) set up a private trust called Perennial Katong Retail Trust to buy the mall from Tuan Sing Holdings' Golden Cape Investment. The investors are no more than six parties, including corporate and institutional investors and Mr Pua.

The seven-storey centre, in a fairly affluent neighbourhood at the junction of East Coast and Joo Chiat roads, will undergo a $55 million revamp lasting 12 to 15 months.

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