BlackRock Inc, the world's largest asset manager, is exploring a sale of its second office tower in Singapore's central business district, people with knowledge of the matter said. BlackRock has started reaching out to potential buyers to gauge their interest in Asia Square Tower 2, according to the people, who asked not to be identified as the information is private. The development could fetch about...
Asia Square
Singapore's Asia Square Tower 1 has set the record of being the largest single-asset and office transaction in the Asia-Pacific region with a sale value of US$2.45 billion (S$3.31 billion), according to real estate consultancy JLL. The 43-storey retail and office building was sold earlier this month by global investment management firm, BlackRock, to Qatar Investment Authority's sovereign wealth...
BlackRock has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion, in what the US firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located along Marina View at Marina Bay, has more than 1.25 million square feet of net lettable area and has Citigroup as its anchor...
QATAR Investment Authority (QIA) said on Monday it has reached an agreement with a subsidiary of a fund advised by BlackRock to acquire Asia Square Tower 1 in Singapore at about S$3.4 billion. This marks the largest single-tower real estate transaction in Asia-Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office...
BLACKROCK'S exclusive negotiation period on the sale of Asia Square Tower 1 to a consortium led by ARA Asset Management has ended without a deal being concluded. The asset management giant, however, is said to be still in discussions with ARA but may also reach out to other parties, including CapitaLand, which was the original preferred bidder when an expression of interest exercise for the 43-storey...
CapitaLand, South-east Asia’s biggest developer, says it has withdrawn from negotiations to buy Asia Square Tower 1. The company will continue to explore opportunities that allow it to generate required returns, it said in a statement today (Nov 4). CapitaLand didn’t give a reason for its decision. A consortium of Norway’s sovereign wealth fund and CapitaLand was chosen as the preferred bidder...
Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building. Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's...
The owner of Asia Square Tower 1 may sell the building for more than S$4 billion after receiving expressions of interest from potential buyers. This is according to Bloomberg, which quoted BlackRock real estate managing director Greg Lapham in a report dated Jun 17. BlackRock, which also owns Asia Square Tower 2, hopes to close the deal by the end of the year, Lapham said. Asia Square Tower 1, which is...
Singapore's commercial district will soon have more new offices. Asia Square Tower 2 was awarded its Temporary Occupation Permit (TOP) on September 2. This marks the completion of the integrated commercial development in Marina Bay. Asia Square Tower 2, the only new office development to be housed in the Central Business District (CBD) this year, spans close to 800,000 square feet of Grade A...
The Westin hotel is making a comeback in Singapore after a 10-year absence. Its owner Starwood Hotels and Resorts is aiming to double its footprint in Asia in the next three to five years. The group has about 160 new hotels in the pipeline for Asia, one of them - The Westin Singapore - is due to open this November. It is looking to fill 300 job vacancies, amid the tight labour...