Hitachi Tower

NTUC Income takes stake in 16 Collyer Quay owner

NTUC Income has paid $101 million for a 49 per cent equity stake in Savu Investments, the company holding 16 Collyer Quay previously known as Hitachi Tower. This transaction values the 999-leasehold office building at about $626 million or $2,250 per sq foot. The prime office property, located near the waterfront in the Collyer Quay area, has a net lettable area of 278,356 sq feet. NTUC Income said...

Goldman looks to refinance Hitachi Tower

The Goldman Sachs funds which own the 999-year leasehold Hitachi Tower along Collyer Quay are looking to refinance the loan on the asset which matures in January next year instead of selling. The driver for the change in strategy is the improving outlook for the Singapore office market, say experts. 'The thinking now is to get refinancing on the asset, ride the current office upcycle and perhaps sell in...

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