NTUC Income

Homegrown insurance bigwigs Great Eastern and NTUC Income have leased office space at Paya Lebar Quarter (PLQ). According to Business Times, Great Eastern - a listed subsidiary of OCBC, has leased about 125,000 sq ft on four floors of the 13-storey Tower 3 in the project. This is the same tower where SMRT has leased 97,000 sq ft (three levels) and property consulting group CBRE, 31,000 sq ft (one...

NTUC Income will be acquiring a further 51 per cent stake in 16 Collyer Quay from Goldman Sachs to fully own the prime office building. In a statement, the Singapore insurer said the acquisition values the 37-storey, 999-year leasehold building formerly known as Hitachi Tower, at around S$660 million. This works out to less than S$2,400 per square foot on a net lettable space of over 278,000 square...

Alpha Investment Partners Limited (AIP) - which is the property fund management arm of Keppel Land - and NTUC Income have agreed to jointly acquire Capital Square for S$889 million. Under the deal, Alpha Investment Partners will buy over a 50 per cent stake through its Macro Trends Fund. NTUC Income will hold the other 50 per cent. Alpha Investment Partners will be the asset manager upon completion of...

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...