BlackRock Singapore tower sale: third time lucky

Oversupply, Google leaving, a sluggish economy, and downsizing by financial and commodity-related tenants all weighed on BlackRock’s sale of the grade A office tower.

BlackRock Singapore tower sale: third time lucky

BlackRock looks set to sell a 43-storey office tower in central Singapore for S$3.4 billion $2.45 billion after twice being left standing at the altar.

The US investment manager said on Monday that it has agreed to sell the grade A office block in Singapore’s Marina Bay business district, Asia Square Tower 1, to the Qatar Investment Authority QIA.

The deal provides a welcome boost to the...

To continue reading, please login or register for free

Click for more on: property | blackrock | singapore | qia | swf | acquisitions | capitaland | google

Print Edition

FinanceAsia Print Edition