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 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).



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