SINGAPORE: A consortium of Norway’s sovereign wealth fund and developer CapitaLand Ltd was chosen as the preferred bidder for a Singapore tower being sold by BlackRock Inc, in what could become the biggest office deal in the city-state, people with knowledge of the matter said.
The bidding group will start exclusive talks with BlackRock about a purchase of Asia Square Tower 1, and could reach an agreement in the next month, according to the people. It beat ARA Asset Management Ltd, which also submitted a final bid for the building, they said, asking not to be identified as the information is private.
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