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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
