{"id":16714,"date":"2016-06-16T12:10:08","date_gmt":"2016-06-16T05:10:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/just-like-that-sg-produced-apacs-largest-single-tower-real-estate-deal\/"},"modified":"2016-06-16T12:10:14","modified_gmt":"2016-06-16T05:10:14","slug":"just-like-that-sg-produced-apacs-largest-single-tower-real-estate-deal","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/just-like-that-sg-produced-apacs-largest-single-tower-real-estate-deal\/","title":{"rendered":"Just like that, SG produced APAC\u2019s largest single-tower real estate deal"},"content":{"rendered":"


\nThe skyscraper deal is worth SGD3.4 billion (USD2.5 billion)
\nImage credit: Kopitiambot.com
\nIn an unprecedented move, a Qatar sovereign wealth fund will snap up a Singapore skyscraper for SGD3.4 billion (USD2.5 billion), a record deal in spite of Singapore\u2019s oversupplied office market.
\nQatar Investment Authority will add the 43-storey Asia Square Tower 1 to its portfolio from asset manager BlackRock. With a selling price of SGD2,700 (USD1,980) per sqft, the tower\u2019s sale is being billed as the largest single-tower real estate transaction in Asia-Pacific.
\nThe deal is also, by many accounts, an oddity, given Singapore\u2019s current office stock glut. Vacancy rates for the city-state\u2019s office rental sector are near peak levels in almost a decade.
\nOn top of this, 4 million sqft of office space are set to be added this year, with another 1.4 million coming next year, according to SLP International Property Consultants, as reported by Reuters.
\nOne of two towers by BlackRock in Singapore\u2019s Asia Square development, Asia Square Tower 1 offers more than 1.25 million square feet of net lettable area. The building is reportedly almost 90 percent leased and has Citigroup for its anchor tenant.
\n\u201cFollowing this flagship transaction, we expect there will be increasing investor interest in Singapore prime office stock in the coming months,\u201d said Greg Hyland, head of capital markets Singapore at Jones Lang LaSalle, which advised BlackRock in the transaction.
\nRead next: Are properties near Singapore\u2019s popular schools more expensive?
\n
\nSource : property-report.com
\nRead more…Just like that, SG produced APAC\u2019s largest single-tower real estate deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The skyscraper deal is worth SGD3.4 billion (USD2.5 billion) Image credit: Kopitiambot.com In an unprecedented...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-16714","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4lA","jetpack-related-posts":[{"id":25021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/record-breaking-land-bids-expected-in-singapores-marina-bay\/","url_meta":{"origin":16714,"position":0},"title":"Record-breaking land bids expected in Singapore\u2019s Marina Bay","date":"September 5, 2016","format":false,"excerpt":"\r Fierce jostling ahead for the first Marina Bay land sale in almost a decade Marina Bay, Singapore. The area will have its first land auction in nine years. leungchopan \/ Shutterstock Competition in the auction of a mixed-use site in Singapore\u2019s Marina Bay area will be so fierce that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/qatar-fund-buys-singapore-office-tower-from-blackrock\/","url_meta":{"origin":16714,"position":1},"title":"Qatar fund buys Singapore office tower from BlackRock","date":"June 6, 2016","format":false,"excerpt":"\r Qatar Investment Authority has agreed to buy BlackRock's Asia Square Tower 1 for S$3.4 billion in the biggest office transaction in Singapore.Qatar will purchase the officer tower in the central business district in the largest single-tower sale in the region, according to a joint statement from Qatar Investment Authority\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":168980,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/deyaar-breaks-ground-on-its-vertical-community-dwtn-residences\/","url_meta":{"origin":16714,"position":2},"title":"Deyaar breaks ground on its vertical community, DWTN Residences","date":"January 6, 2026","format":false,"excerpt":"\r The skyscraper, located in Business Bay, will offer 522 units and feature 75,000 sqft of amenities integrated within the tower The post Deyaar breaks ground on its vertical community, DWTN Residences appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r Source\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2026\/01\/DWTN-Residences-Dubai-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15592,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/qatar-state-fund-buys-singapore-office-tower-that-is-home-to-google-in-us2-45-billion-deal\/","url_meta":{"origin":16714,"position":3},"title":"Qatar state fund buys Singapore office tower that is home to Google in US$2.45 billion deal","date":"June 6, 2016","format":false,"excerpt":"\r Qatar Investment Authority, the country\u2019s sovereign wealth fund, has agreed to buy the Asia Square Tower One office complex in Singapore for a reported US$2.45 billion from investment firm BlackRock, in the largest single-tower real estate transaction in the Asia Pacific \r \r Source : South China Morning Post\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/qatar-investment-authority-buys-9-9-per-cent-stake-in-empire-state-building-owner\/","url_meta":{"origin":16714,"position":4},"title":"Qatar Investment Authority buys 9.9 per cent stake in Empire State Building owner","date":"August 24, 2016","format":false,"excerpt":"\r Qatar Investment Authority (QIA), the Middle Eastern country's sovereign wealth fund, bought a near 10 per cent interest in Empire State Realty Trust, owner of New York's Empire State Building, as it boosts investments in North America and the Asia Pacific region.The fund acquired 29.6 million newly issued Class\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21687,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-and-hong-kong-are-the-new-safe-havens-of-apac-says-knight-frank\/","url_meta":{"origin":16714,"position":5},"title":"Singapore and Hong Kong are the new safe havens of APAC, says Knight Frank","date":"August 2, 2016","format":false,"excerpt":"\r APAC investors are turning to Singapore and Hong Kong in 2016, according to a new report from Knight Frank Sydney\u2019s CBD. 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