Qatar Investment Authority pays $2.5b for Singapore CBD office
Qatar Investment Authority has acquired Asia Square Tower 1 in Singapore for approximately S$3.4 billion ($2.45 billion). The seller was a subsidiary of a fund advised by BlackRock
This marks the largest single-tower real estate transaction in Asia Pacific to date, and the second largest single-tower real estate transaction globally, according to JLL.
Asia Square Tower 1 totals more than 1.25 million square feet and 43 stories. It has received the U.S. Green Building Council’s LEED Core & Shell Platinum certification. Citibank has been the anchor tenant since the building’s completion in 2011. Together with Asia Square Tower 2, the complex is a world-class integrated development located in Singapore’s Marina Bay business and financial district.
The Qatari sovereign wealth fund has been investing actively in international real estate. It was reported Qatar has plans to buy the luxury St. Regis hotels in New York City and San Franc