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Sign in Sign up for a FREE subscriptionSingapore tower sells for $717m
Bright Ruby Resources has plans to purchase 16 Collyer Quay, in the zone of Raffles Place, located in the central business district of Singapore, for S$1 billion ($717 million), reported Business Times.
The 37-story, 999-year leasehold office asset was sold by NTUC Income Insurance Co-operative.
Formerly known as Hitachi Tower, the property offers Marina Bay views and sheltered connectivity to Raffles Place MRT station via 30 Raffles Place (the former Chevron House). Income At Raffles’ NLA comprises 253,664 square feet of offices and 22,787 square feet of retail space (on Levels 1 and 2). The building also has 148 car parking spaces in the basement levels.
