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05

Qatar State Fund Buys Singapore Office Tower for S$3.4 Billion

By Tony Seruga

Asia Square sale is biggest office deal in the city-state
Largest single-tower property transaction in Asia-Pacific

Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, agreed to buy BlackRock Inc.’s Asia Square Tower 1 for S$3.4 billion ($2.5 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 and BlackRock Monday. The building has been on the market since last year after bids by a consortium of Norway’s sovereign wealth fund and CapitaLand Ltd., Singapore’s largest developer, and rival bids by ARA Asset Management Ltd. failed to clinch the deal…

Qatar State Fund Buys Singapore Office Tower for S$3.4 Billion

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