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Norway’s sovereign fund, Keppel Land and CapitaLand are among the bidders for BlackRock’s office building in Singapore, Asia Square Tower 1, according to people familiar with the matter.
In a report from Bloomberg, sources say the office tower could be valued at more than S$3.5 billion, and said the agreement for Asia Square Tower 1 could be reached over the next 60 days, one of the people said.
Earlier this year, BlackRock said it has received expression of interests for Asia Square Tower 1 and could get more than S$4 billion. BlackRock’s real estate managing director Greg Lapham also said in June that the firm may look to sell Tower 2 of the Marina Bay development.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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