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ARA bidding for 50% stake in Capital Square: sources

If successful, it will add to recent spate of deals in the CBD as falling rents, large supply push valuations lower

Capital Square, which is spread over 388,215 square feet, was built by developer Keppel Land and completed in 1998.


ARA Asset Management Ltd is bidding for a stake in Capital Square in Singapore's central business district, according to people familiar with the matter.

Singapore-listed ARA is seeking the 50 per cent stake in the building that was put up for sale last year by Alpha