Korea pension fund expected to take stake in Frasers Tower
A deal is expected to value the entire property at slightly under S$2,900 per square foot on net lettable area, or close to S$2 billion
Singapore
SOUTH Korea's National Pension Service (NPS) is expected to take a stake in Frasers Tower in Singapore's Central Business District, The Business Times understands.
Market watchers note that NPS has been doing exclusive diligence on the acquisition for some time, for a 50 per cent stake in the 38-storey, premium Grade-A specification office building on Cecil Street.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%