Qatar sovereign wealth fund close to buying Asia Sq Tower 1

Singapore

QATAR Investment Authority (QIA) is said to be on the brink of sealing a deal to buy Asia Square Tower 1 from BlackRock. The price is expected to be about S$2,700 per square foot of net lettable area (NLA) or S$3.5 billion.

The lump sum price will set a fresh record for an investment sale of a piece of Singapore real estate; it will also be the largest transaction in the Asia-Pacific of a single office asset in the past five years.