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BlackRock appoints agents to sell AXA Tower

Pricing expectation said to be at least $2,000 psf on existing NLA, amounting to $1.35b

Kalpana Rashiwala

Published Fri, Oct 18, 2013 · 10:00 PM

Singapore

BLACKROCK, the world's largest asset manager, is believed to have appointed agents to find a buyer for AXA Tower at 8 Shenton Way. Market observers say this points to the New York Stock Exchange-listed group's serious intention to sell the landmark circular building opposite International Plaza and Tanjong Pagar MRT Station.

The pricing expectation is believed to be at least $2,000 per square foot (psf) based on the existing net lettable area (NLA) of 674,000 square feet - which would amount to $1.35 billion.

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