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Acquiring Asia Square Tower 2 makes sense for CapitaLand Group

There is some speculation that once CapitaLand acquires Tower 2 of Asia Square, it could negotiate a deal with QIA, the owner of Tower 1, for the two to take a stake in each other's tower.

PROPERTY giant CapitaLand has been in exclusive due diligence with a view to buying Asia Square Tower 2 in Marina View from a BlackRock-managed fund. Word has it that the pricing is around S$2,800 per square foot (psf) on the net lettable area of about 780,000 sq ft.

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