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DBS Group selling PwC Building to Manulife

The deal values the 28-storey office block at S$747 million or S$2,100 psf on net lettable area

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PwC Building, at Cross Street, is on a site with a balance lease term of 78 years. For Manulife, the purchase is an investment-driven decision, though it is expected to occupy part of the building.

Singapore

IN THE first transaction of an entire Singapore office building this year, DBS Group announced on Friday evening that it is selling PwC Building at 8 Cross Street to an indirect subsidiary of Manulife Financial Corp.

This confirms an earlier BT report.

The deal

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