Singapore commercial property

Tribunal highlights the importance of finality, saying the company should not be allowed to ‘cherry-pick’

Still, unitholders vote overwhelmingly in favour of the proposed acquisition, with 99.96% of votes for it

The government will also pilot schemes in some precincts to test how space can be used to make the city centre more vibrant

The price gap between buyers and sellers has narrowed – small enough to find a negotiated middle ground

Analysts expect prime retail rents to rise by 1 to 4% in 2026

Local private equity firm TE Capital is said to be the prospective buyer

Deal, to be partly funded by S$2.5 billion divestment of Asia Square Tower 2 to IOI, seen as ‘tactical swop’; may yield redevelopment potential on freehold Orchard Road parcel

Divestment is priced at a 23% premium to the property’s most recent book valuation

The portfolio comprises 36 strata retail units and a basement car park with 80 lots