Paragon’s value lies in the opportunity for CICT to transform an ageing gem
The trust has the means and expertise to add value to the trophy Orchard Road asset
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[SINGAPORE] Astute real estate investment trust (Reit) managers rejig Reit portfolios to boost returns to unitholders.
The manager of market leader CapitaLand Integrated Commercial Trust (CICT) is doing just that with the trust’s proposed purchase of a 100 per cent interest in Paragon and sale of all of Asia Square Tower 2.
Grade A office space and ancillary retail space at Asia Square Tower 2 in the Marina Bay precinct is being sold at an agreed property value of S$2.476 billion – 9.9 per cent above the independent valuation of S$2.252 billion as at end-2025.
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