The Business Times
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Singapore property

AEW’s S$675m Westgate Tower purchase adds to Singapore office deals momentum

Indonesian tycoon Sukanto Tanoto, Bright Ruby Resources and CDL-BlackRock tie-up seen to have submitted revised offers for Income At Raffles. Baring Private Equity Asia is in exclusive due diligence for Parkview Square.

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Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Jun 15, 2022 · 05:50 AM
    • Westgate Tower near Jurong East MRT Station is on a site with 88 years balance lease.
    • The 999-year leasehold Income At Raffles at 16 Collyer Quay has been put up for sale by NTUC Income Insurance Co-operative, which is being corporatised.
    • Parkview Square, near Bugis MRT station, is on a site with about 74 years' balance lease.
    • Westgate Tower near Jurong East MRT Station is on a site with 88 years balance lease. GOOGLE MAPS
    • The 999-year leasehold Income At Raffles at 16 Collyer Quay has been put up for sale by NTUC Income Insurance Co-operative, which is being corporatised. BT PHOTO: YEN MENG JIIN
    • Parkview Square, near Bugis MRT station, is on a site with about 74 years' balance lease. GOOGLE MAPS

    THE Singapore office investment sales market continues to gather momentum, notwithstanding headwinds from geopolitical uncertainty and rising interest rates.

    Investor interest seems to be extending beyond the central business district (CBD).

    The Business Times (BT) understands that US-based real estate investment manager AEW is buying Westgate Tower - a 20-storey office block near Jurong East MRT station - from Sun Venture Group for about S$675 million.

    Singapore officesSingapore property

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