The Business Times
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HOCK LOCK SIEW

Locally listed landlords face tough calls as Singapore office property market reprices

Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, May 24, 2023 · 05:50 AM
    • MPACT is said to be eyeing S$880 million for its Mapletree Anson office tower.
    • An expression-of-interest exercise has been conducted for a half-stake in Qatar Investment Authority's Asia Square Tower 1 (on the right).
    • Selling a half stake in the Keppel South Central project, expected to be completed in Q4 2024, would befit Keppel Corp's asset-light strategy.
    • MPACT is said to be eyeing S$880 million for its Mapletree Anson office tower. PHOTO: GOOGLE MAPS
    • An expression-of-interest exercise has been conducted for a half-stake in Qatar Investment Authority's Asia Square Tower 1 (on the right). PHOTO: GOOGLE MAPS
    • Selling a half stake in the Keppel South Central project, expected to be completed in Q4 2024, would befit Keppel Corp's asset-light strategy. PHOTO: KEPPEL

    NO SINGAPORE office building has sold for S$500 million or more since last June. Institutional investors – the typical buyers of larger office buildings – are clearly not in the mood to acquire, with borrowing costs now exceeding office property yields.

    Nevertheless, a few owners have quietly put their big-ticket office buildings on the market.

    Expression-of-interest exercises closed recently for Mapletree Anson, which is owned by Singapore-listed real estate investment trust Mapletree Pan Asia Commercial Trust (MPACT), and for a half-stake in Qatar Investment Authority’s (QIA’s) Asia Square Tower 1 (T1).

    Hock Lock SiewSingapore officesSingapore propertyCommercial & IndustrialKeppelMapletree Pan Asia Commercial TrustSpotlight

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