Khazanah, Temasek seen putting Marina One up for sale at S$5 billion to S$6 billion

[SINGAPORE] Malaysian sovereign wealth fund Khazanah Nasional and Singapore’s Temasek are mulling a sale of Marina One’s office and retail components, which market watchers expect to be put up for sale soon with a total asking price in the S$5 billion to S$6 billion range.

The mixed-use project’s developer, M+S, is understood to have appointed JLL and Eastdil Secured to advise it on the sale. About 1.88 million square feet (sq ft) of net lettable area of premium Grade A office space and 140,000 sq ft of retail space are expected to be put on the market.

M+S is a 60:40 joint venture between Khazanah Nasional and Temasek.