Korea pension fund expected to take stake in Frasers Tower
A deal is expected to value the entire property at slightly under S$2,900 per square foot on net lettable area, or close to S$2 billion
Singapore
SOUTH Korea's National Pension Service (NPS) is expected to take a stake in Frasers Tower in Singapore's Central Business District, The Business Times understands.
Market watchers note that NPS has been doing exclusive diligence on the acquisition for some time, for a 50 per cent stake in the 38-storey, premium Grade-A specification office building on Cecil Street.
TRENDING NOW
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Chagee, Mixue and Luckin won the market. Sustaining their edge is the harder part
Canada is upping oil flows to Asia, but South-east Asia’s refineries aren’t ready to handle them yet
