PGIM Real Estate close to deals at 108 Robinson Road
The firm’s Asia-Pacific head says the office market in Singapore continues to be strong despite companies restructuring and cutting costs
PGIM Real Estate has received firm offers and is close to sealing deals on two floors at 108 Robinson Road, since it began selling strata office space at the downtown office building in March.
“The freehold tenure of the building has received strong interest from discerning small businesses, private wealth and family offices who are keen on long-term wealth preservation,” a PGIM Real Estate spokesman told The Business Times (BT).
Three floors of the freehold building – levels 5, 6 and 8 – were put up for sale at a guide price of S$18.2 million per floor, or about S$3,850 per square foot (psf). Each of the three office floors is about 4,800 sq ft in size.
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