AEW selling 55 Market Street to Kajima unit for nearly S$287m

The price for the 999-year building in the Raffles Place financial district works out to about S$3,450 psf on net lettable area

Kalpana Rashiwala

Published Wed, Feb 23, 2022 · 05:50 AM

Singapore offices

Singapore

US-BASED real estate investment manager AEW is selling 55 Market Street to an indirect wholly-owned Singapore-based real estate unit of Tokyo-based Kajima Corporation, for nearly S$287 million, The Business Times understands.

The price for the 16-storey, 999-year leasehold building in the Raffles Place financial district works out to about S$3,450 per square foot on the net lettable area (NLA) of 83,000-plus sq ft.

Standing on a land area of 6,575 sq ft, 55 Market Street has 15 floors of offic…