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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

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Frasers Tower, which stands on a 99-year leasehold site, has 32 office floors starting at Level 5. There is also an adjacent three-storey cascading retail podium with a roof garden, and a three-storey basement car park.

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...

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