CapitaLand confirms talks to buy Asia Square Tower 1
The deal involving the consortium of property developer CapitaLand and the Norwegian sovereign wealth fund could value Asia Square Tower 1 at more than S$3.5 billion, reports Bloomberg News.
POSTED: 14 Oct 2015 17:00
SINGAPORE: Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building.
Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's central business district. Bloomberg said the deal could value Asia Square Tower 1 at more than S$3.5 billion.
CapitaLand said that as discussions are still ongoing, there is no certainty that a transaction will materialise.
Should the deal proceed, CapitaLand said it anticipates drawing upon internal sources of funds and available credit lines. As of Jun 30, 2015, CapitaLand had about S$3.5 billion in cash and cash equivalents and approximately S$3.1 billion in available undrawn credit facilities.
Asia Square Tower 1, which is owned by asset manager BlackRock, counts Citigroup and Swiss private bank Julius Baer among its main tenants.
- CNA/xq
- wong chee tat :)
Showing posts with label Julius Baer. Show all posts
Showing posts with label Julius Baer. Show all posts
Wednesday, October 14, 2015
Thursday, June 30, 2011
62% of office space at Asia Square Tower 1 leased out
62% of office space at Asia Square Tower 1 leased out
By Jonathan Peeris | Posted: 28 June 2011 1837 hrs
SINGAPORE : Asia Square Tower 1, located at Shenton Way, has already leased out 62 per cent of its office space and pre-let more than half of the building.
The developers of the building, MGPA, gave the update after it was awarded its Temporary Occupation Permit (TOP) on June 21.
MGPA said it was awarded the land parcel in September 2007 and construction was completed in less than four years, making it the fastest development of this scale in Singapore to achieve completion within the time frame.
Asia Square Tower 1 comprises close to 1.3 million square feet of Grade A office space across 43 floors.
Among its future tenants are Google, Julius Baer, Lloyd's of London, Marsh & McLennan Companies and Citic Bank.
Its largest tenant, Citibank, will move in this September, with its retail branch operational by November.
Another important element of Asia Square is the food & beverage and retail space which is close to being fully leased out.
The Pure Fitness Centre will be the largest gym and fitness facility in the CBD, taking up 32,300 square feet of space, with the latest in fitness technology and training programmes.
Meanwhile, the fourth quarter of 2013 will see the completion of Asia Square Tower 2, which will add about 800,000 square feet of Grade A office space and a 305-room luxury five-star hotel under the Westin brand.
- CNA/al
- wong chee tat :)
By Jonathan Peeris | Posted: 28 June 2011 1837 hrs
SINGAPORE : Asia Square Tower 1, located at Shenton Way, has already leased out 62 per cent of its office space and pre-let more than half of the building.
The developers of the building, MGPA, gave the update after it was awarded its Temporary Occupation Permit (TOP) on June 21.
MGPA said it was awarded the land parcel in September 2007 and construction was completed in less than four years, making it the fastest development of this scale in Singapore to achieve completion within the time frame.
Asia Square Tower 1 comprises close to 1.3 million square feet of Grade A office space across 43 floors.
Among its future tenants are Google, Julius Baer, Lloyd's of London, Marsh & McLennan Companies and Citic Bank.
Its largest tenant, Citibank, will move in this September, with its retail branch operational by November.
Another important element of Asia Square is the food & beverage and retail space which is close to being fully leased out.
The Pure Fitness Centre will be the largest gym and fitness facility in the CBD, taking up 32,300 square feet of space, with the latest in fitness technology and training programmes.
Meanwhile, the fourth quarter of 2013 will see the completion of Asia Square Tower 2, which will add about 800,000 square feet of Grade A office space and a 305-room luxury five-star hotel under the Westin brand.
- CNA/al
- wong chee tat :)
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