06.06.2016 - Qatar State Fund Buys Singapore Office Tower for S$3.4 Billion
Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, agreed to buy BlackRock Inc.’s Asia Square Tower 1 for S$3.4 billion ($2.5 billion) in the biggest office transaction in Singapore. Qatar will purchase the officer tower in the central business district in the largest single-tower sale in the region, according to a joint statement from Qatar Investment Authority and BlackRock Monday. The building has been on the market since last year after bids by a consortium of Norway’s sovereign wealth fund and CapitaLand Ltd., Singapore’s largest developer, and rival bids by ARA Asset Management Ltd. failed to clinch the deal...............................................Full Article: Source
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