20 Mar '11, 9pm

Keppel, NTUC Income to buy Capital Square for S$889m

SINGAPORE - In what is the Republic's biggest office property transaction so far this year, Alpha Investment Partners (AIP) - a wholly-owned real-estate fund management arm of Keppel Land - and insurer NTUC Income have agreed to jointly acquire Capital Square for about S$889 million from its current owner, Queensley Holdings. Capital Square is a prime commercial property in Singapore's Central Business District and the price works out to approximately S$2,300 per sq ft. The property has a 16-storey Grade A office tower and two rows of heritage shop houses and a net lettable area of 386,525 sq ft. It is home to the offices of Citibank, Morgan Stanley and Bloomberg and boasts one of the largest column-free office floor plates in the Raffles Place area. The property was developed by Keppel Land which, in 2002, sold its 70-per-cent interest in Capital Square to Queensley, a sp...

Full article: http://www.todayonline.com/Business/EDC110321-0000185/Kep...

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Keppel Land, NTUC Income to acquire Capital Square

channelnewsasia.com 20 Mar '11, 8am

SINGAPORE : Keppel Land and NTUC Income have agreed to jointly acquire Capital Square for S$889 million. Under the deal, K...

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