trending Market Intelligence /marketintelligence/en/news-insights/trending/FGPsS9XpIOTV04_w2zYGfA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: Ara Real Estate-M&G JV nears S$340M deal for Singapore property

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview


Report: Ara Real Estate-M&G JV nears S$340M deal for Singapore property

A joint venture between the Ara Asset Management Ltd.-managed Ara Real Estate Partners Asia II LP and U.K. investment firm M&G is believed to be nearing a deal worth about S$340 million to acquire a commercial building in Singapore's financial district, Mingtiandi reported, citing a source familiar with the transaction.

While the details of the joint venture's structure were not revealed, the news platform identified Homax Pte. Ltd., a private company controlled by the family of Taiwanese billionaire Tsai Tseng-yu, as the vendor of the Robinson Centre at 61 Robinson Rd. under the rumored Sakal Real Estate Partners-brokered deal.

The Robinson Centre is a 20-story building with a net leasable area of about 132,300 square feet. It has 76 years remaining on its 99-year leasehold tenure and is leased to various local and international tenants including banks, financial companies and consultancy firms, Mingtiandi noted.

Ara Asset declined to comment regarding the potential transaction, while Sakal Real Estate did not reply to an inquiry at the time of publication, the Dec. 16 report added.

As of Dec. 16, US$1 was equivalent to S$1.35.