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Report: AAIG may sell stake in A$700M Australian tower

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Report: AAIG may sell stake in A$700M Australian tower

AAIG may sell a stake in the estimated A$700 million Capital Square Tower One building in Perth, Australia, after completing the project, The Australian reported, citing unnamed sources.

Several local and international groups have shown interest in the stake sale, which could be one of the biggest transactions of its kind in the city if the deal pulls through.

The Malaysian-backed property developer is close to completing the development of the 32-floor office tower, just in time for it to become Woodside Energy's headquarters on a long-term lease.

Woodside Energy plans to leave its current 40,000-square-meter office at DEXUS Property Group's Woodside Plaza, according to the March 30 report.

As of March 29, US$1 was equivalent to A$1.31.