Centrum Stosunków Międzynarodowych - 12 June 2016: Qatar Investment Authority acquires $2.5bn Singapore tower

Sovereign wealth fund Qatar Investment Authority (QIA) has purchased a 43-floor office building in Singapore from American private company “BlackRock” for $2.45bn. According to BlackRock, Currently, this is the largest single tower realty deal in the Asia-Pacific region, moreover, it is the second largest deal globally. Initially, BlackRock put the tower up for sale with a price of about $2.9bn, which is more than transaction price at $450m. , but a year after the transaction was closed at $2.45bn. The office tower is located in Singapore’s Marina Bay business and financial district and bears the branding of its permanent lessee Citibank.

There are other famous lessees of the tower like Google, White and Case and Lloyds bank.
Such purchase brings Singapore office rents into a pressure from a wave of new buildings at the same time, bank reductions also cause demand for office space.