QIA bought Asia Square for $3.4b

Qatar Investment Authority (QIA) bought the 43-storey office tower from US PE giant BlackRock. The psf figure based on this sale price is at $2720, lower than the $3520 psf offered for Straits Trading Building a week ago. The net lettable aread is at 1.25m sqft, at a yield in excess of 3%. The anchor tenant is Citibank, together with Google and Julius Baer. QIA also own the Raffles Hotel and other properties.

Asia-Square-Tower-1-and-2

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