Top Floor of Singapore Stock Exchange Building Sold and More Asia Real Estate Headlines

The heirs of Singapore tycoon SP Tao are selling their office space at the top of the SGX headquarters building, with that deal leading today’s headline roundup. Also in the news, a BlackRock JV acquires a Sydney life sciences building and data centre firm Stack seeks a loan to fund expansion in Australia.

Heirs of Singapore Tycoon Selling Top Floor of SGX Centre 2 in $30M Deal

The family of the late Singapore tycoon SP Tao is selling its space on the top two levels of the 29-storey SGX Centre 2 in Shenton Way for a total of S$39.5 million ($30.3 million).

The deal works out to S$2,629 per square foot for the total strata area of 15,026 square feet (1,396 square metres). SGX Centre, comprising a two-tower office building and podium, is on a site with 99-year leasehold tenure from November 1995, with a balance of 69.5 years. Read more>>

BlackRock JV Buys Aqualand Life Science Building for $128M

Australian developer Aqualand has sold a A$200 million ($128.4 million) life sciences property in northern Sydney to Wentworth Capital, which last year started assembling a A$1.5 billion fund in the asset class with global juggernaut BlackRock.

The property in the North Ryde suburb houses state-of-the art research facilities and is anchored by Commonwealth Scientific and Industrial Research Organisation as a tenant. The asset is expected to end up in the fund geared towards occupiers that need laboratories to run clinical trials. Read more>>

Stack Seeking $833M Loan to Expand Australia Data Centres

Blue Owl Capital-owned data centre operator Stack Infrastructure is seeking a A$1.3 billion ($833 million) loan, according to people familiar with the matter, as demand for artificial intelligence and cloud services accelerates in Asia.

The proceeds of the five-year loan will fund the US-based firm’s data centre buildout in Australia, said the people, who asked not to be identified discussing a private matter. Deutsche Bank, MUFG, Natixis, OCBC and Societe Generale are the mandated lead arrangers and bookrunners on the deal, which is being syndicated to the broader market, the people said. Read more>>

Singapore Collective Sale Halted as Owners Tussle 

The S$810 million ($622.3 million) collective sale for Thomson View Condominium has been met with a stop order, the Business Times has learned.

The order from the Strata Titles Board was issued on 19 March, a spokesperson for the STB told the newspaper. The directive, which puts a stop to the condo’s en bloc sale process, was issued after efforts to mediate and resolve objections raised to the sale were unsuccessful. Read more>>

Equinix Boosts 2025 Outlook as Revenue Outperforms

Equinix on Wednesday said it now expects full-year revenue between $9.175 billion and $9.275 billion, compared with its previous forecast of $9.033 billion to $9.133 billion, due to robust demand for its data centre services, sending its shares up 3 percent after the bell.

The US digital infrastructure company benefited from steady spending by hyperscalers who rent data centres and other services. The company now sees annual per-share funds from operations, a key measure of cash flow, of $37.36 to $38.17. It earlier expected FFO to be between $36.69 and $37.51 per share. Read more>>

New Zealand Telco Seeks Co-Investor for Data Centre Platform

Dual-listed Spark New Zealand has launched an auction to find a co-investor for its data centre portfolio, which could be worth as much as NZ$1.2 billion ($1.1 billion).

The country’s biggest telecom has mandated Jarden to seek buyers for a stake in the platform, which has 22 megawatts in capacity up and running and more than 118MW in development capacity across high-demand cities like Auckland. Read more>>

Korea’s Capstone Marketing Seoul’s Lotte Insurance Building at $160M

Lotte Insurance’s office building, the Etiverse Tower (formerly the Lotte Insurance Building), is up for sale at KRW 224 billion ($160 million), four years after Capstone Asset Management acquired the property. Lotte Insurance has been leasing the building back under a sale and leaseback contract.

Capstone recently sent out requests for proposals to facilitate the sale and plans to select a lead manager soon and initiate formal procedures. Read more>>

Carlyle Sells Off Stake in India’s PNB Housing Finance

US private equity group Carlyle Group has sold its entire 10.44 percent stake in India’s PNB Housing Finance via block deals, business news website Moneycontrol reported Thursday, citing a term sheet.

Carlyle is the second-largest shareholder in the non-banking finance company and held its stake via an affiliate called Quality Investment Holdings, latest available exchange data showed. “The block trade has been launched at a floor price of INR 960 ($11.40) per share,” Moneycontrol also reported, citing a person familiar with the development. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.