The discussions have been shut down (at least temporarily) for BlackRock and a group of other developers (including CapitaLand and Norges Bank) as regards the sale of Asia Square Tower 1, a venture which would be the largest office based deal in the country, if successful. Norges Bank Investment Management handles the sovereign wealth fund in Norway. BlackRock is the biggest asset supervisor in the world for Sturdee Road Condo.

The rumours on the market say that BlackRock is also in discussions with another developer. This party was shortlisted after the completion of an expression of interest venture for the toiwer last year. The prospective buyer is thought to be a group brought together by ARA Asset Management. It includes the Kora Investment Corporation and the California Public Employees Retirement System.

Asia Square SL Capital Sustained Land Condo

All requests for a statement from ARA are outstanding in Bendemeer Road …