Other parties also remain interested in the asset, which is located in the Bugis area on the fringe of Singapore’s central business district, the people said. The project’s owner is separately seeking a buyer for the hotel portion of the development in a deal that could fetch as much as $500 million, according to the people.
SINGAPORE (Mar 20): CapitaLand Commercial Trust (CCT), Singapore’s biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said.
The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The property could be valued at more than $1.5 billion, one of the people said, asking not to be identified because the information is private.
