What’s taking Hongkong Land fund so long to seal Marina One deal?
Hongkong Land’s Marina One commercial acquisition is delayed because the S$5.7 billion asset’s size may require more time to raise equity.
HOCK LOCK SIEW
The sheer asset size may mean the fund could require more time to raise equity
Kalpana Rashiwala
[SINGAPORE] For several months now, market watchers have been expecting Hongkong Land to announce an acquisition of the commercial component of the Marina One complex.
The asset, with an asking price of about S$5.7 billion, comprises about 1.88 million square feet (sq ft) of net lettable area of premium Grade A office space and 140,000 sq ft of retail space.
This is part of a mixed-use project developed by M+S, a 60:40 joint venture between Malaysian sovereign wealth fund (SWF) Khazanah Nasional and Singapore state investor Temasek.
source: The Business Times https://www.businesstimes.com.sg/opinion-features/whats-taking-hongkong-land-fund-so-long-seal-marina-one-deal
