AIMING to cash in on the upturn in the Singapore office market, Alpha Investment Partners and City Developments Ltd (CDL) are understood to have put Manulife Centre in Bras Basah Road, and 7 & 9 Tampines Grande up for sale through separate expressions of interest exercises.
The total price tag of the two assets exceeds S$1 billion, The Business Times understands.
The vendors are looking at prices in excess of S$550 million for Manulife Centre, which works to about S$2,270 per square foot based on the 11-storey commercial building’s net lettable area (NLA) of about 242,000 sq ft.
The building has retail space on street level and offices above.
MAPLETREE Investments has entered into a cooperation pact with Chinese courier group SF Express to establish a long-term strategic partnership to collaborate in logistics networks.
The official signing of a cooperation framework agreement between both parties took place last Tuesday.