Bidding race heats up for $3.5b Asia Square Tower 1

The deal could be closed in 2 months.

CapitaLand and Keppel Land are up against stiff competition in the race to acquire Asia Square Tower 1.

A report by Bloomberg said that Norway’s sovereign wealth fund is among bidders for the property, which is valued at over $3.5b and currently owned by asset manager BlackRock.

The agreement for Asia Square Tower 1 could be reached over the next 60 days, the report said, citing a person familiar with the deal.

Read the full report here.

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