US$8bn Deal Creates Largest Real Estate Group in Asia

Photo: Yahoo finance

Singapore-based real estate developer CapitaLand announced in January that it had reached an agreement with Temasek to purchase Ascendas-Singbridge Pte Ltd in a deal worth US$8bn that would create the largest diversified real estate group in Asia.

Ascendas-Singbridge manages three listed trusts, Ascendas Reit, Singapore’s first industrial and business space trust; Ascendas India Trust, the first Indian property trust in Asia; and Ascendas Hospitality Trust, which has a portfolio of 14 hotels in Australia, Korea, Japan and Singapore. It’s flagship projects include Singapore Science Park and Changi Business Park in Singapore, as well as Dalian Ascendas IT Park and Singapore Hangzhou Science and Tech Park in China.

CapitaLand is one of the largest real estate developers in Southeast Asia with major projects in the region including in Cambodia and Vietnam.

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