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Qatari fund buys Singapore office tower for record $2.45bn

Qatar Investment Authority is buying Singapore's Asia Square office tower for a record $2.45 billion.

SINGAPORE -- Sovereign wealth fund Qatar Investment Authority has agreed to acquire a 43-storey office tower in Singapore from U.S. asset manager BlackRock for approximately $2.45 billion, the largest-ever deal for a commercial tower in the Asia Pacific region.

Asia Square Tower 1 is among the largest office towers in Singapore's Marina Bay district, a prime business and financial location in the city-state. The building comprises around 110,000 sq. meters of office space and 3,700 sq. meters of retail space, housing major companies including Citibank.

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