We have advised one of Malaysia's largest integrated property developers, IOI Properties Group (KLSE:IOIPG) in relation to its proposed acquisition of Asia Square Tower 2 from CapitaLand Integrated Commercial Trust (SGX: C38U).
Our team, led by partner Tania Toh and assisted by associate Syed Islam, has been advising on the BVI law aspects of the transaction, working closely with IOI Properties Group’s lead counsel, Baker McKenzie.
Driving growth in the real estate industry in Singapore
The transaction is valued at approximately SG$2.5bn (US$1.9bn) and involves Asia Square Tower 2, a Grade A office tower located in the centre of Singapore’s Marina Bay financial district. As outlined in IOI Properties Group’s announcement, the acquisition supports the group’s broader strategy to expand its portfolio of high‑quality assets and strengthen its presence in Singapore’s prime office market.
According to Law.com International, proceeds from the sale are expected to partially fund CapitaLand Integrated Commercial Trust's US$3.1bn acquisition of Paragon, a prime Orchard Road retail asset.
Tania remarked, "The proposed acquisition reflects a focus on high quality, income producing prime office assets in Singapore, a market that continues to be underpinned by relative stability amid wider global uncertainty."
Deep corporate expertise for cross-border transactions
We advise global corporations, financial institutions and investors on complex offshore and cross border transactions, delivering clear, commercially focused advice that helps get deals done. Recognised as a go to offshore law firm across key investment hubs, we support clients in their time zones in fast moving markets.