MEAG's sale of Capital Square for around 500 million is the largest sale of an office building in Singapore this year. The buyer is a local consortium of bidders.
The property was acquired in 2002 and since then it has been managed by MEAG Pacific Star Asset Management, a joint venture between Pacific Star and MEAG.
This centrally located class-A property comprises a 16-story office tower and two rows of landmarked buildings with offices and gastronomy. The sale price amounted to more than 13,800 per m².