Alibaba to buy 50% stake in AXA Tower
With a value amounting S$1.68 billion, 50% of Singapore AXA Tower was acquire by Alibaba Group.
AXA Tower, at 8 Shenton Way, is a 50 level high tower comprising grade A office and retail, 1.05 mil sq ft of gross floor area. She be obtaining approval from authority URA for increase of its floor space to 1.55mil sqft, possibly having residential as well as hotel component.
Alibaba, known competence in e-commerce and technology has been a great surge in current market hence they are also in continuous growth stage. Singapore with its stability of policy and governance and location, appear to attract them.
Midtown Modern is an upcoming new launch, with luxury homes and commercial at level 1 above bugis mrt is located in Singapore central region.
Source: channelnewsasia
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