Office unit at Suntec City Tower 1 sold for $11.5m

Suntec City end-users and family offices were sought by investors from China, Hong Kong and India.

An office unit at Suntec City Tower 1 was sold for $11.5m, according to Savills Singapore.

Savills said selected floors at offices in Suntec City are “arguably the only strata floors” in Singapore that have unobstructed views of the city skyline, waterfront, Marina Bay district, Kallang River, and Singapore Sports Hub.

Sophia Lim, director from Savills Investment Sales & Capital Markets, said that offices in Suntec City have always been much sought after by investors, particularly those from Hong Kong, China, and India.

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“We have observed strong renewed interest from these groups of buyers following the successful completion of the asset enhancement works for Suntec City last year,” Lim said.

“The asset enhancement works included the upgrading of entrance lobby, reception, concierge area, lift lobbies and restrooms, further strengthening the value proposition of the office floors,” she added.