
Why AXA Tower could possibly go en bloc
But its tenant Lazada plans to take up 16.6% of the total leasable area.
Perennial Real Estate Holdings' (PREH) AXA Tower has a potential of an en bloc sale, DBS Equity Research said.
According to a report, total strata sales hit $17m in 2017 at an average price of $2,376psf.
However, some existing tenants have taken up additional space for expansion.
Lazada is expanding 3.6x and taking up 16.6% of total office net lettable area (NLA).
Ride-hailing firm Go-Jek is also looking to expand its premises.
The upgrading and refurbishments at AXA Tower are expected to complete by 2019.
Photo by Terence Ong from Singapore. - 8 Shenton Way., CC BY-SA 2.0