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| Deka acquires Singapore office tower Property giant Savills has advised Deka Immobilien in its acquisition of an office building in the heart of Singapore's Central Business District. Deka bought Chevron House from Goldman Sachs for approximately US$420 million (€311 million). The 262,650 ft² (24,400 m²) building comprises a four-story retail podium with a basement that links directly to the Raffles Place MRT Station and a prime 29-story office tower. Deka has been actively looking to enter the Singapore office market and Chevron House fits its Global fund's primary requirement producing an initial yield of 4%, with strong potential for future rental growth and a number of asset enhancement opportunities. write your comments about the article :: © 2010 Construction News :: home page |