KUALA LUMPUR – CapitaLand Group and Hongkong Land Holdings are among possible bidders for the Marina One high-rise complex in Singapore’s central business district, according to people familiar with the matter.
Marina One is owned by M+S Pte, a joint venture of Malaysian sovereign wealth fund Khazanah Nasional and Singapore state investor Temasek, who are seeking around $5.7 billion for the asset, some of the people saide.
The high price target has been an obstacle to a sale of Marina One, which could also attract other suitors, possibly in a consortium, some of the people said.
The Business Times reported in January that Khazanah and Temasek were considering a sale at $5 billion to $6 billion. Marina One includes 1.88 million square feet (175,000 square metres) of office space, 140,000 square feet of retail space, as well as some apartments in the complex.
Deliberations around Marina One are still at an early stage and might not result in a transaction, the people said.
Temasek and Khazanah declined to comment. Representatives for CapitaLand, which is owned by Temasek, and Hongkong Land didn’t respond to requests for comment. M+S also didn’t respond to requests for comment.
Hongkong Land set up its Singapore Central Private Real Estate Fund in 2026 to focus on high-end commercial property. It already has assets in Asia Square and Marina Bay Financial Centre, as well as One Raffles Quay and One Raffles Link. Backers include Dutch pension fund APG Groep and the Qatar Investment Authority.
CapitaLand has a private developer arm and listed asset manager with stakes in real estate investment trusts and private funds. BLOOMBERG
