Manulife Buys Singapore Office Tower For $526M
Manulife Real Estate has purchased 8 Cross St. in Singapore, a 28-storey, 355K SF Class-A office tower in the Raffles Place business district, for US$526M. The building is the second-largest in Manulife’s global portfolio to date, and the first acquisition in Singapore, its third-largest market in Asia. The property will house Manulife’s Singapore operations, and president Kevin Adolphe said the deal is a reflection of its expanding commitments in Singapore, where Manulife has had operations for 36 years. Its global real estate investment portfolio includes 62M SF across Asia, Canada and the U.S.