KKR has made its first real estate office investment in Singapore with the acquisition of Twenty Anson, a prime-grade office building in Singapore’s central business district (CBD).
Completed in 2009, Twenty Anson is a 206,163-square-foot commercial building in the heart of the Tanjong Pagar precinct and part of Singapore’s CBD.
The building sits at the nexus of multiple new office, hotel and retail, and residential developments, and is situated near public transportation networks.
The prime-grade asset is also recognized for its Environmental, Social, and Governance (ESG) credentials, having attained both LEED Certified Gold and the BCA Green Mark Platinum certifications.
KKR said the transaction reflects its confidence in Singapore’s position as a leading regional financial hub and the long-term prospects of its office real estate market.
Jeremy Chee, Principal and KKR’s real estate lead in Southeast Asia, said, “Our acquisition of Twenty Anson is aligned with our strategy of pursuing opportunities in Southeast Asia, including in Singapore that will benefit from long-term tailwinds such as the city-state’s status as a leading destination for corporations’ Asia headquarters, and as Singapore re-opens and stabilizes in a post-COVID environment. We are also attracted by Twenty Anson’s strong ESG credentials, which tenants increasingly seek and complements KKR’s global expertise in ESG.”
”In Singapore and Southeast Asia, KKR continues to be confident about commercial real estate opportunities on the back of market trends and strengthening macroeconomic tailwinds. Sustainable real estate is also a focus, given the region’s growing emphasis on sustainable cities and as urbanization continues to drive development,” said KKR.
Tom Lee, Managing Director of Real Estate at KKR, added, “We are excited to make our first real estate office investment in Singapore with Twenty Anson, a high-quality asset strategically located in the up-and-coming Tanjong Pagar precinct. We are optimistic about Singapore’s economic growth and the long-term prospects of its office real estate sector, buoyed by the country’s strong recovery from the pandemic, macro tailwinds, and supportive government policy. Singapore continues to be a key part of our real estate strategy.”