PGIM Real Estate has been trying to sell a pair of prime office towers in Singapore since last year without success, people with knowledge of the matter said, the latest sign of the country’s softening property market.
Efforts to divest 78 Shenton Way in the central business district have stalled as prospective buyers bid below what the real estate manager bought it for, the people said, asking not to be identified discussing private information.
PGIM Real Estate acquired the 362,051 square foot (33,636 square meter) development in late 2018 for S$680 million ($498 million) from a private fund management arm ...
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