Alibaba buys 50% stake in Singapore office building
Alibaba Group has bought over 50% shares of the AXA Tower. This move not only signals the importance of Singapore as a key digital hub in Asia and the confidence Alibaba placed on the real estate in Singapore amid the Covid-19 pandemic. Given the fundamentally strong economy and decisive government policy that is swift and effective. Singapore is seen as the country that will recover well and investor will come back with a vengeance once this crisis is cleared.
Penrose Condo is located in the popular city fringe district 14 under the Kallang URA Masterplan and only few minutes stroll to Aljunied MRT station ,with wide array of amenities surrounding the development including the upcoming Greater Southern Waterfront.
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Source:https://www.bloomberg.com/news/articles/2020-05-06/alibaba-buys-1-2-billion-stake-in-singapore-office-building
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