{
  "id": 2302326,
  "title": "Singapore’s CapitaLand, Malaysian billionaire brothers’ IOI Properties reportedly near $1.9B deal to buy one of city-state’s tallest towers",
  "url": "https://urgent.news/2026/08/21/singapores-capitaland-malaysian-billionaire-brothers-ioi-properties",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-21T04:50:01.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/property/singapore-s-capitaland-malaysian-billionaire-brothers-ioi-properties-reportedly-near-1-9b-deal-to-buy-one-of-city-state-s-tallest-towers-5111632.html"
  },
  "original_language": "en",
  "account": "CapitaLand and Malaysian billionaire brothers Lee Yeow Chor and Lee Yeow Seng are close to finalizing a $1.9 billion deal to acquire Singapore's One Raffles Place, one of the city-state's tallest towers. The iconic development, located in the central business district, comprises two office towers and a retail mall, with a total of 65,000 square meters of gross leasable area and a height of 280 meters. Currently owned by UOB Centre with an 18.46% stake, the property is set to be part of a joint venture between the two companies. UOB is expected to retain its current space post-acquisition. The complex is valued at S$2.37 billion, with OUE REIT indirectly controlling 67.95% interest through its subsidiaries. The sale comes amid Singapore's commercial property market reaching record highs, with deals amounting to $10.3 billion in the first half of 2026.",
  "summary": "IOI Properties, controlled by Malaysian billionaire Lee brothers, and CapitaLand Investment are reportedly close to reaching a deal to buy One Raffles Place, one of Singapore’s tallest buildings, for S$2.4 billion (US$1.9 billion).",
  "key_points": [
    "CapitaLand and Lee brothers near $1.9B deal for One Raffles Place",
    "280-meter tall office tower and retail mall in CBD",
    "UOB Centre retains 18.46% stake post-acquisition"
  ],
  "editors_take": "This deal would mark a significant expansion for CapitaLand and IOI Properties in Singapore's lucrative commercial property market, which has recently reached record highs.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "VnExpress Business",
        "title": "Malaysian billionaire Syed Mokhtar Albukhary’s MMC Corp reportedly shelves port IPO",
        "url": "https://urgent.news/2026/08/21/malaysian-billionaire-syed-mokhtar-albukharys-mmc-corp-reportedly",
        "published": "2026-08-21T04:50:21.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}