Singapore buys Tokyo's Pacific Century Place

GIC has acquired through its affiliate, the office component of Pacific Century Place Marunouchi in Tokyo.  The section consists of levels 8 to 31 of the 32-storey mixed-use development, which has a gross floor area of 81,692 sq.m. The Pacific Century Place has also been awarded the highest Comprehensive Assessment System for Built Environment Efficiency (CASBEE) rating, proving its cutting edge sustainability standards. Aside from the office, the Pacific Century Place Marunouchi building also comprises the Four Seasons Hotel Tokyo, as well as retail and F&B outlets.  Said GIC Real Estate co-head of Asia Lee Kok Sun, "As a long-term value investor, GIC believes Pacific Century Place Marunouchi gives us a combination of stable income and the potential for capital appreciation over the long term. The attractions of the property are its prime location, superior building quality, and quality tenants. This investment demonstrates our confidence in Japan and specifically, the Tokyo office market over the long run."  Read Also:  GIC's warning on investment climate in next decade GIC invests USD104m in Taiwan music streaming service