13 November 2007 - MGPA, a private equity real estate fund management company, has been announced as the highest bidder for Land Parcel B (the Site) at Marina View in Singapore, which was offered for sale by the Urban Redevelopment Authority (URA), Singapore's national land use planning authority.

The Site is 99 year leasehold land, which measures 96,213 square feet with a maximum permissible gross floor area (GFA) of 1,222,585 square feet. The property is ideally located in the Marina Bay Business and Financial Centre and is surrounded by two existing and two planned MRT stations.

This announcement follows MGPA's successful bid in September for Land Parcel A at Marina View.

In Asia, MGPA funds have also acquired properties in Japan, Hong Kong, South Korea and Malaysia.