Home Uncategorized Blackstone to Buy Disney’s Singapore Building for $132 Million (Report)

Blackstone to Buy Disney’s Singapore Building for $132 Million (Report)

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Blackstone to Buy Disney’s Singapore Building for $132 Million (Report)
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The iconic Sandcrawler building, built as Javas’ vehicle from ‘Star Wars IV’, has served as Lucasfilm’s primary animation and VFX facility in Asia since it opened in 2013 by George Lucas.

The Blackstone Group has begun the process of purchasing Lucasfilm’s flagship building in Singapore for $ 132 million ($ 175 million Singapore).

The iconic commercial development, known as the Sandcrawler Building, is a facade built from Star Wars IV on Tatuin as Javas’ vehicle. The home of Lucasfilm’s animation and VFX teams in Asia, everything from Harry Potter films to Marvel tentpoles and Star Wars installments have been worked on. The building also houses Disney’s corporate offices for Southeast Asia.

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Blackstone has already submitted to regulatory authorities in Singapore to approve the transaction, according to Bloomberg, which was the first to report on the deal. Trade Wire cited anonymous sources with knowledge of the transaction.

The Walt Disney Company did not immediately respond to the Hollywood Reporter’s request for comment.

Disney unveiled the Sandcrawler facility at a spectacular event in 2013, with speeches by George Lucas, Kathleen Kennedy, and Singapore Prime Minister Lee Hsien Loong.

Spread over approximately 250,000 square feet, the Sandcrawler Building is located in the south-west suburb of Singapore, where several other media and tech companies such as Apple and Discovery have offices. The property includes a 100-seater theater, shopping area, and a “Yoda fountain” surrounded by tropical gardens.

The salable sales point to Singapore’s growing appeal among global real estate investors and multinationals. China’s drastic action on democratic freedom and the rule of law in Hong Kong has led some companies to shift their operations and investment southward to a stable city.

The growing economies of Southeast Asia have also enticed large companies. Bloomberg noted that both Amazon and Facebook are increasing their footprint in the city, while China’s tech giants Tencent and ByteDance also want to expand their presence.

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