Real estate fund manager ARA Asset Management Ltd. and UK property group Chelsfield are listing their jointly owned Singapore office building for about $800 million, according to people with knowledge of the matter.

The asking price for the building -- located near the famous Orchard Road shopping belt and just 10 minutes drive away from the financial district -- translates to $3,319 per square feet, the people said, asking not to be identified as the matter is private. 

The 11-story office and retail space, which measures over 241,000 square feet, currently houses Chinese tech giant Alibaba Group Holding Ltd. and its Southeast Asian online shopping unit, Lazada Group.

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