Singapore's property investment market surged in the third quarter, rising on the back of a buoyant office sector. Property consultant DTZ said total investment sales in the third quarter totalled S$6.1 billion, up by some 23 per cent from the previous quarter's S$5 billion. A rebounding office sector helped transactions in office properties to cross the S$1 billion mark, a level not breached since the...
Property Investment Sales
Chevron House at Raffles Place has been sold for $547 million to a fund management Deka Immobilien of Germany, taking the total value of Singapore office investment sales deals this year to around $3 billion. The price works out to around $2,083 per square foot based on the net lettable area (NLA) of 262,650 sq ft. Formerly known as Caltex House, Chevron House is a 33-storey building on a site with a...
The property investment market in Singapore recorded S$5.91 billion in sales for the third quarter of 2010. This is an 86 per cent on-year growth, according to property research firm Jones Lang LaSalle (JLL). However when compared to the previous second quarter, investment property sales slipped eight per cent. Still, there are several deals under conditional contracts worth more than S$590 million and...
IBIS Singapore on Bencoolen, a three-star hotel, has been sold just 18 months after it opened its doors. Details were not disclosed but it is understood a Singapore private investor paid a figure above $200 million for it. The hotel was put up for sale via a private tender in June by joint owners LaSalle Investment Management and French hotel group Accor. They announced the sale yesterday, but did not...
Property consultants Colliers International says Singapore's investment sales market strengthened further in the quarter that ended in June turning in sales of S$7.11 billion. That's 24.3 per cent above the S$5.72 billion chalked up in the first quarter of this year. Colliers released the information in its latest Knowledge Report Tuesday. It found that the investment sales market was driven...
Property consultant DTZ Research said Singapore's investment sales market is seeing an increase in larger deals sealed. For the second quarter this year, there were 15 deals worth over S$100 million totalling some S$3.5 billion. Such deals make up nearly three-quarters of the total investment value of S$4.71 billion in the second quarter. The figure is much higher than the nine transactions of over...
77% of total sales of $4.4b came from private market THE investment sales market strengthened further in the first quarter of 2010, as robust sales of residential government land sale (GLS) sites showed developers' hunger for land. Total investment sales came up to $4.41 billion in the first quarter, 16 times more than the paltry $273.83 million in Q1 last year, a CB Richard Ellis report said...
Property consultancy CB Richard Ellis (CBRE) on Wednesday said activity in the real estate investment sales market has started to strengthen with the recovery of the Singapore economy. In the first three months of the year, sales of residential Government Land Sale sites have come up to nearly S$935 million. Activity in the commercial sector, as well as the industrial sector, also picked up. CBRE said...
Singapore's investment property market seems to be shrugging off the global financial crisis and is staging a robust comeback. Property consultant C B Richard Ellis said Singapore's investment market performed much better than expected in 2009. It said total real estate investment sales came in at S$10.2 billion. While the figure is 43 per cent less than the S$17.9 billion number set in 2008, it is still...
Property consultancy DTZ said on Thursday investment sales here tripled in the third quarter of this year. Total property investment value in the July to September period jumped 200 per cent on-quarter to S$2.3 billion. Historically though, the figure is still below the S$4 billion to S$12 billion mark achieved quarterly between 2005 and 2008. DTZ attributed the increase in investment sales in the third...