50 per cent stake in retail portion of Malacca Centre in Raffles Place also transacted INVESTMENT sales of property have been gathering momentum in the private sector, with several deals inked recently. They include the Park Regis hotel at New Market Street/Merchant Road near the Singapore River, which is said to have been sold for $218 million to Indonesian mining magnate Yusuf Merukh. Separately, a 50...
Singapore Investment Sales
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...
Property consultancy CB Richard Ellis (CBRE) said on Thursday total investment sales in the real estate sector grew to a whopping S$4.87 billion in the first quarter this year. This was 18 times higher compared to the S$273.8 million in transacted value posted in the first quarter last year. In its latest report, CBRE said the brisk sale of government land sale (GLS) sites in the first quarter, which...
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...