Singapore commercial sales surge 57% to SGD2.5b in Q3

Thanks to two landmark deals during the quarter.

According to a Colliers report, commercial sales in Singapore surged 57.2% QoQ to SGD 2.5 billion in Q3.

“This growth was boosted by the sale of a 55% stake in the office component of CapitaSpring to CapitaLand Integrated Commercial Trust for SGD 1.05 billion and the disposal of JEM’s office component to Keppel’s Sustainable Renewable Fund for SGD 462 million,” the report said.

Here’s more from Colliers:

Notably, the sale of offices at Lian Huat Building, with potential conversion to co-living, reflects evolving investor strategies targeting adaptive reuse opportunities.

Retail assets also featured with the KINEX retail component changing hands for SGD 375 million to a Chinese investor.