This was Singapore’s largest commercial property deal in Q3

The transaction was worth over S$1 billion.

In Q3/2025, the commercial sector in Singapore recorded a total of S$2.52 billion in investment sales, a sharp increase from S$426.9 million in the previous quarter.

According to a Savills report, this significant growth was mainly driven by a few big-ticket transactions, alongside a revival of investments in strata-titled units and shophouses. Activity in the market was supported by the low interest rate environment. Investors were particularly drawn to high-quality, income-generating assets.

Here’s more from Savills:

The largest deal of the quarter was CICT’s acquisition of a 55% interest in the commercial component of CapitaSpring for S$1.045 billion, or S$2,822 psf based on net lettable area (NLA). With this acquisition, CICT will gain full control of the 51-storey office tower located in Raffles Place within the Central Business District.

Other notable block transactions concluded during the quarter include: LREIT’s divestment of the office component of Jem in Jurong East for S$462.0 million (S$1,484 psf of NLA), UOL Group’s sale of the freehold Kinex mall, comprising a three-storey retail podium and a basement, in Tanjong Katong for S$375.0 million (S$1,836 psf of NLA), and Lian Huat & Company’s sale of the 11-story Lian Huat Building in Tanjong Pagar for S$90.0 million (S$2,318 psf of gross floor area (GFA)).

Investment activity in strata office units slowed in Q3/2025 after a brief pickup in the previous quarter. Four transactions priced at S$10 million or more each were recorded, involving units in Suntec Tower One, Vision Exchange, and 111 Somerset. On the other hand, investment sales of strata-titled commercial units were largely from the retail market.

Four deals involving strata retail units, each transacted at a minimum of S$10 million, were recorded in Q3, amounting to S$185.4 million, up from two such transactions worth a total of S$64.0 million in Q2.

Deals included: seven retail units on the ground floor of Holland Road Shopping Centre and the basement car park (S$84.0 million), the groundfloor retail unit at GB Building covering Levels 1 and 2 (S$39.2 million), ten strata lots in Yishun 10 (S$34.5 million), and the ground-floor retail unit at 108 Robinson (S$27.7 million).