Singapore industrial sales increase sevenfold to S$2.5b in Q3

Find out what the notable transactions were.

In Q3/2024, the industrial sector in Singapore logged in a sales value of S$2.45 billion according to Savills data, a sevenfold jump from the previous quarter’s low of S$282.8 million. This significant rebound was driven by several large private industrial deals. 

In a report, Savills revealed that the notable transactions included a S$1.6 billion acquisition of a portfolio of business parks and specialist facilities by a consortium consisting of US-based global investment firm Warburg Pincus and Australian real estate group Lendlease; ESRLOGOS REIT’s purchase of a 51.0% interest in a high-specifications manufacturing facility with ramp-up logistics warehouses at 20 Tuas South Avenue 14 (20TSA) for S$428.4 million; and Ho Bee Land’s divestment of a 49.0% interest in Elementum, its landmark biomedical life-science development in one-north, for nearly S$272.0 million.