{"id":117882,"date":"2020-07-21T10:51:32","date_gmt":"2020-07-21T03:51:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-ticket-commercial-deals-bolstered-property-investment-sales-in-q2\/"},"modified":"2020-07-21T11:03:34","modified_gmt":"2020-07-21T04:03:34","slug":"big-ticket-commercial-deals-bolstered-property-investment-sales-in-q2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-ticket-commercial-deals-bolstered-property-investment-sales-in-q2\/","title":{"rendered":"Big-ticket commercial deals bolstered property investment sales in Q2"},"content":{"rendered":"


\nWhile general activity within the real estate market was muted, several big-ticket commercial deals, totalling $1.4 billion, bolstered investment sales during the quarter.
\nSingapore saw property investment sales drop 73.4% year-on-year to $1.7 billion in the second quarter of 2020 from $6.4 billion over the same period in 2019.
\nOn a quarterly basis, investment sales fell 41.4% from $2.9 billion in Q1 2020, reported Singapore Business Review citing a Knight Frank report.
\nRelated article:\u00a0Read about Singaporeans\u2019 attitudes towards the current real estate climate in PropertyGuru\u2019s Singapore Consumer Sentiment Study H2 2020.
\nWhile general activity within the real estate market was muted, several big-ticket commercial deals, totalling $1.4 billion, bolstered investment sales during the quarter.
\nThe biggest deals for Q2 involve Perennial Real Estate Holdings\u2019 $155.1 million divestment of 30% stake in TripleOne Somerset and $840 million divestment of 50% stake in AXA Tower to Shun Tak Holdings and Alibaba Group\u2019s Singapore subsidiary, respectively. These deals formed a substantial proportion of deals inked during the quarter.
\nOxley Holding and Oxley Beryl \u2013 the owners of the former Chevron House \u2013 are recently in the midst of divesting the commercial and retail units of the development for $315 million to Siriti R and Siriti C.
\nThe industrial sector, on the other hand, posted $84.1 million in investment sales as many manufacturers delayed expansion or relocation plans.
\nConsidering, however, the upward change in direction within the Purchasing Managers\u2019 Index (PMI) in May, driven by output growth within the biomedical manufacturing clusters, particularly pharmaceutical goods, production may increase as manufacturers prepare for the hike in demand as the government ease the stringent restrictions.
\nWith travel restrictions imposed in Q2, the hospitality sector was seen struggling during the first six months of the year, mostly relying on government fiscal support.
\nMeanwhile, available data from Real Capital Analytics (RCA) showed that Singapore outbound investment sales reached $3 billion in Q2, down 30.2% year-on-year from Q2 2019\u2019s $4.3 billion.
\nKey deals in Q2 included the $880 million acquisition by City Developments Limited (CDL) of 51.01% stake in Sincere Property Group, a Chongqing-based developer, and Mapletree Investments\u2019s $56.3 million acquisition of KSH Infra\u2019s upcoming logistics park in Pune, India.
\nIan Loh, Head of Capital Markets (Land, Building, Collective Sales) at Knight Frank, believes the onset of Phase 2 reopening of the economy, pent-up demand for properties across various sectors may result to an increase in investment sales in the coming months.
\nDespite the global economic downturn brought about by the Covid-19 pandemic, Knight Frank also noted that there is little evidence of distress sales, even as investment sales volume declined in Q2 2020.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\nEugenia Liew, Senior Digital Content Specialist at PropertyGuru, edited this story. To reach her with feedback on this or other stories, email eugenialiew@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Big-ticket commercial deals bolstered property investment sales in Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While general activity within the real estate market was muted, several big-ticket commercial deals, totalling...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-117882","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uFk","jetpack-related-posts":[{"id":84146,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strongest-first-quarter-on-record-for-singapore-investment-sales\/","url_meta":{"origin":117882,"position":0},"title":"Strongest first quarter on record for Singapore investment sales","date":"March 29, 2018","format":false,"excerpt":"\r Residential collective sales dominate with $5.83 billion worth of deals. Property investment sales in Singapore saw its best ever first quarter, reaching a staggering $10.84 billion in Q1 2018, according to preliminary figures from JLL. This is up a significant 95.2 percent from the $5.55 billion recorded in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-investment-sales-to-grow-5-per-annum-in-2019-2024\/","url_meta":{"origin":117882,"position":1},"title":"Singapore investment sales to grow 5% per annum in 2019-2024","date":"April 15, 2020","format":false,"excerpt":"\r Property investment sales in Singapore is projected to grow 5% per year in the longer term over 2019 to 2024 even as this year\u2019s sales is expected to drop 24% year-on-year, revealed a Colliers International report. 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Singapore saw property investment deals soar 127.3% to $5 billion during the second quarter of 2021, from $2.2 billion over the same period last year, revealed a Knight Frank report. \u201cInvestment sales in the second quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Singapore-property.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":115604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-investment-sales-in-q1-2020\/","url_meta":{"origin":117882,"position":3},"title":"Residential sector dominates investment sales in Q1 2020","date":"April 14, 2020","format":false,"excerpt":"\r Cushman & Wakefield attributed the surge in volume to the award of various residential Government Land Sales sites in Q1 2020.\u00a0 Singapore saw property investment volume remain muted in the first quarter of 2020 at $3.02 billion, down 37% from the previous quarter, revealed Cushman & Wakefield. The residential\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122410,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-sees-7-5bil-in-real-estate-investment-deals-in-q3\/","url_meta":{"origin":117882,"position":4},"title":"Singapore sees $7.5bil in real estate investment deals in Q3","date":"October 6, 2021","format":false,"excerpt":"\r Real estate investment deals in Q3 2021 saw a 38.7% growth quarter-on-quarter, and a 58.1% increase year-on-year. 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