Home, office property transactions up 90% in Q3

GuocoLand’s $800m home buy boosted figures.

Singapore developers showed to focus on residential and office properties in Q3 2019 as total transaction values for both sectors increased significantly by 90% within the quarter, according to Colliers Research.

Some recent land investments include GuocoLand’s purchase of a residential site at Tan Quee Lan Street for $800m, in partnership with Intrepid Investments and Hong Realty.

M+S also sold its DUO tower, which includes an office tower and a shopping mall, to Allianz Real Estate and Gaw Capital Partners for $1.4b.

Based on feedback and inquiries from investors, the office sector will continue to be highly attractive and Colliers envisage that a few more acquisitions will be completed before the year ends, said the report.

Prime office assets in CBD will remain appealing as Singapore gains foothold as a leading financial hub.