Singapore office investment deals hit over S$160m in Q3 | Real Estate Asia

Singapore office investment deals hit over S$160m in Q3

The number of transactions declined from 11 in Q2 to just 6 in Q3.

Data from Savills revealed that Singapore office investment sales declined further in Q3 2023 with fewer strata title deals and no block transactions. 

While there were 11 transactions in Q2/2023, Savills said in a report that there were only six transactions of strata units totalling S$166.9 million. Out of which, three of the deals were from Suntec City, with transaction prices of S$11.5 million (S$2,850 psf), S$11.6 million (S$3,100 psf) and S$16.5 million (S$2,350 psf) respectively. 

“Apart from that, the third storey of the freehold Nomu at Handy Road was also sold to a Singapore-incorporated entity that is an indirect wholly-owned subsidiary of IMC Group Holdings which was founded by the late Frank Tsao of Hong Kong. This was bought over from a company owned by Wong Mun Summ and Richard Hassell, the founders of Woha Architects for nearly S$24.0 million (S$3,790 psf),” the report added.

 

Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

How Metland Indonesia deals with weaker residential purchasing power
The real estate firm continues to expand with residences that are attractive to consumers because of pricing, the ‘growing house’ concept, and sustainable features.