355 views
Photo from Savills

Singapore real estate investment sales up 52.6% in Q2

This growth was mainly due to higher revenue from GLS land sales.

Real estate investment sales increased by 52.6% quarter-on-quarter (QoQ) to $6.48b in Q2 2024, largely due to higher revenue from the land sales under the GLS Programme, totalling $3.16b, Savills reported.

The proceeds from the plots included $1.11b for Zion Road (Parcel A) by CDL and Mitsui Fudosan, $779.6m for Upper Thomson Road (Parcel B) by GuocoLand and Intrepid Investments, $805.4m for Holland Drive by CapitaLand and a UOL-led consortium, and $464m for River Valley Green (Parcel A) by Wing Tai Holdings.

In the same period, the private sector saw a 14% increase in transaction value to $3.32b, whilst transaction volume grew 30.8%, with 65 deals in Q1 rising to 85 in Q2.

Savills said that this growth is attributed to the recovery of the luxury housing market, with 52 luxury homes sold in Q2, up from 40 in Q1.

In addition, commercial investment sales grew by 16.7% QoQ to $1.52b in Q2 2024, making up 23.5% of the quarter’s total transaction value. 

Notable transactions include Mapletree Pan Asia Commercial Trust’s $775m sale of Mapletree Anson, a 19-storey office building on Anson Road, translating to S$2,352 per sq ft.

The mixed-use property sector’s investment sales reached $628.9m, making up 9.7% of the total transaction value. Notable deals include Delfi Orchard, Fraser Residence River Promenade, and Sin Ming Centre, with Delfi Orchard's $439m collective sale by CDL as the biggest transaction.

Meanwhile, the commercial and industrial sectors resorted to divestments to reduce leverage amidst higher financing costs and delays in Fed rate cuts.

Join Singapore Business Review community

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

30 One-Sentence Stories From People Who Have Built Better Habits
None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.
SBR 5 Lorem Ipsum News 2 [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 4 Lorem Ipsum [8 May Top Stories]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

How Experts Figure What to Focus On
eliminate the distractions. Commit to one thing and become great at that thing.”
Exclusive three SBR 12 Lorem Ipsum [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 3 Lorem Ipsum [ Exclusive 2]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Event News

Video [Event News]
Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley