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It was led by the sale of Chevron House, which was bought at $1.03b.
Total investments in the office property scene surged 53.5% YoY in 2019, based on total private sector deals and GLS sites, according to a report by EDMUND TIE. Notably, it now accounts for most of the total property investment value at 26.3% from 15.8% in 2018.
The report stated that it was supported by investors’ confidence in office space demand and positive outlooks for the sector as viable source of stable income-recurring assets.The largest transaction in 2019 was Chevron House, which was bought at $1.03b ($2,739 psf) to US investment firm AEW from Oxley Holdings.
Real estate related news stories from Singapore
- Elite Commercial Reit's IPO to raise up to £131.2m
- Jurong Lake area housing estate transformation completed
- Elite Commercial Reit lodges preliminary prospectus
- More jobs will be closer to Punggol's smarter, greener homes: SM Teo
- Singapore architects, engineers sign green petition
- Chart of the Day: Occupancy rates of private industrial spaces remained flat in Q3
- MNACT's NPI plummets 40% to $50.78m in Q3
Interesting Stories related Singapore
- From industrial estate to bustling town: Jurong Lake area housing estate transformation completed
- Trains and buses to feature Chinese New Year decorations from Jan 19
- Fare hikes and overseas expansion to give transport operators a lift
- It’s up to S$200 a night for a stay at this shipping-container-turned-hotel
- Moving to Singapore – a quick guide!
- Things to do: What’s on this week
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- Tips for First-Time Home Buyers
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Previous news selection
RealVantage unveils real estate co-investment platform
About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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