/ Property news / Office space leads Singapore's property scene as deal value jumps 53.5% in 2019

Office space leads Singapore's property scene as deal value jumps 53.5% in 2019

Fresh property news selection on January 20. 2020, Monday.

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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.

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