SINGAPORE - Real estate investment sales in the third quarter more than doubled to $16.74 billion from $6.7 billion in the previous quarter, on the back of big ticket office transactions.
Another transaction in the Bugis sub-market was Angelo Gordon and TCRE Partners' purchase of Bugis Junction Towers from Keppel Reit for $547.5 million or $2,200 psf. Mapletree Investments injected Mapletree Business City II into Mapletree Commercial Trust for U$1.55 billion or $1,308 psf. The data centre segment also saw Keppel DC Reit continuing to grow its portfolio by purchasing 1-Net North Data Centre for $201.8 million, as well as a 99 per cent stake in Keppel DC Singapore 4 for $384.9 million.The residential sector, meanwhile, accounted for $3.03 billion, while the hospitality sector recorded $2.92 billion with higher investment volumes.
2019's year-to-date volume stands at $27.98 billion from the third quarter's contribution, and is"increasingly likely" to surpass 2018's volume of $33.96 billion, Christine Li, Cushman & Wakefield's head of research, Singapore and South-east Asia, said.
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