News
COMMERCIAL PROPERTY | Staff Reporter, Singapore
view(s)

Industrial property transactions edge up 12% to $6.1b

Tin Fun Ingustrial Mansion, sold for $1.98b, helped boost figures.

Investors' interest in industrial properties were the strongest amongst property sectors in Q3, Colliers International revealed.

According to a quarterly report, industrial property transactions rose 13% QoQ to $6.1b, marking the strongest quarter growth so far.

Five en bloc sales were closed in Q3 for a total of $4.4b, which also marked a record high.

Two major sales in the Wong Chuk Hang area led the transactions. Imperium Group Global bought 97% of Tin Fung Industrial Mansion for $1.98b and Bradford Enterprises bought the Gee Luen Hing Industrial Building for $1.11b.

The strata title market also started to grow as en bloc opportunities are decreasing.

Strata title transactions surged 46% to $1.7b.

Colliers added that the overall industrial property market was boosted by the government hinting that it would bring back the industrial revitalisation scheme and refine the application threshold of 80% ownership of an entire building for a compulsory sale in order to help the majority of owners to redevelop their industrial properties.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.