commercial property

Singapore lone bright spot in Asia commercial property slump

SINGAPORE (May 22): Commercial property deals in Asia had a poor start to the year, but there was one bright spot: Singapore.

Commercial property transactions in the city-state jumped 72% year-on-year to US$1.9 billion ($2.6 billion) in the quarter ended March 31, boosted by deals in the office, retail and industrial sectors, according to a report by New York-based Real Capital Analytics Inc. Office transactions accounted for the bulk of the activity as investors sought to lock in higher rents.

Keppel Land in JV to develop its first commercial property in India

SINGAPORE (Oct 1): Keppel Land, the property arm of Keppel Corporation, is developing its first commercial property in India through a joint venture.

Subsidiary Keppel Puravankara Development (KPDL), a joint venture company with an Indian property developer, Puravankara, entered into agreements to acquire a prime 3.09ha site from Metro Cash & Carry India.

Perennial-led consortium divests 70% stake in TripleOne Somerset

SINGAPORE (Jan 26): Perennial Somerset Investors (PSIPL), a consortium led Perennial Real Estate Holdings (Perennial), has agreed to divest a 70% stake in TripleOne Somerset to Simply Swift Limited, an indirect wholly-owned subsidiary of Hong Kong-listed Shun Tak Holdings.

PSIPL is the sole owner of TripleOne Somerset, a 17-storey office-integrated landmark development located in Singapore’s Orchard Road precinct.

REITs boost DPUs with acquisitions as tough economy pressures rents

It has been a rough year for commercial property. The retail sector has been under pressure from weak consumer spending, labour shortages and growing competition from e-commerce players. Meanwhile, office buildings and industrial properties have been affected by oversupply and economic uncertainty. Yet, the pace of property securitisation has taken off in the past 12 months, fuelled by hordes of investors reaching for yield, even as interest rates are coming off their bottoms and starting to rise.

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