Property investment sales in Q2 come to S$6.9b

Singapore

INVESTMENT sales of property - or big-ticket transactions of at least S$10 million - have hit a high note this quarter, with the figure touching S$6.94 billion as at June 21.

This is 2.88 times the S$2.4 billion in the first quarter of this year and the highest since the S$13.84 billion achieved in Q3 2013, according to Savills Singapore. The latest tally is also 16.4 per cent more than the S$5.96 billion in Q2 of last year

Investment sales since the start of this quarter have been buoyed by a BlackRock-managed fund's S$3.38 billion sale of Asia Square Tower 1 to Qatar Investment Authority (QIA) - this transaction alone accounted for almost half the tally so far this quarter. Also giving a boost is CapitaLand Commercial Trust's proposed purchase of the remaining 60 per cent interest …