Chevron House up for sale for over S$700m

Singapore

GERMAN open-ended real estate fund Deka Singapore wants to sell its Raffles Place office-cum-retail property Chevron House. It joins the ranks of office building owners which have in recent months put up their properties for sale in the revived office market.

Jeremy Lake, executive director of capital markets at CBRE, said: "Sentiment towards the office investment market has improved significantly in the last six to nine months and there are now more buyers than sellers. The fear around the office oversupply situation has evaporated and most investors are expecting rental growth to return in 2018 and beyond."