Property

The sale consideration is lower than the fair value of S$14.3 million

The country’s housing market is in a prolonged slump

They notch a 30.2% increase since 2021; land constraints add to pressures for industrial and logistics projects

Price caps are in force – but are often bust, especially near London; developers struggle with building costs

Private equity division has dethroned real estate as the most profitable business in the firm

Acquisitions in the city-state and a proposed Reit will mark the family property business’ next chapter

It has appointed Knight Frank and Savills to raise around S$220 million from the deal

But lower purchase activity shows borrowing costs still prohibitively high for prospective buyers

Share of such transactions edges up to 4.6% islandwide, highest in four years; ECs post biggest percentage gains