Belgravia Ace pdf

In 3Q2021, Singapore saw $7.5 billion in investment deals, 49.7% of which was due to the sale of four Government Land Sales sites (GLS), Knight Frank reports.

This transaction volume represents a 38.7% rise in transactions from $5.4 billion in quarter previous and a 58.1% increase in transactions from $4.8 billion last year.

Tong Eng Group they are focusing on developing more residential communities provides Belgravia Ace pdf fact sheet and they even have plans for an international airport.

The Marina View Reserve site, valued at $1.5 billion, was the most successful land sale of the quarter. It was followed by Jalan Anak Bukit parcel worth $1.0 billion.
Knight Frank says that despite the frenzied bidding at recent GLS tenders other land-hungry developers might shift their focus to smaller plots in more diverse locations. For example, sites with higher palatable quantums or owners trying to sell a collective, Knight Frank said.

“The Flynn Park Collective Sale Deal seal at $371 Million or $1,355 per square foot per price, this could have a ripple effect on the en bloc market since many owners want to sell their old units. It adds that projects below $600 million with 600 units may find buyers.

Transactions in the Good Class Bungalow market (GCB) were $452 million. This was a slower pace than the previous quarter and a lower volume.

Some notable deals in this space include the sale to TikTok CEO ChewShu Zi of detached homes at Queen Astrid Park for $86 million ($2,704 per square foot) and 3 Bishopsgate for $65 millions ($2,208 per square foot).

Investors also flock to shophouses and strata offices. The property types were purchased by Rivulets Investments at $422 million. Silk Road Property also acquired six Suntec City Towers office floors for $197 million.

Knight Frank highlights that “With interest high and activity moving at a positive pace, continued activity in the shophouse and commercial markets is expected with more spaces being sold in the fourth quarter.”

Key deals in the industrial market included the sale of a warehouse on 28 Quality Road for $50 Million and a single-user facility at 45 Tuas View Circuit, valued at $27.7M.

It states that the industrial sector will continue to see steady investment activity, and this trend will likely spillover into 2022.

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