In the second half of 2024, institutional investments in Asia Pacific (Apac) real estate saw a 6% increase year-on-year, reaching a total of US$83.2 billion ($112 billion), according to research by Colliers. This brings the full-year investments to US$155.9 billion in 2024, climbing by 12% compared to the previous year. The figures cover the top nine markets in the region: Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand and Taiwan.

This rise in investments demonstrates the resilience of the Apac real estate market and sets the stage for a robust 2025, according to Chris Pilgrim, Colliers’ managing director of global capital markets, Asia Pacific. Pilgrim also noted that domestic investors have continued to drive growth in key markets such as South Korea, Taiwan and New Zealand. In the second half of 2024, local investors accounted for over 80% of real estate inflows in these markets.

The …

Singapore-based private equity real estate firm SC Capital Partners Group has recently announced the sale of its student accommodation asset in Sydney, Australia. According to a press release on March 3, the group sold the property, which is situated on Anzac Parade and Lorne Avenue in Kensington, for a significant premium to its initial purchase price and a 19% premium to its current book value. The buyer of the property is none other than the University of New South Wales (UNSW) in Sydney.

SC Capital Partners Group had acquired the property in 2016, reportedly paying A$57 million for the asset. With this sale, its current book value has increased significantly. Spanning over 85,035 square feet, the purpose-built student accommodation features 233 beds and a ground-floor commercial podium. It is strategically located within 600 meters of the UNSW Kensington Campus, making it an ideal choice for students. The student accommodation component …

for over $1 billion

Lee Chee Koon, CEO of CapitaLand Investment Limited (CLI), was recently awarded the ‘Industry Figure of the Year’ for Asia Pacific at the prestigious PERE Global Awards 2024. This annual event, organized by the London-based private equity real estate publication, recognizes outstanding firms, individuals, and deals from the past year. CLI also received the runner-up award for ‘Firm of the Year’ in Asia Pacific, showcasing the company’s exceptional performance in the region.

The winners for 2024 were chosen by a panel of PERE journalists, a change from previous years where readers voted for the winners from a shortlisted group of submissions.

CLI, in a press release issued on March 4, stated that the CEO award for Lee is a testament to “his role in driving CLI’s transformational growth and his significant contribution to the private real estate industry in the Asia Pacific region.” Since taking over …

City Developments Shares Plunge After Family Spat

Shares of City Developments (CDL) experienced a sharp drop of 28 cents, or 5.47%, when trading resumed today amid an internal tussle that has now reached the courts. The trading of CDL’s shares had been halted since February 26, when a scheduled results briefing was suddenly cancelled and news of a disagreement between Executive Chairman Kwek Leng Beng and his son Sherman Kwek, who is the Group CEO, came to light.

CDL released a statement on March 3, saying that they will not be commenting on the allegations made against the board as they are currently subject to ongoing court proceedings. They also reassured shareholders that the company’s business operations remain unaffected and it is “business as usual”. Sherman Kwek will continue to hold the position of Group CEO until the board makes a decision to change the company leadership.

As a result …

In a recent announcement, Elite UK REIT’s trustee, Perpetual (Asia) Limited, successfully sold its property known as Crown Buildings, Caerphilly, located at Claude Road, Caerphilly, for a total of GBP710,000 ($1.2 million). This sale was made at an 18% premium, demonstrating the strong demand for this vacant property.

This transaction was disclosed in a filing with the bourse on March 3, made by Elite UK REIT’s manager. The property, which was evaluated by CBRE, had a value of GBP600,000 at the end of 2024. This is a significant increase from its valuation of GBP530,000 at the end of 2023.

Crown Buildings, Caerphilly is situated in Wales and boasts a gross floor area of 20,712 sq ft. After the successful sale, the net proceeds will be utilized to pay off any outstanding borrowings for Elite UK REIT.

According to information provided on Elite UK REIT’s website, Crown Buildings, Caerphilly has an …

Mandarin Gardens in Siglap, District 154.88 million700674 https://www.edgeprop.sg/property-news/mandarin-gardens-recorded-most-profitable-condo-resale-transaction-during-feb-7-feb-14

Mandarin Gardens in Siglap, District 15, continues to prove its popularity in the resale market, with the most profitable condo resale transaction recorded between Feb 7 to Feb 14.

A 3,800 sq ft, four-bedroom unit at the development fetched $4.88 million, or $1,284 psf, on Feb 11. The sale resulted in a profit of $3.83 million for the seller, or 364.8% of their original purchase price. This translates to an annualised capital gain of 7.4% over 21½ years.

Mandarin Gardens spans 17 blocks, ranging from nine to 23-storeys tall along Siglap Road in District 15 (Photo: Samuel Issac Chua / EdgeProp Singapore)

The record breaking sale surpasses the previous record of $2.7 million profit recorded for a 3,068 sq ft four-bedroom unit at the condo.

Mandarin Gardens is a 99-year leasehold development located along Siglap Road in District 15. It spans 1.07 …

During the period of Feb 7 to 16, a two-bedroom unit at Hill House achieved a new record price of $3,398 psf for a private condo. The 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16, beating the previous peak of $3,378 psf set on Feb 11.

Breaking records, the two-bedroom unit at Hill House sold for the highest per square foot (psf) price amongst private condos from Feb 7 to 16. The 452 sq ft unit on the eighth floor reached an all-time high of $3,398 psf, purchased by the developer for $1.54 million on Feb 16. This transaction narrowly surpasses the previous peak of $3,378 psf set on Feb 11, when the same unit type on the same floor was sold for $1.53 million. Hill House, a 72-unit development at the top of Institution Hill, off River Valley …

Chiu Teng Group, known for their quality commercial and industrial developments in Singapore, has recently launched their newest project – CT Pemimpin. This freehold development is sure to excite property investors and business owners looking for a valuable asset in land-scarce Singapore.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory with 56 strata-titled units and three canteen units. These units have floor heights ranging from 5.6m to 7.35m, with mezzanine floors available on levels one and five. This modern facility is designed to cater to various businesses, making it a highly sought-after property in the market.

What makes CT Pemimpin stand out is its rare freehold status. In today’s market where most industrial developments are limited to a 30-year or 60-year lease, CT Pemimpin offers investors a valuable opportunity to own a property with unlimited tenure. Additionally, buyers of commercial and …

ERA’s upcoming auction on Feb 27 will feature a pair of retail units located on the third floor of Sim Lim Square. The total guide price for the units is set at $3.38 million.

One of the units is a 958 sq ft space with a guide price of $2.08 million ($2,171 psf), while the smaller unit measures 570 sq ft and has a guide price of $1.28 million ($2,246 psf). This is the first time these units are being listed for auction by ERA.

The units can be purchased together or individually. According to Alison Lee, assistant vice president of auction and sales at ERA, the units are competitively priced and are slightly below the market average to encourage a faster sale.

Based on EdgeProp Singapore’s analytical tools, the average selling price for retail units at Sim Lim Square over the past 12 months is $2,997 psf. The most …

from $2.1 mil on June 30, 2021

A retired man named Mr. Chong recently provided financial assistance to his three sons as they were setting up their own homes. While his eldest son purchased a private condo, his two younger sons opted to purchase executive condos (ECs). According to Mr. Chong, buying an EC at a new launch is a no-brainer and even buying shortly after the five-year MOP (minimum occupation period) is a good deal.

Mr. Chong has experienced both scenarios as his second son had bought a three-bedroom unit at the 531-unit Hundred Palms Residences during its launch in July 2017. He wanted a four-bedroom unit, but they were all quickly snapped up. The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day at an average price of $841 psf. The EC, located on Yio Chu Kang Road, was completed …