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Check out the largest upcoming real estate deals in Singapore
Investment sales will skyrocket if these deals are concluded.
Despite a slew of property cooling measures and subpar economic growth, a number of large real estate deals are still in the works in Singapore.
A report by DTZ highlighted some hefty deals which are expected to be completed in the near future. These include the pending sale of Asia Square Tower 1, whose owners are asking around $3.5b from prospective buyers.
Although listed property developer CapitaLand had already backed out of the Asia Square Tower 1 deal, the property’s owners assert that the building is still in the market for buyers.
Other large deals include the pending sale of Robinson 77, the former Singapore Airlines building, as well as the pending sale of the CPF Building. Both deals are expected to boost sales by around $1b, DTZ said, but the transactions are only likely to be concluded next year.
There are also other developments in the market for en-bloc sale, including the potential sale of Shunfu Ville at Marymount road. Owners are expecting bids above $688m for Shunfu Ville, which sits on a prime plot of approximately 408,900 sq ft and is zoned for residential use.
Another notable upcoming en-bloc deal is the potential sale of Normanton Park condominium near Kent Ridge Park. The reserve price is set at $840m and the tender exercise for the estate closes on January 19.
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