A key deal is CDL’s acquisition of 51.01% stake in Sincere Property Group for $880m.
This chart from Knight Frank shows that Singapore’s outbound investment sales in Q2 amounted to $3b, which crashed 30.2% YoY from $4.3b in Q2 2019.
Key deals included City Developments Limited’s (CDL) acquisition of 51.01% stake in the Chongqing-based developer Sincere Property Group for some $880m earlier in April, as well as the purchase of KSH Infra’s upcoming logistics park in Pune, India, by Mapletree Investments for about $56.3m in June.
With the end of the circuit breaker and Phase One of the pe-opening, Knight Frank expects overall investment sales to increase in the coming months with the onset of Phase Two. Pent-up demand for properties across the various sectors could result in transactions upon the resumption of business activities in Singapore, especially in an environment of low interest rates and ample liquidity, it added.