This is the highest value since 2008.
This chart from Cushman & Wakefield (C&W) shows Singaporean investors placed US$28.4b or $37.17b in overseas real estate, the highest recorded value in nine years.
The value surged by a whopping 40% from last year, beating the US$27.6b figure achieved in 2015.
In recent years, Singapore-based investors have become one of the largest and most dynamic and forward-looking sources of capital entering the US markets, C&W said.
The largest Singaporean deal involved GIC’s acquisition of Monogram Residential Trust for US$4.4b.
The sovereign wealth fund has also become the republic’s largest outbound investor last year.
C&W said GIC shifted its strategy in the US from logistics to residential properties.
Do you know more about this story? Contact us anonymously through this link.