Singapore companies splurged at least $3.8b on foreign properties in Q3

Check out the biggest deals last quarter.

Local developers and investors continued to pour funds into overseas real estate acquisitions in the third quarter, with the property market at home still suffering from a spate of cooling measures.

A report by DTZ revealed that at least $3.8b was invested into overseas properties last quarter. Of this, at least $1.8b was invested in Australia and about $1.2b in the United Kingdom.

Among the largest overseas deals concluded in Q3 include Frasers Commercial Trust's $246m purchase of 357 Collins Street office building in Melbourne, Sinarmas Land’s acquisition of Alpha Beta Building in London for $551.3m, Ho Bee Land’s acquisition of 39 Victoria Street in London for about $224.7m, and Mapletree Logistics Trust’s purchase of a premium freehold cold store warehouse in Sydney for approximately $255.6m.

Meanwhile, around $2.9b of overseas property investments were divested by Singapore-based investors during the quarter. The biggest divestment was the sale of Dongzhimen (DZM) mixed use development in Beijing by GuocoLand.