This was driven by Keppel DC REIT’s acquisition of two data centres.
This chart from Colliers International shows that Singapore’s industrial investment sales climbed 12% QoQ to $681m in Q3, mainly driven by Keppel DC REIT’s acquisition of two data centres.
The nine-month tally remained modest at $1.8b. However, Colliers forecasts industrial sales to increase by 30% YoY for the full year of 2019, to be driven by big-ticket transactions by REITs and industrialists.
“We expect more industrial assets to transacted by REITs in Q4 and beyond,” the report said. “As the underlying leasing market stabilises beyond 2020, total industrial sales could rise on average 15% per annum in 2018-2023.”
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