Retail scored the largest commercial property deal with the $2.2b Jurong Point transaction.
Total commercial investment sales rose 6.4% YoY to $12b (US$9b) following a string of high-value deals in the retail, office and residential segments, according to Colliers International’s quarterly investment sales report.
Total commercial investment sales also rose 9.8% QoQ in Q4 to $3.1b but fell 32% YoY as the previous quarter’s robust figures were boosted a high-value government land sale.
The retail sector snagged the largest recorded commercial property deal for 2017 with the sale of Jurong Point at $2.2b in Q2 followed by the office sector’s $2.09b transaction of the Asia Square Tower 2 in Q3.
The $1.62m sale of Beach Road as part of the GLS programme to Guocoland and Guoco Group was also a notable year-end transaction.
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