News
COMMERCIAL PROPERTY | Staff Reporter, Singapore
view(s)

Industrial property sales skyrocketed 295.1% to $794.4m in Q2

There was a rising institutional interest for data centres and hi-spec facilities amidst stabilising rents and prices.

Industrial property sales jumped 295.1% YoY to $794.4m in Q2 amidst strong private investment sales which accounted for 95.7% of total industrial property sales volumes, Colliers International revealed.

 According to Colliers International head of research for Singapore Tricia Song, real estate investment trusts (REITs) continued its active portfolio overhaul through divesting non-core assets and using proceeds into potentially higher growth ones.

“As industrial rents and prices are expected to bottom out and stabilise, we notice a growing institutional interest to acquire more industrial spaces, especially in niche sectors such as data centres, hi-spec facilities and modern ramp-up logistics buildings,” Song explained.

She believes the pick-up in interest from institutional investors for said properties will continue in 2018.

Major deals in the industrial property market included the sale of 99% stake in Kingsland Data Centre for $295.1m to Keppel DC REIT and the purchase of Admirax for $106m by BlackRock.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.