COMMERCIAL PROPERTY | Staff Reporter, Singapore

Retail property sales hit $695m in H1 2018

The highest transaction was for the 50% stake in Capitol Piazza and Capitol Theatre for $349m.

Retail investment sales ballooned 39.7% to $695m in H1 2018 from US$509m in H2 2017, Colliers International revealed.

“This is a robust continuation from full-year 2017 which saw the decade’s highest annual transaction volume, boosted by the $2.2b sale of Jurong Point,” the firm commented.

They added that the cooling measures imposed on the residential property market could likely maintain the rise in investor interest towards the commercial sector which includes retail properties.

Also read: Commercial property sales ballooned 216.8% to $1.4b in Q2

Colliers International noted that H1 2018 retail property transactions included freehold and 999-year leasehold properties including the Sembawang Shopping Centre which was sold for $248m, and the 50% stake in Capitol Piazza and Capitol Theatre which was priced at $349m.

Other notable transactions in the market included the sales of The Rail Mall for $63.2m and Lucky Plaza for $9.4m.

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