Singapore leads APAC in life sciences investments

Amongst notable deals in 9M24 is the US$206m acquisition of Ho Bee Land’s Elementum.

Singapore emerged as a Life Sciences hub in the Asia Pacific, accounting for the majority of investment volume in the space in the first nine months of 2024 (9M2024).

In a report, JLL said Singapore saw more life sciences activities this year amidst the government’s encouraging development of the sector.

Amongst notable deals in 9M24 include Brunei’s sovereign wealth fund Brunei Investment Agency’s acquisition of a 49% stake in Ho Bee Land’s Elementum, a life sciences complex in One-North for US$206m.

During the period, Warburg Pincus and Lendlease’s APAC life sciences JV acquired a 7-asset portfolio of business parks and specialist facilities in Singapore from Blackstone and Soilbuild’s Lim family for US$1.2b.
The portfolio is tenanted by life sciences, tech, advanced manufacturing, and logistics firms.

JLL said Singapore is a global leader in innovation output and talent concentration, making it an attractive hub for multinational life sciences firms seeking R&D and corporate headquarters.
JLL, however, said there is an undersupply of high-quality life sciences and R&D spaces in Singapore.

"Investors may find opportunities by converting industrial assets into specialized labs or pursuing sale and leaseback deals to access this competitive market," JLL said.

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