In Q3 2021, retail property investment sales increased to $0.6 billion.
Retail property investment sales jumped five-fold to $0.6 billion during the third quarter of 2021, reported Singapore Business Review (SBR) citing Cushman & Wakefield.
The surge in investment sales was bolstered by two mega deals, which were worth more than $100 million each.
These deals involved Lendlease Global Commercial REIT’s $337 million acquisition of a 31.8% stake in Jem and Le Quest Mall’s $139 million sale to Firmus Capital.
Cushman & Wakefield noted that suburban malls such as Le Quest, which could offer delivery as well as click-and-collect services, are still on investors’ radar.
“Amid the challenging retail scene due to the pandemic and e-commerce boom, investors can keep a lookout for short-term repricing opportunities in retail assets especially those in the Central Business District (CBD),” said Shaun Poh, Executive Director and Head of Capital Markets at Cushman & Wakefield, as quoted by SBR.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: email@example.com.