The temptation to invest in a condominium in Singapore has captured the attention of investors, both local and international alike. This can be attributed to the country’s robust economy, stable political climate, and enviable living standards. As the real estate market in Singapore overflows with opportunities, condos have emerged as a sought-after option, thanks to their prime location, extensive amenities, and potential for high returns. In this article, we will explore the benefits, considerations, and necessary steps involved in investing in a Singapore condo, shedding light on the appeal of this specific type of property. The appeal of condos in Singapore has captured the attention of investors, both local and international. This is largely due to the country’s strong economy, stable political environment, and desirable living standards. With the real estate market in Singapore offering countless opportunities, condos have emerged as a popular choice due to their strategic locations, wide array of amenities, and potential for substantial returns. In this article, we will delve into the advantages, factors to consider, and steps to take when investing in a condo in Singapore, shedding light on the appeal of this type of property.
The manager of AIMS APAC REIT (AA REIT), Russell Ng, has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has signed a sales and purchase agreement with Crown Worldwide. This agreement will result in the divestment of AA REIT’s property located at 3 Toh Tuck Link.
The sale price of $24.388 million is a 32.5% premium to the property’s valuation of $18.4 million as of March 31. The property comprises of a three-storey factory and a five-storey ancillary office building, with a total gross floor area of 12,492.4 sqm.
The net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, including potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. According to Ng, this aligns with the REIT’s proactive asset management strategy and continuous efforts towards portfolio rejuvenation. This will ultimately strengthen AA REIT’s resiliency and deliver long-term sustainable returns for its unitholders.
The divestment is expected to be completed in the first half of 2025, subject to approval from JTC Corporation. Following the divestment, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia.