Investing in real estate is a strategic decision that requires careful consideration of the location. This is particularly true in Singapore, where the location of a condo can greatly impact its value. Condos that are centrally located or in close proximity to important amenities such as schools, shopping malls, and public transport hubs tend to have a higher appreciation in value. Some prime locations that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families are also drawn to condos in these areas due to their proximity to reputable schools and educational institutions, making them even more desirable and increasing their potential for investment. For those looking to invest in Singapore’s real estate market, keeping an eye on new condo launches, such as those listed on Mentorship Online, is essential in order to make well-informed decisions and maximize investment potential.
The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link. The sale consideration of $24.388 million reflects a 32.5% premium over the property’s valuation of $18.4 million as of March 31. This property comprises a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.
According to the CEO of the manager, Russell Ng, the net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, including new acquisitions, asset enhancement initiatives, and potential redevelopment projects. This move is in line with the REIT’s proactive asset management strategy and continuous effort towards portfolio rejuvenation, which aims to strengthen its resiliency and deliver sustainable returns for unitholders in the long run.
The divestment is subject to JTC Corporation’s approval and is expected to be completed by the first half of 2025. Upon completion, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia. This divestment is a strategic decision that will provide the REIT with the means to explore potential growth opportunities and enhance its overall portfolio.