Understanding the rules and limitations surrounding property ownership in Singapore is crucial for foreign investors. Condominiums are generally more accessible to foreign buyers, while landed properties have stricter regulations. However, these buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Nonetheless, the stability and potential for growth in the Singapore real estate market remain a strong draw for foreign investment. This is evident in the continuous interest in Singapore Projects by foreign investors, despite the added costs.
Mapletree Investments has boosted its logistics portfolio in Europe with the recent acquisition of a UK property and 10 warehouses in Spain. These acquisitions, worth approximately EUR315.1 million ($444.5 million) and covering a total area of 256,000 sqm, will be included in the group’s second European logistics-focused fund. This move is in line with Mapletree’s strategy to deepen its focus within the logistics sector and expand its global presence, as stated in the company’s Jan 27 press release. The fund is expected to be launched after achieving a sufficient scale.”The logistics sector continues to be highly attractive, with strong demand from both tenants and investors. The growth of e-commerce has led to increased efforts by companies to secure and expand their supply chains,” explains Ralph van der Beek, CEO of Mapletree’s European commercial and logistics division.Read also: Elite Partners Capital acquires logistic centre in GermanyAdvertisementHe adds that the company is optimistic about the steady and recurring returns that these assets will deliver in the long run.The UK property is situated in Derby Commercial Park, with easy access to major roads like the M1, A50, and A6. It is also near the city centre and the East Midlands Airport. The tenant of the property recently renewed its long-term lease, according to Mapletree.The 10 warehouses in Spain are located in the first rings of Barcelona, Valencia, and Madrid, in core logistics hubs with immediate access to the city centre linked by various modes of transportation. These assets are expected to benefit from third-party logistics providers and manufacturers which are highly committed to the properties due to the proximity to their production facilities and investments dedicated to automation and fit-outs on site.The acquisitions have increased Mapletree’s logistics portfolio to 80 assets across eight countries. RELATED NEWSMapletree Investments and PAG to acquire Hong Kong’s Goldin Financial Global Centre for US$713 milMapletree reports 6.2% y-o-y rise in net profits to $1.96 billionOakwood to open 20 new properties in 2022, aims to double portfolio by 2025