Singapore’s commercial real estate investment climbed 238% year-on-year to S$23.3 billion (US$18.2 billion) in the first half of 2026, the strongest growth among major Asia-Pacific markets tracked by JLL, Singapore Business Review reported. Second-quarter investment alone more than doubled to S$8.6 billion (US$6.7 billion), up 108% year-on-year.
Two major transactions anchored the quarter’s activity: CapitaLand Integrated Commercial Trust acquired Paragon from Cuscaden Peak Investments for S$3.84 billion (US$3 billion), while IOI Properties purchased Asia Square Tower 2 from the trust for S$2.43 billion (US$1.9 billion). The deals reflected the return of large transactions involving high-quality office and retail assets, even as investors faced persistent inflation, currency volatility and geopolitical uncertainty. JLL said capital remained available despite the challenging environment, with investors seeking repriced premier assets that could benefit from limited supply and favourable rental-growth prospects.
Singapore’s performance contributed to a broader Asia-Pacific recovery: regional commercial real estate investment volumes reached a record US$92.5 billion in the first half, up 35% year-on-year, with second-quarter regional investment rising 38% to US$45.5 billion. Japan remained the region’s largest market, with first-half volume of US$23.8 billion led by office transactions and growing data-centre demand. Australia recorded US$8.9 billion in second-quarter investment, up 82% year-on-year and its strongest second quarter since 2021, while Hong Kong investment surged 129% to roughly US$3.1 billion, from a low base, supported by stronger retail and office transactions including assets under receivership.
References
Singapore Business Review, citing JLL — Commercial real estate investment investment surges 238% to $23.3b in H1
