Singapore’s global investments climbed steadily from $9 billion in 2011 to nearly $19 billion last year, with the exception of a massive uptick in 2015, when sovereign wealth fund GIC purchased U.S.-based IndCor Properties for $8 billion, said Forbes Magazine yesterday.
Singapore’s investors have grown not only in the U.S. but globally around the world. The U.S. is part of their global strategy, but it’s certainly not the only market they focus on, the portal reported.
It said the island nation still gained fewer American assets than Canada, which greatly outpaced Asian investors with more than $14 billion in buys last year.
But Singapore surpassed Chinese investments in U.S. commercial property by $1 billion in 2017.
Forbes said it is a clear sign of the nation’s steady rise in global investments.
Singaporean investors distinguish themselves from other players in the region because they zero in on small, lucrative markets, they could not have bested the Asian investors market this year if China did not slide in its U.S. commercial investments between 2016 and 2017.
Read more here: Singapore overtakes China in U.S. commercial investments