Investors remained active across non-residential property sectors over the past week, with deals spanning freehold industrial buildings, shophouses, strata office units and hotels despite a cautious economic backdrop.

One of the more notable transactions was the sale of the former Fujifilm Building for $71 million, or $943 psf based on its gross floor area of 75,261 sq ft. The eight-storey industrial building sits on a freehold site of 30,220 sq ft.

Completed in 1996, the building, with its distinctive green-glass façade, was a landmark along New Industrial Road. It served as Fujifilm Asia Pacific's headquarters for nearly 30 years until the company relocated to Mapletree Business City in February this year.

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The property was launched for sale via an expression of interest (EOI) exercise in October 2025 with a guide price of $80 million. CBRE was the exclusive marketing agent. The eventual sale price of $71 million was 11.25% below the guide price.

According to the property title, the purchase option was signed on April 1, with the deal completed on June 4.

An Acra search shows that the property was purchased by Prime Link Investment, whose directors are Chinese national Wang Jinyu and Singaporean Yang Tse Pin, owner of Jian Yu Construction.

The existing building has a floor-to-floor height of up to 5.7m, with 40-ft container accessibility and 40 parking spaces across the basement and surface levels. Under the URA Master Plan, the site is zoned for Business 1 (B1) industrial use, such as manufacturing and R&D activities, with a plot ratio of 2.5.

Another recent industrial deal was the sale of Hwa Yew Industrial Building at 17 Mandai Estate, which fetched $72 million in May. The buyer is said to be Soilbuild Group. The freehold, strata-titled, six-storey industrial building is zoned for Business 2 (B2) industrial use, which is a mix of light and heavy industry, with a plot ratio of 2.5. The building sits on a freehold site of 42,052 sq ft.

Another industrial transaction recorded in caveats involved a property at 24 Jurong Port Road. The property comprises a four-storey warehouse block and a five-storey ancillary office block, catering primarily to logistics and warehousing operators.

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The lease on the 325,742 sq ft site was renewed for another 12 years from March 1, 2025, and the property was sold for $68 million, based on a caveat on May 22.

Industrial buildings are not the only ones that are seeing interest. In the shophouse segment, a two-storey shophouse at 64/64A Serangoon Garden Way changed hands for $15 million. The property sits on a 999-year leasehold site of 2,146 sq ft, and is leased to Japanese restaurant Sushi Tei.

It is the largest shophouse transaction ever recorded along Serangoon Garden Way based on caveats lodged to date. The previous owner purchased the property for $3.1 million in May 2005, resulting in a capital gain of almost fivefold over 21 years.

Based on a property title search, the buyer of the shophouse is LWH SGN Pte Ltd, which is likely linked to LWH Holdings, the property developer and construction company headquartered in the Lim Wen Heng Building on Kim Chuan Drive.

In the office market, a 2,926 sq ft strata-titled unit at Suntec Tower 3 changed hands for $9.95 million ($3,398 psf). The office unit is on the 34th floor of the 45-storey tower. The highest transaction on a per sq ft basis at Suntec City was also at Tower 3, when a 2,928 sq ft unit on the 36th floor fetched $11.41 million or $3,897 psf, based on a caveat lodged in January 2026.

According to an ACRA search, the buyer was Cecil Street Holdings. One of its directors is Budi Agusalim, founder and president of PT Timur Megah Steel, an Indonesian manufacturer of fasteners, bolts, nuts and screws based in East Java.

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Meanwhile, the 272-room Orchid Hotel and an adjoining strata office unit at Tras Link in Tanjong Pagar were sold for $273 million, or just over $1 million per key. The 20-storey hotel, completed in 2011, was acquired by a joint venture between local developer-construction firm Master Contract and Westmont Hospitality Group.

The property has a 99-year lease from 2007, with about 80 years remaining. It is expected to be rebranded under a global hotel brand managed by Westmont, one of the world's largest independent, privately held hotel owners and operators, with more than 400 hotels under management, including Autograph, Hilton, Holiday Inn and Sheraton.

Led by the Singapore-based Leow family, Master Contract was founded in 1993. The group developed and owns Hotel Traveltine Downtown Singapore at 700 Beach Road, as well as Katong Square, the 131-room Hotel Indigo Singapore Katong and the 451-room Holiday Inn Express Katong.

“We continue to see keen interest in the living and hospitality sectors and are working with several new-to-market investors on such deals," said Galven Tan, CEO of Knight Frank Singapore, which brokered the deal.