DAILY NEWS

Daily News – 6th March 2019

Singapore Real Estate

Co-working space provider WeWork opens new location at 380 Jalan Besar
WeWork is augmenting its presence in Singapore with its new location at 380 Jalan Besar, the US-based co-working space provider announced in a press statement on Tuesday. The new space, which opened its doors on March 1, is housed in ARC 380, a mixed-purpose commercial development, and marks the firm’s first location with additional amenities such as a sky terrace with a swimming pool, a gym and an open rooftop, WeWork said.
https://www.businesstimes.com.sg/real-estate/co-working-space-provider-wework-opens-new-location-at-380-jalan-besar
https://www.straitstimes.com/business/companies-markets/wework-opens-new-outlet-in-jalan-besar-its-first-outside-cbd

Singapore Economy

Singapore business sentiment slips for 3rd straight quarter
Singapore businesses are less confident about prospects for the second quarter of 2019, making it the third straight quarter of waning sentiment, going by the latest quarterly Business Optimism Index released on Tuesday by the Singapore Commercial Credit Bureau (SCCB). The overall index came in at +5.08 percentage points for Q2 2019, down from the +7.19 percentage points in Q1 2019. On a year-on-year basis, the index moderated further, from the +8.50 percentage points in Q2 2018.
https://www.businesstimes.com.sg/government-economy/singapore-business-sentiment-slips-for-3rd-straight-quarter
https://www.straitstimes.com/business/economy/spore-business-confidence-weakens-for-q2

Companies’ Brief

Keppel Capital unit in lead position to buy Seoul buildings
A south Korean unit of Keppel Capital has emerged as the frontrunner to acquire three office buildings in Seoul in a deal totalling 450 billion Korean won (S$0.54 billion), as South Korea’s real estate sector continues to attract interest from investors.
https://www.businesstimes.com.sg/real-estate/keppel-capital-unit-in-lead-position-to-buy-seoul-buildings

ESR-Reit secures S$155m loan facility; files proofs of claim against Hyflux
ESR-Reit has secured a S$155 million unsecured loan facility to refinance existing indebtedness, acquire assets and improve currently owned assets as well as other general working capital purposes, its manager announced on Tuesday night. It will comprise two tranches: a S$75 million term loan facility maturing 36 months from March 4, 2019, and a S$80 million term loan facility maturing in 48 months.
https://www.businesstimes.com.sg/companies-markets/esr-reit-secures-s155m-loan-facility-files-proofs-of-claim-against-hyflux
https://www.straitstimes.com/business/companies-markets/esr-reit-secures-155m-loan-facility-files-proofs-of-claim-against-hyflux
https://www.todayonline.com/singapore/social-service-hubs-near-rental-flats-among-govts-plans-help-disadvantaged-families

Views, Reviews, Forum & Others

HDB setting up team to help rental-flat families buy own homes
Families in rental homes will get more support to buy their own flats, as the Housing Board sets up a team dedicated to looking out for households with the potential to qualify for home ownership. Announcing the upcoming move yesterday, Senior Parliamentary Secretary for National Development Sun Xueling said: “We have learnt that having someone to consult, and more importantly, to provide the human touch, is important for our tenants.”
https://www.straitstimes.com/singapore/housing/hdb-setting-up-team-to-help-rental-flat-families-buy-own-homes
https://www.channelnewsasia.com/news/singapore/hdb-dedicated-team-rental-households-home-ownership-11312294

Batam’s latest crown jewel project
Former Indonesian president BJ Habibie’s plans to revolutionise Batam Island reached another milestone on Tuesday, as his company Pollux Habibie International (PHI) celebrated the topping-off ceremony for its second residential tower on the island. The ceremony was attended by his son Ilham Akbar Habibie, who’s also the president commissioner of PHI, as well as Pollux Group chairman Po Sun Kok.
https://www.businesstimes.com.sg/real-estate/batams-latest-crown-jewel-project