DAILY NEWS

Daily News – 23, 24 & 25 Nov 2019

Singapore Real Estate

High-profile deals mask slower year for GCBs
The year has seen some high-profile transactions in the Good Class Bungalow (GCB) market but the total volume and value of deals done seem to be lagging the exceptionally high base last year. Property agents attribute this to the uncertain business climate.
https://www.businesstimes.com.sg/real-estate/high-profile-deals-mask-slower-year-for-gcbs

Fragrance Group to preview Urban Treasures on Nov 23; prices start from S$845,000
The public preview of Urban Treasures, the newest residential project by Fragrance Group, will take place on Saturday at 10am. The freehold condominium along Jalan Eunos in District 14 comprises two 12-storey buildings with 237 apartments.
https://www.businesstimes.com.sg/real-estate/fragrance-group-to-preview-urban-treasures-on-nov-23-prices-start-from-s845000
https://www.businesstimes.com.sg/real-estate/fragrance-group-to-preview-urban-treasures-on-nov-23-prices-start-from-s845000

Singapore Economy

The growing allure of Black Friday sales
The annual Singles’ Day sale on Nov 11 has passed but coming up soon is the next major shopping affair – Black Friday – on Nov 29. With slightly less than a three-week interval between the two big sales events, should retailers scurry to gear themselves up for this event as well?
https://www.businesstimes.com.sg/real-estate/the-growing-allure-of-black-friday-sales

Companies’ Brief

Surbana Jurong to design 15,000 homes in India with Singapore public housing features
Temasek-owned urban and infrastructure consultancy Surbana Jurong on Monday announced it has secured an affordable housing project in Gujarat, India. The project was awarded by Gujarat Housing Board, and will see Surbana Jurong extending its affordable housing expertise beyond Singapore.
https://www.businesstimes.com.sg/real-estate/surbana-jurong-to-design-15000-homes-in-india-with-singapore-public-housing-features
https://www.straitstimes.com/business/companies-markets/surbana-jurong-to-build-15000-homes-in-india-with-singapore-public

AA Reit inks 12-year master lease with unit of Singtel Optus
Aims Apac Reit (AA Reit) and its joint venture partner, Stockland, have secured a new agreement with its existing master tenant Optus Administration (Optus), for a further 12-year term at the Optus Centre property in Macquarie Park, New South Wales, Australia. Optus is a wholly-owned unit of Singtel Optus, a subsidiary of Singapore Telecommunications. Singtel Optus is Australia’s second largest…
https://www.businesstimes.com.sg/companies-markets/aa-reit-inks-12-year-master-lease-with-unit-of-singtel-optus
https://www.straitstimes.com/business/companies-markets/aa-reit-inks-12-year-master-lease-for-optus-centre-in-sydney

First Sponsor to fund, redevelop Sydney site into 49-storey tower
A consortium led by mainboard-listed First Sponsor has partnered Australia’s ICD Property to redevelop the iconic City Tattersalls Club (CTC) project in Sydney. CTC is one of the largest and oldest premier business and sporting clubs in Sydney. The property is situated at 192 to 204 Pitt Street, in the core central business district of Sydney. It has a site area of some 2,337 square metres.
https://www.businesstimes.com.sg/companies-markets/first-sponsor-to-fund-redevelop-sydney-site-into-49-storey-tower
https://www.straitstimes.com/business/companies-markets/singapore-company-to-help-redevelop-sydneys-iconic-125-year-old-city

Hatten Land’s S$5.1m share placement deadline extended to Nov 29
Catalist-listed developer Hatten Land’s plans to raise some S$5.1 million from a share placement will take a little longer than expected, the board disclosed on Saturday. Hatten Land asked the bourse for, and was given, an extension of five market days – that is, until Nov 29 – to complete the placement of 56.5 million new shares to construction and property management businessman Yang Tse Pin’s Kingpin…
https://www.businesstimes.com.sg/companies-markets/hatten-lands-s51m-share-placement-deadline-extended-to-nov-29

Maybank KE remains positive on S-Reits
The outlook for Singapore Reits (real estate investment trusts) remains positive, with third-quarter DPU (distribution per unit) skewed towards retail and industrial Reits, according to an industry note by Maybank Kim Eng. The brokerage is maintaining its sector bias towards industrial and hospitality Reits, with its top picks including Ascendas Reit (A-Reit), Mapletree Industrial Trust (MIT), CDL Hospitality Trusts (CDLHT)…
https://www.businesstimes.com.sg/companies-markets/maybank-ke-remains-positive-on-s-reits

Views, Reviews, Forum & Others

Commitment and conviction
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
REDAS brings together our member-firms to raise funds at our various social events such as golf tournament, gala dinner, etc to support numerous community and social causes. To further reinforce our commitment, we set up REDAS Foundation in 2013 and have been working with the Community Foundation of Singapore (CFS) since then. We find this a convenient arrangement as we can identify…
https://www.businesstimes.com.sg/views-from-the-top/commitment-and-conviction

Ensuring the future of industrial and logistics real estate
Retail players – landlords and retailers alike – have been confronted with the rise of e-commerce for almost a decade with online shopping disrupting supply chains around how goods are manufactured, stored and distributed. Shoppers are now putting pressure on supply chains to ensure product returns are carried out in a sustainable fashion without putting any more pressure on the environment. Most supply chains are…
https://www.straitstimes.com/business/invest/ensuring-the-future-of-industrial-and-logistics-real-estate

Forum: Beware debt trap from flipping HDB flat
The reason people flip properties is predicated on the rise in property prices over time (Increase minimum occupation period for new BTO projects, Nov 22). They buy not with the aim of occupying but selling them to earn a quick buck or generating passive rental income if they cannot sell. In an expanding economy, this may work well and many have enriched themselves from flipping.
https://www.straitstimes.com/forum/letters-in-print/beware-debt-trap-from-flipping-hdb-flat