DAILY NEWS

Daily News – 10th January 2019

Singapore Real Estate

Singapore condo rents dip 0.2% in Dec; HDB rents up 0.6%: SRX flash estimates
Rents for Singapore condominiums and private apartments reversed course to notch a small decrease in December, while HDB rents rose after dipping in November, according to a report on Wednesday. Flash estimates from real estate portal SRX Property show rents for non-landed private residential properties fell by 0.2 per cent month on month. Year on year, rents last month were 0.1 per cent higher than in December 2017. They are still 19.8 per cent off their peak in January 2013.
https://www.businesstimes.com.sg/real-estate/singapore-condo-rents-dip-02-in-dec-hdb-rents-up-06-srx-flash-estimates
https://www.straitstimes.com/business/property/condo-rents-down-02-while-hdb-rents-up-06-in-december
https://www.srx.com.sg/research/51982/non-landed-private-residential-rents-decrease-by-02-and-hdb-rents-increase-by-06-in-december-2018

Opening of Botanic Gardens Gallop Rd extension delayed by a year
The opening of an 8-hectare extension to the Botanic Gardens – initially scheduled for the end of 2018 – has been pushed back by around 12 months due to construction issues. The Gallop Road extension, which will feature attractions including an arboretum full of endangered rainforest trees, a hiking trail and galleries, was announced in 2015 and a completion date of late 2018 was set.
https://www.businesstimes.com.sg/real-estate/opening-of-botanic-gardens-gallop-rd-extension-delayed-by-a-year
https://www.straitstimes.com/singapore/opening-of-botanic-gardens-extension-pushed-back
https://www.channelnewsasia.com/news/singapore/singapore-botanic-gardens-unveils-plans-gallop-extension-11101562

Leonie Gardens seeks to go en bloc again at $800m
Leonie Gardens joins a growing list of die-hard sellers trying their luck to go en bloc in the new year. The prime District 9 condominium in Leonie Hill, whose collective sales agreement expires in May, relaunched its tender for a second time at the same reserve price of $800 million last month. The tender closes on Jan 22 at 3pm. The 138-unit condo first launched for sale in May last year, and that tender closed without a bid on June 21.
https://www.straitstimes.com/business/property/leonie-gardens-seeks-to-go-en-bloc-again-at-800m

Companies’ Brief

Ascott Reit sells Raffles Place property for S$134m net gain
Private investor Cheong Sim Lam, whose family developed International Plaza and the Hyatt Regency Singapore, snapped up Ascott Reit’s serviced apartment building Ascott Raffles Place Singapore for S$353.3 million. The sale price is some 64.3 per cent above the property’s latest valuation of S$215 million as at Dec 31 2018. After accounting for transaction related expenses, Ascott Reit is expected to realise an estimated net gain of S$134 million.
https://www.businesstimes.com.sg/companies-markets/ascott-reit-sells-raffles-place-property-for-s134m-net-gain
https://www.straitstimes.com/business/property/private-investor-buys-ascott-raffles-place-for-353m
https://www.channelnewsasia.com/news/business/ascott-raffles-place-singapore-sold-353-million-reit-11102896

ESR Reit up 1.92%; analysts see further gains ahead
ESR Reit rose 1.92 per cent on Wednesday and looks poised to rise further. Analysts cite the Reit’s growth in size, investors looking for safe-haven yield assets and an improving outlook for industrial space as key driving factors. The counter surged some 3.85 per cent to S$0.54 by midday, up from its opening price of S$0.52. It lost steam in afternoon trade before closing 1.92 per cent higher at S$0.53, with 19.4 million shares changing hands.
https://www.businesstimes.com.sg/companies-markets/esr-reit-up-192-analysts-see-further-gains-ahead

Views, Reviews, Forum & Others

Singapore Works: Designing both a city and a country
Across Singapore, high-rise public flats tower over the urban landscape. More than 80 per cent of Singaporeans live in Housing Board units, making the humble HDB flat one of the Republic’s most prominent success stories. But every new development – from housing to transport infrastructure and amenities – happens only through careful planning.
https://www.straitstimes.com/singapore/designing-both-a-city-and-a-country