Redas seeks longer project sales period for land acquired before latest cooling measures
The Real Estate Developers’ Association of Singapore (Redas) hopes that the government will extend the sales period of projects under the additional buyer’s stamp duty (ABSD) requirements on land acquired before Dec 16, 2021, it said on Wednesday (Feb 9) at its annual spring festival celebration.
Singapore Real Estate
Buying Singapore property after cooling measures: Fomo or wait and see?
From a capital appreciation perspective, is it wiser to bide your time amid new cooling measures, or act on the “fear of missing out” (Fomo) and rush to snap up properties? In its analysis of historical sales data, the Institute of Real Estate and Urban Studies (IREUS) found that properties…
CapitaSpring obtains TOP, secures 93% in leasing commitment
Integrated development CapitaSpring has received its temporary occupation permit (TOP) in end-2021, marking the end of its construction, the manager of CapitaLand Integrated Commercial Trust (CICT) said on Wednesday (Feb 9) in a regulatory update.
Freehold strata retail podium in Bukit Timah up for sale with S$30m indicative price
A freehold ground-floor strata retail podium at Coronation Shopping Plaza on 587 Bukit Timah road is up for sale via expression of interest with an indicative price of about S$30 million.
Row of 3 shophouses along Kreta Ayer Road up for sale with S$49m guide price
A row of 3 freehold, 3-storey corner commercial shophouses have been put up for sale via an expression of interest (EOI) with a S$49 million guide price, announced sole marketing agent Savills Singapore on Wednesday (Feb 9).
Cooling measures won’t stop wealth creation through owning homes but do combat inequality
Financial inequality can stem from disparity in wages and wealth among people. Tools to combat the former can include raising wages of lower-wage workers, curbing excessive pay of top management, and ensuring progressiveness in income tax.
Real estate tokenisation – what does it mean for investors?
Real estate tokenisation is a trend that’s been gaining traction as it lowers the barriers to entry for investors, while providing access to real estate assets they may not ordinarily get exposure to. Still, analysts highlight certain aspects to consider before investing in this fast-developing trend that offers a faster and cheaper way of fund-raising and financing for real estate owners.
GST offset package can cover about 10 times cost of tax hike for some: Lawrence Wong
A package that will be rolled out to cushion the impact of the impending goods and services tax (GST) hike is set to cover about 10 times the extra amount some families will spend each year, said Finance Minister Lawrence Wong on Wednesday (Feb 9).
Firms more optimistic about business prospects in Q4 though profits declined: survey
Singapore firms are much more optimistic about business prospects for the next 6 months, compared to the third quarter of 2021, the latest quarterly Business Times-Singapore University of Social Sciences (BT-SUSS) Business Climate Survey has found.
Singapore Government to invest $150 million in space-tech R&D
The Government will be investing $150 million in research and development (R&D) of space capabilities applicable to key industrial sectors for Singapore and daily life, said Minister for Trade and Industry Gan Kim Yong on Wednesday (Feb 9).
Brokers’ take: Jefferies initiates ‘buy’ on CapitaLand Investment with S$4 target price
Jefferies on Wednesday (Feb 9) initiated coverage on CapitaLand Investment (CLI) with a “buy” call and target price of S$4, citing its growth of private funds and lodging business, recovery of pandemic-hit sectors and pivot to new economy assets as factors underpinning its future growth.
Frasers’ hospitality portfolio challenged by pandemic headwinds
Frasers Property’s hospitality portfolio remains challenged by pandemic headwinds, the company said in a first-quarter business update late on Wednesday (Feb 9), even as it reported higher revenue per average room (RevPAR) across its Asia-Pacific (ex-North Asia) and Europe portfolios.
Possible Orchard Towers sale, easing pandemic curbs could be catalysts for Hiap Hoe
The Covid-19 pandemic has not been kind to Hiap Hoe, a real estate company with a range of properties in Australia, Singapore and the United Kingdom spread across the hospitality, retail, commercial and residential sectors.
Keppel to push on with arbitration proceedings against SPH despite termination notice
Keppel Corporation on Thursday (Feb 10) said it will continue with its arbitration proceedings against Singapore Press Holdings (SPH), after SPH decided to terminate Keppel’s implementation agreement relating to its takeover offer late Wednesday.
Brokers’ take: Analysts maintain ‘buy’ on Ascendas Reit post-H2 results with some lowering TP
Several brokerages have reiterated their “buy” calls on Ascendas Real Estate Investment Trust (Reit) in reports on Tuesday (Feb 8) and Wednesday, following the Reit’s H2 FY2022 financial results staying broadly in line with expectations.
ALog’s manager spells out rationale for revised offer in merger with ESR-Reit
The revised scheme consideration for ESR Reit’s offer for ARA Logos Logistics Trust (ALog) was determined by various factors such as the merger’s commercial appeal, the quality of ALog’s portfolio and the strong conviction that a merger is the best way forward for both, ALog’s manager has said.
Views, Reviews, Forum & Others
GST hike: Businesses should prepare for impact
Minister for Finance Lawrence Wong is widely expected to make an announcement relating to the Goods and Services Tax rate hike on Budget Day. Given the “sooner than later” stance maintained by the government and the lead time required by businesses to prepare for the GST hike, it will be beneficial for companies to start their preparations early.
Undervalued Reits: selling assets trumps mergers
In spite of the Covid-19 pandemic, real estate investment trusts (Reits) owning retail and office assets posted decent results for 2021. Suntec Reit, which owns retail and office properties in Singapore, Australia and the United Kingdom posted growth in distribution per unit (DPU) for the year ended Dec 31, 2021 of 17.1 per cent.
Clearing the air on Covid-19 transmission
On my way to work, I often walk past a smoking area. While second-hand smoke can harm passers-by, cigarette smoke can at least be seen and smelled so the risk to others is apparent. Like tobacco smoke, the Covid-19 virus is also airborne: it is exhaled, floats around and can fill a room.
Business leaders in Singapore report better work-life balance after start of pandemic: Survey
The pandemic seems to have improved the work experience for at least one group – senior business leaders, noted a new survey. It found that 72 per cent of directors and C-suite leaders polled here last year said the pandemic has had a positive impact on their work-life balance.
Update on COVID-19 (Coronavirus Disease 2019) Situation
New local Covid cases drop to 10,175; patients hospitalised up at 1,205
There were 1,205 hospitalised Covid-19 cases on Wednesday (Feb 9), with 30 patients in the intensive care unit (ICU). This is the fifth day in a row hospitalisation numbers have crossed the 1,000 mark. On Tuesday, there were 1,194 Covid-19 cases in hospital and 23 people in the ICU.
Covid cases surpass 400 million as Omicron grips world
Global Covid-19 cases surpassed 400 million on Wednesday (Feb 9), according to a Reuters tally, as the highly contagious Omicron variant dominates the outbreak, pushing health systems in several countries to the brink of capacity.
askST: Can Singaporeans travel to Australia?
On Monday (Feb 7), Australian Prime Minister Scott Morrison said Australia will fully reopen its borders from Feb 21 to all travellers, such as tourists and students, who hold visas and are double-vaccinated.
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation
Global Economy & Global Real Estate
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