The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 10th Mar 2020 (Tue)

Singapore Real Estate

Condo resale prices and sales drop in February, hurt by coronavirus outbreak
Singapore – Resale prices and sales of non-landed private homes were hit last month from what one market observer called a “triple whammy” of coronavirus, the Chinese New Year seasonal slowdown and supply of new units from recent launches.

DPM Heng Swee Keat: Helping enterprises overcome difficulties, Associations and owners should cooperate to promote a fair tenancy framework
王瑞杰:助企 商会与合作推公平租


Companies’ Brief

Aspial to issue S$50m 6.5% 3-year notes at par
Aspial Corporation, which sells jewellery and develops property, on Monday said it is offering S$50 million worth of three-year notes at par. The notes, which will mature on March 20, 2023, will have a fixed coupon rate of 6.5 per cent per annum, payable semi-annually in arrear.

Mapletree Investments gets 200m euro sustainability-linked loan
Mapletree Investments has obtained a 200 million euro (S$310 million) sustainability-linked loan from OCBC Bank, which will be used for general working capital and corporate funding purposes. he loan – which the bank said is one of the largest sustainability-linked loans for Singapore real estate developers – is linked to key environmental, social and governance (ESG) initiatives that Mapletree focuses on.

Fitch gives Starhill Global Reit a ‘BBB’ long-term default rating
Fitch Ratings has assigned Starhill Global Real Estate Investment Trust (SGReit) a “BBB” long-term issuer default rating with a stable outlook. The credit ratings agency has also assigned a “BBB” long-term rating to SGReit’s S$2 billion multi-currency medium-term notes programme and the S$295 million outstanding notes issued off the programme.

Lendlease names MD for data centre business
Property and infrastructure group Lendlease has appointed Sam Lee as managing director of data centres. He will be responsible for leading Lendlease Data Centre Partners, a US$1 billion joint venture which invests in data centres in the Asia-Pacific region. The joint venture with an institutional investor was launched in July 2019.


Views, Reviews, Forum & Others

Founders’ Memorial design chosen, to be completed in 2027
Come 2027, the Marina Bay skyline will be reshaped with the addition of a new building – one with clean lines and a flowing green terrain that leads to an amphitheatre. It is the upcoming Founders’ Memorial, which honours Singapore’s pioneer leaders, located in a 5-hectare site in Bay East Garden.


Singapore Budget 2020

Make the most of S$4b package first, DPM Heng tells firms
While the government is prepared to roll out a second package to help businesses tide over the coronavirus outbreak, companies should first try to make the most of the existing S$4 billion package, said Deputy Prime Minister Heng Swee Keat.

Business leaders call for fine-tuning of some virus help measures for firms
Business leaders yesterday described measures in the Budget to help firms cope with the coronavirus outbreak as substantial and wide-ranging, but said some of these initiatives still need to be fine-tuned or improved.

DPM Heng to speak at ST-BT Budget 2020 Roundtable
With the annual Committee of Supply debate having come to an end last week, Deputy Prime Minister and Finance Minister Heng Swee Keat will share further views on Singapore’s outlook amid the Covid-19 outbreak, as well as longer-term structural issues, at a roundtable organised by The Business Times and The Straits Times on Wednesday.

Support for businesses in Singapore
Around $8.3 billion will be allocated over the next three years to help companies build up capabilities and transform to leverage future opportunities. Several measures have been introduced or enhanced in Budget 2020, targeted at businesses ranging from micro enterprises to multinational corporations, to boost the
business landscape in Singapore.


Update on COVID-19 (Coronavirus Disease 2019) situation

Covid-19 likely to linger for a long time, say experts
The number of people diagnosed with Covid-19 is growing around the world and, as the epicentre of the outbreak shifts away from China, it is unlikely that the disease will taper off the way that Sars did, experts said yesterday.

Threat of coronavirus pandemic now ‘very real’: WHO
[Geneva] The World Health Organization warned on Monday there was now a “very real” threat that the new coronavirus outbreak will become a pandemic, but stressed the virus could still be controlled. After global Covid-19 infections passed the 100,000-mark, WHO chief Tedros Adhanom Ghebreyesus told reporters that “the threat of a pandemic has become very real.”
*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

Wall Street trade temporarily halted as stocks sink 7%

Markets crash as oil price war adds to virus worries

Oil price war can lead to global recession

Oil-related stocks hit hardest amid price war

US: Dow ends 7.8% lower, joining global rout on virus fears

Recession forecast for Australia, US and Europe

Major Swedish fund fears rate cuts more than virus

Panic selling grips currency markets after oil shock

Frantic buying of Treasuries sees yield curve inside 1% for first time

UN warns of virus impact on swelling youth unemployment

China’s SMEs struggling to stay afloat despite Beijing’s efforts to restart economy

Virus going global means China’s factories will get hit again

Surging yen catches Japan’s retail investors off guard

Big GDP contraction, spike in yen add to recession fears

Digitising land records puts India’s poor at risk of loss of privacy and land


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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