DAILY NEWS

Daily News – 10th April 2019

Singapore Real Estate

Private resale prices now just 0.6% below July 2018 peak: SRX
The private resale property market saw its biggest recovery in activity since being hit by the last bout of cooling measures, according to flash estimates from SRX Property on Tuesday. Flash data from the real estate portal showed the number of resale non-landed private homes sold last month jumped 59.3 per cent to 830 units after the Chinese New Year seasonal lull in February when 521 units were transacted.
https://www.businesstimes.com.sg/real-estate/private-resale-prices-now-just-06-below-july-2018-peak-srx
https://www.straitstimes.com/business/property/march-condo-resale-volume-at-highest-since-july-2018
https://www.srx.com.sg/research/53342/srx-spi-edges-01-higher-in-march-2019-non-landed-private-residential-resale-volume-highest-since-july-2018

Joo Chiat freehold commercial building up for sale with S$20m indicative price
A freehold four-storey commercial building with an attic at 118 Joo Chiat Road has been launched for sale with an indicative price of about S$20 million. This works out to S$1,077 per square foot, based on the existing gross floor area of about 18,571 sq ft. The property sits on a 4,686 sq ft site, which is zoned for “commercial” use under the Urban Redevelopment Authority’s Master Plan 2014. The building is currently approved for shops on the ground floor and offices on the upper floor.
https://www.businesstimes.com.sg/real-estate/joo-chiat-freehold-commercial-building-up-for-sale-with-s20m-indicative-price

Singapore Economy

Malaysia mulls alternatives to RTS Link: Mahathir
Malaysia has proposed, and Singapore has agreed to consider, suspending the Johor Baru-Singapore Rapid Transit System (RTS) Link Project for six months from April 1, in a manner similar to that for the Kuala Lumpur-Singapore High-Speed Rail (HSR) project. Malaysian Prime Minister Mahathir Mohamad and his Singapore Prime Minister Lee Hsien Loong have also instructed their officials to further deliberate on the matter and to finalise the terms of the suspension.
https://www.businesstimes.com.sg/government-economy/malaysia-mulls-alternatives-to-rts-link-mahathir
https://www.straitstimes.com/singapore/malaysia-looking-at-affordable-alternatives-to-rts-link-project

Companies’ Brief

CapLand to build on S$11b ASB deal in Singapore, China, India, Vietnam
Can one plus one add up to three, five, seven or even twenty? CapitaLand group chief executive and president Lee Chee Koon hopes so. The property giant will seek shareholder approval this Friday for its proposed S$11 billion mega-purchase of industrial and commercial real estate player Ascendas-Singbridge (ASB) from state-owned Temasek Holdings. If the deal is completed, the enlarged group, with assets under management of S$123.4 billion, will double down…
https://www.businesstimes.com.sg/real-estate/capland-to-build-on-s11b-asb-deal-in-singapore-china-india-vietnam
https://www.businesstimes.com.sg/companies-markets/equal-mix-of-cash-shares-to-pay-for-ascendas-singbridge-buy-is-prudent-capitaland
https://www.straitstimes.com/business/companies-markets/5050-cash-and-share-mix-for-purchase-of-ascendas-singbridge-most-prudent

Keppel Infra Trust preferential offer over 1.8 times subscribed
Keppel Infrastructure Trust (KIT) has received 832.3 million applications for its recently launched preferential offering, 1.8 times more than the total number of 455.31 million units offered, trustee-manager Keppel Infrastructure Fund Management said on Wednesday. The preferential offering, which closed on April 4, was made to entitled unitholders on a non-renounceable basis of 118 preferential offering units for every 1,000 existing units held.
https://www.businesstimes.com.sg/companies-markets/keppel-infra-trust-preferential-offer-over-18-times-subscribed
https://www.straitstimes.com/business/companies-markets/keppel-infra-trust-preferential-offer-over-18-times-subscribed

Surbana Jurong partners AeroLion Technologies to develop drone solutions
Urban and infrastructure consultancy Surbana Jurong and drone startup AeroLion Technologies have joined hands to develop unmanned aerial vehicle (UAV) technologies, or drone solutions, for built and natural environments, the parties said on Tuesday. Under a memorandum of understanding, the partners will develop UAV solutions for project applications such as land reclamation, workplace safety, site progression and fault detection in enclosed areas such as buildings and tunnels.
https://www.businesstimes.com.sg/transport/surbana-jurong-partners-aerolion-technologies-to-develop-drone-solutions
https://www.straitstimes.com/business/companies-markets/surbana-jurong-in-tie-up-with-aerolion-technologies-to-develop-drone

Ascott bags contracts to manage 14 properties across 8 countries
CapitaLand’s serviced residence arm The Ascott Ltd has secured contracts to manage 14 properties with over 2,000 units across eight countries, the group announced on Tuesday. The countries include China, Germany, India, Indonesia, Japan, Malaysia, Thailand and Saudi Arabia. Three of the 14 new properties are under its co-living “lyf” brand. They will be located in Fukuoka, Japan, Kuala Lumpur, Malaysia and Shanghai, China.
https://www.businesstimes.com.sg/real-estate/ascott-bags-contracts-to-manage-14-properties-across-8-countries
https://www.straitstimes.com/business/companies-markets/ascott-snags-contracts-to-manage-14-properties-across-8-countries

Hmlet to open its largest co-living space
Singapore based co-living company, Hmlet, has signed a new property in the Tanjong Pagar, Cantonment Downtown CBD precinct. The startup will operate more than 150 rooms as serviced apartment units at its largest co-living building to date. The space is set to open in July and will see Hmlet increase its members to more than 2,400 across the Asia-Pacific by end-2019, Hmlet said. Located at 150 Cantonment Road, the property has a site area of about 76,000 square feet, with a gross floor area of about 47,000 sq ft.
https://www.businesstimes.com.sg/real-estate/hmlet-to-open-its-largest-co-living-space
https://www.straitstimes.com/business/hmlet-adds-cbd-site-as-its-largest-co-living-property

Views, Reviews, Forum & Others

More M&A could be in the offing for S-Reits
OUE Commercial Reit (OUE C-Reit) and OUE Hospitality Trust (OUE H-Trust) are coming together in what could be the second merger among S-Reits in the past six months. At about S$2.9 billion, the enlarged Reit would be Singapore’s 10th largest Reit by market capitalisation and at S$6.8 billion, the eighth largest by assets – with exposure to the office, hospitality and retail sectors. Its assets would include four from OUE C-Reit – OUE Bayfront, One Raffles Place, OUE Downtown Office and Lippo Plaza…
https://www.businesstimes.com.sg/companies-markets/more-ma-could-be-in-the-offing-for-s-reits