DAILY NEWS

Daily News – 10th Oct 2019

Singapore Real Estate

Sept condo, HDB rents down from Aug
Rental prices in Singapore fell in September from August for both non-landed private homes and HDB flats, though the rents rose on a year-on-year basis. SRX flash data released on Wednesday also indicated that rental volumes fell for private condominiums, but rose for HDB flats on a month-on-month basis.
https://www.businesstimes.com.sg/real-estate/sept-condo-hdb-rents-down-from-aug
https://www.straitstimes.com/business/property/condo-hdb-rents-dip-in-september-srx

3 CBD commercial shophouses up for sale for total of S$31m
Three shophouses – at Telok Ayer Street, Stanley Street and Smith Street – have been launched for sale for a total of S$31 million via an expression of interest (EOI). A trust company has appointed Knight Frank Singapore to offer the portfolio of three commercial conservation shophouses, and these can be purchased separately or as a group.
https://www.businesstimes.com.sg/real-estate/3-cbd-commercial-shophouses-up-for-sale-for-total-of-s31m

New hotel in South Bridge Road rides on co-living trend
A new co-living hotel has opened in Chinatown, offering shared facilities for work and socialising for as little as $60 a night. The 40-room ST Signature Chinatown in South Bridge Road also features a smart self-check-in system that helps to cut down on waiting time for guests, said Katrina Group, which launched the hotel through its hospitality arm yesterday.
https://www.straitstimes.com/business/property/new-hotel-in-south-bridge-road-rides-on-co-living-trend

Co-working space for biotech start-ups in Singapore will launch next month
With pastel-coloured walls, neon decorations and plush sofas, a co-working space in Biopolis can be mistaken for a cafe or a blogshop’s retail outlet. But NSG BioLabs, fitted with a sterile lab and high-tech equipment, is a 15,000 sq ft co-working space for biotech start-ups. To be launched next month, it looks set to play host to some of the nation’s brightest minds.
https://www.straitstimes.com/business/co-working-space-for-biotech-start-ups-in-spore-to-be-launched-next-month

Companies’ Brief

Frasers Property, Sekisui House JV sells 3 Australia retail assets for A$174.5m
Frasers Property Australia, together with its joint venture partner Sekisui House Australia, has sold three retail assets in their mixed-use Central Park project for A$174.5 million (S$162.4 million). The three freehold retail assets – Central Park Mall, DUO Retail and Park Lane Retail – have a combined gross leasable area of 14,600 square metres, and are being sold to a consortium comprising Fortius Funds Management…
https://www.businesstimes.com.sg/companies-markets/frasers-property-sekisui-house-jv-sell-3-australia-retail-assets-for-a1745m

Christopher Tang to retire as CEO of Frasers Property Singapore
Christopher Tang is stepping down as CEO of Frasers Property Singapore at the end of 2019 after 18 years with the group. Mr Tang, 59, will assume a new position of senior adviser from Jan 1, 2020, while continuing to serve as a director on the boards of Frasers Property (Singapore); Frasers Centrepoint Asset Management, manager of Frasers Centrepoint Trust (FCT); and Frasers Commercial Asset Management…
https://www.businesstimes.com.sg/companies-markets/christopher-tang-to-retire-as-ceo-of-frasers-property-singapore
https://www.straitstimes.com/business/companies-markets/frasers-property-spore-ceo-to-retire-group-forms-new-retail-business-unit

Keppel DC Reit raises S$242.8m in gross proceeds from preferential offering
Mainboard-listed Keppel DC Reit has raised S$242.8 million in gross proceeds from its oversubscribed preferential offering, the company announced in a bourse filing on Wednesday. The cash call is part of Keppel DC Reit’s move to raise S$478 million via the offering and a separate private placement to fund its acquisition of two data centres in Singapore later this year.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-raises-s2428m-in-gross-proceeds-from-preferential-offering

Views, Reviews, Forum & Others

PropertyGuru: Portal not enough
Loss-making online real estate classifieds marketplace PropertyGuru may boast of its pole position in its core markets in South-east Asia, but it has to find a way to monetise its data in order to propel its growth beyond just a reliance on advertising revenue. To this end, it launched its initial public offering (IPO) on Monday, spelling out its plans to use some of the listing proceeds to explore expansion into direct…
https://www.businesstimes.com.sg/companies-markets/propertyguru-portal-not-enough