DAILY NEWS

Daily News – 29th, 30th and 1st July 2019

Singapore Real Estate

Singapore private property price index up 1.3% in Q2: URA flash estimate
The private property price index rose 1.3 per cent in the second quarter of the year, according to flash estimates by the Urban Redevelopment Authority (URA) on Monday. Going by track record, prices of non-landed private residential properties rose by 1.5 per cent in the Core Central Region (CCR) compared to the 3 per cent fall in the previous quarter. As for the Rest of Central Region (RCR)…
https://www.businesstimes.com.sg/real-estate/singapore-private-property-price-index-up-13-in-q2-ura-flash-estimate
https://www.straitstimes.com/business/property/private-property-price-index-up-13-in-q2-ura-flash-estimate
https://www.channelnewsasia.com/news/business/private-home-prices-ura-q2-2019-flash-estimates-property-11676188

HDB resale flat prices dip 0.2% in Q2: flash estimates
Housing Board (HDB) resale flat prices dipped 0.2 per cent in the second quarter of this year compared with the quarter before, according to the latest HDB flash estimates released on Monday. The resale price index was 130.8, down from 131 in the first quarter of the year.
https://www.businesstimes.com.sg/real-estate/hdb-resale-flat-prices-dip-02-in-q2-flash-estimates
https://www.channelnewsasia.com/news/singapore/hdb-flats-resale-prices-fall-q2-2019-continue-decline-11676060

Govt trims industrial land supply amid weaker growth outlook
The Singapore government has reduced industrial land supply for the second half of 2019 as a global manufacturing slowdown and rising trade tensions have lowered Singapore’s growth outlook. Under the Industrial Government Land Sales (IGLS) programme for the second half of 2019, the government will release four sites on the confirmed list and six sites on the reserve list…
https://www.businesstimes.com.sg/real-estate/govt-trims-industrial-land-supply-amid-weaker-growth-outlook
https://www.straitstimes.com/business/property/govt-trims-industrial-land-supply-for-second-half-of-2019

Housing loans extend drop in May but overall lending rises on business loans: MAS data
Unsurprisingly, housing loans in Singapore shrank for the fifth straight month in May. At S$202.54 billion, this is a 13-month low as cooling measures continue to work their way through the property market. Preliminary data from the Monetary Authority of Singapore (MAS) released on Friday shows that mortgages booked in May were 0.1 per cent and 0.3 per cent lower month-on-month and year-on-year respectively.
https://www.businesstimes.com.sg/banking-finance/housing-loans-extend-drop-in-may-but-overall-lending-rises-on-business-loans-mas-0
https://www.straitstimes.com/business/economy/housing-loans-down-in-may-for-5th-straight-month-mas-data

Funan mall reopens with swankier vibe after major S$560m, 3-year renovation
The new Funan mall welcomed its first customers on Friday morning, unveiling its new look after a major S$560 million renovation which took three years. The former IT mall, which closed in mid-2016 for redevelopment, has swapped its geeky image for a swankier lifestyle vibe. A six-storey steel structure called the Tree Of Life forms the centrepiece of the revamped mall…
https://www.businesstimes.com.sg/real-estate/funan-mall-reopens-with-swankier-vibe-after-major-s560m-3-year-renovation
https://www.channelnewsasia.com/news/singapore/funan-mall-opens-doors-revamp-three-years-11669816

Completed condo prices inch up, post 0.2% rise in May: NUS index
Prices of completed private apartments and condominiums in Singapore inched up 0.2 per cent in May from the previous month, continuing their advance after an upwardly revised 0.3 per cent increase in April. The figures are flash estimates released on Friday by the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI), which tracks prices of completed non-landed private homes.
https://www.businesstimes.com.sg/real-estate/completed-condo-prices-inch-up-post-02-rise-in-may-nus-index
https://www.straitstimes.com/business/property/completed-condo-prices-inch-up-again-with-02-rise-in-may-nus-index

Companies’ Brief

CDL to start preview of Haus on Handy on June 29
City Developments Limited (CDL) will commence exclusive private previews for the 188-unit Haus on Handy on June 29. Located in the Handy Road residential area in District 9, Haus on Handy is a two-minute walk to the Dhoby Ghaut MRT interchange for the North-South, North-East and Circle Lines. The development is expected to be launched in July.
https://www.businesstimes.com.sg/companies-markets/cdl-to-start-preview-of-haus-on-handy-on-june-29

CapitaLand wraps up Ascendas-Singbridge buyout|
Mainboard-listed property heavyweight CapitaLand will mark a new milestone on July 1 as an enlarged group following the completion of its S$11 billion acquisition of Ascendas-Singbridge. In a regulatory filing by CapitaLand on Sunday, the real estate giant announced that it had completed its transaction with Temasek and acquired all the issued shares of Ascendas and Singbridge. With this, the group has become…
https://www.businesstimes.com.sg/companies-markets/capitaland-wraps-up-ascendas-singbridge-buyout
https://www.businesstimes.com.sg/companies-markets/ascendas-singbridges-coo-and-cfo-jonathan-yap-to-be-capitaland-financials
https://www.straitstimes.com/business/companies-markets/capitaland-completes-purchase-of-ascendas-singbridge

Lendlease announces US$1 billion data centre partnership
Australian-listed property player Lendlease has announced a partnership with an institutional investor to invest US$1 billion in data centres across the Asia-Pacific region. In a media statement on Sunday, Lendlease said it will fund 20 per cent of the partnership with the remaining 80 per cent by a large institutional investor. It did not name the institutional investor.
https://www.businesstimes.com.sg/real-estate/lendlease-announces-us1-billion-data-centre-partnership
https://www.straitstimes.com/business/companies-markets/lendlease-in-tie-up-to-invest-us1b-in-data-centres-across-asia-pac

Suntec Reit to acquire Grade A office building in Sydney for A$297m
Suntec Real Estate Investment Trust (Suntec Reit) has entered into agreements to acquire a freehold Grade A office building in Sydney, Australia for A$297 million (S$282 million), manager of the trust, ARA Trust Management (Suntec), announced on Monday morning before the market opened. ARA Trust Management (Suntec) holds office and retail assets that include the Suntec City retail mall…
https://www.businesstimes.com.sg/companies-markets/suntec-reit-to-acquire-grade-a-office-building-in-sydney-for-a297m
https://www.straitstimes.com/business/companies-markets/suntec-reit-to-buy-grade-a-office-building-in-sydney-for-282m

Dasin Retail Trust to buy China shopping mall for 1.37b yuan
Mainboard-listed Dasin Retail Trust will purchase Doumen Metro Mall in China for 1.374 billion yuan (S$274.8 million), its trustee manager announced in a filing late on Sunday night. The trustee manager plans to fund the acquisition through a mix of debt and equity financing. It is proposing a private placement of new units in Dasin Retail Trust at an illustrative issue price of S$0.836 to raise around S$68.8 million…
https://www.businesstimes.com.sg/companies-markets/dasin-retail-trust-to-buy-china-shopping-mall-for-137b-yuan
https://www.straitstimes.com/business/companies-markets/dasin-retail-trust-to-buy-china-shopping-mall-for-2748m

Prime US Reit prices IPO at US$0.88 per unit
KBS Realty Advisors has priced the initial public offering (IPO) of Prime US Reit at US$0.88 per unit to deliver a forecasted dividend yield of 7.4 per cent in 2019, with a reduced deal size. The total offering was lowered to US$612 million from US$705 million previously. The offering comprises 360 million cornerstone units and 335 million units for public allocation and placement.
https://www.businesstimes.com.sg/companies-markets/prime-us-reit-prices-ipo-at-us088-per-unit