The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 11th Sep 2019

Singapore Real Estate

Higher grants for first-time HDB buyers
The Ministry of National Development (MND) and the Housing & Development Board (HDB) are enhancing housing grants for first-time buyers as well as raising the income ceiling for public housing with the aim of making public homes more affordable and accessible for Singaporeans.   Announcing the policy changes at the HDB Awards 2019 on Tuesday, Minister for National Development Lawrence Wong highlighted that…

Condo resale prices flat between July and August
Singapore resale condominium and apartment prices remain unchanged for the month of August, while volume of sales fell from the previous month, going by monthly figures from real estate portal SRX Property on Tuesday.  There had been a 0.5 per cent drop in July from June, which in turn saw a drop from the figure in May.

Owner seeking at least S$155m for Killiney Rd freehold hotel site
A Killiney Road freehold hotel development site is up for sale via an expression of interest exercise, with the owner – private equity firm Lucrum Capital – seeking in excess of S$155 million for it.  Located in the Orchard Road precinct, the site has a land area of 13,148 square feet (sq ft) with a gross plot ratio of 2.8, and provisional permission has been obtained to rezone the site for hotel use.

Sycamore Tree saga: trade creditor throws spanner in the works
A trade creditor has thrown a spanner in the works for the Sycamore Tree residential project, potentially dragging 180-odd jaded home buyers including those of a related project at Laurel Tree into a protracted nightmare delay just when progress is being made to complete the units.  On Aug 20, unsecured creditor, Jay Machinery Pte Ltd filed a winding up application in Singapore’s High Court against Astoria…


Companies’ Brief

Keppel Land and BDO’s mixed-use project opens in Manila
Singapore President Halimah Yacob, who is currently on her first state visit to the Philippines, on Tuesday attended a ceremony to mark the opening of The Podium, an office and retail mixed-use development in Manila.  Keppel Philippines Properties, a subsidiary of Keppel Land, holds a 40 per cent stake in the project, while BDO Unibank – a member of Philippine conglomerate SM Group – and an associate company hold…

Head of OCBC’s China unit resigns to join CapitaLand
The head of OCBC’s China unit Kng Hwee Tin has resigned after more than three decades with the bank to join CapitaLand as chief executive officer, finance and corporate services, China, effective Oct 1.  This is a newly created role to support the growth of CapitaLand’s business in China.

PropertyGuru plans up to A$400m Australian IPO: sources
[Singapore] South-east Asian online realtor PropertyGuru Group, which counts buyout firms TPG Capital and KKR among its backers, is targeting an Australian IPO which could raise up to A$400 million (S$378.5 million) this year, sources with knowledge of the deal told Reuters on Tuesday.  Senior officials from the Singapore-based company, which operates real estate portals in the region, will start meeting Australian…

China Yuanbang eyes property deals with loans to firms worth 172m yuan
China Yuanbang Property Holdings said it had loaned a combined 172.1 million yuan (S$33.3 million) to two companies at 16 per cent per annum interest in order to eventually participate in their property development projects.  It had loaned 148.6 million yuan to Guangzhou Jiadi Xindu Development Co, an independent third party, and 23.5 million yuan to Kaiping Qingshi Auto Parts Co, which is 30.6 per cent…

Ying Li International calls for trading halt pending announcement
Property developer Ying Li International Real Estate requested a trading halt on Wednesday morning, pending the release of an announcement.  Its shares closed at 11.6 Singapore cents on Tuesday, down 0.4 cent or 3.33 per cent.



Global Economy & Global Real Estate

US seeks to privatise mortgage giants a decade after market meltdown

WeWork presses on with IPO, pushing SoftBank into a corner

Ken Griffin Adds a $99 Million Florida Beach House to His Property Empire

China PPI falls 0.8% as companies cut prices amid economic gloom

Australia business conditions deteriorate again in August: survey

Anbang Sells Luxury Hotels to South Korea’s Mirae for $5.8 Billion

Thailand keeps value-added tax at 7% for another year

How the ECB could boost the eurozone economy


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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