DAILY NEWS

Daily News 12th December 2018

Singapore Real Estate

En bloc hopefuls cut prices as reality bites
Amid a decidedly quieter collective sale market, some homeowners have become more measured in their expectations as seen by the downward price adjustments at some en bloc potentials. The latest of these is Park View Mansions, which relaunched its tender on Wednesday at a reserve price of S$250 million, or 22 per cent lower than when it first launched earlier this year.
https://www.businesstimes.com.sg/real-estate/en-bloc-hopefuls-cut-prices-as-reality-bites

White site at Woodlands Ave 2 ‘likely to require deep pockets’
Bidders for the white site at Woodlands Avenue 2 made available for application under the Government Land Sales (GLS) reserve list are likely to be limited to consortiums and major developers with deep pockets, say market observers. This comes from the land parcel being big and tied to some development restrictions. The site is being lined up as a key anchor in the upcoming 100-hectare Woodlands Regional Centre, which is to be developed into a commercial hub over the next 15 years.
https://www.businesstimes.com.sg/real-estate/white-site-at-woodlands-ave-2-likely-to-require-deep-pockets
https://www.straitstimes.com/business/275ha-white-site-in-woodlands-up-for-sale

Nov condo resale prices reverse 3 months of slide with 0.2% gain
Resale prices of private non-landed homes in Singapore increased in November, following three straight months of declines after property cooling measures were introduced in July, flash estimates by real estate portal SRX Property showed on Tuesday. Condominiums and private apartment resale prices strengthened by 0.2 per cent last month from October. This follows a 0.3 per cent drop in October, a figure revised from an earlier estimated decline of 0.4 per cent.
https://www.businesstimes.com.sg/real-estate/nov-condo-resale-prices-reverse-3-months-of-slide-with-02-gain
https://www.straitstimes.com/business/property/condo-resale-prices-up-02-in-nov-after-falling-for-three-months-srx

Singapore property ‘standstill’ expected in 2019: analysts
Just when Singapore’s residential property market was reviving after a four-year slump, government moves to curb the exuberance might play spoiler going into the new year. Home prices that are forecast to climb as much as 10 per cent this year could remain flat in 2019 and may decline as much as 3 per cent, estimates from property brokers compiled by Bloomberg News showed.
https://www.businesstimes.com.sg/real-estate/singapore-property-standstill-expected-in-2019-analysts
https://www.straitstimes.com/business/property/home-prices-expected-to-remain-flat-or-dip-next-year

Companies’ Brief

Sigrid Zialcita to be Asia-Pacific Real Estate Association CEO from 2019
Sigrid Zialcita, a Cushman & Wakefield veteran, will become Asia-Pacific Real Estate Association (APREA)’s chief executive officer from next year. She replaces outgoing chief executive Peter Verwer, the regional industry association said in a statement on Tuesday. Her appointment is effective Jan 2.
https://www.businesstimes.com.sg/real-estate/sigrid-zialcita-to-be-asia-pacific-real-estate-association-ceo-from-2019

Chip Eng Seng redeems S$207m in notes
Chip Eng Seng Corporation has redeemed S$107 million in the principal amount of its Series 002 notes, and S$99.75 million in principal amount of its Series 003 notes. This came after some noteholders exercised a put option following the sale of 29.73 per cent of the company’s shares by seven of Chip Eng Seng’s shareholders, including founder Lim Tiam Seng and executive deputy chairman Lim Tiang Chuan, to Celine Tang, the managing director of SingHaiyi.
https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-redeems-s207m-in-notes

Hong Lai Huat calls off S$15.7m sale of hotel in Cambodia project
Hong Lai Huat’s S$15.7 million sale of a hotel at its D’Seaview project in Sihanoukville, Cambodia has been terminated after the buyer did not make full payment. The mainboard-listed property developer said in a Singapore Exchange announcement that it received partial payment from the buyer as at Tuesday for the 98-room, 10-storey boutique hotel.
https://www.businesstimes.com.sg/companies-markets/hong-lai-huat-calls-off-s157m-sale-of-hotel-in-cambodia-project