Singapore Real Estate
Condo rents slip in October, HDB rents inch up: SRX
Rents for non-landed private homes slipped in October from the previous month, while those for HDB flats edged up, although they were both higher than a year ago. Overall condo rents declined 0.2 per cent from September, but rose 4.2 per cent year on year. However, they are still 16.9 per cent below their peak in January 2013.
The Arcade up for collective sale again with S$780m asking price
The owners of The Arcade in Collyer Quay are making a second stab at a collective sale, with an asking price of S$780 million, 10 per cent less than the S$868 million they had asked for in 2014. The new price translates to an estimated land rate of S$2,833 per square foot per plot ratio, said marketing agent Colliers International in a statement on Wednesday.
CapitaLand’s Bridge+ to set up fintech hub in Singapore’s CBD
Bridge+, an extension of CapitaLand’s business space portfolio, on Wednesday said it will actively support the growth of fintech players, and “enliven the community” here, with the group’s upcoming development in the central business district (CBD). Slated to open in the third quarter next year, Bridge+ will take up 56,000 square feet of space in CapitaLand’s 29-storey, Grade A office development at 79 Robinson Road…
SPH buys 284-bed student accommodation in Germany for 15.6m euros
Singapore Press Holdings (SPH) is diversifying its purpose-built student accommodation portfolio beyond the UK, with a 15.6 million euro (S$23.4 million) acquisition in Bremen, Germany. SPH’s wholly-owned subsidiary Straits Nine has entered into an asset purchase agreement with Liberty Living (Galileo Residenz) for the proposed acquisition, SPH, which publishes The Business Times, said early on Thursday morning.
OUE C-Reit posts 44% rise in Q3 DPU to 0.79 S cent
OUE Commercial Reit (OUE C-Reit) on Wednesday posted a third-quarter distribution per unit (DPU) of 0.79 Singapore cent, up 43.6 per cent from a DPU of 0.55 cent for the same period a year earlier, thanks to gains from its merger with OUE Hospitality Trust in September. Total income available for distribution rose 85.9 per cent from a year ago to S$29.5 million.
Tuan Sing Q3 earnings slump 95% on revenue drop, higher finance costs
Tuan Sing Holdings’ Q3 net profit plunged 95 per cent to about S$206,000 from S$3.8 million a year ago, the property developer announced on Wednesday. This came on the back of a 29 per cent drop in revenue to S$67 million from S$94.6 million, on lower revenue from the industrial services and property segments. Finance costs also increased 22 per cent to S$13.1 million, mainly due to higher interest expense for 18 Robinson.
Propnex Q3 profit down 15.2% at S$6.1m
Real estate agency propnex on Wednesday posted a 15.2 per cent plunge in net profit for the fiscal third-quarter from a year ago, as it took in lower commission income, while bearing higher staff costs and depreciation expenses. Net profit for the three months ended Sept 30, 2019 stood at S$6.1 million, compared with S$7.2 million last year. This translated to earnings per share of 1.65 Singapore cents…
Activist fund calls for merger of Sabana Reit, ESR Reit
ESR Cayman’s cross ownership of the managers of Sabana Reit and ESR Reit puts the former at a disadvantage when the two Reits’ investment mandates overlap and ESR should resolve the issue by merging them, activist fund Quarz Capital Management believes. In a letter on Thursday, Quarz argued that Sabana Reit trades at a sharp discount to its book value of S$0.56 per unit because it is in direct…
Eagle Hospitality Trust posts lower than forecast DPU of 1.649 US cents for Q3
Eagle Hospitality Reit’s (EHT) distributable income (DI) for the three months ended Sept 30 was US$14.4 million, down 1.2 per cent from the S$14.5 million projected at the point of listing, the real estate investment trust (Reit) reported on Wednesday night. Distribution per unit (DPU) for the third quarter was 1.649 US cents, 1.3 per cent lower than the 1.67 US cents that was forecast.
Banyan Tree Q3 loss deepens to S$9.4m; CFO steps down to head new Phuket unit
Resort operator Banyan Tree Holdings sank further into the red with a net loss of S$9.4 million for its third quarter ended Sept 30, compared to a S$7 million loss a year ago. Its bottom line was weighed down by lower operating profit from the hotel investments and property sales segments, higher head office expenses, as well as higher depreciation of property, plant and equipment and right-of-use assets…
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Next step in Vancouver real estate crackdown – a single regulator
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