DAILY NEWS

Daily News – 14 December 2021 (Tue)

Singapore Real Estate

Singapore condo resale prices continue to rise in Nov; volumes recover: SRX, 99.co
Singapore condominium resale volumes recovered in November, after falling in October and September, while prices continued to rise for the 16th straight month. Meanwhile, the overall median capital gain stood at S$225,000 in November, up S$4,040 from October, flash figures from 99.co and SRX Property released on Tuesday (Dec 14) showed.
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-prices-continue-to-rise-in-nov-volumes-recover-srx-99co

Sales of new private homes gain steam in November
Sales of new private homes rebounded in November as developers moved 1,546 units, up 70 per cent month on month and about double the number of homes sold in the corresponding month a year ago. The figures are analyst estimates based on caveats lodged and exclude executive condominiums (ECs).
https://www.businesstimes.com.sg/real-estate/sales-of-new-private-homes-gain-steam-in-november

Tanglin Shopping Centre makes 4th collective sale attempt at S$828m
Tanglin Shopping Centre is making a fourth try for a collective sale with a guide price of S$828 million, marketing agent Savills announced on Monday (Dec 13). This works out to S$2,642 per square foot per plot ratio (psf ppr) based on the gross floor area of 313,435 sq ft. The tender closes on Feb 22, 2022 at 3pm.
https://www.businesstimes.com.sg/real-estate/tanglin-shopping-centre-makes-4th-collective-sale-attempt-at-s828m
https://www.straitstimes.com/business/property/tanglin-shopping-centre-makes-fourth-en-bloc-bid-at-828-million

Sultan Plaza, City Plaza join ranks of en bloc hopefuls
As more ageing properties in Singapore are trying again to go en bloc, the Sultan Plaza commercial building and the City Plaza mall may be next in line. If their collective sale tenders are launched, the reserve prices could be slashed to S$360 million for Sultan Plaza in the Beach Road area and S$850 million for City Plaza in Paya Lebar, Lianhe Zaobao reported on Monday (Dec 13).
https://www.businesstimes.com.sg/real-estate/sultan-plaza-city-plaza-join-ranks-of-en-bloc-hopefuls
https://www.straitstimes.com/business/property/sultan-plaza-city-plaza-join-ranks-of-en-bloc-hopefuls

Baode Building launched again for collective sale at S$27m indicative price
Baode Building has been put up for collective sale again with an indicative price of S$27 million, said exclusive marketing agent Colliers on Monday (Dec 13). The last collective sale attempt by the freehold 8-storey residential building was in July 2021, at the same indicative price of S$27 million.
https://www.businesstimes.com.sg/real-estate/baode-building-launched-again-for-collective-sale-at-s27m-indicative-price

Despite onerous restrictions, buying a PLH flat can pay off
Buying a Build-To-Order (BTO) flat from the Housing Development Board (HDB) is often a no-brainer for young couples starting on their home-ownership journey. In the November BTO exercise, 4-room flats at Hougang Olive were priced at S$308,000-S$377,000.
https://www.businesstimes.com.sg/real-estate/despite-onerous-restrictions-buying-a-plh-flat-can-pay-off

Companies’ Brief

CapitaLand Development to acquire residential site in Binh Duong for S$1.1b
Real estate developer CapitaLand Development (CLD) – the development arm of CapitaLand Group – will acquire a prime site in Binh Duong New City, Vietnam for a projected total gross development value of about S$1.1 billion.
https://www.businesstimes.com.sg/real-estate/capitaland-development-to-acquire-residential-site-in-binh-duong-for-s11b

CDL unit to sell 5-star hotel Millennium Hilton Seoul, adjoining land for S$1.26b
City Developments Limited (CDL) announced on Monday (Dec 13) plans to sell Millennium Hilton Seoul, a 5-star 22-storey hotel situated near Seoul’s downtown business district, and its adjoining land plot for 1.1 trillion won (S$1.26 billion).
https://www.businesstimes.com.sg/companies-markets/cdl-unit-to-sell-5-star-hotel-millennium-hilton-seoul-adjoining-land-for-s126b
https://www.businesstimes.com.sg/stocks/hot-stock-cdl-up-as-much-as-27-on-millennium-hilton-seoul-divestment
https://www.straitstimes.com/business/companies-markets/cdl-to-sell-5-star-hotel-millennium-hilton-seoul-adjoining-land-for-126b

With troubles behind it, CDL can enter 2022 with a spring in its step
The Covid-19 pandemic hit hotels hard. While property giant City Developments Limited’s (CDL) property development and investment properties segments were profitable in the first half of 2021, its hotel operations posted a loss of S$143 million.
https://www.businesstimes.com.sg/companies-markets/with-troubles-behind-it-cdl-can-enter-2022-with-a-spring-in-its-step

Keppel Corp in consortium to acquire majority stake in solar platform for up to US$150m
A consortium of Keppel Corporation, Keppel Asia Infrastructure Fund LP (KAIF) and a co-investor of KAIF, through Cloud Alpha, is acquiring a 51 per cent equity interest in Cleantech Renewable Assets for up to US$150 million.
https://www.businesstimes.com.sg/companies-markets/keppel-corp-in-consortium-to-acquire-majority-stake-in-solar-platform-for-up-to-0

Views, Reviews, Forum & Others

The inflation suspense goes on
Friday’s (Dec 10) consumer price report came as a huge surprise to almost everyone – because the numbers came in almost exactly in line with expectations, which basically never happens. Analysts whose job is to forecast what official numbers will say a few hours before they come out…
https://www.businesstimes.com.sg/opinion/the-inflation-suspense-goes-on

After sky-high prices, Singapore’s power sector is due for some adjustments in 2022
A manic year for Singapore’s electricity sector – rattled by gas curbs and skyrocketing spot prices, and exacerbated by a global energy crisis – has turned into a wake-up call for the energy regulator. Singapore’s Energy Market Authority (EMA) is mulling tweaks to market rules, which could result in some semblance of price normalcy in the wholesale market in the event of a gas shortfall.
https://www.businesstimes.com.sg/energy-commodities/after-sky-high-prices-singapores-power-sector-is-due-for-some-adjustments-in-2022

Update on COVID-19 (Coronavirus Disease 2019) Situation

S’pore confident it can cope with Omicron Covid-19 variant, boosters key part of strategy: PM Lee
Singapore – While Singapore is not yet out of the woods, it is confident that it can cope with the Omicron variant, said Prime Minister Lee Hsien Loong on Monday (Dec 13). This is because with vaccinations and boosters, Singapore is in a much stronger position today to deal with Covid-19, he added.
https://www.straitstimes.com/singapore/spore-confident-it-can-cope-with-omicron-covid-19-variant-boosters-key-part-of-strategy-pm

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation