DAILY NEWS

Daily News – 15 Jan 2020

Singapore Real Estate

Asia-Pac real estate investment tipped to return 5.4% in 2020
Real estate investment in the Asia-Pacific continues to pay off with total returns of 5.4 per cent expected in 2020 amid accommodative macro policies and strong demand especially in the logistics and office sectors, said M&G Real Estate, a global property investor. The 2020 total return forecasts for logistics and offices are 8.8 per cent and 6.7 per cent respectively.
https://www.businesstimes.com.sg/real-estate/asia-pac-real-estate-investment-tipped-to-return-54-in-2020

Singapore condo resale volume shrinks 27.4% in 2019: SRX
The number of Singapore condominium units resold last year totalled just 9,017, sliding 27.4 per cent from 2018, according to real estate portal SRX Property’s latest report on the non-landed private residential resale market. As for December 2019, an estimated 650 units were resold during the month, dropping 15.4 per cent from the previous month but increasing 21.5 per cent year on year (y-o-y), according to SRX’s report.
https://www.businesstimes.com.sg/real-estate/singapore-condo-resale-volume-shrinks-274-in-2019-srx-0
https://www.straitstimes.com/business/property/condo-resale-prices-inch-up-in-2019-but-sales-plunge

Companies’ Brief

Mapletree Investments, MIT complete acquisition of 10 data centres
A joint venture (JV) between Mapletree Investments and Mapletree Industrial Trust (MIT) has completed the acquisition of 10 powered shell data centres in North America for some US$557.3 million. The deal with data centre provider Digital Realty was completed on Tuesday, MIT’s manager said in a regulatory filing on Wednesday morning.
https://www.businesstimes.com.sg/companies-markets/mapletree-investments-mit-complete-acquisition-of-10-data-centres

OUE pares stake in Gemdale Properties to 23.8%
OUE on Tuesday said it has pared its stake in associated company and Hong Kong-listed real estate developer Gemdale Properties and Investment Corporation from 27.8 per cent to 23.8 per cent, after selling about 635.5 million shares of par value HK$0.10 each at HK$0.91 apiece. The aggregate consideration of about HK$578 million (S$100.2 million) will be paid wholly in cash.
https://www.businesstimes.com.sg/companies-markets/oue-pares-stake-in-gemdale-properties-to-238

TEE Intl sinks deeper into the red in Q2 on TEE Land loss
TEE International saw its net loss widen to S$35.9 million for its second quarter ended Nov 30, 2019, from a loss of S$3.2 million a year ago. This mainly due to a S$13.8 million loss from a discontinued operation relating to its subsidiary TEE Land, the mainboard-listed engineering group said in a filing late on Tuesday night. TEE International on Monday proposed to sell its 63.2 per cent stake in TEE Land for S$50.6 million…
https://www.businesstimes.com.sg/companies-markets/tee-intl-sinks-deeper-into-the-red-in-q2-on-tee-land-loss

Views, Reviews, Forum & Others

Forum: Request for waiver of ABSD denied
Shortly after graduating, I joined the workforce and added my name to the ownership of my parents’ Housing Board flat to help in the payment of the mortgage. I have been married now for several years and still do not own a property because I would end up paying the additional buyer’s stamp duty (ABSD).
https://www.straitstimes.com/forum/request-for-waiver-of-absd-denied