DAILY NEWS

Daily News – 16 Jan 2020

Singapore Real Estate

2019 new home sales top 10,000 units, up 15% from year ago
Private home sales in 2019 rose 15 per cent to 10,104 units – signalling a resilient housing market as unemployment remained low, despite an expectedly slow month in December. Housing demand was robust across the board, with six of the top 10 selling projects located in the outside central region (OCR) as HDB upgraders continued to snap up private homes, noted Lee Sze Teck, Huttons Asia director research.
https://www.businesstimes.com.sg/real-estate/2019-new-home-sales-top-10000-units-up-15-from-year-ago
https://www.straitstimes.com/business/property/new-private-home-sales-up-almost-15-thanks-to-hdb-upgraders
https://www.channelnewsasia.com/news/business/new-private-home-sales-ura-december-12264654

Rents for private non-landed homes and HDB flats rise in Dec 2019 from a year ago
Rents for both non-landed private homes and Housing Board flats rose in December last year from the year before, even as the number of rented condominium and private apartment units, and HDB homes, rose for the whole of 2019. Flash data from real estate portal SRX Property on Wednesday showed that overall condominium and private apartment rents rose 3.7 per cent in December 2019 from a year ago, although rents last month decreased 0.9 per cent from November.
https://www.businesstimes.com.sg/real-estate/rents-for-private-non-landed-homes-and-hdb-flats-rise-in-dec-2019-from-a-year-ago
https://www.straitstimes.com/singapore/housing-rents-inch-up-last-year-but-still-far-from-2013-peaks

Property veteran sees investment sales market staying healthy in 2020
The investment sales market is expected to remain healthy this year, with residential land sales activities having picked up from last year, said the founder of a real estate investment sales firm. Property veteran Karamjit Singh, who set up boutique property-technology firm Showsuite Consultancy this year after having left his role as senior consultant at JLL Property Consultants at the end of last year, also projects a gradual increase in land values by five per cent.
https://www.businesstimes.com.sg/real-estate/property-veteran-sees-investment-sales-market-staying-healthy-in-2020

Proposed dementia village at Gibraltar Crescent, Sembawang, draws one bid
The proposed new concept dementia village occupying 10 bungalows at Gibraltar Crescent in Sembawang has attracted only one bid. It was submitted jointly by Pre 11 Pte Ltd and Orpea Singapore Pte Ltd. Pre 11 appears to be a newly-incorporated subsidiary of Perennial Real Estate Holdings, which describes itself as an integrated real estate and healthcare company.
https://www.businesstimes.com.sg/real-estate/proposed-dementia-village-at-gibraltar-crescent-sembawang-draws-one-bid

6 Chinatown shophouses up for sale with S$141m guide price
A portfolio of six conservation shophouses in Chinatown have been launched for sale via an expression of interest exercise, with a guide price of S$141 million. Four of them are adjoining shophouses located at 42, 43, 44, 45 Mosque Street, while the other two adjoining shophouses are at 54, 56 Pagoda Street, exclusive marketing agent Savills Singapore said on Wednesday.
https://www.businesstimes.com.sg/real-estate/6-chinatown-shophouses-up-for-sale-with-s141m-guide-price
https://www.straitstimes.com/business/property/6-chinatown-shophouses-up-for-sale-with-141m-guide-price

Companies’ Brief

City Developments to issue S$200m of 5-year senior notes
City Developments Limited (CDL) will sell new S$200 million senior notes at par, under its S$5 billion medium-term note programme. The five-year notes will carry a coupon of 2.7 per cent per annum, the deal’s sole bookrunner DBS Bank said on Wednesday.
https://www.businesstimes.com.sg/companies-markets/city-developments-to-issue-s200m-of-5-year-senior-notes

CapitaLand wins tender to manage Bugis Village and Bugis Street
Real estate behemoth CapitaLand has won the tender to manage Bugis Village and Bugis Street for up to a decade, it said in a bourse filing on Thursday. It will take over the integrated management of the area on April 1, 2020 with an initial three-year tenancy, which may be renewed for two further terms of three years each and a final tenancy term not extending beyond March 30, 2030.
https://www.businesstimes.com.sg/companies-markets/capitaland-wins-tender-to-manage-bugis-village-and-bugis-street
https://www.straitstimes.com/business/companies-markets/capitaland-to-manage-bugis-village-and-bugis-street-plans-new-retail

Frasers Commercial Trust posts flat Q1 DPU of 2.4 Singapore cents
Mainboard-listed Frasers Commercial Trust (FCOT) declared a distribution per unit (DPU) of 2.4 Singapore cents for the first quarter ended December, unchanged from a year ago. Gross revenue rose 19.8 per cent year-on-year to S$37.8 million, while net property income (NPI) grew 26.5 per cent to S$26.7 million, boosted by higher rental income for China Square Central, Alexandra Technopark, Central Park and 357 Collins Street, as well as lower utilities expenses for Alexandra Technopark.
https://www.businesstimes.com.sg/companies-markets/frasers-commercial-trust-posts-flat-q1-dpu-of-24-singapore-cents

SPH to issue S$500m 3.2% notes due 2030
Singapore Press Holdings (SPH) will be issuing S$500 million notes at par, under its S$1 billion multi-currency debt issuance programme. The 10-year notes will carry a coupon of 3.2 per cent per annum, the mainboard-listed group said on Wednesday evening.
https://www.businesstimes.com.sg/companies-markets/sph-to-issue-s500m-32-notes-due-2030
https://www.straitstimes.com/business/companies-markets/sph-to-issue-500m-in-32-notes-due-2030

Swee Hong proposes S$4m placement as part of restructuring
Distressed construction firm Swee Hong has entered an agreement to raise S$4 million in gross proceeds via a private placement to CIIC Group, a company solely owned by Swee Hong’s executive director Tian Yuan. Proceeds from the placement will partly fund a scheme of arrangement Swee Hong plans to propose to creditors. The company had S$26.5 million in debt, against cash of S$331,000, on its books as at end-September.
https://www.businesstimes.com.sg/companies-markets/swee-hong-proposes-s4m-placement-as-part-of-restructuring