DAILY NEWS

Daily News – 16th April 2019

Singapore Real Estate

New private home sales surge as developers rush to roll out projects
A wave of new launches after the Chinese New Year lull boosted developers’ sales in March, with 1,054 private homes having been sold. This was up from the 455 units moved in February and 47 per cent higher than in March last year. Altogether, 1,812 private homes were launched in March. Of that number, 170 were in the core central region (CCR), 576 in the rest of the central region (RCR) and 1,066, outside the central region (OCR).
https://www.businesstimes.com.sg/real-estate/new-private-home-sales-surge-as-developers-rush-to-roll-out-projects
https://www.straitstimes.com/business/property/private-home-sales-pick-up-on-back-of-new-launches
https://www.channelnewsasia.com/news/singapore/march-new-private-home-sales-ura-increase-11446446
https://www.todayonline.com/singapore/rebound-private-home-sales-not-sign-cooling-measures-wearing

2 Bartley projects to launch at around S$2,000 psf
Developer SingHaiyi Group expects to launch in about two weeks two freehold projects in Bartley at “plus or minus” S$2,000 per square foot (psf), deputy chief executive Gregory Sim said at a media preview on Monday. The preview for both will begin this weekend. SingHaiyi plans to release about 50 per cent of units for each project during the launch.
https://www.businesstimes.com.sg/real-estate/2-bartley-projects-to-launch-at-around-s2000-psf
https://www.straitstimes.com/business/property/singhaiyi-launching-two-freehold-condo-projects-in-bartley

No-sale licence issued to Normanton Park project
Kingsford Huray Development has been hit with a no-sale licence for its project at the former Normanton Park site, prohibiting it from selling units before the Temporary Occupation Permit (TOP) is obtained. In June, Kingsford Huray was granted approval for a 1,882-unit project on the site, comprising 1,863 apartments and 19 strata terrace houses.
https://www.businesstimes.com.sg/real-estate/no-sale-licence-issued-to-normanton-park-project

Singapore Economy

Resolving trade tensions key to getting growth on track: Heng Swee Keat
Trade tensions between the United States and China are dampening economic growth across the world, prompting a growing acceptance that they have to be resolved to put global growth back on track, said Finance Minister Heng Swee Keat yesterday. The International Monetary Fund (IMF) cut its growth forecast three times in the past six months…
https://www.straitstimes.com/world/united-states/resolving-trade-tensions-key-to-getting-growth-on-track-heng

Companies’ Brief

Keppel DC Reit’s Q1 DPU up 6.7%
Keppel DC Reit posted a distribution per unit (DPU) of 1.92 Singapore cents for the first quarter ended March 31, 2019, up 6.7 per cent from 1.8 cents a year ago. Distributable income grew 29.9 per cent to S$27.1 million, due to the enlarged asset base following the acquisitions of maincubes Data Centre in Offenbach am Main, Germany, and Keppel DC Singapore 5 in 2018.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reits-q1-dpu-up-67

KIT sinks into the red but maintains Q1 DPU at 0.93 cent
Keppel Infrastructure Trust (KIT) on Monday reported a flat total distribution per unit (DPU) of 0.93 Singapore cent for the first quarter of 2019. But it sank into the red with a net loss of S$16.2 million due to transaction cost in relation to the acquisition of Australian chemicals group Ixom.
https://www.businesstimes.com.sg/companies-markets/kit-sinks-into-the-red-but-maintains-q1-dpu-at-093-cent-0
https://www.straitstimes.com/business/companies-markets/keppel-infrastructure-led-consortium-snags-525m-jurong-island-pipelines

TEE International to spin off infrastructure business
Mainboard-listed engineering group TEE International on Monday said it plans to spin off its infrastructure arm and list it on the Singapore Exchange’s Catalist board. TEE International intends to maintain a controlling interest in the business thereafter. Its infrastructure business comprises a 50.1 per cent stake in Singapore-based G3 Environmental…
https://www.businesstimes.com.sg/companies-markets/tee-international-to-spin-off-infrastructure-business
https://www.straitstimes.com/business/companies-markets/tee-international-proposes-to-spin-off-and-list-infrastructure-business