The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 15 June 2022 (Wed)

Singapore Real Estate 

AEW’s S$675m Westgate Tower purchase adds to Singapore office deals momentum
The Singapore office investment sales market continues to gather momentum, notwithstanding headwinds from geopolitical uncertainty and rising interest rates. Investor interest seems to be extending beyond the central business district (CBD).

Dunman Road, Pine Grove Government Land Sales sites awarded to highest bidders
Singapore – The tenders for state-owned residential sites in Dunman Road and Pine Grove have been awarded to the highest bidders, the Urban Redevelopment Authority (URA) said on Tuesday (June 14).

Singapore households’ net worth grows as residential asset values climb
Market watchers expect the total value of private homes and Housing Board (HDB) flats held by households to keep rising, albeit more slowly than before, and in turn further bolster household net worth.

Weak market sentiments may spur more privatisation deals: industry players
The recent privatisation offer for Frasers Hospitality Trust (FHT) is the latest in a long string of offers that have taken place in the local market as weakened investor sentiment creates value for founders and private equity groups.

 Singapore Economy

Singapore climbs back to 3rd place from 5th in global competitiveness ranking
Singapore has climbed back up to become the world’s 3rd most competitive economy, after having slipped to 5th place in 2021 following 2 straight years at the top. In the 2022 Institute for Management Development (IMD) World Competitiveness Ranking, Denmark claimed the top spot for the first time, pushing Switzerland down to 2nd place.

Companies’ Brief

Far East Orchard to make 4th investment in student hostel in Bristol
Real estate company Far East Orchard has acquired a plot of land in Bristol through a joint venture (JV) with Woh Hup Holdings and Way Assets to develop a student hostel in the English city, the mainboard-listed company said in a bourse filing on Tuesday (Jun 14).

Brokers’ take: Phillip raises Pan-United target price on higher demand for concrete
Phillip Securities on Monday (Jun 13) raised Pan-United’s target price to S$0.68 from S$0.46 on higher demand for ready-mixed concrete (RMC) brought about by the recovery of the construction sector. It maintained a “buy” call on the counter.

Proposal for Frasers Property to take hospitality trust private may raise expectations for sponsors
Some investors will almost certainly gripe about not being offered a high enough price. And, there could be some hand-wringing about the local market losing good listings because of pitifully low valuations.

Global Economy & Global Real Estate

WHO set to decide if monkeypox represents health emergency

Moderna’s Covid-19 jab may pose higher heart inflammation risk than Pfizer’s shot: US CDC

US small-business sentiment dips in May: NFIB

US producer prices rise at a brisk pace, adding to Fed pressure

UK jobless rate edges up as people return to labour market

World’s wealthy flock to UAE as war spurs Russian capital flight

Australia global competitiveness rank climbs on commodity surge

Australia hikes minimum wage by 5.2% amid inflation pressures

China eases certain entry requirements for foreigners, a tiny step amid ‘zero-Covid’ policy

China puts monetary easing on hold with Fed set to hike rates

Keeping China fed as inflation surges brings risk for commodity prices

Hong Kong’s rate hikes to drive down costly housing prices

Famed Hong Kong floating restaurant towed away after half a century

South Korea jobless rate stays low in sign of economic resilience


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