DAILY NEWS

Daily News – 16th, 17th and 18th February 2019

Singapore Real Estate

Big project launches expected to drive home sales from March
Property consultants are expecting the pace of developers’ private housing sales volumes to quicken from March as they start rolling out big projects in the suburbs. “Buyers will be spoilt for choice this year; attractively priced developments should perform well,” said ERA Realty Network key executive officer Eugene Lim. By some industry estimates, more than 40 projects totalling some 18,000 private housing units could be launch-ready in 2019, although some of the launches could flow into next year
https://www.businesstimes.com.sg/real-estate/big-project-launches-expected-to-drive-home-sales-from-march

Greater clarity expected for HIP and VERS
Cushman & Wakefield’s senior director of research, Christine Li, reckons that the government may tweak policies to boost the liquidity of older flats so that owners who need to may unlock the asset more easily. “If the liquidity of older flats is boosted after the Budget announcement, you will see a mild recovery of HDB housing prices – and that is a boon for the private market,” she said. “The private and HDB price gap has increased in recent years, and the stabilisation of the HDB market is generally welcomed by locals, who will find it easier to upgrade to private homes once the gap narrows.”
https://www.businesstimes.com.sg/government-economy/singapore-budget-2019/greater-clarity-expected-for-hip-and-vers

Six adjoining strata offices at International Plaza for sale with S$11.97m guide price
A batch of six adjoining and refurbished strata offices at International Plaza in Tanjong Pagar are up for sale with a guide price of S$11.97 million. They are available on a sale-and-leaseback basis, with immediate annual gross rental yield of 4.2 per cent for at least five years, said marketing agent Colliers International in a statement on Friday.
https://www.businesstimes.com.sg/real-estate/six-adjoining-strata-offices-at-international-plaza-for-sale-with-s1197m-guide-price-0
https://www.straitstimes.com/business/property/6-strata-offices-for-sale-at-international-plaza

Oasis Terraces mall opens in Punggol
Oasis Terraces, a seven-storey mall built along the waterfront in Punggol, is integrated with transportation nodes and also boasts a 24-hour fitness centre and a supermarket which opens till 11pm. Residents had a say in what they wanted included in the early planning stages of the Housing and Development Board (HDB) development in 2014.
https://www.businesstimes.com.sg/real-estate/oasis-terraces-mall-opens-in-punggol
https://www.straitstimes.com/singapore/hdb-launches-first-of-its-new-neighbourhood-centres

The tech effect in the real estate market in Singapore
I’ve been working in Singapore’s commercial real estate market for more than two decades, and while the cityscape has changed over the years, one thing remains consistent: Singapore’s constant innovation and reinvention. As the hub for transport and trade in the region, its pro-business environment and infrastructure continues to attract international business relocations – and increasingly, tech firms.
https://www.businesstimes.com.sg/real-estate/the-tech-effect-in-the-real-estate-market-in-singapore

Singapore Economy

MTI: 2019 growth could slow to below mid-point of forecast range
The Singapore economy slowed last year – and will likely only cool further, according to the latest news from the Ministry of Trade and Industry (MTI). With an economic slowdown expected to drag on, all eyes will be on relief measures in next Monday’s Budget, and the Monetary Authority of Singapore (MAS) policy meeting in April is also keenly awaited. Gross domestic product (GDP) was up by 3.2 per cent to S$487.1 billion, after notching revised growth of 3.9 per cent in 2017, the MTI has said. But the ministry also warned that growth this year could be “slightly below the mid-point” in its forecast range of 1.5 per cent to 3.5 per cent.
https://www.businesstimes.com.sg/government-economy/mti-2019-growth-could-slow-to-below-mid-point-of-forecast-range
https://www.straitstimes.com/business/economy/slowdown-in-final-quarter-of-2018-may-set-tone-for-this-year

Companies’ Brief

Cromwell E-Reit buys French logistics property for 6.9m euros
Cromwell European Reit (E-Reit) has acquired a logistics property located in France for 6.9 million euros (S$10.58 million) and three office assets in Poland for 69.38 million euros. The acquisitions are part of the Reit’s (real estate investment trust) larger acquisition of 23 properties across five countries in Europe for 384.4 million euros, announced last October.
https://www.businesstimes.com.sg/real-estate/cromwell-e-reit-buys-french-logistics-property-for-69m-euros

Global Premium Hotels puts 23 hotels on market at S$1.4b
A portfolio of 23 hotels, mostly under the Fragrance brand, is up for sale by Global Premium Hotels (GPH) at an indicative price of S$1.4 billion. They have been on the market since the second half of last year. Although there have been no takers so far it is not for the lack of interest, said GPH chairman James Koh.
https://www.businesstimes.com.sg/companies-markets/global-premium-hotels-puts-23-hotels-on-market-at-s14b

Reclaims Global builds on home advantage
Construction service provider Reclaims Global, formerly known as Reclaims Enterprise, may operate only in Singapore for now, but the name change ahead of its listing on the local bourse’s Catalist board this year hints at bigger ambitions for the homegrown company.
https://www.businesstimes.com.sg/companies-markets/reclaims-global-builds-on-home-advantage

Cisco invests S$25m in cybersecurity centre and first S-E Asian co-innovation hub in S’pore
Cisco on Friday launched its first South-east Asian co-innovation centre in Singapore, focused on cybersecurity and the Internet of Things, alongside a new cybersecurity centre of excellence here. The US-based tech firm has invested S$25 million in both centres, its chief of operations Irving Tan told The Business Times. The move was supported by Singapore’s Economic Development Board (EDB).
https://www.businesstimes.com.sg/real-estate/cisco-invests-s25m-in-cybersecurity-centre-and-first-s-e-asian-co-innovation-hub-in

Views, Reviews, Forum & Others

Singaporeans loving the luxury homes foreigners can’t buy
Some of Singapore’s most desirable houses come with a catch: only locals can own them. That foreign buyers – notably from China – who for years helped drive demand for luxury homes, can’t buy these dwellings, hasn’t dented their appeal. Their scarcity and the exclusivity they confer have pushed prices of the homes – known as Good Class Bungalows, or GCBs – to record highs, even as the broader property market cools.
https://www.businesstimes.com.sg/real-estate/singaporeans-loving-the-luxury-homes-foreigners-cant-buy
https://www.straitstimes.com/business/property/singaporeans-loving-the-luxury-homes-foreigners-cant-buy