Singapore Real Estate
Buyers mop up more new homes in May amid surge in launches
The 29.5 per cent month-on-month rise in developers’ private home sales in May amid a flurry of nine new project launches – suggests that fears of a trade war do not seem to have dampened property market sentiment too much. “The concern going forward is the external environment and how it will affect sentiment,” said a seasoned property consultant.
E-commerce growth to drive Singapore logistics services sector: Colliers
The rapid growth in e-commerce demand for retail purchases represents an opportunity for the logistics services market to grow further in Singapore, said Colliers International in a report. The Glimpsing the Road Ahead: Reshaping the Logistics Market report, citing a study by the payments technology company WorldPay, said the e-commerce market in Singapore is tipped to expand 48 per cent to US$7.4 billion by 2022 at a compound annual growth rate of 7 per cent.
Beauty World Plaza in 2nd sale bid at unchanged S$165m price
Owners at the residential-and-retail complex Beauty World Plaza have launched another tender for a collective sale at a reserve price of S$165 million – unchanged from that of their previous attempt last November. The authorities have also provided for an in-principle approval for the redevelopment of the residential component into serviced apartments, said marketing agent Knight Frank on Monday.
2 GCBs at Bin Tong Park, King Albert Park up for sale
Two good class bungalows (GCBs) – one at 5 Bin Tong Park in District 10, and the other at 22A King Albert Park in District 21 – have been put up for sale via expression of interest (EOI), said sole marketing agent Edmund Tie & Company (ET&Co). The first bungalow – a colonial-style, single-storey unit at Bin Tong Park – is a freehold estate with a total land area of 2,611.4 square metres (28,109 square feet). It has a frontage…
Electronics exports hit 10-year low, heralding further pain ahead
Singapore’s electronics exports in May posted their sharpest contraction since 2009, dragged down by the US-China trade conflict, the fading of the semiconductor cycle and weakening external demand. Economists warn that electronics players should brace themselves for a long winter, as the ongoing US-China trade tension – the biggest wildcard – remains unresolved and the global appetite for chips wanes.
Frasers Centrepoint Trust completes preferential offering, updates slightly subscriptions
Frasers Centrepoint Trust (FCT) has completed its preferential offering. It received valid acceptances and excess applications of under 56.73 million for new units for its preferential offering, instead of over 56.74 million units at the close of the preferential offering on June 10, 2019, its manager said on Monday evening. This represents about 196.8 per cent of the total number of new units available under the preferential…
OUE subscribes for all shares of Indonesia investment holding firm for 11b rupiah
Property firm OUE has, through its subsidiaries, subscribed for all the shares of PT Deer Pine Indonesia, an investment holding company incorporated in Indonesia. Its subsidiary Tengara Holdings has subscribed for 99.91 per cent of Deer Pine’s shares for 10.99 billion rupiah (S$$1.1 million). The remaining 0.09 per cent was subscribed for by another subsidiary OUE Coral for 10 million rupiah.
Tee Land sells 15 out of 48 units at Lattice One preview weekend at around S$1,800 psf
Tee Land sold during its preview weekend 15 units out of 48 units at its condo Lattice One, at an average price of around S$1,800 per square foot (psf). That reflects a take-up rate of about 31 per cent. Units sold at the freehold development comprised two-bedroom, two-bedroom plus study and three-bedroom units with floor areas ranging from 50 square metres to 100 square metres…
ESR-Reit raises S$100m from upsized private placement at lower end of price range
ESR-Reit will issue about 194.2 million new units under its upsized private placement to raise gross proceeds of S$100 million, the manager of the mainboard-listed real estate investment trust (Reit) said in a bourse filing early Tuesday morning. The joint global coordinators and bookrunners for the placement, Citigroup Global Markets Singapore and RHB Securities Singapore, closed the order book for the…
ESR-Reit to buy warehouse, enhance 2 assets and raise funds
ESR-Reit opened the new week by unveiling a slew of initiatives: It will acquire a warehouse for S$225 million under a newly formed joint venture (JV) and undertake asset enhancement initiatives (AEIs) at two of its existing assets; it will also raise up to S$150 million in an equity fundraising to finance these transactions and to service existing debt.
Fortis Healthcare drops plan to sell stake in RHT Health Trust, trustee manager
India’s Fortis Healthcare has decided to close the bidding and search process to explore the possibility of sale of interest in Singapore-listed RHT Health Trust (RHT) and its trustee manager RHT Health Trust Manager (RHTTM). This was after no firm, commercially viable proposal was received and no binding or non-binding agreement was reached with Fortis Healthcare (Fortis) and its wholly-owned subsidiaries…
Views, Reviews, Forum & Others
Significant potential for Reits in Asia, an ’emerging’ asset class
We see significant potential for real estate investment trusts (Reits) across the Asia-Pacific region. Listings have already grown strongly over this decade, with the total number of listed Reits growing from 50 to 792, and the market capitalisation of the S&P Asia Pacific Ex-Japan index growing by 71 per cent. These growth rates are the more impressive knowing that some of the countries in the region currently…
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Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article