DAILY NEWS

Daily News – 18th July 2019

Singapore Real Estate

Stratech’s Chew family is owner of Belmont GCB put up for auction
The husband-and-wife team of David Chew and Leong Sook Ching that used to control mainboard-listed The Stratech Group, now in liquidation, are the registered owners of the Belmont Road bungalow that was put up for auction earlier this week. Deutsche Bank is the mortgagee for the freehold property, which is in the Belmont Park Good Class Bungalow (GCB) Area.
https://www.businesstimes.com.sg/real-estate/stratechs-chew-family-is-owner-of-belmont-gcb-put-up-for-auction

Row of six freehold shophouses in Joo Chiat up for sale via public tender
A row of six adjoining three-storey shophouses along Joo Chiat Road has been put for sale via public tender, real estate services firm CBRE said on Wednesday. To be sold as a bundle, the conservation shophouses are located at 454, 456, 458, 460, 462, and 464 Joo Chiat Road. They sit on a freehold site of about 7,400 square feet (sq ft) and the total existing built-up area is around 13,000 sq ft.
https://www.businesstimes.com.sg/real-estate/row-of-six-freehold-shophouses-in-joo-chiat-up-for-sale-via-public-tender
https://www.straitstimes.com/business/property/row-of-six-joo-chiat-shophouses-up-for-sale-0

Singapore ‘Fort Knox’ said to be up for sale as Swiss owner fights Russian tycoon
[Singapore] Asia’s “Fort Knox,” a private, maximum-security vault in Singapore, is for sale. Le Freeport, a multistory repository for fine art, precious gems and even JPMorgan Chase & Co’s stash of gold, has been seeking a buyer since as far back as 2017, so far without success, according to people familiar with the matter. Owner Yves Bouvier, a Swiss art dealer, has been embroiled in a five-year legal brawl with a Russian billionaire and has been selling assets.
https://www.businesstimes.com.sg/real-estate/singapore-fort-knox-said-to-be-up-for-sale-as-swiss-owner-fights-russian-tycoon

Companies’ Brief

CCT’s S$220m private placement at S$2.095 per unit 5 times subscribed
CapitaLand Commercial Trust (CCT) has fixed the issue price of its S$220 million private placement at S$2.095 per new unit, with the placement being five times subscribed, it said on Thursday morning. The private placement, which CCT’s manager says drew “strong demand” from new and existing institutional, accredited and other investors, will see 105.0 million new units being issued.
https://www.businesstimes.com.sg/companies-markets/ccts-s220m-private-placement-at-s2095-per-unit-5-times-subscribed
https://www.straitstimes.com/business/companies-markets/ccts-220m-private-placement-at-2095-per-unit-is-5-times-subscribed

CCT to lease out entire 21 Collyer Quay office tower to WeWork after HSBC moves out
[Singapore] CapitaLand Commercial Trust (CCT) will lease out 21 Collyer Quay, a 21-storey building in Singapore’s financial district currently occupied by HSBC, to US co-working giant WeWork. The move marks WeWork’s expansion in Asia. The tower will be WeWork’s biggest property in Singapore and has a net lettable area of about 200,000 square feet.
https://www.businesstimes.com.sg/companies-markets/cct-to-lease-out-entire-21-collyer-quay-office-tower-to-wework-after-hsbc-moves
https://www.straitstimes.com/business/property/wework-leasing-21-storey-tower-in-cbd
https://www.straitstimes.com/business/property/row-of-six-joo-chiat-shophouses-up-for-sale-0

Views, Reviews, Forum & Others

Making the case for ‘dumb’ cities in the age of smart tech
Like a classroom full of overachieving students, cities around the world are racing to declare themselves “smart” – using sensors, data and ubiquitous cameras to make themselves more efficient, safe and sustainable. Perhaps the most famous initiative is here in Toronto, where Sidewalk Labs, a sibling company to Google, recently released a 1,500-page masterplan to remake two neighbourhoods with…
https://www.businesstimes.com.sg/opinion/making-the-case-for-dumb-cities-in-the-age-of-smart-tech