Singapore Real Estate
Developers’ November sales jump but challenges lie ahead
New sales of private homes jumped last month to nearly two and a half times that of the previous month as developers revved up launches to make up for lost ground when some of them held back launches in October. That pause was partly to ruminate about the impact on sentiment after the authorities announced revised guidelines to increase the average unit size for non-landed private residential developments outside the Central Area from early next year. The change is expected to disrupt the popular business model of residential developers minting smallish units to drive up average per square foot prices in their projects, while keeping the absolute prices affordable.
Tee International ‘evaluating opportunities’ for Tee Land in strategic review
Tee International on Monday said that it is currently undertaking a strategic review in relation to its subsidiary, Tee Land, to “evaluate opportunities and positioning” to maximise potential value for stakeholders. Tee Land is a boutique property developer that has done residential, commercial and industrial property development projects in Singapore and Malaysia. It also invests in income-generating properties, including a hotel in Australia and short-term accommodation premises in New Zealand.
Noon Capital, Acre launch first project in Thailand
Noon Capital, a South-east Asia-based property developer and manager, on Monday announced a partnership with private real estate investment firm Asia Capital Real Estate (Acre). The two companies launched the first US$25 million project of a Thailand-focused real estate fund, which is targeted to grow up to US$150 million across at least six multi-family development projects.
Datapulse to acquire Seoul hotel for 35b won
Datapulse Technology has entered into definitive agreements with South Korean company Hotel Prima Co to acquire Hotel Aropa in Seoul for 35 billion won (S$42.7 million). In a Singapore Exchange filing late on Sunday night, Datapulse said that on Dec 14, it signed a conditional real property sale and purchase agreement to acquire the entire land and building for Hotel Aropa, as well as a conditional asset transfer agreement for the assets, licences, contracts and employees of the hotel.
VIEWS, REVIEWS, FORUM & Others
What matters most for global business in 2019?
International businesses in 2019 will mourn the demise of the post-war liberal consensus because it was demonstrably good – for them. Since the end of the Cold War, multinationals have massively increased their share of the global economy and now dominate global trade – around two-thirds of it, according to the United Nations – through global supply chains.
Floating the idea of cities and economic zones at sea
Urbanisation is often thought of as a land-based process. Increasingly, however, humans are venturing to the oceans, not just for travel and transport – but for settlement. This is not as new as one might imagine. Maritime peoples through the ages have made a living from the sea, and settled not just in coastal areas but also on water. South-east Asia’s floating villages, from Indochina to the Malay peninsula, are examples.
Global Economy & Global Real Estate
Fed rate hikes are extremely rare when stocks are this beat up
Financial cycle dip could tip economies into recession: BIS
UK housebuilders are another ‘brexit football’ for the market
Want to buy a London home? Brexit isn’t the only thing to watch
China advisers urge trimming 2019 growth target amid trade war
China’s US$20b new Egypt capital project talks fall through
Japan’s central bank to warn of rising growth risks, policy seen steady
Edcon Hldgs seeks funding to stave off liquidation
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article