The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19th July 2019

Singapore Real Estate

Beauty World Plaza’s second en bloc try ends with no takers
Beauty World Plaza’s second en bloc attempt at an unchanged reserve price of S$165 million failed to draw any takers.  Its collective sale tender, launched on June 17, closed on Wednesday without a single bid. The first launch was in late November last year.


Companies’ Brief

Keppel Q2 profit drops 38.4% in absence of project en bloc sales
Keppel Corporation posted a 38.4 per cent drop in net profit to S$153.4 million for the second quarter ended June 30, largely due to the absence of gains from en bloc sales of development projects.  The conglomerate recorded a restated net profit of S$249 million for same period last year, according to the financial results released on Thursday.

Australia’s LendLease bags Google project worth US$15b
Australia’s LendLease Group on Thursday said it secured a contract with Alphabet’s Google to develop US$15 billion worth of residential and retail space in Silicon Valley, sending the builder’s stock to a more than eight-month high.  The deal is a significant boon for LendLease, coming at a time when Australian developers navigate the domestic property market’s worst downturn in a generation…

Cromwell E-Reit completes 80.3m euro purchase of 3 French office properties
Cromwell European Real Estate Investment Trust (Cromwell E-Reit) has completed the acquisition of three freehold office properties in Greater Paris, which cost some 80.3 million euros (S$122.7 million) in total, its manager said in a filing on Thursday.  This was through the direct acquisition of the Lenine asset and the acquisition of all the shares of two companies that hold the Paryseine asset and the Cap…

Sabana Reit’s Changi South former tenant to pay S$2.99m in lease settlement
The former tenant of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust’s (Sabana Reit) 10 Changi South Street 2 property is paying a total sum of S$2.99 million as a full and final settlement following a lease termination.  This will see the former tenant Adviva Distribution paying the full amount to Sabana Reit’s trustee HSBC Institutional Trust Services (Singapore), the Reit said on Thursday night in a regulatory update.

Aims Apac Reit secures master tenant for Tuas property
Aims Apac Reit (AA Reit) announced on Thursday it has secured a master tenant for its property at 3 Tuas Avenue 2.  A global medical device company, headquartered in the United States, will occupy the entire premises of approximately 268,000 square feet, said AA Reit’s manager Aims Apac Reit Management in a regulatory filing.

Prime US Reit units 1.2 times subscribed ahead of listing on Friday
The manager of Prime US Reit, KBS US Prime Property Management, has received applications for 1.2 times the number of units originally on offer, it said ahead of the Reit’s trading debut on the Singapore Exchange (SGX) mainboard at 2pm on Friday.  The Reit received applications for 393.4 million units from international investors outside the US and Singapore retail investors, 1.2 times the 335.2 million units offered.


Global Economy & Global Real Estate

Sunny outlook for US economy despite shade thrown by trade

Japan inflation hits 2-year low as BOJ faces pressure to act

Australia jobless rate stuck at 5.2%, signals more work for its central bank

Indonesia pledges more rate cuts as it moves to spur growth


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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