The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19 Dec 2019

Singapore Economy

Singapore malls evolve to stay relevant despite online shopping threat
Despite the threat from online shopping, it is not all gloom at Singapore’s retail scene with some landlords continuing to invest and upgrade malls.  That is because online shopping – while growing – remains low at just 6.1 per cent of overall retail sales, going by October’s retail sales data released by the Department of Statistics. And the more savvy landlords have adjusted quickly to the disruptive environment caused by…


Companies’ Brief

Frasers Property buys more shares in Frasers Property Thailand
Singapore-listed Frasers Property Limited (FPL) continues to raise its stake in Frasers Property Thailand (FPT), which is listed in Thailand.  On Wednesday, FPL picked up 620,400 shares of FPT on the open market at an average price of 15.04 Thai baht (S$0.67) through wholly-owned subsidiary Frasers Property Holdings (Thailand).

Ascott on track to achieve global target of 160,000 units by 2023: CEO
The Ascott – the lodging business unit of CapitaLand – aims to open about 10,000 units in 2020, with the company “on track” to achieve its global target of 160,000 units by 2023, said Ascott chief executive officer Kevin Goh on Wednesday.  In 2019, Ascott achieved a record opening of about 7,500 units in more than 40 properties across 30 cities and 13 countries.

Oxley JV company appoints developer for Negeri Selangor land
Oxley’s joint-venture company, Peninsular Teamwork, has granted developer Grand Place Development the rights to develop the freehold vacant land of 6.1588 hectares held by Peninsular Teamwork under GM 269, Lot 347, Mukim Ulu Kelang, Tempat 6¾ Mile Ulu Kelang, Daerah Gombak, Negeri Selangor, Malaysia, into a residential housing development.  The landowner, Peninsular Teamwork…

PropertyGuru CEO vows comeback after IPO flop
[Singapore] In late October, PropertyGuru’s board huddled with investment bankers from Credit Suisse Group AG, UBS Group AG and others to discuss the Singapore startup’s impending initial public offering.  Talks with potential investors had coincided with a slump in Australian tech stocks; people were starting to question its targeted valuation of A$1.36 billion (S$1.26 billion).

Phase 2 launch of Hangzhou’s Yanlord Riverside Gardens fully sold
Yanlord Land Group has sold out all 149 apartment units put on sale at the Phase 2 launch of the Yanlord Riverside Gardens in Hangzhou over the weekend, it said on Wednesday.  Total contracted pre-sales derived from this launch amounted to about 2.09 billion yuan (S$405 million). The average selling price of the units was 70,697 yuan per square metre (sq m) for a total gross floor area (GFA) of 29,625 sq m.

M&G Real Estate adds 12 properties to Japan portfolio
M&G Real Estate – the real estate fund management arm of M&G Investments – has acquired a residential portfolio of 12 properties in Japan, it announced in a news release on Wednesday. It did not state what the deal was worth.  This is its second residential portfolio acquisition in Japan this year, after it bought three properties in Kobe and Nagoya for a total of US$57 million in October. The latest portfolio – comprising…

UOI to buy 146 Robinson Road from UOB for S$52 million
United Overseas Insurance (UOI) plans to buy the office property located at 146 Robinson Road, also known as Overseas Union Trust Building, from United Overseas Bank (UOB) for S$52 million, it said on Wednesday.  The property will be UOI’s first real estate investment and it intends to move its own operations into the premises.


Views, Reviews, Forum & Others

Who will be next to merge in the S-Reit universe?
Industry watchers generally agree that consolidation in the S-Reit sector will continue in 2020, but who will be next?  Of The Business Times’ four Reit merger predictions in April 2019 in this column, one has come to pass – that between Ascott Reit and Ascendas Hospitality Trust, while another was half-correct. We predicted Frasers Commercial Trust (FCOT) would merge with Frasers Centrepoint Trust, but it is currently…

Forum: ABSD the right tool to control property prices
I do not agree with City Developments’ Sherman Kwek when he says the additional buyer’s stamp duty (ABSD) policy for developers is responsible for rising housing prices (Tweaking ABSD timeline and pro-rating penalties can help contain rising housing prices, Dec 17).  He says developers prefer to sell at a lower price to have a comfortable sell-out.


Global Economy & Global Real Estate

WeWork gets US$1.75b credit line from Goldman Sachs

Oklahoma uni sued over struggling luxury dorm project

UK inflation holds below BOE target before rates meeting

Tencent-backed Beike mulls US$1b IPO

Japan raises economic growth forecast for next fiscal year

New Zealand economic growth accelerated in Q3

Thailand holds key rate, cuts economic forecasts as exports stumble

German business morale hits six-month high: survey


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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