Singapore Real Estate
Jurong Lake area housing estate transformation completed
Over the last nine years as the Jurong Lake area was being rejuvenated, small business owners started noticing an uptick in sales. This was because more residents were choosing to spend their time in the area on weekends instead of travelling to other estates, said Jurong Town Centre Merchant Association chairman Tan Kah Ann.
More jobs will be closer to Punggol’s smarter, greener homes: SM Teo
When it is ready in 2023, the Punggol Digital District will provide residents with more jobs that will be close to greener and smarter homes, while also offering greater convenience, said Senior Minister Teo Chee Hean on Friday. He was speaking at the ground-breaking ceremony for the 50ha district, which will house a business park that is being developed by national industrial estate developer JTC.
Singapore Art Museum to reopen 2 years later than planned
The Singapore Art Museum (SAM), currently closed for a $90 million revamp, will reopen in 2023 instead of 2021 as originally planned. Ms Chong Siak Ching, deputy chair of SAM’s executive committee of the board and head of the Visual Arts Cluster, said the delay was due to conservation issues: “As we went into the detailed investigation of the building, we discovered, as a very old heritage building that was last…
Old Bukit Timah fire station site ready for spruce-up
A relatively quiet plot in Bukit Timah, anchored by Spruce the restaurant, could be revived into a mini-Dempsey Hill. If some developers get their way, the site – home to the recently conserved 1956 Bukit Timah Fire Station – could house small boutiques and food establishments.
Sizing up the Singapore housing market
Exporters close the book on a sorry 2019
Singapore’s trade-dependent economy clocked its worst export showing since the global financial crisis, as non-oil domestic exports (NODX) fell by 9.2 per cent year on year in 2019. The decline, based on preliminary data put out by trade agency Enterprise Singapore on Friday, marks a far cry from the 4.2 per cent expansion that was notched in the year prior. It is also the poorest full-year performance since a 10.5…
Phase One prompts Asia growth forecast upgrade by Asean+3 unit
Macroeconomics surveillance organisation Asean+3 Macroeconomics Research Office (AMRO) has upgraded its growth forecast for Asia, just a month after its previous prediction, thanks to the signing of a Phase One trade deal between the United States and China following nearly two years of dispute. AMRO projects full-year growth for the Asean region, China, Japan and South Korea to hit 4.9 per cent in 2020…
MNACT posts 13.3% fall in Q3 DPU to 1.671 S cents
Mapletree North Asia Commercial Trust (MNACT) reported on Friday that its distribution per unit (DPU) for the third quarter fell 13.3 per cent to 1.671 Singapore cents, down from 1.927 cents a year ago. The Q3 DPU included a distribution top-up to mitigate the impact of Festival Walk’s closure on distributable income.
Temasek, Trustbridge target majority stake in WeWork China at US$1b valuation: sources
Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told Reuters. The plan values WeWork China at around US$1 billion, two of the people said. The proposal was submitted to WeWork’s major stakeholder, Japanese technology conglomerate…
Singapore hotel groups spared property damage in Australia
As thunderstorms in eastern Australia bring some much needed-relief to the bushfires, Singapore-based hospitality companies with a presence Down Under are taking stock of their businesses there. The impact, however, is expected to vary, with some reporting no damage to property, while others saw a fall in visitor numbers, they said in response to queries from The Business Times.
Dasin Retail Trust manager to name new CEO, extends loan facilities
The trustee-manager of Dasin Retail Trust will appoint Dasin Holdings executive Lily Wang as its new CEO from March, the Mainboard-listed firm announced in a Friday bourse filing. Ms Wang will replace current chief executive Li Wen, who is leaving to pursue other interests. She is presently the general manager of the risk management division of Zhongshan Dasin Holdings and the secretary to the board of directors of…
Sinjia Land completes disposal of unit to KH Investment Group
Sinjia Land on Friday said it has completed the disposal of its subsidiary HLN Rubber Products to KH Investment Group Limited. The disposal of Sinjia’s integrated mechanical components manufacturing businesses, consisting of HLN Rubber Products and three other subsidiaries forming the HLN Group, was announced in October 2017.
Elite Commercial Reit lodges preliminary prospectus
Elite Commercial Reit Management has lodged a preliminary prospectus to list a UK-focused Singapore Reit (real estate investment trust) on the Singapore Exchange mainboard. Elite Commercial Reit has an initial portfolio of 97 properties – all but one are freehold – across the UK and is set to be the first Reit denominated in British pound to be listed in Singapore.
EHT’s largest shareholder Frank Yuan pares stake to 10.69%
Frank Yuan, the single-largest shareholder of Eagle Hospitality Trust (EHT), has sold 20 million stapled securities of the Mainboard-listed counter at US$0.53 apiece via a married deal. This translates to a total consideration of US$10.6 million. In a Friday bourse filing, EHT disclosed that Mr Yuan had pared his stake from 13 per cent to 10.69 per cent on Jan 13. The US$0.53 sale price represents a slight discount to…
Global Economy & Global Real Estate
US homebuilder sentiment posts best two months since 1999
California landowners hit back over beach access
London luxury house sales rebound as buyers race to beat new tax
China faces big pressure in stabilising industrial output growth in 2020
China’s economy expands at slowest rate in nearly 30 years
China’s 2019 property investments solid, but first sales drop in 5 years dents outlook
China cities get creative in steadying cooling property markets
Chinese firm plans mass production of construction robots
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