The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 20 April 2022 (Wed)

Singapore Real Estate

Freehold Oxley Garden apartments up for en bloc sale, asking at least S$200m
Oxley Garden, sitting on a 58,207 square feet (sq ft) freehold plot in prime District 9, will soon be put up for collective sale on the heels of the sale of 5 Oxley Rise, a much bigger parcel up the road. Built in 1986, the 4-storey Oxley Garden is being marketed with a minimum price of S$200 million.

Rare freehold landed site in Orchard area expected to draw offers of over S$300m
An elevated freehold residential landed site at 5 Oxley Rise in District 9 with an enormous size of 151,205 square feet (sq ft) has been put up for sale by public tender, with offers in excess of S$300 million expected.

Price cuts at Perfect Ten condo nettle at least one early buyer
Price cuts are ongoing at the recently-launched luxury condominium Perfect Ten in prime District 10, with some discounts exceeding the 5 per cent offered just last December. This has raised some eyebrows among industry watchers, given the timing and quantum of certain discounts.

When ‘one-time’ condo discounts are anything but, do buyers have any recourse?
Promotions for early-bird buyers and subsequent “star buy” units at Perfect Ten are again drawing attention to the grey area of how property developers price – and discount – their private residential projects.


Singapore Economy

Singapore and New Zealand to collaborate on climate change, green economy: PM Lee, Ardern
New Zealand and Singapore will be working more closely on the green economy and the fight against climate change, Prime Minister (PM) Lee Hsien Loong announced on Tuesday (Apr 19). Speaking at a joint press conference with New Zealand Prime Minister Jacinda Ardern at the Istana, PM Lee said both countries share similar perspectives on climate change, which is the existential challenge of these times.

How China’s lockdowns have hit businesses in Singapore
Singapore – Lockdowns to contain a fresh Covid-19 outbreak in several cities in China have resulted in closures of important factories and a shipping and logistics gridlock at the port of Shanghai. This has delayed the delivery of a string of goods to Singapore, disrupting businesses and inconveniencing consumers at a time when it is opening up after two years of pandemic restrictions.


Companies’ Brief

LHN Logistics prices its IPO for placement at S$0.20 each to raise S$5m
LHN Logistics lodged its final offer document on Tuesday (Apr 19) as its parent company, property player LHN Group, looks to spin off and list its logistics arm. Through the initial public offering (IPO), LHN Logistics will raise approximately S$5 million through the listing of 25,238,000 placement shares at S$0.20 each.

Keppel DC Reit posts 0.2% increase in Q1 DPU
Data centre-focused Keppel Data Centre (DC) Reit reported on Tuesday (Apr 19) a marginal increase in first-quarter distribution per unit (DPU) of 0.2 per cent to S$0.02466, up from S$0.02462 a year earlier.

KORE reports 11% increase in Q1 distributable income
Office-focused Keppel Pacific Oak US Reit (KORE) said its first-quarter distributable income rose 10.9 per cent to US$16.6 million, up from US$14.9 million in the same period the year before.


Views, Reviews, Forum and Others

Growth, inclusion and sustainability in a post-pandemic world
Let me focus my remarks on the prospects for growth, inclusion, and sustainability in a post-pandemic world. I would say from the outset that my views of the world are shaped by the circumstances of a small country.

A blend of public housing and nature
The Government’s decision to build around 6,000 Housing Board flats on the Keppel Club site in the Greater Southern Waterfront (GSW) means that a massive two-thirds of the site has been allocated to public housing.


Update on COVID-19 (Coronavirus Disease 2019) Situation

New Covid-19 cases in Singapore nearly double to 4,718, one death reported
The number of daily new Covid-19 infections in Singapore climbed to 4,718 on Tuesday (Apr 19), nearly double from 2,480 cases the day before. Case numbers on Tuesdays tend to be higher compared with the rest of the week as they reflect the spike in infections after the weekend, when more people are out in various social settings.

Oral antiviral molnupiravir gets interim authorisation for Covid-19 treatment in S’pore
Singapore – A second oral antiviral medicine has been authorised in Singapore for the treatment of mild to moderate Covid-19 in individuals aged 18 years and above.

Nightlife outlets in S’pore reopen to cheers from patrons, operators after 2 years of Covid-19 silence
Singapore – It was music to her ears when she heard that the nightlife sector could reopen for business on Tuesday (April 19). “It is good and happy news that the nightlife business can open again. During the (height of the Covid-19) pandemic, there were days that you would not see even a single soul in Clarke Quay.

*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

IMF sees no ‘bounce back’ in Russian economy, warns of further damage if sanctions expanded

IMF economist concerned about inflation expectations climbing upward

New Zealand home construction costs advance at a record pace

New Zealand tourism to take years to recover from Covid-19 shutdown

Apac prime office rents seeing sustained recovery: Knight Frank

China’s property sector contracts for third straight quarter

China central bank pledges support for businesses hit by Covid-19

UBS to Bank of America slash China GDP forecasts on Covid-19 damage

Japan posts bigger-than-expected trade gap as energy imports jump

Japan’s finance minister warns against yen slump, economic fallout

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