The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 1 & 2 Jan 2020

Singapore Real Estate

Singapore private home prices up 0.3% in Q4, 2.5% for 2019: URA flash data
Private home prices in Singapore rose for the third consecutive quarter in 2019, as the Urban Redevelopment Authority’s (URA) flash estimate for the fourth quarter of 2019 shows that its overall price index for private homes rose 0.3 per cent over the prior quarter.  For 2019 as a whole, prices are up 2.5 per cent, versus the 7.9 per cent rise seen in 2018, according to the URA flash data released on Thursday morning.

Prices of HDB resale flats sold in Q4 2019 rose 0.4%
[Singapore] The prices of Housing Board (HDB) resale flats rose by 0.4 per cent in the last three months of 2019 as compared with the third quarter, in what was the largest quarter-on-quarter increase last year, latest public housing figures show.  Based on flash estimates, there was no change in resale flat prices for the whole of last year, according to HDB, which released the data on Thursday.

JTC launches 2 sites – at Jalan Papan, Tuas Avenue 6 – for tender
JTC has launched two sites – at Jalan Papan and Tuas Avenue 6 – for tender under the second half of the 2019 industrial government land sales (IGLS) programme.  The launch is part of the government’s efforts to offer more choices for industrial development, JTC said in a statement on Tuesday.

Three themes to drive masterplan for Somerset Belt
A finalised masterplan for transforming Somerset into a youth-oriented area will be revealed in the next three months, The Straits Times has learnt.  The masterplan will be guided by three key themes – “urban culture”, “adaptable architecture” and “future ready” – distilled from ideas from thousands of young people, said a spokesman for the Ministry of Culture, Community and Youth in response to ST queries.

Ideas for youth hub


Singapore Economy

DPM Heng to deliver 2020 Budget Statement on Feb 18
Deputy Prime Minister and Finance Minister Heng Swee Keat will deliver Singapore’s 2020 Budget Statement in Parliament on Feb 18, the Ministry of Finance (MOF) said in a statement on Wednesday.  There will be live television and radio coverage of the Budget Statement.

Economists estimate Singapore GDP grew 0.8% for Q4 2019
Singapore’s economy is forecast to have expanded at a slightly faster pace in the fourth quarter, with economists expecting the services sector to compensate for a prolonged manufacturing slowdown.  Gross domestic product (GDP) is expected to have expanded 0.8 per cent from the same period a year earlier, according to the median of nine economists’ estimates. The economy grew 0.5 per cent in July-September.

Bank lending up 0.5% in Nov, but housing loans slide
Bank lending rose slightly in November although housing loans continued to slide, according to data out yesterday.  Loans through the domestic banking unit, which captures lending in all currencies but reflects mainly Singapore-dollar lending, came in at $692.73 billion. That was 0.5 per cent above the $689.42 billion in October.

Analysts expect central banks to hold or cut policy rates
It seems that nobody is expecting the United States Federal Reserve and other key central banks to tighten their monetary policies in 2020. In fact, most pundits are seeing these central banks to either hold or cut their policy rates.  A survey by The Business Times of more than 10 research houses, investment banks and asset managers shows that the majority think that the Fed will hold its funds rate at the current range of…


Companies’ Brief

CapitaLand raises stake in LFIE with China residential development project
CapitaLand on Tuesday announced that it has acquired an additional 34.94 per cent stake consisting of 76.1 million shares in LFIE Holding from another shareholder of LFIE which is unrelated to CapitaLand for 684.1 million yuan (S$132.8 million).  LFIE owns a 100-per-cent stake in project company Guangzhou Li Kai Real Estate Development Co through its subsidiaries, Kistor and LFIE Districenter. The project company…

Keppel Corp charts plan for new decade
Keppel Corporation is drawing up a plan for the new decade leading up to 2030 – one that may involve shedding non-core businesses, according to its chief executive Loh Chin Hua’s New Year message to employees on Wednesday.  In an exercise involving about 30 “younger” business leaders from Keppel to discuss the future, there were “significant areas of convergence”, such as the need to focus and build on…

Marina Mandarin Singapore to be rebranded Parkroyal Collection Marina Bay
Property group United Industrial Corporation (UIC) on Tuesday announced the rebranding of Marina Mandarin Singapore to Parkroyal Collection Marina Bay, Singapore with effect from Jan 1, 2020.  Under a hotel management agreement, the hotel will be operated by Pan Pacific Hospitality, a wholly-owned unit of UOL Group.

Soilbuild Construction Group clinches 2 contracts worth S$74m
Soilbuild Construction Group on Tuesday said it has been awarded a contract for the building of a 10-storey multi-user general industry factory by SB (Yung Ho) Investment with temporary ancillary industrial canteen and mezzanine for ancillary office at Corporation Drive for about S$58.1 million, as well as a S$15.6 million subcontract awarded by a third-party main contractor for the supply and delivery of precast…|

Stephen Riady, Brian Riady helm OUE following CEO’s retirement
Indonesian tycoon Stephen Riady and his 29-year-old son will be taking a more hands-on role at OUE, with the retirement of its long-time CEO Thio Gim Hock.  Mr Thio, 81, retired from the property and hospitality group on Dec 31, after having held the position since 2007, according to Singapore Exchange filings.

Warburg Pincus-backed NWP buys 5 Lippo malls for US$124m
NWP Retail, a shopping mall developer backed by Warburg Pincus LLC, will spend US$123.5 million buying five Lippo shopping malls in Indonesia.  Two shopping malls will be acquired from the Indonesian units of Singapore-listed Lippo Malls Indonesia Retail Trust for US$92 million while another three will be bought for US$31.5 million from entities owned by PT Multipolar.

Inspector for Eagle Hospitality Trust’s Queen Mary loses job
The long-time consultant for Eagle Hospitality Trust’s (EHT) Queen Mary floating hotel has been fired, following his slew of scathing inspection reports on the ship’s deteriorating condition.  he City of Long Beach in California, which leases the Queen Mary to EHT, terminated its exclusive contract with Edward Pribonic, according to a report by the Long Beach Post on Tuesday.


Views, Reviews, Forum & Others

Look Ahead 2020: Property — Few policy changes ahead but Sers, co-living to offer excitement
Singapore — 2019 was a busy year for the Ministry of National Development, with several major announcements related to housing policies.   Analysts told TODAY that they expect 2020 to be a “quiet year” with few to no policy changes, especially with a General Election around the corner — it has to be called by April 2021.

Look Ahead 2020: Economy — After rough 2019, a smoother road ahead
Singapore — In the middle of 2019, economists began worrying that the global economy, and therefore trade-dependent Singapore, would slide into a recession in 2020.  However, the economic climate improved, and for the third quarter Singapore pulled in better-than-expected growth figures.


Global Economy & Global Real Estate

Trump Organization fires unauthorised labourers

Migration provides economic boost for Florida

UK to raise minimum wage by over 6% in 2020

China ends 2019 with record defaults, dull yuan

‘China + 1’ hedge will keep Asean in spotlight

China’s factory activity grows as easing trade spat with US revives demand

China cuts banks’ reserve ratios, frees up 800b yuan for economy

Hong Kong home prices snap 5-month decline in Nov

Australian home prices end year with strongest gains since 2009

South Korea factory activity returns to growth in Dec            

Thai Dec inflation quickens to 0.87%, slightly below forecast

Mukesh Ambani’s Reliance unveils online store in challenge to Amazon

Lodha Group urges unconventional policies to fight growth woes


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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