The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 17th July 2019

Singapore Real Estate

Singapore Shopping Centre on en bloc market with S$255m reserve price

Singapore Shopping Centre has put itself on the collective sale market with a reserve price of S$255 million.  The seven-storey retail and office development, located at 190 Clemenceau Avenue in the Orchard area, spans a land area of 2,449.8 sq m.


Small District 9 condo sold in 2019’s first residential collective sale

A small District 9 apartment building has broken a more than six-month silence in the residential collective sale market.  The five-unit Sophia View was sold in June in Singapore to a private investor.  Marketing agent SRI declined to reveal the exact price tag coughed up but said each unit will get about S$2 million.


GCB to be auctioned in mortgagee sale with guide price of S$42m

A good Class Bungalow (GCB) at 80 Belmont Road will be auctioned next week in a mortgagee sale with a guide price of S$42 million, property consultancy Knight Frank Singapore said on Tuesday.  This works out to a price tag of about S$1,557 per square foot (psf).


Singapore Economy

Singapore exports post 4th month of double-digit decline with 17.3% plunge in June

Singapore’s exports, already in double-digit decline for three straight months, fell again in June, according to Enterprise Singapore data released on Wednesday morning.  Non-oil domestic exports (NODX) were down by 17.3 per cent on the year before – a six-year low and steeply worse than the drop of 9.6 per cent predicted by private economists in a Bloomberg poll.


IMF: Singapore’s financial sector oversight among world’s best, but 2019 growth outlook is weaker

The International Monetary Fund (IMF) has reaffirmed Singapore’s financial sector oversight to be “among the best globally”, and described the country’s economic fundamentals as strong, and its economic policies as sound.  This was its third financial sector assessment programme (FSAP) done on Singapore, with the last one done in 2013.

Companies Brief

CapitaLand Commercial Trust DPU up 1.9% to 2.2 S cents for Q2

CapitaLand Commercial Trust’s (CCT) distribution per unit (DPU) for the second quarter is up 1.9 per cent to 2.2 Singapore cents, from 2.16 cents a year ago, from the acquisition of an office building in Germany and higher revenue from its properties.  Net property income for the quarter ended June 30 grew 0.8 per cent to S$78.4 million, from S$77.7 million a year ago, according to results released on Wednesday.


CCT to buy German office building from CapitaLand, Lum Chang for 133.4m euros

CapitaLand Commercial Trust (CCT) will acquire an effective 94.9 per cent interest in the holding companies of a freehold office building in Frankfurt, Germany, from its sponsor CapitaLand and Lum Chang Holdings.  The purchase consideration will be 133.4 million euros (S$205.3 million), the manager of the real estate investment trust (Reit) said on Wednesday morning.


Frasers Property secures novel A$500m green loan for two Singapore properties

Frasers Property Limited has secured a A$750 million (S$715.2 million) term loan, comprising a A$500 million green loan tranche and a A$250 million five-year tranche, the real estate developer said on Wednesday morning. The A$500 million tranche is Singapore’s first green loan with a pricing structure linked to the BCA Green Mark, said the company.  The BCA Green Mark is a rating system to evaluate a building for its environmental impact and performance.


Keppel-KBS US Reit posts Q2 DPU of 1.5 US¢

An enlarged number of units from a rights issue, which outweighed contributions from two more recently acquired properties, led Keppel-KBS US Reit (KORE) to post a distribution per unit (DPU) in its second quarter ended June 30 of 1.5 US cents, lower than its forecast of 1.58 US cents for the period.  Restated for the Nov 26 rights issue, its forecast DPU for that quarter would have been 1.47 US cents. Its actual Q2 2018 DPU was also 1.5 US cents.


Retail tranche for Prime US Reit IPO set at 40.9m units

The manager of Prime US Reit has set aside about 40.9 million units of its initial public offering (IPO) for public subscription – well above the minimum offer size of 16.8 million units for retail investors.  KBS US Prime Property Management announced on Tuesday that 2,708 valid applications for 42.4 million units of Prime US Reit were received for the public tranche at the close of the offer on July 15.


Global Economy & Global Real Estate

As Federal Reserve nears rate cut, policymakers debate how deep, and even if it’s needed

US retail sales increase solidly in boost to economy

US manufacturing output climbs for second month in June

The Most (and Least) Popular Spots for U.S. Vacation Homes

Student accommodation sector in UK a bright spot in gloomy times

HK retailers forecast sharp drop in sales as protests rock city

Australian prime home-loan arrears stabilise in May, trend to continue: S&P

IMF sees Vietnam’s economic growth slowing to 6.5% in 2019 from trade tensions

Indian real-estate developers at risk as credit dries up

Death toll rises to 10 in Mumbai building collapse as rescue efforts continue


Additional Articles of Interests — Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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