DAILY NEWS

Daily News – 19th, 20th and 21st January 2019

Singapore Real Estate

2019’s first home launches sell over 30% of units
Three condominium projects that were the first launches this year saw over one-third of their released units sold. An analyst said that the results reflected a “very, very cautious” market while another said this showed that there is still demand post-cooling measures. Roxy-Pacific Holdings’ freehold developments RV Altitude and Fyve Derbyshire were launched last Friday and Saturday respectively.
https://www.businesstimes.com.sg/real-estate/2019s-first-home-launches-sell-over-30-of-units

Singapore Economy

Budget 2019 could be generous – election or not: analysts
With Singapore’s next general election due by April 2021, economists and political watchers see a chance that the upcoming Budget may be the final one before the polls, raising expectations of goodies such as handouts and tax rebates. Yet, regardless of whether Budget 2019 turns out to be a pre-election one, it is expected to be expansionary, given the economic outlook and recent accumulated surpluses.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2019/budget-2019-could-be-generous-election-or-not-analysts
https://www.straitstimes.com/singapore/budget-2019-to-focus-on-education-healthcare-security

Companies’ Brief

Surbana Jurong builds new campus in Jurong Innovation District
Urban and infrastructure consultancy Surbana Jurong is building a new campus for its global headquarters in the upcoming Jurong Innovation District. The groundbreaking ceremony for the 68,915 square metre development was held on Friday.
https://www.businesstimes.com.sg/real-estate/surbana-jurong-builds-new-campus-in-jurong-innovation-district
https://www.straitstimes.com/business/property/surbana-building-new-campus-for-global-hq

Post-Viva merger, ESR-Reit focuses efforts on Singapore assets
ESR-Reit, now one of the largest industrial Reits here with S$3 billion in property value after a merger, isn’t rushing into overseas markets just yet. As it is, the Reit’s already has its hands full with its 57 existing assets in Singapore – up to seven have been identified for asset enhancement initiatives over the next three years, and it might accelerate those plans if market demand calls for it.
https://www.businesstimes.com.sg/companies-markets/post-viva-merger-esr-reit-focuses-efforts-on-singapore-assets
https://www.straitstimes.com/business/esr-reit-focusing-on-spore-after-merger

FCOT’s Q1 DPU flat at S$0.024
Frasers Commercial Trust will pay a distribution per unit (DPU) of 2.4 Singapore cents for the first quarter, unchanged from the year before, the manager said on Friday. This was despite net property income falling 15 per cent year-on-year to S$21.1 million, in line with an 11 per cent drop in revenue to S$31.5 million for the three months to Dec 31, 2018.
https://www.businesstimes.com.sg/companies-markets/fcots-q1-dpu-flat-at-s0024

Wendy Tang to join Knight Frank as group MD from April
Knight Frank Singapore has appointed real estate veteran Wendy Tang as group managing director (MD) with effect from April this year to replace current group MD and executive chairman Danny Yeo. Mr Yeo will continue to helm the company as executive chairman of Knight Frank Singapore.
https://www.businesstimes.com.sg/real-estate/wendy-tang-to-join-knight-frank-as-group-md-from-april

CEO of Frasers Centrepoint Trust’s manager Chew Tuan Chiong to retire by end-2019
Chew Tuan Chiong, chief executive of Frasers Centrepoint Asset Management, will step down by year-end, the manager of Frasers Centrepoint Trust said on Monday morning (Jan 21). Dr Chew, now 61, has told the board that he plans to retire from his roles as CEO and executive director. He is due to reach the national minimum retirement age of 62 in 2019.
https://www.straitstimes.com/business/companies-markets/ceo-of-frasers-centrepoint-trusts-manager-chew-tuan-chiong-to-retire-by

Views, Reviews, Forum & Others

The 3 Ls of real estate to watch in 2019
Trade tensions between the United States and China, strains in the EU caused by Brexit negotiations, and rising interest rates are just a few of the macro risks pushing investors to seek safe havens for their capital. A decade into the economic cycle, real estate continues to look attractive thanks to its diversification benefits and relatively higher returns compared to other asset classes.
https://www.businesstimes.com.sg/real-estate/the-3-ls-of-real-estate-to-watch-in-2019

Is there a more permanent solution than Vers for HDB flats?
The Voluntary Early Redevelopment Scheme (Vers) that will allow home owners to vote on whether to sell their Housing Board flats to the Government once the leases on the apartments near their end was arguably the most significant policy announced last year. Vers provides owners of older HDB flats some peace of mind as it will help to boost liquidity for homes with decaying leases.
https://www.straitstimes.com/business/invest/is-there-a-more-permanent-solution-than-vers-for-hdb-flats

Home owners of Ampas Apartment sue Oxley Holdings unit in collective sale dispute
Forty home owners of the 43-unit freehold Ampas Apartment, which was sold last year in a $95 million collective sale, have sued the buyer for wanting to pull out of the deal. Oxley Jasper, a subsidiary of public-listed Oxley Holdings, said it was entitled to call off the deal after its proposal for a new residential development was rejected by the planning authorities.
https://www.straitstimes.com/singapore/courts-crime/owners-sue-oxley-unit-in-collective-sale-dispute