The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 21st March 2018

Singapore Economy

Singapore still the most liveable city in Asia: Mercer
Singapore continues to offer the highest quality of living among Asian cities, according to human resources consultant Mercer’s 20th annual Quality of Living survey.  Globally, it came in at 25th place, based on analysis of data largely from September to November 2017.

Strong outlook draws more Singapore firms to Asean
The stronger global trade outlook is reigniting Singapore companies’ interest in doing business with – and conducting due diligence on – their overseas counterparts, especially in the region.  Overseas credit searches by local businesses rose by 3.04 per cent last year following a 1.16 per cent decline in 2016, according to the Singapore Commercial Credit Bureau (SCCB).

Singapore Real Estate

Far East-led consortium places 3 of total 15 bids for Holland site
Property giant Far East Organization – which has been lagging its rivals in a land shopping binge in the past year or so – is leading a consortium that has placed three bids for a prime commercial and residential site in Holland Road.  The Urban Redevelopment Authority’s first dual-envelope tender in eight years drew a strong turnout on Tuesday. In all, 15 bids were received from 10 consortiums for the 99-year leasehold site near Holland Village MRT Station. Four of the groups placed multiple bids to raise their chances of clinching the site.

Companies’ Brief

CapitaLand unit to manage mall in Oxley’s The Peak in Phnom Penh
Developer CapitaLand, through its wholly owned shopping mall business CapitaLand Retail, has signed an agreement to manage a mall in Cambodia’s capital, Phnom Penh.  The mall is the retail component of The Peak, an upcoming high-end integrated development majority owned by Singapore-based developer Oxley and Cambodian company Worldbridge Land.

Mapletree Commercial Trust to issue S$120m 3.28% fixed rate notes due 2024
The manager of Mapletree Commercial Trust (MCT) announced on Tuesday after trading hours that Mapletree Commercial Trust Treasury Company has issued S$120 million in principal amount of 3.28 per cent fixed rate notes due 2024.  This is part of its S$1 billion Multicurrency Medium Term Note Programme, which was established on Aug 8, 2012. Moody’s Investors Service has on March 20, 2018 assigned a definitive rating of “Baa1” 2 to the notes, similar to MCT’s long-term issuer rating.

Cotec Healthcare shares costs to deliver quality care in Vietnam
Life has not slowed down for Lim Cheok Peng after he stepped down from his managing director post at Malaysian hospital operator IHH Berhad in 2013.  Besides helping to develop Kuala Lumpur’s first rehabilitation hospital with Khazanah Nasional, practising in a clinic here and doing consultancy work, Dr Lim also became the vice chairman of Vietnamese hospital developer Cotec Healthcare two months ago.

Global Economy & Global Real Estate

Technology advances can help secure formal land rights

California housing problems are spilling across to neighbouring states

UK inflation slows in February as Brexit hit to pound fades

Squatters in upmarket London property spark debate over homeless

China will open its markets further and aims to avert trade war, says premier

Country Garden’s annual core profit doubles to record

UAE developers Emaar, Aldar plan 30b dirham in joint projects

Batam tech park aims to be ‘digital bridge’ in region

Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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