DAILY NEWS

Daily News – 22 January 2016

Singapore Real Estate

Estates to be revitalised, with homes nearer to green spaces: MND, MEWR
The Government is committed to providing a range of public housing options so there is “a home for every budget and need”, said the Ministry of National Development on Thursday (Jan 21). The living environment will also be improved: Older estates will undergo makeovers, while more homes will be closer to green spaces, with 90 per cent of households located within 400 metres of a park or park connector by 2030.
http://www.channelnewsasia.com/news/singapore/estates-to-be-revitalised/2444686.html

High-end property market promising despite lack of foreign demand: Analysts
The private home market in the Republic is in the doldrums, with the prime residential segment especially quiet. However, with a lack of new supply expected in coming years, some analysts have said the prime segment could be the first to benefit from a market recovery. One reason why high-end projects appear to have been hit hardest is the drop in foreign demand, due to measures such as the Additional Buyer Stamp Duty (ABSD).
http://www.channelnewsasia.com/news/business/singapore/high-end-property-market/2444750.html

S’pore property: foreign buying hits a low as Chinese sales plunge
Foreigners including the Chinese have cut their purchases of Singapore private homes to the lowest since the global financial crisis, leaving the market to depend on local buyers at a time when domestic interest rates are on the rise. Foreigners, including permanent residents, bought 499 homes in the fourth quarter of 2015, according to data compiled by consultancy DTZ.
http://www.businesstimes.com.sg/real-estate/spore-property-foreign-buying-hits-a-low-as-chinese-salesplunge

More than 100 property agencies exit industry
As a sign of the current market conditions, a total of 104 property agencies and 3,573 real estate agents left the industry after the latest licence renewal exercise with the Council for Estate Agencies (CEA). The CEA had licensed 1,369 estate agents and registered 29,262 salespeople as at Jan 1, 2016.
http://www.businesstimes.com.sg/real-estate/more-than-100-property-agencies-exit-industry
http://www.todayonline.com/singapore/sharp-drop-new-property-agents-2015
http://www.straitstimes.com/singapore/housing/fewer-choose-to-be-real-estate-agents

Singapore office landlords have that empty feeling
Singapore’s office landlords are among the world’s most luckless right now, and they have builders to blame. The market already has an empty feel to it, and as developers add more space in a slowing economy, property owners’ misery could keep compounding.
http://www.businesstimes.com.sg/real-estate/singapore-office-landlords-have-that-empty-feeling

HDB focus on couples, needy and elderly folk
Having met demand for HDB flats, the Housing Board will now make sure young couples and the lower income get the help they need to own their homes. The elderly, too, will get help moving to smaller homes as well as moving about more easily at home and in their estates.
http://www.straitstimes.com/singapore/hdb-focus-on-couples-needy-and-elderly-folk?login=true

Companies’ Brief

FCT manages higher Q1 DPU on lower property expenses
Frasers Centrepoint Trust (FCT), which owns a string of suburban retail malls in Singapore, has posted distribution per unit (DPU) of 2.87 Singapore cents for the first quarter ended Dec 31, 2015, up 4.4 per cent from the 2.75 cent DPU in the same year-ago period. Unitholders will receive their payout on Feb 29.
http://www.businesstimes.com.sg/companies-markets/fct-manages-higher-q1-dpu-on-lower-propertyexpenses
http://www.straitstimes.com/business/companies-markets/lower-property-expenses-boost-fcts-q1-returns?login=true

Ascendas India Trust
New acquisitions, as well as higher rents and occupancy levels, helped boost third-quarter distribution per unit (DPU) at Ascendas India Trust by 17 per cent over the previous year. The first Indian property trust in Asia posted a DPU of 1.36 cents for the three months to Dec 31. Distributable income rose 14 per cent over the corresponding period a year ago to 583 million rupees (S$12.3 million).
http://www.straitstimes.com/business/companies-markets/company-briefs-ascendas-indiatrust?login=true

Soilbuild Reit expects stable FY2016 as it raises Q4 DPU
Despite manufacturing slowdown putting pressure on the industrial property segment in 2015, Soilbuild Business Space Reit managed to secure renewals and new leases for the bulk of leases due for expiry that year. This was due to proactive negotiation, Soilbuild said on Thursday as it announced its 2015 fourthquarter and full-year financial results.
http://www.businesstimes.com.sg/companies-markets/soilbuild-reit-expects-stable-fy2016-as-it-raises-q4-dpu

First Real Estate Investment Trust
We are likely to see zero rental reversions in 2016 on the back of weak Singapore CPI (consumer price index) growth. Acquisition of Kupang property is still expected to drive DPU (distribution per unit) growth, with full contribution this year. First Reit will also receive increasing income from progressive payments for the Siloam Hospitals asset swap initiative.
http://www.businesstimes.com.sg/companies-markets/brokers-take-213

Fortune Reit posts 13% jump in FY2015 DPU
Fortune Real Estate Investment Trust (Fortune Reit) on Thursday reported a distribution per unit (DPU) of 46.88 Hong Kong cents (8.62 Singapore cents) for its fiscal year ended Dec 31, 2015. This was 12.5 per cent higher than the 41.68 cents paid a year ago. Revenue was 13.7 per cent higher at HK$1.88 billion, while net property income also rose 14 per cent to HK$1.32 billion.
http://www.businesstimes.com.sg/companies-markets/fortune-reit-posts-13-jump-in-fy2015-dpu

Outgoing CFO of CDL joins Raffles Medical
The outgoing chief financial officer (CFO) of City Developments Limited (CDL), Goh Ann Nee, has been appointed the new CFO of Raffles Medical Group. In a regulatory filing on Thursday, the healthcare group said the appointment will take effect from Feb 1.
http://www.businesstimes.com.sg/companies-markets/outgoing-cfo-of-cdl-joins-raffles-medical

Fish & Co at Glass House outlet to close in June
http://www.straitstimes.com/business/companies-markets/fish-co-at-glass-house-outlet-to-close-injune?login=true http://www.channelnewsasia.com/news/business/singapore/fish-co-glasshouse-outlet/2444128.html