DAILY NEWS

Daily News – 22nd Jun 2018

Top Story

Marina One Residences launching tower at average S$2,700-S$2,800 psf
Come July, the developer behind the mega mixed-use project Marina One will find out whether its strategy four years ago of holding back half its 1,042 residential units from the market has paid off. M+S Pte Ltd, the joint-venture firm by Malaysia’s Khazanah Nasional and Singapore’s Temasek Holdings, will release 30 per cent of its 521-unit Garden Tower for sale, with the rest expected to be released in the remainder of the year.
https://www.businesstimes.com.sg/real-estate/marina-one-residences-launching-tower-at-average-s2700-s2800-psf

Singapore Economy

Singapore ranked safest destination in the world for 3rd consecutive year: Gallup
Singapore: Singapore has emerged as the safest destination in the world for the third consecutive year, according to Gallup’s latest law and order report. Gallup’s Law and Order Index, which polls residents from 142 countries, is a composite score out of a possible 100 points.
https://www.channelnewsasia.com/news/singapore/singapore-ranked-safest-destination-in-the-world-for-3rd-10454308

Singapore businesses eye opportunities in North Korea in hope of change
Singapore: Nearly 20 Singaporean business people are expected to visit North Korea to explore opportunities there, an executive said on Thursday (Jun 21), in anticipation of better ties after Singapore played host to a North Korea-US summit. Michael Heng, a business consultant in Singapore, said he got an invitation for a delegation to visit North Korea on Jun 13, the day after its leader, Kim Jong Un, and US President Donald Trump agreed in Singapore to work towards the denuclearisation of the Korean peninsula.
https://www.channelnewsasia.com/news/singapore/singapore-businesses-eye-opportunities-in-north-korea-in-hope-of-10455876

Singapore Real Estate

Major developers vie for Sengkang Central site
The commercial and residential site at Sengkang Central drew interest from major developers that submitted seven bids at the tender closing on Thursday. Most of them joined forces in joint ventures for the government land sale (GLS) site, which was launched for sale via the dual envelope system.
https://www.businesstimes.com.sg/real-estate/major-developers-vie-for-sengkang-central-site
https://www.straitstimes.com/business/property/major-developers-vying-for-site-in-sengkang-central

Companies’ Brief

Cushman & Wakefield files for US IPO
Cushman & Wakefield has filed for an initial public offering (IPO) in the US, saying it would use proceeds to reduce debt. The commercial real estate firm listed the amount of its offering in a filing on Wednesday as US$100 million.
https://www.businesstimes.com.sg/real-estate/cushman-wakefield-files-for-us-ipo

Views, Reviews, Forum & Others

Smart mobility for a Smart Nation: Are we nearly there yet?
Consider these statistics for a moment: 22 of the world’s 39 megacities are in the Asia-Pacific region alone and, by 2050, 70 per cent of the world’s population is expected to live in cities, a substantial increase from 55 per cent today. The rate of urbanisation in Asia is staggering, and presents huge economic and social opportunities for the region. To sustain this pace of growth, however, Asia’s cities will have to become “smarter” too.
https://www.businesstimes.com.sg/opinion/smart-mobility-for-a-smart-nation-are-we-nearly-there-yet

Ho Bee may have last laugh by eschewing crowded Singapore market for London
Ho Bee Land’s acquisition of Ropemaker Place, a 21-storey London office property, has boosted its total investment in this asset class to about £1.3 billion or S$2.4 billion. This makes up 41 per cent of the group’s total investment portfolio. The property is less than 200 metres from the Moorgate Station on the Crossrail, which is expected to be operational in December this year. Ropemaker Place is also 400 m from the busy Liverpool Street Station.
https://www.businesstimes.com.sg/companies-markets/ho-bee-may-have-last-laugh-by-eschewing-crowded-singapore-market-for-london

47-year-old man killed after construction site accident along Woodlands Ave 5
Singapore: A 47-year-old man died on Thursday (Jun 21) after an accident at a construction site in Woodlands. The Singapore Civil Defence Force (SCDF) said it was alerted to the incident at about 1pm at the junction of Woodlands Avenue 5 and South Woodlands Way.
https://www.channelnewsasia.com/news/singapore/47-year-old-man-killed-after-construction-site-accident-along-10455650