DAILY NEWS

Daily News – 22nd August 2019

Singapore Real Estate

33 strata retail units at Parklane Shopping Mall put up for sale
Parklane Shopping Mall along Selegie Road has 33 strata retail units located on the first-level basement of the mall put up for sale via an expression of interest exercise, with an indicative value of S$55.7 million. This translates to around S$2,200 per square foot (psf) based on a total strata floor area of 2,352 square metres (sq m), exclusive marketing agent Colliers International said on Wednesday.
https://www.businesstimes.com.sg/real-estate/33-strata-retail-units-at-parklane-shopping-mall-put-up-for-sale
https://www.straitstimes.com/business/property/33-units-at-parklane-shopping-mall-up-for-sale

15 strata offices at Peninsula Plaza up for sale with S$17.6m guide price
Fifteen strata offices at Peninsula Plaza have been put up for sale via tender with an indicative price of S$17.6 million, said exclusive marketing agent Cushman & Wakefield on Wednesday. That works out to S$2,255 per square foot (psf), with the offices also for sale individually. This is within the price range of recently transacted units at Peninsula Plaza which hit S$2,500 psf earlier in April this year, said Cushman.
https://www.businesstimes.com.sg/real-estate/15-strata-offices-at-peninsula-plaza-up-for-sale-with-s176m-guide-price-0
https://www.straitstimes.com/business/property/15-strata-offices-at-peninsula-plaza-up-for-sale-with-176m-guide-price

Kaki Bukit Place factory up for sale with S$5.5m indicative price
A five-storey intermediate terrace factory at 9 Kaki Bukit Place has been put up for sale by expression of interest for an indicative price of S$5.5 million. This works out to approximately S$420 per square foot (psf) based on a gross floor area of 13,110 sq ft, according to sole marketing agent CBRE. No payable land rent or additional buyer’s stamp duty will be imposed on foreigners and companies that are eligible to purchase…
https://www.businesstimes.com.sg/real-estate/kaki-bukit-place-factory-up-for-sale-with-s55m-indicative-price-0
https://www.straitstimes.com/business/property/kaki-bukit-place-factory-up-for-sale-with-55m-indicative-price

HDB sales exercise pushed to September so buyers can benefit from upcoming changes: Lawrence Wong
Singapore: The Housing and Development Board’s (HDB) August sales exercise will be pushed to September, said Minister for National Development Lawrence Wong in a Facebook post on Tuesday (Aug 20). The move is to allow more home buyers to benefit from “upcoming changes”, Mr Wong said, adding that he will announce the details in September.
https://www.channelnewsasia.com/news/singapore/hdb-bto-august-sales-exercise-pushed-september-lawrence-wong-11827238

Singapore Economy

Govt to engage businesses on support package for retirement, re-hiring age changes: Heng
Ministers from the Finance Ministry will continue to actively engage businesses, unions and other stakeholders, and develop a support package to help with the transition to higher retirement and re-employment ages. In a Facebook post on Tuesday night, Deputy Prime Minister Heng Swee Keat said he had spoken to many unionists, students, grassroots leaders and community partners after the National…
https://www.businesstimes.com.sg/government-economy/govt-to-engage-businesses-on-support-package-for-retirement-re-hiring-age-changes
https://www.straitstimes.com/business/companies-markets/new-approach-to-deliver-help-to-firms-on-the-way

Companies’ Brief

Keppel Land China inks JV to acquire, develop Nanjing mixed-use site
Keppel Corporation unit Keppel Land China is entering a joint venture (JV) to acquire and develop a 3.8 hectare commercial and residential mixed-use development site in Nanjing, China, with an estimated total development cost in excess of five billion yuan (S$990 million), Keppel Corp announced on Wednesday. Keppel Land China unit Shanghai Ming Bu Industrial Co (SMBI) has entered a share-purchase agreement…
https://www.businesstimes.com.sg/companies-markets/keppel-land-china-inks-jv-to-acquire-develop-nanjing-mixed-use-site

Yanlord Land unit prices US$400m senior notes due 2024 at 6.8%
A unit of Yanlord Land has priced its US$400 million senior notes due 2024 at 6.8 per cent, payable semi-annually in arrears, the China-based property developer said on Thursday after midnight in a regulatory filing. The notes are expected to be issued on Aug 27 by subsidiary Yanlord Land (HK) Co, and listed on the Singapore Exchange (SGX).
https://www.businesstimes.com.sg/companies-markets/yanlord-land-unit-prices-us400m-senior-notes-due-2024-at-68
https://www.straitstimes.com/business/companies-markets/yanlord-land-unit-prices-us400m-senior-notes-due-2024-at-68

Views, Reviews, Forum & Others

Property sales are picking up: What next?
Developers’ overall housing sales volume for July 2019 was their highest in 12 months. New projects have also been launched this year at relatively high prices for their respective locations. These trends are likely to persist in the near term as developers keep rolling out new launches to ride on the improvement in home-buying momentum.
https://www.businesstimes.com.sg/companies-markets/property-sales-are-picking-up-what-next

Specific measures could dampen ‘lottery effect’ of public housing at the Greater Southern Waterfront, experts say
Singapore: Measures such as shorter leases and longer minimum occupancy periods (MOP) might help to mitigate the “lottery effect” of public housing at the Greater Southern Waterfront (GSW), experts said.
This follows the announcement by Prime Minister Lee Hsien Loong on Sunday that there are plans to build 9,000 private and public housing units on the site of the current Keppel Club when its lease expires in two…
https://www.channelnewsasia.com/news/singapore/specific-measures-could-dampen-lottery-effect-of-public-housing-11825766

Economic slowdown, yes, but Singapore is looking beyond the short term
With the economic slowdown very much a dominant issue in the headlines of late, some in Singapore might have looked to the Prime Minister’s National Day Rally speech last Sunday for some promise of fiscal support or relief measures. After all, neighbouring Thailand, as well as Hong Kong, have announced “urgent” economic stimulus packages; China is also set to roll out a plan this year and the next to spur…
https://www.businesstimes.com.sg/opinion/economic-slowdown-yes-but-singapore-is-looking-beyond-the-short-term