DAILY NEWS

Daily News – 23 July 2021 (Fri)

Singapore Real Estate

Singapore retail property rents, prices continue to slide in Q2
Retail property rents and prices in Singapore’s central region continued to slide in the second quarter this year. The Urban Redevelopment Authority’s rental index for retail space in the central region fell 0.5 per cent in the second quarter of this year over the previous quarter.
https://www.businesstimes.com.sg/real-estate/singapore-retail-property-rents-prices-continue-to-slide-in-q2

Singapore Q2 private home prices up 0.8%, easing from 3.3% growth in prior quarter
Led by non-landed properties, private home prices in Singapore increased 0.8 per cent in the second quarter of this year, slowing from the 3.3 per cent growth chalked up in the previous quarter. A flash estimate earlier this month from the Urban Redevelopment Authority (URA) had put the figure initially at 0.9 per cent.
https://www.businesstimes.com.sg/real-estate/singapore-q2-private-home-prices-up-08-easing-from-33-growth-in-prior-quarter

URA office rent index for central region up 1.3% q-o-q in Q2; islandwide vacancy rises to 12.6%
The Urban Redevelopment Authority’s rental index for office space in Singapore’s central region rose 1.3 per cent in the second quarter of this year over the previous quarter. This is a smaller increase compared with the 3.3 per cent quarter-on-quarter rise in Q1 2021.
https://www.businesstimes.com.sg/real-estate/ura-office-rent-index-for-central-region-up-13-q-o-q-in-q2-islandwide-vacancy-rises-to
https://www.straitstimes.com/business/property/singapore-office-rents-up-13-in-q2-islandwide-vacancy-rises-to-126

HDB resale prices rise 3% in Q2, transactions fall amid Covid-19 curbs
Singapore – Resale prices for Housing Board flats climbed for the fifth consecutive quarter, though the volume of transactions were hit by tightened Covid-19 measures. HDB resale prices rose 3 per cent in the second quarter of this year over the previous three months, matching the increase seen in the first quarter, according to data released by the HDB on Friday (July 23).
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-3-in-q2-number-of-transactions-fall-amid-covid-19-curbs

Rents, prices of Singapore industrial properties increase in Q2; supply is rebounding, says JTC
Industrial rents and prices in Q2 rose over the quarter for the third straight quarterly season, reflecting the economic recovery seen in the manufacturing sector, data released by JTC on Thursday showed. Analysts see a global chip shortage and more in-bound biotech investments creating more demand ahead…
https://www.businesstimes.com.sg/real-estate/rents-prices-of-singapore-industrial-properties-increase-in-q2-supply-is-rebounding-says
https://www.straitstimes.com/business/property/singapores-industrial-rents-prices-up-in-second-quarter

More than a dozen cloud-kitchen units at Lavender’s CT Hub 2 change hands
Ten commercial units used as cloud kitchens at CT Hub 2 have been sold for more than S$8.6 million or S$2,450 per square foot (sq ft) this month, Huttons said on Thursday. It did not identify the buyer. The Business Times first reported in May that design and construction firm Chiu Teng Group is understood to be selling its portfolio of 29 ground-floor cloud kitchen units in CT Hub 2 via expression of interest.
https://www.businesstimes.com.sg/real-estate/more-than-a-dozen-cloud-kitchen-units-at-lavenders-ct-hub-2-change-hands

GuocoLand top bidder for Lentor Central plot; Tampines EC site sets price record
Residential land prices continue to rise, reflecting developers’ optimistic outlook on private home prices and continuing hunger for land, going by the latest state land tender closings. GuocoLand emerged as the highest bidder for a plot next to the upcoming Lentor MRT station on the Thomson-East Coast Line (TEL)…
https://www.businesstimes.com.sg/real-estate/guocoland-top-bidder-for-lentor-central-plot-tampines-ec-site-sets-price-record
https://www.straitstimes.com/business/property/record-bids-lodged-for-tampines-ec-plot-lentor-central-residential-site

Companies’ Brief

GIC posts highest 20-year annualised real return since 2015
Even as economic conditions improve, GIC continues to hold a cautious macro stance amid lofty asset prices and new Covid variants, as it reported a 4.3 per cent annualised rolling 20-year real rate of return – the highest since 2015 – on Friday.
https://www.businesstimes.com.sg/government-economy/gic-posts-highest-20-year-annualised-real-return-since-2015
https://www.straitstimes.com/business/good-gic-showing-will-give-coffers-a-boost
https://www.straitstimes.com/business/asset-returns-will-be-low-for-next-five-to-10-years-gic

GIC to eye more ‘granular’ investment opportunities
Pandemic uncertainty, lofty asset valuations and inflation fears have prompted GIC to wean itself off its reliance on broad market returns. It will instead pursue compelling, recurring opportunities in areas of technological transformation and sustainability…
https://www.businesstimes.com.sg/government-economy/gic-to-eye-more-granular-investment-opportunities
https://www.straitstimes.com/business/gic-increasing-focus-on-sustainable-investments

Sats swings back into the black for Q1 but braces for cut in government relief
In the early days of the Covid-19 pandemic, ground-handler and in-flight caterer Sats was the beneficiary of generous government dole-outs in the forms of wage subsidies through the Jobs Support Scheme (JSS). One year later, chief executive Alex Hungate said he expects these government grants to be “substantially reduced” for FY2022 ending March 2022…
https://www.businesstimes.com.sg/companies-markets/sats-swings-back-into-the-black-for-q1-but-braces-for-cut-in-government-relief

ARA Logos H1 DPU up 10.6% to 2.57 S cents on revenue from Australia acquisition
ARA Logos Log Tr: K2LU 0%’s distribution per unit (DPU) rose 10.6 per cent to 2.57 Singapore cents for the first half ended June 30, 2021, from 2.323 cents the year before. The growth in H1 2021 DPU came despite the enlarged unit base from the issuance of new units in relation to ARA Logos’ maiden Australian portfolio acquisition from its sponsor Logos…
https://www.businesstimes.com.sg/real-estate/ara-logos-h1-dpu-up-106-to-257-s-cents-on-revenue-from-australia-acquisition

ESR-Reit H1 DPU up 14% to 1.554 Singapore cents
ESR-Reit: J91U 0% on Friday reported its distribution per unit (DPU) rose 14.3 per cent to 1.554 Singapore cents for the half year ended June 30, 2021, from 1.359 cents in the year-ago period. Gross revenue for the industrial properties real estate investment trust was up 5.4 per cent to S$119.8 million…
https://www.businesstimes.com.sg/real-estate/esr-reit-h1-dpu-up-14-to-1554-singapore-cents

FCT portfolio occupancy stable for Q3 even as shopper traffic trends lower
Frasers Centrepoint Trust (FCT) said its retail portfolio occupancy remained stable during the third quarter ended June, despite disruptions from Covid-19. In a quarterly business update lodged on Thursday, FCT said committed portfolio occupancy across its retail portfolio stood at 96.4 per cent as at June 30…
https://www.businesstimes.com.sg/real-estate/fct-portfolio-occupancy-stable-for-q3-even-as-shopper-traffic-trends-lower

Sabana Reit’s H1 DPU trebles to 1.48 S cents; to remove Shari’ah compliance requirement
The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) has announced a distribution per unit (DPU) of 1.48 Singapore cents for the half year ended June 30, 2021, more than three times the DPU of 0.47 Singapore cents a year ago.
https://www.businesstimes.com.sg/real-estate/sabana-reits-h1-dpu-trebles-to-148-s-cents-to-remove-shariah-compliance-requirement
https://www.straitstimes.com/business/companies-markets/sabana-reit-to-remove-requirement-for-syariah-compliance

Suntec Reit posts 26.1% rise H1 2021 DPU amid resilient office portfolio
Suntec real estate investment trust Suntec Reit: T82U 0% (Reit)’s distribution per unit (DPU) rose 26.1 per cent to 4.154 Singapore cents for the six-month period ended June 30, 2021, up from 3.293 cents for the same period a year ago.
https://www.businesstimes.com.sg/real-estate/suntec-reit-posts-261-rise-h1-2021-dpu-amid-resilient-office-portfolio

Views, Reviews, Forum & Others

Modelling ESG and wellness in the workplace
As developers and organisations start to face the proverbial fork-in-the-road for what might be the post-pandemic role of the return to office “normal”, they are faced with new existential concerns around the safety and wellness of their workforce and those who inhabit the buildings they provide.
https://www.businesstimes.com.sg/opinion/modelling-esg-and-wellness-in-the-workplace

Quiet zones will make Singapore a more appealing global city
The art of soundscaping – using human and natural sounds to create a pleasant urban environment – is the next challenge in city planning. Just as Singapore incorporates greenery into its urban design, it can incorporate sound oases and quiet areas within the city.
https://www.straitstimes.com/opinion/quiet-zones-will-make-singapore-a-more-appealing-global-city

The importance of being Agile
“Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.” This is the first of 12 Agile Manifesto principles published by an eminent group of software developers in 2001. Over the span of 20 years, these Agile principles have led a progressive shift in the way modern software is designed, developed and delivered.
https://www.businesstimes.com.sg/opinion/the-importance-of-being-agile

EU’s climate action plan is one to watch
Last week, the European Commission unveiled a detailed plan to slash dependency on fossil fuels and transform the bloc into a green powerhouse by the middle of this century. The climate plan has been hailed as the most ambitious and sweeping of any major economy.
https://www.straitstimes.com/opinion/st-editorial/eus-climate-action-plan-is-one-to-watch

G-20 ministers struggling to agree on climate deal: Sources
Despite major net-zero commitments from the world’s largest polluters in the past 12 months – and a backdrop of dramatic weather events – two people familiar with the talks said it would be extremely difficult to reach a substantive agreement given the scale of the differences.
https://www.straitstimes.com/world/g-20-ministers-struggling-to-agree-on-climate-deal-sources

Wealth tax ‘may be needed to tackle inequality’ in S’pore
The chief of Singapore’s central bank said there may be a need for a property gains tax or an inheritance tax to address wealth inequality in the Republic, which he noted will worsen over time if price increases in private housing consistently outstrip those in public housing.
https://www.straitstimes.com/singapore/politics/wealth-tax-may-be-needed-to-tackle-inequality-in-spore

Singapore and Pacific Alliance conclude talks on free trade pact
Negotiations have been concluded between Singapore and the Pacific Alliance, a trading bloc of four Latin American nations, on an agreement to collaborate on energy, digital economy, infrastructure and urban solutions, port management and logistics, and other areas.
https://www.straitstimes.com/singapore/singapore-and-pacific-alliance-conclude-talks-on-free-trade-pact

NDP postponed to Aug 21, after curbs end
The National Day Parade (NDP) this year will be postponed to Aug 21, after the end of the latest Covid-19 restrictions, the Ministry of Defence (Mindef) said yesterday. With NDP pushed back, the National Day Rally – originally scheduled for Aug 22 – will now be held on Aug 29, the Prime Minister’s Office said last night.
https://www.straitstimes.com/singapore/ndp-postponed-to-aug-21-after-curbs-end
https://www.businesstimes.com.sg/government-economy/ndp-to-be-postponed-to-aug-21-national-day-rally-will-be-held-on-aug-29

Update on COVID-19 (Coronavirus Disease 2019) Situation

162 new locally transmitted Covid-19 cases, 87 linked to Jurong Fishery Port
[Singapore] There were 162 new locally transmitted coronavirus cases on Thursday (July 22), including 87 cases connected to the growing cluster linked to the Jurong Fishery Port, and markets and food centres. This brings the total number of cases in the Jurong Fishery Port cluster to 538.
https://www.businesstimes.com.sg/government-economy/162-new-locally-transmitted-covid-19-cases-87-linked-to-jurong-fishery-port

Boon Lay Place Food Village to shut till Aug 6 after seven Covid-19 cases found
[Singapore] Boon Lay Place Food Village will be closed after seven Covid-19 cases were detected among people who work in or visited the hawker centre, said the Ministry of Health. The seven cases are linked to the Jurong Fishery Port cluster, which added 87 new cases yesterday and which now has 560 cases.
https://www.businesstimes.com.sg/government-economy/boon-lay-place-food-village-to-shut-till-aug-6-after-seven-covid-19-cases-found
https://www.straitstimes.com/singapore/health/boon-lay-place-food-village-to-shut-till-aug-6-after-7-covid-19-cases-found

Marina Bay Sands casino closed till Aug 5 over Covid-19 cluster
Singapore – The casino at Marina Bay Sands (MBS) is closed till Aug 5 to facilitate deep cleaning, but other outlets in the integrated resort are still open and will operate under prevailing guidelines. They include the shops, hotel and attractions such as the ArtScience Museum, among others.
https://www.straitstimes.com/singapore/marina-bay-sands-casino-closed-till-aug-5-over-covid-19-cluster

F&B and beauty sectors in Singapore adjust to mandatory Covid-19 testing
Singapore – For one food and beverage (F&B) business, mandatory Covid-19 tests for employees, in place since July 15, have become a part of its standard operating procedure, even as dining in is no longer allowed under tightened measures that kicked in on Thursday (July 22).
https://www.straitstimes.com/singapore/fb-and-beauty-sectors-in-singapore-adjust-to-mandatory-covid-19-testing

A slower pace as Singapore re-enters phase of tightened restrictions
The pace of life slowed visibly across Singapore yesterday, as a state of heightened alert spurred by a surge in local Covid-19 cases put the brakes on dining out and other recreational activities. Streets were considerably emptier of traffic while hawker centres and coffee shops lost some of their bustle under the new restrictions that allow only takeaways or deliveries for the next four weeks.
https://www.straitstimes.com/singapore/a-slower-pace-as-singapore-re-enters-phase-of-tightened-restrictions

All quiet at markets, coffee shops, foodcourts, as tighter rules kick in
The usual din was missing at wet markets, hawker centres and coffee shops as tighter Covid-19 safety rules kicked in yesterday. When The Straits Times visited wet markets in Telok Blangah, Geylang Bahru, Amoy Street, Toa Payoh West, Potong Pasir and Tiong Bahru in the morning, many fishmongers had closed their stalls.
https://www.straitstimes.com/singapore/consumer/all-quiet-at-markets-coffee-shops-foodcourts-as-tighter-rules-kick-in

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation