The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 21th, 22th and 23th Sep 2019

Singapore Real Estate

Chinese demand drives Singapore luxe apartments to hit 11-year high
Sales of Singapore apartments worth at least S$10 million have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets, say property consultants OrangeTee & Tie.  Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed South-east Asian neighbours, as well as multi-millionaires from mainland China.

1st phase of Sentosa-Brani Master Plan to be completed by 2022
Construction will start by year-end on the long-awaited redevelopment of resort island Sentosa and nearby Pulau Brani, in a blueprint unveiled by national planners on Friday.  The Sentosa-Brani Master Plan will be rolled out in phases over the next two to three decades, Quek Swee Kuan, chief executive of government agency Sentosa Development Corp (SDC), told a briefing.

New vertical ‘kampung’ to be built with flats for elderly
A vertical “kampung”, with flats for the elderly and facilities such as a polyclinic and a dialysis centre, will be built in the north-western part of the island.  To be completed in the second half of 2026, it will be located next to Yew Tee MRT station, said Minister for National Development Lawrence Wong yesterday.

HDB more flexible on criteria for securing public rental flats
The Housing Board has become more flexible on the eligibility criteria for those wishing to rent its flats under the Public Rental Scheme.  The criteria, listed on its website, no longer state that there is an “income ceiling” which stipulates that an applicant’s total household gross income must not exceed $1,500 per month.


Singapore Economy

Singapore may fare worse than Asean peers in the next global crash
South-East Asia is more vulnerable to a downturn than it was during the last global financial crisis, Bain & Co warned in a report out on Friday.  But Singapore’s economy, historically, falls more sharply in a slump, partner Thomas Olsen told The Business Times.


Companies’ Brief

CapitaLand gains big canvas for Singapore redevelopments from ASB purchase
Some folks may think that CapitaLand does not have many Singapore residential developments coming up – with only two projects currently.  However, the property group has a much larger canvas for creating development opportunities at home in various asset classes, beyond residential, after its S$11 billion acquisition of Ascendas-Singbridge (ASB) this year.

Chip Eng Seng mulling purchase of local construction firm
Mainboard-listed Chip Eng Seng is in discussions to fully acquire a local construction company that is privately held, the property and construction group announced in a bourse filing on Friday after market close.  Chip Eng Seng’s board believes that the acquisition will strengthen the company’s construction business, with “a good opportunity for horizontal integration” amid the competitive landscape for…

Broker’s take: CGS-CIMB says Boustead could launch a Reit in 2020
Boustead Singapore’s industrial real estate unit, Boustead Projects, could be on track for a Reit listing in as early as 2020, as existing projects under development bring its leasehold portfolio asset base to S$1 billion by next year, according to CGS-CIMB.  “With the help of higher occupancy rate after the completion of the ALICE asset (ALICE@Mediapolis) stabilisation, we think a Reit listing could materialise as early as calendar… shows support for inclusivity with diversity-friendly tag for property listings
Singapore property search portal has launched a new tag on its platform, in an initiative to fight housing discrimination against the LGBTQ (lesbian, gay, bisexual, transgender and queer) community.  The “Diversity Friendly” tag is an optional feature for property owners and agents to declare their support for inclusion and diversity when creating listings on the online portal, told The Business Times (BT) on…

Motorola extends lease at Cromwell E-Reit’s Poland property
Cromwell European Real Estate Investment Trust (Cromwell E-Reit) on Friday announced that the lease with Motorola Solutions at its Polish property, Green Office, has been extended for another five years to 2026/2027.  The freehold, predominantly office property is located in Krakow, Poland, with 22,954 square metres of net lettable floor area. In June, Cromwell E-Reit’s manager said that Green Office was fully let to…


Views, Reviews, Forum & Others

Towards gender diversity in the boardroom
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)

To increase women representation in the corporate world is a big challenge but not insurmountable. It requires a change in the stereotyped mindset to move the needle more significantly.  Concerted efforts by various interest groups such as women’s organisations, SID, Council for Board Diversity and companies, etc, must be directed to first change how boards perceive the importance of diversity and transform the way…

Back to square one? Why are “asset-light” players in the sharing economy buying up property and cars?
Four years ago, an advertising and public relations executive penned these words about four up-and-coming companies: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is…

Real estate may be yielding less than you thought
Income is an important part of real estate returns, meaning yields are often heavily scrutinised by investors. But headline yields often do not factor in capital expenditure (capex) requirements.
Variables such as age, location and property type can influence how much capex is required to operate an asset.

South-east Asian data centres poised for fast growth
South-east Asia will be the fastest-growing region for co-location data centres in the next five years, with its market size expanding at a compound annual growth rate (CAGR) of 13 per cent between this year and 2024.  The uptrend is underpinned by the rapid pace of digitalisation and surge in demand for cloud-based services across the region, which prompted giant companies such as Google, Alibaba Group and Amazon…

Criterion for new HDB grants
The applicable housing grants are determined at the point of application for a flat (Qualifying for new HDB grants, by Mr Yeo Shuan Chee, Sept 13).  As changes to government schemes are not applied retrospectively, the Enhanced CPF Housing Grant will apply only to new flat applications from Sept 11.


Global Economy & Global Real Estate

US existing-home sales rise to highest in over a year

One in 4 New York’s new luxury apartments is unsold

Airbnb says it plans to go public in 2020

Fed’s Rosengren warns co-working spaces may be creating financial risk

Casino operator MGM in talks to sell Las Vegas property to former Trump partner

China needs to change the way it finances economy: think-tank

China cuts new loan rate for 2nd month but struggling economy likely needs more

Japan consumer inflation cools to 2-year low in blow to BOJ

Risks to Australia’s financial stability from housing has “abated somewhat”: regulators

Malaysia’s Budget 2020 might see SME support, infrastructure spending

Johor may cut RM1m threshold for foreigners to buy homes

Hi-tech mapping has good intentions for land rights but can backfire

Blackstone Reit’s success lures global funds to India

Giant art project transforms East German housing blocks


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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