DAILY NEWS

Daily News – 24th January 2019

Singapore Real Estate

Hotel projects capturing interest of investors, developers
Ibis Singapore Novena, currently owned by Alpha Investment Partners, is understood to be on the market for an asking price of some S$240 million – underscoring the rising interest in hotel developments from developers and investors here. Alpha Investment Partners, the private fund management arm of Keppel Capital Holdings, had scooped up the 241-room business hotel in 2013 from the Kum family for S$150 million through the Alpha Asia Macro Trends Fund (AAMTF) II.
https://www.businesstimes.com.sg/real-estate/hotel-projects-capturing-interest-of-investors-developers

Yongnam CEO selling Binjai Park GCB for S$40m
Yongnam Holdings CEO Seow Soon Yong is selling his good class bungalow (GCB) in the Binjai Park enclave with a guide price of $40 million in a public tender launched on Wednesday. The price tag, which works out to S$1,464 per square foot on a land area of 27,320 sq ft “will certainly pique buyers’ interest”, said Sammi Lim, director of capital markets at marketing agent CBRE.
https://www.businesstimes.com.sg/real-estate/yongnam-ceo-selling-binjai-park-gcb-for-s40m
https://www.straitstimes.com/business/property/freehold-good-class-bungalow-at-binjai-park-up-for-sale-at-40m

Singapore Economy

Singapore inflation picks up in Dec; prices expected to rise faster in 2019
Singapore saw both its headline and core inflation pick up modestly in December, according to the latest Department of Statistics consumer price index (CPI) released on Wednesday. Meanwhile, core inflation ticked up to 1.7 per cent for the full year, up from 1.5 per cent in 2017.
https://www.businesstimes.com.sg/infographics/singapore-inflation-picks-up-in-dec-prices-expected-to-rise-faster-in-2019
https://www.straitstimes.com/business/economy/spores-dec-inflation-higher-than-analysts-projections

Companies’ Brief

CapitaLand Mall Trust DPU up 3.1% to S$0.0299 for Q4
CapitaLand Mall Trust (CMT) will pay a higher distribution per unit (DPU) for the fourth quarter, as revenue rose on a consolidated stake in Westgate. DPU for the quarter ended Dec 31 was 2.99 Singapore cents, against 2.9 Singapore cents for the year-ago period, according to full-year financial results released on Wednesday morning.
https://www.businesstimes.com.sg/companies-markets/capitaland-mall-trust-dpu-up-31-to-s00299-for-q4
https://www.straitstimes.com/business/capitaland-mall-trust-dpu-up-31-to-299-cents-for-q4

Suntec Reit’s Q4 DPU dips to 2.59 S cents on enlarged unit base
Suntec Real Estate Investment Trust (Suntec Reit)’s fourth-quarter distribution per unit (DPU) has dipped on an enlarged unit base, thanks to manager fees. The trust will pay out a DPU of 2.59 Singapore cents for the three months to Dec 31, 2018, against 2.604 Singapore cents in the same period a year ago, the manager said on Wednesday morning. New units had been issued as partial satisfaction of asset management fees.
https://www.businesstimes.com.sg/companies-markets/suntec-reits-q4-dpu-dips-to-259-s-cents-on-enlarged-unit-base

VIEWS, REVIEWS, FORUM & Others

A greener Singapore: Proptech, tax incentives crucial
Much has been said about environmental sustainability, with banning drinking straws just the latest hot topic. But much less attention has been paid to the role real estate plays in driving the sustainability of a country, one which is aligned with the government’s vision of a smart nation in which citizens live meaningful and fulfilled lives, enabled seamlessly by green technology.
https://www.businesstimes.com.sg/opinion/a-greener-singapore-proptech-tax-incentives-crucial

Building smart for the future
Australia and Singapore, both developed countries, share many similarities and opportunities for collaboration to develop and advance the built environment sector, as new challenges arise from global economic and social change. “In many ways, the challenges facing our economies, and those of the region are ones that need the best built environment solutions,” says Australian High Commissioner Bruce Gosper.
https://www.businesstimes.com.sg/hub/australia-day/building-smart-for-the-future