S’pore ranked world’s most liveable location for Asian expats for 17th year
The Republic remains the most liveable location in the world for Asian expatriates for the 17th year running, based on a survey by consulting firm ECA International. Singapore was placed ahead of Adelaide, Sydney, and Osaka which were in joint second position, and Brisbane and Wellington which were tied in third place. Hong Kong, which is traditionally seen as a rival to Singapore as a financial hub, slipped one spot to 15th position in the Asia-Pacific ranking.
Singapore Real Estate
Consultants see good interest in ‘palatable’ Sembawang site
A public tender for a 0.7-hectare residential site at Jalan Kandis in Sembawang was launched by the Urban Redevelopment Authority on Thursday. Consultants expect the small site to generate good interest among developers, given that it would not require a huge capital outlay.
Keppel Land sells two property companies in Sri Lanka, Vietnam
Keppel Land has in recent weeks divested its stakes in two property companies in Sri Lanka and Vietnam.
The property arm of diversified marine conglomerate, Keppel Corp, said the sales were part of a continual focus to strengthen its presence in its core markets and growth cities, as well as an effort to recycle assets for higher returns.
Second-timers dominate demand for Bidadari units
The latest Build-To-Order (BTO) exercise has picked up where the previous one left off: Just a day after the exercise got underway, five-room and multi-generation flats in Bidadari were already highly oversubscribed, with demand fuelled by second-time applicants.
CDL to launch third PPS this year
City Developments Limited (CDL) is looking to launch a third profit participation securities (PPS) structure this year, as this innovative financial vehicle becomes a “permanent feature” of its fund-management strategy. The group also announced on Thursday that it was on track to achieve its target of S$5 billion in assets under management (AUM) by 2018.
CDL Q4 profit buoyed by asset monetisation
City Developments Limited (CDL) posted a record net profit of S$410.5 million for the fourth quarter ended Dec 31, 2015, beating the year-ago record by 6.6 per cent. This was fuelled by gains from monetising its prime office assets 7 & 9 Tampines Grande, Manulife Centre and Central Mall (Office Tower) through a financial instrument called Profit Participation Securities (PPS) in December 2015 and maiden contribution from the sale of Emerald House in Croydon, UK.
CMT issues S$100m in 10-year debt at 3.5%
The manager of CapitaLand Mall Trust (CMT) on Thursday said CMT has issued S$100 million in 10-year fixed rate notes at a rate of 3.5 per cent per annum to institutional and accredited investors. Funds from the debt issue will be used to refinance existing borrowings. The notes will be listed and quoted on the Singapore Exchange from 9am on Feb 26, 2016. The notes are due Feb 25, 2026.
Banyan Tree records worst full-year loss ever
Resort group Banyan Tree, hit by what its chief said was a “perfect storm”, turned in its worst full-year loss in its history last year. Q415 found it in the red, with an S$18.36 million loss, a reversal from a profit of S$4.13 million a year ago.
Ho Bee’s profit drop masks strong rental income growth
Ho Bee Land posted lower net earnings for the fourth quarter and full year – due to lower fair-value gains on investment properties and an impairment loss on the group’s stake in the completed Cape Royale condo on Sentosa. What was more important perhaps is the significant rise in rental revenue the group achieved – from properties like The Metropolis in Singapore and a string of office blocks it has bought in London.
Lian Beng to buy Broadway Plaza in Ang Mo Kio for S$51.5m
Construction group Lian Beng has inked a deal to buy Broadway Plaza in Ang Mo Kio for S$51.5 million, it said in a Singapore Exchange filing on Thursday. Broadway Plaza is a leasehold 5-storey commercial property in Ang Mo Kio Central facing Ang Mo Kio Avenue 6.
Going all out to serve and keep customers
http://epaper.businesstimes.com.sg/jr/jrpc.php?date=2016-02-26&page=1&ed=1 (Pg 18)
Views, Reviews & Forum
Property curbs could be lifted this year: CDL’s Kwek Leng Beng
The sustained decline in residential prices here – now mired in their longest losing streak in 17 years – may prompt the Government to lift some property curbs this year, said City Developments (CDL) executive chairman Kwek Leng Beng.
Tax moves to boost the S-Reit market
With only one successful Reit (real estate investment trust) listing in Singapore in 2015 despite the pipeline of Reit aspirants, it is quite evident that the spectre of rising interest rates, stockmarket volatility, slowing global trade and sluggish economic growth have dampened the Singapore real estate investment trust (S-Reit) market. As economic fundamentals appear to remain weak – if not worsen – and continued uncertainty as to when recovery in growth is expected, what more can Singapore do to boost the S-Reit market?
ECs: Gaining value over the long term
Demand for Executive Condominiums (EC) has slowed sharply in the past two years, following the introduction of cooling measures by the Government. Demand for the hybrid housing type was red hot in 2012 to 2013, when 14 out of 16 new EC projects were at least 33 per cent sold within the first month of their launches. To cool the EC market, the Government implemented measures in late 2013, including a 30 per cent Mortgage Service Ratio (MSR) and a resale levy for second-time buyers.
What happened to CPF Building sale proceeds?
It was reported recently that the Central Provident Fund (CPF) Building was sold for $550 million.
ST reader Gurdip Singh asked ST: “As this building was probably built using CPF members’ money, do we know what will happen to the sales proceeds and who will benefit from all the capital gains from the sale of the building ?
Global Economy & Global Real Estate
Mansion sales and discount dining: oil rout hits Houston’s rich
UK economy at risk from high property prices, EU referendum: IMF
Airbnb removed 622 hosts in NY City before public scrutiny
US home prices rose 5.8% in fourth quarter from prior year
Hong Kong to price land sales to market, official says
Guangzhou’s ‘last urban villagers’ fight for a fair shot
China Everbright to Buy Prime Hong Kong Tower for HK$10 Billion
Hong Kong Is Most Expensive Office Market: Chart
Homebuyers in Pricey Markets Are Now Scared to Dream
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