The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 26th July 2019

Singapore Real Estate

China, HK developers temper their bids in Singapore land tenders
China and Hong Kong developers – once fingered for pushing up property prices with aggressive bids in land tenders here – are no longer the top bidders these days.  Though still active in tenders, they have not had much success in both state and private housing site tenders since the first half of last year.

External factors cast long shadow over industrial property rentals
The Singapore industrial property market continued to be stable in Q2, based on the latest data from industrial land and infrastructure agency JTC Corp, but analysts are cautious about the outlook, citing external headwinds.  The negative sentiment overshadowed the first quarter-on-quarter uptick in four years in JTC’s rental index for overall industrial property in Singapore:

Private property resale transactions down 50% while sales of new units jump: Huttons
Singapore — While sales of new private homes rose in the second quarter from the same time last year, the private property resale market remained in the doldrums, real estate firm Huttons said in a report on Wednesday (July 24).  Between April and June, there were about 2,400 resale transactions, down 50 per cent from the same period a year ago, it said.


Companies’ Brief

MCT posts 3.6% rise in Q1 DPU on higher gross revenue, NPI
Mapletree Commercial Trust (MCT) on Thursday posted a 3.6 per cent year-on-year increase in distribution per unit (DPU) to 2.31 Singapore cents for the first quarter ended June 30 as it chalked up higher gross revenue and net property income (NPI).  Gross revenue edged up 3.3 per cent year-on-year to S$112.13 million on the back of higher contributions from all properties except Mapletree Anson.

Ascendas India Trust Q1 DPU rises 28% to S$0.0205
Ascendas India Trust on Thursday posted a 28 per cent jump in distribution per unit (DPU) for the first quarter ended June 30.  DPU rose to 2.05 Singapore cents, while net property income (NPI) increased 13 per cent to S$37.8 million and income available for distribution increased 29 per cent to S$23.7 million.

SingHaiyi posts net loss of S$8.2m, 84% slump in revenue for Q1
Property developer SingHaiyi Group on Thursday posted a net loss of S$8.2 million for the first quarter ended June 30, compared to a profit of S$1.2 million a year ago.  Revenue plunged 84 per cent to S$4.2 million from S$26 million in Q1 of the previous year, mainly due to lower revenue recognised for SingHaiyi’s completed private condominium project City Suites.

Sabana Reit cuts Q2 DPU by 24% as revenue, net property income fall
Loss of income from a recently divested property, absence of a one-time recovery of costs for another property, as well as lower revenue and net property income (NPI) dampened results for Sabana Reit for its second quarter.  Distribution per unit (DPU) for the quarter ended June 30 shrank 24.4 per cent to 0.62 Singapore cent from 0.82 cent in the previous year.


Global Economy & Global Real Estate

Federal Reserve expected to cut rates for first time in a decade this month: Poll

US economic growth seen stumbling as trade weighs on business

Business equipment orders jump by most since early 2018

US housing sector mired in weakness despite sales rebound

Home is where the cork is: UK designers present recyclable house

HK residents scouting for properties in Canada and  UK

HK home prices weaken briefly after protests

Scandal-hit Future Land to sell project interests worth up to 15b yuan

ECB puts inflation target in focus


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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