DAILY NEWS

Daily News – 25th & 26th December 2018

Top Story

Private rental market may be held up by en bloc sellers, lower supply
The outlook for the private residential leasing market looks promising in 2019, with rent and occupancy rates likely to improve as supply eases and demand continues to be supported by displaced owners. According to data from the Urban Redevelopment Authority (URA), a total of 10,119 private residential units are slated for completion in 2019, higher than the 7,898 units that could be completed this year.
https://www.businesstimes.com.sg/real-estate/private-rental-market-may-be-held-up-by-en-bloc-sellers-lower-supply

Singapore goes underground to boost land use
From its towering “supertree” vertical gardens to a Formula 1 night race, Singapore is known for many attractions. Underground space, however, is not one of them. But that may soon change, as the city-state prepares to unveil an Underground Master Plan in 2019. With some 5.6 million people in an area three-fifths the size of New York City – and with the population estimated to grow to 6.9 million by 2030 – the island nation is fast running out of space.
https://www.businesstimes.com.sg/government-economy/singapore-goes-underground-to-boost-land-use

Singapore Economy

Core, headline inflation down in November, below economist estimates
Singapore saw both core and headline inflation easing year-on-year in November, according to the Department of Statistics consumer price index (CPI) release on Monday.
https://www.businesstimes.com.sg/infographics/core-headline-inflation-down-in-november-below-economist-estimates
https://www.straitstimes.com/business/singapores-overall-core-inflation-both-ease-in-november

Companies’ Brief

Cromwell Reit forking out 21.6m euros for 3 Paris properties
Cromwell European Reit (E-Reit) is buying three freehold logistics properties in France for 21.6 million euros (S$33.75 million) to gain exposure to the Greater Paris logistics market, said the manager in exchange filings on Monday. Under the terms of the deal, Cromwell E-Reit will buy from CDPG Luxembourg all of the shares in Challenger DPG France SAS, which holds all three properties. The purchase consideration includes a 1.7 million euro cash injection into the target company for working capital.
https://www.businesstimes.com.sg/companies-markets/cromwell-reit-forking-out-216m-euros-for-3-paris-properties

Michael Kum becomes Atlantic Navigation chairman after takeover
Offshore chartering and property businessman Michael Kum has become the non-executive chairman of Atlantic Navigation Holdings following his takeover of the company, according to filings with the Singapore Exchange (SGX) on Monday.
https://www.businesstimes.com.sg/companies-markets/michael-kum-becomes-atlantic-navigation-chairman-after-takeover
https://www.straitstimes.com/business/companies-markets/hotel-magnate-michael-kum-is-new-atlantic-navigation-chairman