The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 28th February 2019

Singapore Real Estate

Developers re-issuing options amid cooling market, launch bonanza
Developers reported that they sold 602 private housing units in December – but the figure has turned out to be distorted because options for two-thirds of them were not exercised by the expiry date.  Lapsed options or “returned units” may be gaining pace following the July cooling measures and new launches begin to pile up, some market players say.

Kampong Bahru Road shophouses up for sale
A pair of freehold two-storey conservation shophouses at 69 and 71 Kampong Bahru Road is up for sale.  The shophouses, which come with attics, occupy a land area of 2,343 square feet and have an estimated gross floor area of 5,947 sq ft.  It is zoned “commercial” under the Urban Redevelopment Authority’s 2014 Master Plan, which means foreigners are eligible to buy the property.


Singapore Economy

Growth in service sector revenue eases to 4.1% in Q4
The service industries saw more takings in the last quarter of 2018, although growth was slower than before, according to data from the Department of Statistics (SingStat) yesterday.  Overall services’ business receipts were 4.1 per cent higher than in the same period the year before, but eased from third-quarter revenue growth, which was revised downwards to 7.2 per cent.


Companies’ Brief

CapitaLand closes real estate debt fund with 75% of capital raised
CapitaLand has announced the first closing of the group’s first discretionary real estate debt fund, with a target capital raise of US$750 million.  The property developer has raised over 70 per cent of the capital, or US$556 million for the fund’s first closing, with subsequent commitments from major institutional investors expected later this year, it said.

Banyan Tree Q4 profit up 44% on higher property sales, one-offs
Resort operator Banyan Tree Holdings’ fourth-quarter net profit rose 44 per cent to $5.6 million as better property sales and one-off disposal gains offset a weaker hotel segment, the company announced on Wednesday evening (Feb 27).  Earnings per share rose to 0.67 cent for the three months ended Dec 31, 2018, from 0.49 cent a year ago. The company is declaring a final cash dividend of 1.05 cent per share for the year. Banyan Tree shares closed at 59.5 cents on Wednesday before the results were announced.

Cromwell E-Reit posts 13-month DPU below forecast at 4.1 euro cents
Cromwell European Real Estate Investment Trust’s (Cromwell E-Reit) distribution per unit (DPU) for the 13 months to Dec 31, 2018 was 4.10 euro cents, lower than its forecast of 4.64 euro cents.  Excluding a rights issue in late 2018 that enlarged its unitholder base, the DPU would have been 4.70 euro cents, 1.4 per cent higher than projected.


Global Economy & Global Real Estate

US pending home sales increase 4.6% in January

Tax cuts should boost India real estate demand, but problems persist

Surprising slide in 4Q construction spending in Australia

Short-term rental platforms move to enforce rental caps in France

Restoring an avenue in Paris meant for kings


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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