The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 29 January 2016

Singapore Real Estate

Further downside seen for industrial occupancy, rents, prices
The supply of industrial space this year and the next is expected to exert further downward pressures on occupancy rates, JTC said on Thursday as it released data showing a continual slide in industrial prices and rents in the fourth quarter of last year. While it stressed “the wide options available for industrialists planning to expand their operations”, consultants reckoned that such business expansion may not be forthcoming in current economic conditions and hence, rents and prices of industrial space may dip further.

Prices of completed condos down 0.4% in Dec
The drop in prices of completed private apartments was slower last year than in 2014 , according to new flash estimates out yesterday. The overall NUS Singapore Residential Price Index (SRPI) eased an estimated 0.4 per cent last month, taking the full year fall to 3.3 per cent, compared with a heftier 5 per cent slide in 2014.

Small completed apartments worst price performer in 2015
Prices of completed small condo units and apartments have gone from being the most resilient segment in an NUS price index during 2013 and 2014 to being the worst performer last year. Based on the latest flash estimates for December 2015 from the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI) series, the sub-index for small units of up to 506 square feet islandwide slipped 4.3 per cent last year.

Massive fire put out at Toa Payoh Industrial Park


Companies’ Brief

CDL Hospitality Trusts eyes Europe for more acquisitions
CDL Hospitality Trusts, whose most recently acquired properties in Tokyo and Cambridge helped to mitigate lower income from its other properties in the fourth quarter, is on the lookout for more hotels in city centres in the United Kingdom, Holland, Germany, Spain and Ireland.

Fair-value gains boost Yoma’s Q3 earnings to S$25.2m; revenue falls 5%
Lifted by fair-value gains, real estate player Yoma Strategic Holdings on Thursday reported a net profit of S$25.16 million for the third quarter ended Dec 31, 2015, up from S$7.80 million a year ago. The bottom line was boosted by other gains of S$30.42 million, compared with only S$3.93 million a year ago.

Starhill Global Reit
For Q2 FY16, the Reit’s gearing level remained healthy at 35.7 per cent, with no significant debt refinancing requirement kicking in until 2018. The Reit’s overall occupancy remained high at 98 per cent, while its Singapore assets are almost fully occupied.

FHT’s Q1 DPS gets a lift from Sofitel Sydney
Frasers Hospitality Trust (FHT) reported a distribution per stapled security (DPS) of 1.72 cents for the first quarter ended Dec 31, 2015, bolstered by full contribution from Sofitel Sydney Wentworth which was acquired in July 2015. This represented a 7.5 per cent increase from an estimated DPS of 1.6 cents for the same period last year based on a pro-rata basis for comparative purpose. FHT had reported its financials for an actual 171-day period from July 14 to Dec 31, 2014.

Ascendas Hospitality Trust Q3 DPS up despite fall in revenue
Ascendas Hospitality Trust on Thursday reported a distribution per stapled security (DPS) of 1.45 Singapore cents for the third quarter ended Dec 31, 2015 (Q3 FY2016). This was up from 1.3 cents in the corresponding period a year earlier. Gross revenue slid 9.5 per cent year-on-year to S$54.9 million, while net property income dropped 9.3 per cent to S$23.4 million.

AIMS AMP Reit’s Q3 DPU up 0.7% at 2.85 cents
AIMS AMP Capital Industrial Reit (AA Reit) on Thursday reported a distribution per unit (DPU) of 2.85 Singapore cents for Q3 FY2016 ended Dec 31, 2015. This was up 0.7 per cent from 2.83 cents in the corresponding quarter a year ago. Gross revenue rose 9.5 per cent to S$32.55 million while net property income edged up 2.7 per cent to S$21.06 million. Distribution to unitholders stood at S$18.11 million, or 2.2 per cent higher.

Tuan Sing’s Q4 earnings drop 41% to $14.4m
Net profit fell at Tuan Sing Holdings in the fourth quarter due to a reassessment of some of its properties. It booked fair value losses from its non-hotel investment properties in Perth, Australia, and made an allowance for diminution in value of its development properties here.


Views, Reviews & Forum

Real estate crowdfunding: Invest a little, diversify a lot
The confluence of changing consumer behaviour, rapid advancement of the Internet and mobile technology has caused major disruptions in the consumption of goods and services. Innovative disruptions such as Uber for taxi bookings and car sharing and Airbnb for accommodation have torn down many barriers for entering the hospitality industry. Both Uber and Airbnb own no assets but have created billion-dollar companies through solving consumers’ pain points


Global Economy & Global Real Estate

Philippine developer not keen to buy China property assets yet

Hamptons home prices hit new high as buyers grab US$5m properties

China’s Wanda says it’s reassessing plans for Madrid project

Sweden’s mortgage lender mulls over further loan curbs

Mitsubishi Estate raises 250b yen in biggest bond sale this year

Mortgages offer silver lining for India’s banks as business loans ebb

HK’s Hang Lung may not release any units this year as prices dip

Hotel Lotte to list in largest Korea IPO since 2010

Japan’s Inflation Is Still Near Zero Ahead of BOJ Decision Today

Pending Sales of Existing Homes in U.S. Rise Less Than Forecast

FelCor Jumps as Litt Seeks Sale of Hotels or Whole Company

Japan’s `Quiet Property Bubble’ Is Coming to an End

Global Economy & Global Real Estate 4 London Home Presales Drop 19% as Sales Taxes Damp Demand

Blackstone Fourth-Quarter Profit Falls 70% on Volatility

Manhattan Developer Ices Plans for Central Park Luxury Condos


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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