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 Jan 2020

Singapore Real Estate

Tuas South Link industrial site up for application: JTC
JTC on Tuesday said it is accepting applications for a reserve list site at Tuas South Link 3. The land parcel is the second of five reserve list sites under the first half of the 2020 industrial government land sales programme.  The site, with a 20-year tenure, has an area of 0.45 hectare and a gross plot ratio of 1.4. It is zoned “B2” for industrial purposes.


Singapore Economy

Sars-era injection may be what the doctor orders
Economy watchers are holding up Singapore’s S$230 million Sars (Severe acute respiratory syndrome) relief package of 2003 as a guide on what to prescribe for ailing businesses, as tourism-related sectors stare down the mystery killer virus from Wuhan.  “We could be looking at something of that size if the crisis isn’t contained soon,” Anwita Basu, head of the Asia country risk research team at Fitch Solutions, told The Business Times.

More help for seniors to lead active lives: Indranee
Budget 2020 will see the government offering more incentives to encourage voluntary work, along with the rollout of measures to take care of retirees and allow them to continue living a fulfilling life, according to Minister in the Prime Minister’s Office Indranee Rajah.  “We will certainly have something in the Budget to promote volunteerism across the board, but also looking at what we can do for seniors,” she told reporters at the end of a visit to RSVP Singapore on Tuesday.


Companies’ Brief

CapitaLand closes 6 malls in China; shorter hours at remaining 45
CapitaLand has closed six malls in China – four in Wuhan and two in Xian – as required by local governments following the outbreak of the Wuhan virus, the property giant said on Wednesday.  The supermarkets in CapitaMall Westgate in Wuhan and CapitaMall Xindicheng in Xian remain open to ensure the supply of food and daily essentials to local communities, CapitaLand added in its bourse filing.

Sasseur Reit drops 10.3% after closures at China malls to guard against virus
Units of Sasseur Real Estate Investment Trust (Sasseur Reit) units sank on Tuesday after its manager announced that it has temporarily closed the trust’s four outlet malls in China.  The counter ended at 78.5 Singapore cents, down 9 cents or 10.3 per cent, after some 13.5 million units changed hands. Prior to market close, the units had sunk 10 cents or 11.4 per cent to an intra-day low of 77.5 cents at around 9.16am.

Dasin Retail Trust shortens hours, shuts businesses at China malls
Dasin Retail Trust has taken precautions in view of the coronavirus outbreak, including shortening the business hours at its five malls in China.  It has also temporarily closed crowded places in the malls, such as cinemas, karaoke lounges, ice skating rinks and bookstores.

Elite Commercial Reit prices units at £0.68 or S$1.21 each
Elite Commercial Reit braved the choppy market to launch its initial public offering (IPO) on Tuesday, pricing its units at £0.68 or S$1.21 per unit, which will translate to a forecast distribution yield of 7.1 per cent for 2020 and 7.2 per cent for 2022.  This is the first pound-denominated Reit listing in Singapore in what could pave the way for more UK-focused Reits to list here, including new asset classes such as student accommodation.

Singapore-listed companies with China exposure feel the heat
The shares of Singapore-listed companies with exposure to China were hit on Tuesday, as the Wuhan virus outbreak continued to escalate.  Of all Singapore companies with a market capitalisation of S$100 million and above, 45 have at least 20 per cent of annual revenues coming from China, going by data obtained from the Singapore Exchange’s (SGX) research team. Of these, 36 stocks registered declines amid the general market fall on Tuesday.


Global Economy & Global Real Estate

US new home sales fall unexpectedly in December

New York apartment building sales plunge

UK banks approve most mortgages since 2015

Australia inflation edges up but still below target

South Korea’s Jan exports seen falling faster on Lunar New Year, coronavirus to add strains: poll

Ukraine’s richest man buys French villa for 200m euros


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Local & Overseas Real Estate – Full Article

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