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 Jul 2020 (Wed)

Singapore Real Estate

NEA launches Woodlands site for development of funeral parlour
Singapore’s National Environment Agency (NEA) on Tuesday launched a land parcel at Woodlands Industrial Park E8 for the development of a purpose-built funeral parlour complex. The land parcel, with a site area of 5,002.8 square metres, was launched through the Housing & Development Board (HDB), NEA said in a statement. The tender will close at noon on Nov 5.

Firms apply to house workers on site to resume business faster
While more dorms will be built in the coming months, contrac-tors anxious to resume business have taken the initiative in the meantime to apply to build temporary quarters for their workers on work sites. Some 25,000 bed spaces for such construction temporary quarters (CTQs) have been approved, the Ministry of Manpower (MOM) and Ministry of National Development (MND) said in response to queries from The Straits Times.


Singapore Economy

Singapore’s total employment shrinks by 121,800 in Q2, nearly five times more than Q1
Singapore’s total employment saw its largest quarterly contraction on record in the second quarter of 2020, as the country entered a “circuit-breaker” period to curb the spread of Covid-19, according to preliminary data released by the Ministry of Manpower (MOM) on Wednesday.

S’pore, Sri Lanka explore ways to further deepen trade ties
The Covid-19 pandemic will create opportunities for Singapore and Sri Lanka to deepen trade ties, with agri-business and digitalisation singled out for particular focus during a webinar on Monday. Addressing the webinar, Singapore’s High Commissioner to Sri Lanka, Mr S. Chandra Das, spoke of new opportunities despite the fact that Covid-19 has been “a very tiring period both (for) diplomatic and business cooperation”.

Need to cut red tape more urgent now, says Chee Hong Tat
Helping businesses stay afloat by cutting red tape and regulatory barriers is even more urgent now thanks to the pandemic, said Senior Minister of State for Foreign Affairs and Transport Chee Hong Tat. Mr Chee told an online discussion: “Even before Covid-19, the need to transform our economy to look for new ways of helping businesses reduce regulatory barriers,


Companies’ Brief

Ascott Residence Trust looking at rental housing; DPS down 69% for H1
Ascott Residence Trust (ART) is considering an expansion of its portfolio in the rental housing market as a means of improving its resilience. “(We’re) a bit more selective in the assets we want to acquire, with a longer stay segment in our portfolio . . .

CRCT posts H1 DPU of 3.02 S cents on Covid-19 disruptions
CapitaLand Retail China Trust (CRCT) on Wednesday posted a distribution per unit (DPU) of 3.02 Singapore cents for the half year ended June 30, down 41.4 per cent from the year-ago DPU of 5.13 cents, after capital distribution.

CDL Hospitality Trusts DPS for H1 tumbles 63.7% to 1.51 S cents
CDL Hospitality Trusts’ (CDLHT) distribution per stapled security (DPS) sank 63.7 per cent to 1.51 Singapore cents for the six months ended June 30, 2020 from 4.16 Singapore cents a year ago. Gross revenue was down 44.5 per cent to S$52.1 million for the half year, from S$93.8 million a year ago.

Parkway Life Reit posts 2.5% rise in Q2 DPU to 3.36 Singapore cents
Parkway Life Real Estate Investment Trust’s (Parkway Life Reit) distribution per unit (DPU) rose by 2.5 per cent to 3.36 Singapore cents for its second quarter ended June 30, from 3.27 cents a year ago. Gross revenue was up 4.9 per cent to S$30.3 million for the quarter, from S$28.9 million a year ago.

Starhill Global Reit posts lower DPU due to income retention, distribution deferment
Starhill Global Reit on Tuesday posted a distribution per unit (DPU) of 0.7 Singapore cent for its second half ended June 30, down from the 2.2 cents paid out a year ago. Income to be distributed to unitholders fell 68 per cent to S$15.4 million, after about S$3.8 million of income available for distribution was retained…

UOL obtains S$120m green loan from UOB to redevelop Pan Pacific Orchard
UOL Group has obtained its first green loan – a S$120 million three-year term facility from United Overseas Bank (UOB). Proceeds will be used to partially finance the redevelopment of Pan Pacific Orchard into a lush green 347-room biophilic hotel, the mainboard-listed property developer said in a regulatory update on Wednesday.


Views, Reviews, Forum & Others

Aim is to keep capabilities in sectors like travel, transport intact: PM Lee Hsien Loong
Singapore is likely to see negative economic growth of minus 3 per cent or 4 per cent, or more, this year as a result of the two-month circuit breaker and ongoing Covid-19 pandemic, Prime Minister Lee Hsien Loong said yesterday.

Hello from the other side – Asia’s bigger structural challenges unmasked
As Economies reopen, one of the key debates is the type of cyclical and structural changes we will see as a result of Covid-19 and, more importantly, how these changes will influence Asia’s medium-term outlook and reset the relative growth stories in the region.

Covid-19 has made crypto hot again
If you had bought a bitcoin on March 17, when Covid-19 was roiling financial markets, you would have more than doubled your money by July 27, when the value of bitcoin soared past US$10,000. Some other crypto assets such as Ethereum, Ripple and Monero have also been on a tear.

SMEs appear ill-prepared for greater risks of cyberattacks as online workforce rises
Small and medium-sized enterprises face greater risks of cyber attacks and data breaches than they realise, as more of their employees work from home during the pandemic. Cybersecurity firm Trend Micro told The Business Times that in Singapore, it had blocked 23,000 phishing e-mails and almost 12,000 malicious URLs related to Covid-19 in the first half of the year.

Close to 10% of Singapore mortgages, or over S$15b, under debt moratorium
The three local banks in Singapore are estimated to have granted payment deferments to more than S$15 billion worth of mortgages as at the end of June this year, or almost 10 per cent of all outstanding mortgages.

A Cabinet for a new, evolving landscape
The Cabinet that Prime Minister Lee Hsien Loong announced last Saturday seeks to balance continuity, provided by his senior colleagues; exposure for younger ministers through a change of portfolios for some; and leadership renewal.


Update on COVID-19 (Coronavirus Disease 2019) Situation

8-year-old girl among 2 imported cases; 1 new infection in community
An eight-year-old American girl was among two imported coronavirus patients announced by the Ministry of Health yesterday. The dependant’s pass holder tested positive on Monday.The other imported patient, a 39-year-old male work pass holder, tested positive on Sunday. He is an Indian national employed here.
*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

UK house prices seen growing as much as 3% for rest of 2020

US hotels promoting the nostalgia of the family road trip

UPDATE 1-Japan to forecast real GDP will shrink around 4.5% in FY2020 – Nikkei

Investors lead the rush back into India’s offices

Thai tourist arrivals slump 66% y-o-y in Jan-June amid pandemic


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article 

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