The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News 29th November 2018

Singapore Real Estate

Singapore’s real estate investment market is No 2 in Asia-Pac: report
Singapore’s real estate investment market has been ranked second in the Asia Pacific region in a real estate forecast jointly published by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC). This is due to a large number of major office deals in the last 12 months, with domestic investors being the biggest buyers, ULI and PwC said in a joint statement on Wednesday.

Completed condo, private apartment prices fall 0.6% in Oct
Prices of completed private apartments and condominiums in Singapore fell further by 0.6 per cent in October from the previous month, accelerating from a 0.2 per cent month-on-month decline in September. This is according to the National University of Singapore’s flash estimates released on Wednesday for its Singapore Residential Price Index (SRPI), which tracks prices of completed non-landed private homes.

King Albert Park strata mall to house cinema, more shops
Faced with promised anchor tenants that did not show up, falling retail rents and low occupancy, owners at the mall where McDonald’s Place at King Albert Park once stood have taken matters into their own hands. Current owner and tenant EagleWings Group will expand its footprint in the strata mall come December by opening a cinema called EagleWings Cinematics which boasts 153 seats, including a premium lounge with butler service and a fashion store called JoMaChi.

Beauty World Plaza owners launch redevelopment site for tender
The owners of the Beauty World Plaza retail and residential building are putting up the redevelopment site for tender with a reserve price of S$165 million, agent Knight Frank Singapore announced on Wednesday. The tender for Beauty World Plaza will close on Jan 30, 2019, at 3pm.

Bukit Panjang property up for collective sale for S$42m
A row of apartments with commercial shops in Phoenix Road, Bukit Panjang, will be put up for collective sale via public tender on Thursday for S$42 million, marking the first time that the owners are embarking on an en bloc sale.

Pod Structures launches modular made-in-Singapore homes for multiple markets
Modular house builder Pod Structures announced the launch of its MOVIT brand of bespoke homes at an event on Wednesday. It catches onto a growing trend of city dwellers around the world with a preference for a hassle-free lifestyle. Pod Structures chief executive officer Samuel Vedanaigam said he has seen a 20 per cent jump in the number of clients compared to five years ago.


Companies’ Brief

Ascendas Hospitality Trust to buy Ibis Ambassador Seoul for 77.5 billion won
Ascendas Hospitality Trust is set to acquire another hotel property in South Korea for 77.5 billion won (S$94.5 million). The manager of the trust said after Wednesday’s trading close that it has entered into an agreement with The Korean Teachers’ Credit Union and KT&G Corp to take over Ibis Ambassador Seoul Insadong, following its entry into the South Korean city through the acquisition of The Splaisir Seoul Dongdaemun.

SPH Reit manager appoints SPH CFO Chua Hwee Song to its board
The manager of retail landlord SPH Reit has appointed Mr Chua Hwee Song, the chief financial officer of Singapore Press Holdings (SPH), as a non-independent and non-executive director with effect from Friday (Nov 30). At the same time, Mr Anthony Mallek will step down as a non-independent, non-executive director of SPH Reit Management. He was appointed to the board in March 2013.

TTJ Holdings unit acquires industrial building and machinery for wood pellet business
TTJ Holdings’ subsidiary, TTJ Greenfuel, on Wednesday entered into an agreement to acquire an industrial property in Singapore and machinery for S$16.18 million. TTJ, the listed parent company, said after Wednesday’s trading close that this asset acquisition from Biofuel Industries will go towards building a wood pellet manufacturing business.


Views, Reviews, Forum & Others

Orchard Road smoking ban to kick in on Jan 1, 2019
Orchard Road will go smoke-free from Jan 1 next year, when lighting up in public areas will be allowed only within designated smoking areas and there will be no more smoking corners in eateries within the precinct. The National Environment Agency (NEA) will be ramping up publicity for the No Smoking Zone in the coming weeks through signs, advertisements and other efforts to keep both locals and tourists informed, it said in an update on Wednesday (Nov 28).

HDB ties up with tech and telco firms for resident-friendly app, launches $5m innovation fund
Residents will soon have a mobile device application that allows them to make appointments with banks or clinics in Housing Board (HDB) estates or apply to use public spaces such as void decks. It will even prompt them when shops nearby are having promotions.

Chan to Singaporeans: Deepen understanding of region
There is a real need for Singaporeans to understand the region better, so that Singapore can add value as a springboard or gateway when partnering those who wish to enter the South-east Asian market, Trade and Industry Minister Chan Chun Sing said on Wednesday.

2019’s hottest Singapore jobs are analytics, data-driven roles
Singapore hiring is likely to see stable growth in 2019, with top jobs in demand to be analytical and data-driven in nature, according to the latest annual salary survey by recruitment firm Robert Walters. These include data scientists, product management, user experience (UX) designers, and digital roles, with cybersecurity to remain a major focus, in the wake of recent high-profile cyberattacks in Singapore.

EDB eyes investments in tech, ICT, healthcare
As a Singapore-based investor, self-proclaimed to be “Singapore-first” and to have a “unique” position in the venture capital and private equity community, EDBI has identified deep tech, ICT (information and communications technology) and healthcare as industries to watch.

The challenges facing key players at the G-20 summit
Global leaders will gather in the Argentinian capital for a Group of 20 (G-20) summit beginning on Friday that is likely to be dominated by simmering international tensions over trade. Here is a quick guide to what’s at stake for the main players involved in the two-day event that is being held in South America for the first time.

Smart technologies a growth area for Daikin in Singapore
Long a household name in Singapore, the aircon nation, Osaka-headquartered air conditioning specialist Daikin is looking towards the future by harnessing smart technologies to build on its footprint here. Speaking to The Business Times, Daikin Singapore managing director Liu Shaw Jiun said: “In this era of accelerating digital technology advances, growing popularity of Internet of Things, as well as Singapore’s drive to be a Smart Nation, smart homes and smart solutions will be the cornerstone of living and lifestyles in the future.”

Hospitality counters OUEHT, CDLHT to ride recovery wave in 2019
The outlook looks bright for the hospitality industry next year, with analysts pointing to counters such as OUE Hospitality Trust (OUEHT) and CDL Hospitality Trusts (CDLHT) as potential beneficiaries from the recovery.

Joining hands for greater cross-border trade
Annually, over 250 million companies around the world transact goods and services worth US$120 trillion – making the opportunities in international trade tremendous for the businesses involved. The potential for a single business to transact with hundreds to thousands of buyers or suppliers around the world should be the dream of any business owner. However, it is typically the larger corporations – and even so only a fraction of them – that are able to internationalise successfully.

US, China and the tech war: Implications for Asia
Last week, the US Bureau of Industry and Security (BIS) of the Department of Commerce invited the industries and the public to offer comments on the proposal to establish sweeping export controls over a range of “emerging and foundational technologies”.

Why a US-China tariff ceasefire is coming soon
The meeting between US President Donald Trump and China’s President Xi Jinping at the G20 summit in Buenos Aires this week is being viewed as a make-or-break moment for the world economy and financial markets. But even if no agreement is reached at the summit, there are at least four reasons to expect a de-escalation of the US-China tariff war.


Global Economy & Global Real Estate

Federal Reserve chairman hints at higher rates following Trump attack

Fed urged to get more serious about US corporate debt risks

Fed stability report: Banks, households strong, but asset values “elevated”–banks–households-strong–but-asset-values–elevated–10978204

IMF’s Lagarde warns of worse trade hit to global economy

Q3 growth still strong at 3.5% despite slower household spending

UK GDP will suffer 10.7% hit in worst case no-deal Brexit: report

No-deal Brexit could cost UK economy 9.3% of GDP over 15 years – govt

UK consumer confidence wanes to year-low on Brexit worry

New Zealand business confidence in ‘holding pattern’ in November

Australian firms boost spending plans, Q3 investment eases

US new home sales plunge in October, lowest since March 2016

GRP unit no longer assured of winning project in China

China Gaoxian unit leases out Chinese properties for 4.9m yuan

WeWork Rival Knotel to Make Brazil Debut as Office Demand Swells

U.K.’s Regions See House Prices Drive Higher, Despite Brexit


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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