DAILY NEWS

Daily News – 30th July 2019

Singapore Real Estate

Watten Estate Condominium up for sale with S$536m reserve price
Freehold Watten Estate Condominium is up for collective sale on July 30 with a reserve price of S$536 million. This translates to a land rate of S$1,738 per square foot per plot ratio (psf ppr), sole marketing agent Huttons said on Monday. It was first put up for en bloc sale back in 2007, with a price tag then of S$480 million.
https://www.businesstimes.com.sg/real-estate/watten-estate-condominium-up-for-sale-with-s536m-reserve-price
https://www.straitstimes.com/business/property/watten-estate-condo-in-bukit-timah-up-for-collective-sale-with-536m-reserve-price
https://www.todayonline.com/singapore/watten-estate-condo-en-bloc-sale-536m-analysts-say-bukit-timah-condo-priced-too-high

Waterloo Street apartment site up for sale with S$145m asking price
Apartment development Min Yuan, a 27-unit residential with commercial on its first storey has been put up for sale with an asking price of S$145 million, said exclusive marketing agent CBRE on Monday. Including a payable development charge of around S$19.55 million, the land price works out to about S$2,678 per square foot per plot ratio (psf ppr) for the 999-year leasehold site which spans about 14,629 sq ft.
https://www.businesstimes.com.sg/real-estate/waterloo-street-apartment-site-up-for-sale-with-s145m-asking-price-0
https://www.straitstimes.com/business/property/waterloo-street-apartment-site-up-for-sale-with-145m-asking-price

Completed condo prices drop 0.7% in June after two months of gains
Prices of completed private apartments and condominiums in Singapore dipped 0.7 per cent in June from the previous month, falling after two months of gains. The figures are flash estimates released on Monday by the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI), which tracks prices of completed non-landed private homes.
https://www.businesstimes.com.sg/real-estate/completed-condo-prices-drop-07-in-june-after-two-months-of-gains
https://www.straitstimes.com/business/property/completed-condo-prices-drop-07-in-june-after-two-months-of-gains-nus-index

Is this the house that Jack Ma is building in Singapore?
The fraternity of Alibaba cofounders continues to grow its presence in Singapore’s high-end residential sector. According to the grapevine, an entity linked to Alibaba Group Holding chairman and co-founder Jack Ma is developing a two-storey bungalow with a basement and swimming pool in the Victoria Park Good Class Bungalow (GCB) Area.
https://www.businesstimes.com.sg/real-estate/is-this-the-house-that-jack-ma-is-building-in-singapore

Singapore Economy

Singapore is ready with ‘package’ to help businesses, workers in sudden downturn: DPM
A package is ready to help Singapore businesses and workers should the global economy take a nosedive, said Deputy Prime Minister Heng Swee Keat. Noting that the trade row between China and the United States has cast a pall on the global economy, he said the Cabinet has been discussing the recent slowdown and that the government will act if the situation turns bad.
https://www.businesstimes.com.sg/government-economy/singapore-is-ready-with-package-to-help-businesses-workers-in-sudden-downturn-dpm
https://www.straitstimes.com/singapore/measures-ready-to-help-firms-workers-in-downturn-heng

Companies’ Brief

Far East H-Trust Q2 DPS falls 9.9% to 0.91 S cent on lower hotel revenue
Far East Hospitality Trust (Far East H-Trust) on Tuesday morning posted a 9.9 per cent drop in distribution per stapled security (DPS) to 0.91 Singapore cent for its second quarter ended June 30, down from 1.01 cents a year ago. This came on the back of a 7.4 per cent decline in income available for distribution to S$17.6 million for the quarter from S$19 million in the previous year, as well as an enlarged base.
https://www.businesstimes.com.sg/companies-markets/far-east-h-trust-q2-dps-falls-99-to-091-s-cent-on-lower-hotel-revenue

Mapletree North Asia Commercial Trust Q1 DPU up by 3.7% to 1.95 S cents
Mapletree North Asia Commercial Trust’s manager has bumped up the trust’s first-quarter distribution per unit to 1.95 Singapore cents, or 3.7 per cent higher than the year prior. Net property income was up by 10.7 per cent to S$85 million for the three months to June 30, according to unaudited results out on Monday. Distributable income was higher by 9.3 per cent, at S$62 million.
https://www.businesstimes.com.sg/companies-markets/mapletree-north-asia-commercial-trust-q1-dpu-up-by-37-to-195-s-cents

Ascendas Reit Q1 DPU edges up to 4.005 cents
Distribution per unit (DPU) for Ascendas Reit in its first quarter rose marginally to 4.005 Singapore cents from 4.002 Singapore cents year-on-year on an enlarged unit base. This came as Q1 total amount available for distribution grew 6.3 per cent to S$124.7 million on higher gross revenue and lower property operating expenses.
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-q1-dpu-edges-up-to-4005-cents

Ascott Reit posts 8% higher Q2 DPU at 1.98 S cents
Ascott Residence Trust (Ascott Reit) on Tuesday reported an 8 per cent rise in its distribution per unit (DPU) to 1.98 Singapore cents for the second quarter ended June 30, from 1.84 cents a year ago. Adjusted for one-off items, the Singapore-listed hospitality trust’s DPU would have been 1.84 cents, unchanged from the previous pay-out.
https://www.businesstimes.com.sg/companies-markets/ascott-reit-posts-8-higher-q2-dpu-at-198-s-cents
https://www.straitstimes.com/business/companies-markets/ascott-reits-q2-dpu-up-8-at-198-cents

4 largest Singapore office Reits averaged 2.07 S cents DPU for April-June: SGX
For the quarter ended June, the four largest Singapore-listed real estate investment trusts (S-Reits) that own office assets posted an average distribution per unit (DPU) of 2.07 Singapore cents, down an average of 0.3 per cent from the year-ago period. These four were CapitaLand Commercial Trust (CCT), Mapletree Commercial Trust (MCT), Suntec Reit and Keppel Reit, the Singapore Exchange (SGX) said on Monday.
https://www.businesstimes.com.sg/companies-markets/4-largest-singapore-office-reits-averaged-207-s-cents-dpu-for-april-june-sgx
https://www.straitstimes.com/business/companies-markets/4-biggest-s-reits-post-average-q2-dpu-of-207-cents

M+S confirms S$1.58 billion Duo sale to Allianz-Gaw team-up
The national joint venture between Malaysia and Singapore is divesting part of a signature mixed-use project in the Republic’s Ophir-Rochor precinct, as reported by The Business Times in May. M+S Pte Ltd will sell the office and retail areas of Duo for S$1.575 billion, or S$2,570 per square foot (sq ft) of net lettable area, the developer said in a statement on Monday night. The land has a 99-year leasehold tenure.
https://www.businesstimes.com.sg/real-estate/ms-confirms-s158-billion-duo-sale-to-allianz-gaw-team-up
https://www.straitstimes.com/business/ms-selling-office-retail-areas-of-duo-complex-for-16b

Stamford Land and chairman buy London office-and-retail building
Mainboard-listed luxury-hotel operator Stamford Land Corporation has bought a 60 per cent stake in a freehold, Grade-A office-and-retail property in London, while Ow Global has acquired the remaining 40 per cent, for a total consideration of £260 million (S$441.2 million). Ow Global is owned by Stamford Land’s executive chairman, C K Ow.
https://www.businesstimes.com.sg/real-estate/stamford-land-and-chairman-buy-london-office-and-retail-building
https://www.straitstimes.com/business/companies-markets/stamford-land-chairman-buy-london-office-and-retail-building-for-441m

SLA deputy chairman reappointed, 2 new board members added
Singapore – The Ministry of Law on Monday (July 29) said it has reappointed Yeoh Oon Jin as the deputy chairman of the Singapore Land Authority’s (SLA) board along with six other members. Mr Yeoh is currently the executive chairman at PricewaterhouseCoopers Singapore. Two new individuals will also join SLA’s board come Aug 1 for a term of two years. They are Eric Sandosham, founder and partner of Red & White…
https://www.straitstimes.com/business/economy/sla-deputy-chairman-reappointed-2-new-board-members-added

Banyan Tree to run new eco-friendly resort in Mandai
Singapore — Luxury resort operator Banyan Tree Holdings will be operating an eco-friendly resort that features “elevated” cabins surrounded by tree canopies, as well as other amenities, when a new mega-nature attraction in Mandai opens in 2023. The company and Mandai Park Holdings, which manages wildlife attractions such as the Singapore Zoo, River Safari, Night Safari and Jurong Bird Park, jointly announced the news on Wednesday (Oct 11).
https://www.todayonline.com/singapore/eco-friendly-resort-mandai-be-operated-banyan-tree
https://www.todayonline.com/singapore/new-mandai-resort-will-offer-unprecedented-access-nature-treehouses-for-guests