The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 30th Aug 2019

Singapore Real Estate

Singapore is 2nd biggest Asian source of outbound capital for real estate
Investors from Singapore spent US$5.7 billion on offshore commercial real-estate investments in the first half this year, emerging as the second-largest source of Asian outbound capital.  South Korea-based investors pipped them to the top spot, chalking up US$6.8 billion in overseas transactions in that time frame, says a report by real-estate agency CBRE.

Residential site off Bartley Road up for sale under GLS
A residential site at Jalan Bunga Rampai off Bartley Road has been launched for sale by public tender under the confirmed list of the second half of the 2019 Government Land Sales (GLS) Programme, the Urban Redevelopment Authority (URA) announced on Thursday.  The development with a 99-year lease occupies a site area of 4,666.6 square metres (sq m), and a maximum gross floor area of 9,800 sq m.

Two Peninsula Plaza basement units for sale at S$13.5m
Two 999-year leasehold strata retail units on the basement level of Peninsula Plaza have been relaunched for sale at a guide price of S$13.5 million, which works out to be about S$2,825 per square feet (psf) on strata area.  The sale will be conducted through an Expression of Interest (EOI) exercise which closes on Oct 3 at 3pm, said marketing agent JLL in a news release on Thursday.


Singapore Economy

Singapore keeps its spot as world’s second safest city
Singapore has retained its position as the world’s second safest city, after Tokyo, in a global index that looks at indicators including the ability of communities to bounce back after a disaster or cyber attack.  The Economist Intelligence Unit’s (EIU) Safe Cities Index (SCI), which ranks 60 cities across five continents, looks at 57 qualitative and quantitative indicators spread across four categories in terms of security: digital…


Companies’ Brief

CapitaLand unit divests China subsidiary
A unit of CapitaLand has divested its 100 per cent interest in Citadines Ming Zhu (Chongqing) Property (CMCQ) to an unrelated party for 99.2 million yuan (S$19.6 million).  CMCQ is incorporated in China and owns a property known as Somerset Jiefangbei Chongqing. Mingzhu Investments (Hong Kong), the CapitaLand subsidiary, sold CMCQ to Zhongshen Tianjin Commercial Management.

Hatten Land posts Q4 profit of RM9.3m, reverses year-ago loss
Catalist-listed Hatten Land on Wednesday posted a net profit of RM9.3 million (S$3.07 million) for the fourth quarter ended June 30, reversing a restated net loss of RM5.3 million in the year-ago period.  Revenue rose to RM95.5 million from RM44.7 million a year ago, mainly on higher revenue from the Harbour City project. This was partly offset by lower revenue from the Hatten City Phase 2 project.


Views, Reviews, Forum & Others

S-Reit universe may soon welcome a new asset class: grocery-anchored malls
A new asset class may soon be added to the Singapore Reit (S-Reit) universe later this year: grocery-anchored malls.  They may not seem exciting but property trusts anchored by these bread and butter businesses are seen as safe havens amid the challenges retailers are facing today.

Government subsidy should not go to luxury seafront homes
During Prime Minister Lee Hsien Loong’s National Day Rally, he mentioned that among other developments, Housing Board flats will also be built on the land where Keppel Club sits, which is part of the 30km Greater Southern Waterfront.  HDB’s mission is to provide basic affordable housing to the population, and in this regard, it has done an excellent job, an achievement second to none anywhere in the world.

Consider ‘rent with option to buy’ scheme for flats at Keppel site
News reports on the prospect of public housing being built on the land where Keppel Club now sits have raised concerns about a “lottery effect”.  Experts have raised the idea of a longer minimum occupation period (MOP) to mitigate that effect (Spotlight on “lottery effect” of flats slated for Keppel Club site, Aug 23).

The workplace of the future is versatile and digital
At the heart of Coca-Cola’s regional office in Singapore – a nearly 30,000 sq ft space overlooking Keppel Bay – sits what its designers term an “oversized pantry”. It is an unapologetically spacious communal area that plays host to company town halls, yoga classes and digital showcases. It also houses a large meeting room that can be fully opened or closed, cleverly designed to maximise the use of the area.

Digital Government, Smart Nation: Pursuing Singapore’s tech imperative
The Smart Nation initiative, first announced by Prime Minister Lee Hsien Loong in 2014, aims to make Singapore “an outstanding city in the world… for people to live, work and play in, where the human spirit flourishes”.  Building a Smart Nation is a whole-of-nation effort which comprises three pillars: Digital Government, Digital Economy and Digital Society.


Global Economy & Global Real Estate

US GDP growth revised down slightly in Q2

US mortgage activity falls as loan costs rise

US home-price gains in cities slow for 15th month in a row

‘Trump slump’ in property value sees push by condo owners to dump his name

Hugh Hendry Swaps Hedge Fund for Hot Spot in Caribbean Comeback

UK economy weakest since 2012 as Brexit fears mount

No-deal Brexit would spell more pain for economy

Asean must boost centrality and integration efforts: Chan Chun Sing

China’s yuan languishes in longest losing streak on record

Caesars drops out of race to open Japan casino

Australia Q2 business investment sags, spending outlook picks up

Indonesia pledges US$40b to modernise Jakarta ahead of new capital

European economic confidence unexpectedly rose in August


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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