DAILY NEWS

Daily News – 31st January 2019

Singapore Real Estate

Shopping to lifestyle destination: New plans unveiled for Orchard Rd
Orchard Road promises to be much more than the fabled shopping and entertainment strip that it already is in future. Plans have been made to strengthen its position as a lifestyle location with more green spaces and a car-free zone. The plans were unveiled on Wednesday by the Singapore Tourism Board (STB), Urban Redevelopment Authority (URA) and National Parks Board (NParks). Together with the Land Transport Authority, these bodies have completed a six-month review of the plans for the belt.
https://www.businesstimes.com.sg/government-economy/shopping-to-lifestyle-destination-new-plans-unveiled-for-orchard-rd
https://www.straitstimes.com/singapore/big-revamp-to-turn-orchard-into-a-more-lively-street
https://www.straitstimes.com/singapore/buy-in-from-landlords-and-retailers-crucial-observers

Bungalow in Jervois Hill sells for S$30.88m
The Good Class Bungalow (GCB) market has seen what is believed to be its first major deal this year, with a property on Jervois Hill changing hands for S$30.88 million. The price works out to S$2,032 per square foot on freehold land area of 15,194 sq ft. Located within the Chatsworth Park GCB Area, the bungalow was built around nine to 10 years ago and it has two storeys and an attic – all connected via a private lift.
https://www.businesstimes.com.sg/real-estate/bungalow-in-jervois-hill-sells-for-s3088m

NUS launches Singapore’s first net-zero energy building to be built from scratch
The National University of Singapore (NUS) launched Singapore’s first net-zero energy building to be built from scratch on Wednesday at its School of Design and Environment (SDE). Environmentally friendly features such as a solar panel roof and a hybrid cooling system help the new building, called SDE4, to have net-zero energy consumption.
https://www.businesstimes.com.sg/real-estate/nus-launches-singapores-first-net-zero-energy-building-to-be-built-from-scratch
https://www.straitstimes.com/singapore/environment/nus-launches-net-zero-energy-building

Singapore Economy

Healthy business outlook for 2019, two surveys find
Business is on a high for companies across the corporate landscape, with smaller firms keen to expand overseas while the big players reap ever higher profits. The rosy picture was outlined in two reports, released on Tuesday, that point to a healthy business outlook for this year, despite an expected slowdown owing to global economic uncertainties.
https://www.straitstimes.com/business/healthy-business-outlook-for-2019-two-surveys-find

Companies’ Brief

OUE C-Reit Q4 DPU down 34.2%
OUE Commercial Reit’s (OUE C-Reit) distribution per unit (DPU) slid 34.2 per cent to 0.75 Singapore cent from 1.14 Singapore cents for the fourth quarter ended Dec 31, 2018. If Q4 2017 DPU were restated to include the 1.3 billion new units issued on Oct 30, DPU would have increased by 21 per cent to 0.75 Singapore cent from 0.62 Singapore cent a year ago.
https://www.businesstimes.com.sg/companies-markets/oue-c-reit-q4-dpu-down-342-0

Ascendas Reit Q3 DPU up 0.7%
Ascendas Reit on Wednesday posted a 0.7 per cent increase in distribution per unit (DPU) to 3.998 Singapore cents for the third quarter ended Dec 31, 2018, from 3.970 Singapore cents a year ago. Ascendas noted that the DPU takes into account an enlarged number of units in issue. Net property income rose 6.6 per cent to S$168 million mainly due to lower property tax expenses.
https://www.businesstimes.com.sg/companies-markets/ascendas-reit-q3-dpu-up-07
https://www.straitstimes.com/business/companies-markets/ascendas-reit-to-develop-manage-grabs-hq

Digital Realty to build third Singapore data centre in Loyang
Data centre provider Digital Realty Trust on Wednesday announced it had acquired another site in Loyang on a long-term lease to develop its third facility in Singapore. The new site spans 12,800 square metres (sq m) and is adjacent to its second Singapore facility, Digital Loyang I, at Loyang Drive. Its first data centre is located in Jurong West.
https://www.businesstimes.com.sg/real-estate/digital-realty-to-build-third-singapore-data-centre-in-loyang
https://www.straitstimes.com/business/economy/digital-realty-to-build-third-data-centre-in-singapore