The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 31st Jan 2020

Singapore Economy

Employment growth for Singapore residents eased slightly in 2019: MOM
More Singapore residents held jobs at the end of last year despite economic uncertainties, although employment growth slowed slightly.  The annual average unemployment rate for Singaporeans rose to 3.3 per cent, up from 3 per cent in 2018, going by preliminary data released by the Ministry of Manpower (MOM) on Thursday. Retrenchments, meanwhile, came in at a similar level to the previous year.

Wuhan virus could score a point – off Singapore’s economic growth
Singapore’s economy, which is still in a fitful recovery from the trade war, could lose up to one percentage point of growth to the Wuhan virus, economic watchers are now warning.  “The economy is just beginning to show signs of stabilisation from the sharp slowdown last year,” Nomura’s chief Asean economist, Euben Paracuelles, told The Business Times in an e-mail. But now, “the recovery could be delayed or more subdued”.

Hotel, tour and F&B sectors casualties of Wuhan virus outbreak
More Singapore businesses such as hotels, tour agencies and F&B establishments are suffering from the Wuhan virus outbreak.  Toh Hwee Tin, executive secretary of the Food, Drinks and Allied Workers’ Union (FDAWU), and Attractions, Resort and Entertainment Union (AREU), said these businesses are experiencing a decrease in sales.


Companies’ Brief

OUE C-Reit posts 12% increase in Q4 DPU, NPI soars post-merger
OUE Commercial Real Estate Investment Trust (C-Reit) posted a 12 per cent year-on-year rise in distribution per unit (DPU) to 0.84 Singapore cent for the fourth quarter ended Dec 31, 2019.  Revenue surged over 80 per cent to S$86.79 million, while net property income jumped nearly 93 per cent to S$70.58 million on the back of a full quarter’s contribution of the merger with OUE Hospitality Trust as well as contribution from OUE Downtown Office, which was acquired on Nov 1, 2018.

a-iTrust’s Q3 net lifted by higher occupancies, positive rent reversions
Rental income from the completion of Anchor building, higher occupancies and positive rental reversions enhanced results for IT park owner Ascendas India Trust (a-iTrust) in its third quarter.  a-iTrust’s distribution per unit (DPU) rose 4 per cent to 2.12 Singapore cents for the third quarter ended Dec 31.

Ascott Reit sees drop in bookings from Wuhan virus, downplays impact
Ascott Residence Trust (ART) expects a short-term impact on its portfolio, with global travel reduced as a result of the novel coronavirus situation, and it has already seen some cancellations in bookings and a drop in forward bookings since the start of this year.  But the chief executive of the Reit manager Beh Siew Kim stressed at its results briefing on Thursday that the Reit has a diversified portfolio, so it will be able to ride…

Hong Realty flipping Suntec office floor for 26% or S$7.6m gross gain
Hong Realty, a privately held vehicle of the Hong Leong Group, is making a handsome gain from the sale of an office floor at Suntec City which it bought less than two years ago.  The company is selling Level 10 of Suntec Tower One for S$37.1 million to a Singapore-incorporated vehicle controlled by the Hong Kong-based Rosa family, which founded Rosa Securities.

AA Reit declares flat DPU of 2.5 S cents for Q3
Aims Apac Reit’s (AA Reit) distribution per unit (DPU) stood at 2.5 Singapore cents for the third quarter ended Dec 31, unchanged from a year ago.  Gross revenue was down 1.2 per cent to S$29.5 million for the quarter, from S$29.8 million a year ago, according to a regulatory update on Friday.


Global Economy & Global Real Estate

US economic growth slowed in 2019, hit by trade wars

Economy again misses Trump’s 3% growth target

Atari plans to open 8 video-game themed hotels

China’s Jan factory activity stalls as virus risks grow

Beijing expected to cut rates among other efforts to cushion blow from coronavirus

HK exports up 3.3% in December; full year shows decline of 4.1%

Portugal looks to cut ‘golden visa’ incentives for foreign property buyers   


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article


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