The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 3 Oct 2019

Singapore Real Estate

Still room for co-working spaces even as WeWork IPO hits the skids, say analysts
WeWork’s stalled initial public offering (IPO) has flagged risks in the co-working sector, though market watchers say there is still room for co-working spaces in Singapore.  Hefty losses at the co-working giant, which failed to impress investors as it sought a listing, could prompt investors and landlords to be more cautious about the co-working segment from hereon.

WeWork concerns seeping into Singapore office Reits: Credit Suisse
[Singapore] Concerns about co-working giant WeWork may amplify the negative impact of a weakening economy on Singapore’s commercial real estate investment trusts (Reits), according to Credit Suisse Group.  Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office Reits, analysts led by Nicholas Teh wrote in a report.

Allgreen to start preview for Royalgreen on Oct 5
Allgreen Properties Limited – the real estate arm of the Kuok Group in Singapore – will start its preview for Royalgreen condominium on Saturday.  The 285-unit Royalgreen – a five-storey development over eight blocks – is a freehold development in the Bukit Timah residential enclave.


Companies’ Brief

Lendlease Global Reit achieves 4.5% premium on trading debut
Lendlease Global Commercial Reit (real estate investment trust) on Wednesday ended its first day of trading on the mainboard at S$0.92, 4.5 per cent above its initial public offering (IPO) price of S$0.88.  From the start of trading at 2pm till market close, the units traded within a band of S$0.915 to S$0.945.


Views, Reviews, Forum & Others

A recession is never a necessity for economies
I recently received an email from my friend Mark Thoma of the University of Oregon, asking if I had noticed an increase in commentaries suggesting that a recession would be a good and healthy purge for the economy (or something along those lines). In fact, I, too, have noticed more commentators expressing the view that “recessions, painful as they are, are a necessary growth input”. I am rather surprised by it.

Home Front: Since GE2011, have HDB issues been resolved?
It is a rite of passage for most Singaporeans. No, not getting married, though that is closely tied to it – but owning their first HDB home.  And that has just become easier because of measures announced by National Development Minister Lawrence Wong on Sept 10.

Explainer: WeWork — the rise and fall of another tech darling
Singapore — Once valued at US$47 billion (S$65 billion), co-working space operator WeWork is now in the doldrums.  Its parent We Company lost US$1.9 billion last year. Founder and chief executive officer Adam Neumann has been ousted and the firm has also shelved its Initial Public Offering (IPO) plans.


Global Economy & Global Real Estate

Citing climate risk, investors bet against mortgage market

Manhattan resale home prices drop most since 2011 as sellers cave

As WeWork slows down, its biggest competitor IWG says it’s thriving

Property bubble risk grows in eurozone


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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