DAILY NEWS

Daily News – 31 Dec 2019

Singapore Real Estate

HDB releases EC sites in Sengkang, Tampines
The Housing and Development Board (HDB) on Monday released two executive condominium (EC) sites, one along Fernvale Lane in Sengkang and the other on Tampines Street 62. Both 99-year leasehold land parcels can yield up to a total of 1,100 residential units, HDB said.
https://www.businesstimes.com.sg/real-estate/hdb-releases-ec-sites-in-sengkang-tampines
https://www.straitstimes.com/singapore/housing/hdb-launches-two-ec-sites-in-sengkang-tampines
https://www.channelnewsasia.com/news/singapore/hdb-releases-2-executive-condo-sites-sengkang-fernvale-tampines-12219480
https://www.todayonline.com/singapore/hdb-releases-2-executive-condo-sites-sengkang-and-tampines

Singapore Economy

Look Back 2019: Business sentiment remains weak after a recession near-miss
The Singapore economy hit a speed bump this year amid a global slump in electronics demand and a protracted trade war between the United States and China. The full-year growth rate is expected to be 0.5 per cent to 1 per cent, making it the slowest expansion since the global financial crisis 10 years ago.
https://www.straitstimes.com/business/economy/economy-business-sentiment-remains-weak-after-a-recession-near-miss

Companies’ Brief

ARA buys Robinson Centre via private real estate fund
ARA Asset Management has purchased Robinson Centre for an undisclosed sum via one of its private real estate funds, the real estate asset manager revealed in a press release on Monday. The Business Times had reported on Dec 3 that ARA was a potential buyer for the 20-storey office building, with market watchers expecting the price to be around S$340 million, or about S$2,550-2,600 per square foot.
https://www.businesstimes.com.sg/real-estate/ara-buys-robinson-centre-via-private-real-estate-fund

Thakral funds Osaka property investment with 1.54b yen JV share issue
Thakral Corporation’s joint venture (JV) has increased its share capital by some 1.54 billion yen (S$19.1 million) to 1.6 billion yen to finance its stake purchase in an office building in Japan. All proceeds from the share issue were used for the investment, Thakral Corp said on Monday night. The JV, Thakral Umeda Properties (TUP), issued and allotted an additional 15.4 million shares at 100 yen apiece.
https://www.businesstimes.com.sg/companies-markets/thakral-funds-osaka-property-investment-with-154b-yen-jv-share-issue