DAILY NEWS

Daily News – 4 March 2016

Singapore Real Estate

HDB resale flats up 0.2% in February: SRX Property
Stronger signs of stabilising resale prices for Housing & Development Board (HDB) flats were reflected in the latest flash estimates by SRX Property in February, which showed resale prices inching up 0.2 per cent from a month ago.
http://www.businesstimes.com.sg/real-estate/hdb-resale-flats-up-02-in-february-srx-property
http://www.straitstimes.com/singapore/hdb-resale-prices-up-02-in-february
http://www.todayonline.com/singapore/hdb-resale-prices-02-february-srx-property

Cairnhill Nine’s units attract strong interest
Capitaland’s latest condominium project along Orchard Road, Cairnhill Nine, has seen strong interest, with cheques received for a sizeable number of its total 268 units. Indonesians represent a significant portion of the potential buyers, The Business Times has learnt.
http://www.businesstimes.com.sg/real-estate/cairnhill-nines-units-attract-strong-interest

OCBC sells 8 shophouses and strata shop units for S$31.7m
OCBC has sold eight shophouses and strata shop units for S$31.7 million within a year of putting up for sale a portfolio of 38 such properties islandwide. The latest transacted was a three-storey freehold shophouse at 735 Havelock Road, which was sold for S$4.5 million to a private company in February, according to the caveat lodged, or S$1,443 per square foot (psf) based on gross floor area (GFA).
http://www.businesstimes.com.sg/real-estate/ocbc-sells-8-shophouses-and-strata-shop-units-for-s317m

Singapore developers ‘can build on Viet market potential’
Vietnam’s property market is looking up, thanks to still healthy economic growth and an emerging middle class, which should provide more opportunities for Singapore developers, analysts say. Developers from the Republic are already making headway in the country. Keppel Land, for instance, entered into a joint venture to develop a prime 14.6ha waterfront site in Ho Chi Minh City’s Thu Thiem New Urban Area this week.
http://www.straitstimes.com/business/property/singapore-developers-can-build-on-viet-market-potential

Lease extended, but fate of Alkaff Mansion restaurant still uncertain
http://www.channelnewsasia.com/news/singapore/lease-extended-but-fate/2571660.html

Fire breaks out at Tg Pagar building site
http://www.straitstimes.com/singapore/fire-breaks-out-at-tg-pagar-building-site

Companies’ Brief

Hongkong Land full-year profit up 52% on non-trading gains
Hongkong Land Holding’s profit attributable to shareholders for the year was US$2,012 million, up 52 per cent compared to US$1,327 million a year ago. This takes into account the net non-trading gains of US$1,107 million recorded principally on property valuations of the group’s investment properties; in 2014, net valuation gains came in at US$397 million.
http://www.businesstimes.com.sg/companies-markets/hongkong-land-full-year-profit-up-52-on-non-trading-gains

CapitaLandCom to replace Noble in STI Index
Come March 21, Noble Group will be removed from the Straits Times Index (STI), while CapitaLand Commercial Trust will be added, said FTSE Russell on Thursday. The sole change to the STI constituents follows the March quarterly review. The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size): Suntec Reit, Neptune Orient Lines, First Resources, Singapore Post, and Keppel Reit. These companies will replace any STI constituents that become ineligible as a result of corporate actions, before the next review.
http://www.businesstimes.com.sg/companies-markets/capitalandcom-to-replace-noble-in-sti-index

LH Group plans to acquire Pacific Star Dev in S$140m RTO deal
LH Group said on Thursday it plans to acquire real estate fund management company Pacific Star Development in a S$140 million reverse takeover (RTO) deal. Singapore-based Pacific Star has invested on behalf of its institutional investors in several prime properties such as Wisma Atria, Ngee Ann City and Tripleone Somerset. It is currently negotiating to secure a pipeline of prime land parcels in parts of Asean for future expansion and diversification of its property development business, LH Group said in a regulatory statement.
http://www.businesstimes.com.sg/companies-markets/lh-group-plans-to-acquire-pacific-star-dev-in-s140m-rto-deal

Views, Reviews & Forum

Market watchers expecting slashed prices will be waiting for Godot
Many calls have been made for the relaxation of property cooling measures since early last year. Many market players also speculated about the reduction of the Additional Buyer Stamp Duty (ABSD) for residential properties last year, and since 2015 has passed, they have renewed their predictions that ABSD may be reduced in 2016. Perceptive market watchers and property agents have gone one step further. They are predicting which projects — which may soon face hefty penalties when the deadlines on the Qualifying Certificate (QC) and ABSD pass — will slash prices significantly to spur sales and avoid the charges.
http://www.todayonline.com/business/market-watchers-expecting-slashed-prices-will-be-waiting-godot