The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 4th October 2017

Top Story

BCA to give forecast of construction tenders needing prefab methods|
The Building and Construction Authority (BCA) will from now on publish a forecast of the tenders requiring prefabricated technologies that are expected to be called each year, so construction firms can plan their investment decisions ahead, train their workers and seek out partners with complementary expertise.

Singapore Economy

Govt making it easier for SMEs to adopt data analytics and AI: Yaacob
The government is addressing barriers to get local companies to adopt technologies such as data analytics and artificial intelligence (AI), said Minister for Communications and Information Yaacob Ibrahim in Parliament on Tuesday.  A study by the Committee on the Future Economy (CFE) showed that about a third of businesses have not adopted data analytics and 80 per cent have not adopted AI, due to factors such as a lack of awareness or expertise, or concern about breaching data protection regulations.

Singapore SMEs among gloomiest in world: Poll
Singapore’s small and medium-sized enterprises (SMEs) are some of the gloomiest in the world, according to a new poll.  It found that 79 per cent of senior executives at SMEs here “have concerns about the global economy”, compared with a worldwide average of 65 per cent. At the top of their concerns was the political situation in the United States, which is worrying 31 per cent here – a sentiment in line with that of SMEs around the world.

Singapore Real Estate

Construction sector hardest hit by payment delays
The construction sector continues to be hard-hit by a double whammy of sluggish demand and delayed payments, which is worsening the cashflow situation of the smaller players – and little relief is in sight.  Construction is the only sector that registered a year-on-year rise in number of slow payments, which stood at 53.3 per cent in Q3 2017, up from 50.82 per cent in Q3 2016, said the Singapore Commercial Credit Bureau (SCCB).

LTA may be given powers to enter land, buildings in construction of cross-border rail
The authorities are set to be given teeth to conduct surveys or works on land or buildings in or outside areas required by the Singapore-Malaysia rail links, under proposed laws tabled in Parliament on Tuesday (Oct 3).  The Cross-Border Railways Bill will give the Land Transport Authority (LTA) the power to enter such spaces in the railway area to carry out work, such as pre-construction surveys or digging, to determine if the soil is suitable for building, maintaining or improving railway infrastructure.

Top Global buys 6,103 sq ft unit at Orchard Road’s Tong Building
Top Global is buying a 6,103-square-foot unit at Tong Building on Orchard Road for S$24.93 million inclusive of a 7 per cent goods and services tax.  The freehold unit, which sits on the 18th floor of the building, is being sold by Fortis Asia Healthcare.  The consideration for the unit will be funded with internal resources.

Lease expiry: Most of those in owner-occupied units qualify for public housing
The vast majority of those living in the 39 owner-occupied private terraced houses in Geylang Lorong 3, whose 60-year leases expire at the end of 2020, have qualified for Housing Board flats, said the Singapore Land Authority (SLA).  Family members of the households living in 35 units have met SLA officers and qualified for public housing after having their circumstances assessed by the SLA and HDB.

Companies’ Brief

GuocoLand-Guoco Grp set to invest S$2.1b in Beach Road project
GuocoLand did not give away any concrete plans for its future project on the Beach Road site which it was jointly awarded on Tuesday for S$1.622 billion.  However, industry observers expect it, together with its parent, Hong Kong-listed Guoco Group, to develop on the site an office, residential and retail project at a total cost of about S$2.1 billion to S$2.2 billion (including land price). The project is likely to be ready around 2022.

Lion Global, Phillip Capital team up to launch S-Reit ETF
Two rival fund managers have entered into an unlikely partnership to cash in on the growing trend by investors to back market indices rather than bet on professional stock pickers.  Lion Global Investors, which is part of the OCBC Group, has joined forces with Phillip Capital Management to create the first exchange-traded fund (ETF) to be comprised entirely of Singapore-listed real estate investment trusts (Reits).

Views, Reviews & Forum

Home delivery boom kicking off property scramble
The home delivery boom is upending the real estate market. At the turn of the century, shoppers could wait as long as 28 days for delivery of goods they had bought online. The compression of that window to 24 hours or less is revolutionising logistics and turning industrial warehouses into desirable assets.

Do rising rates hit returns on income investments?
Our research, which looks at episodes of rising rates since 1970, suggests income-producing assets don’t perform as investors might expect.  Many will remember to their cost the infamous “taper tantrum” in June 2013. It was the moment Ben Bernanke, then chairman of the US Federal Reserve, indicated that the quantitative easing (QE) would be scaled back, or tapered.

Powering infrastructure projects with data
The world is facing two big shifts from this decade into the next. The first is the advent of technology and the digital revolution sweeping across industries and economies. The second is the push to build or renew existing infrastructure for catering to growing urbanisation and connectivity needs.

Barriers to going fenceless for condominiums
The Straits Times reported on Monday that Singapore could see more fenceless condominiums in the future.  Such developments in land-scarce Singapore could feature more connectivity, boundaries of vegetation rather than fences, and be strategically located to encourage the sharing of courtyards and public amenities, said industry players.

Global Economy & Global Real Estate

U.S. House committee launches probe of Allergan patent deal

Manhattan resale home prices set a record, even after discounts

Open house takes on whole new meaning in London’s sharing economy

Asean to grow 5% in 2017: S&P Global

Genting HK to delist from SGX, retain single primary listing in Hong Kong

Emaar’s property development valued at S$8.9b ahead of IPO

Additional Articles of Interest – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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