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 2018

Top Story

Smart surveillance system at malls in $2.5m tech push
An automated surveillance monitoring system that flags unusual activities such as fights has been deployed at seven shopping malls, as part of a $2.5 million innovation drive to help the security industry modernise.  This project is one of four pilots supported by the Government, to help firms develop solutions to meet increasing demand for security services, fuelled by the heightened security threat and growing number of buildings islandwide.


Singapore Real Estate

Shophouse at 21 Boon Tat Street fetches record price in District 1
A 999-year leasehold shophouse at 21 Boon Tat Street in the Telok Ayer Conservation Area is being sold for S$16.5 million, which works out to S$4,259 per square foot on the estimated built-up area of 3,874 sq ft.  According to property agents, the psf price is a new high for a conservation shophouse in District 1.

Nanshan family in S$40m GCB purchase
The Song family behind Nanshan Group Singapore is understood to be in the early stage of buying a freehold bungalow in the Camden Park Good Class Bungalow Area for S$40 million.  The price works out to S$1,373 per square foot on the land area of 29,143 sq ft.


Companies’ Brief

Mapletree acquires logistics assets in the US, Europe
Mapletree Investments has acquired a 16.5 million sq ft logistics portfolio for US$1.1 billion (S$1.54 billion) from Prologis, Inc.  The assets are located in established distribution centres within major logistics markets such as Chicago, Dallas and Seattle in the US, as well as France, Germany and Poland, Mapletree said on Wednesday.

CapitaLand gets $300m sustainability-linked loan from DBS
CapitaLand has secured a five-year, $300 million sustainability-linked loan, said to be the first and largest in Asia’s real estate sector, from DBS Bank.  The multi-currency loan is linked to the developer’s listing on the Dow Jones Sustainability World Index (DJSI World), which tracks established firms in areas such as environmental, social and governance (ESG) efforts.

Bowsprit deal benefits buyers more than seller
The recent lateral shift in the ownership of First Reit’s manager, Bowsprit Capital, from Lippo Karawaci to OUE and OUE Lippo Healthcare (OUELH) may benefit the buyers more than the vendor.  Each side has its reasons for the transaction, of course. For Lippo, the sale is merely one small part of its larger asset sales plan.

Heeton, KSH, Lian Beng consortium acquires hotel in Glasgow
Heeton Holdings, KSH Holdings and Lian Beng Group have joined hands to acquire Hotel Indigo Glasgow in Scotland for an undisclosed sum.   The consortium is led by Heeton, which has an effective interest of 60 per cent while KSH and Lian Beng have effective interests of 20 per cent each.



Sharp rise in number of people living alone
Family life may hold a special place in Singapore but increasing numbers of people are living alone, either by choice or circumstance.  There has been a stark rise over the past two decades or so in what are called one-person resident households. These are households headed by a citizen or permanent resident.


Global Economy & Global Real Estate

US dollar strengthens after Fed comments

DC Council votes to restrict Airbnb in Washington

Manhattan home sales tumble in a market clogged with listings

Turning an old Manhattan freight terminal into a sleek office tower

Japan to order Suruga Bank to halt new property loans after scandal: sources

City officials develop plan to keep Amsterdam homes affordable

Hilton plans to double hotels in Africa in next five years

Turkey’s Dogus Reit sets rates for foreign currency rent


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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