Singapore Real Estate
To build or buy? Investors eye hospitality assets as tourism, scarce supply prop up sector
With rising tourist arrivals and limited stock, investor appetite for Singapore hospitality assets is heating up, with hospitality deals in the first nine months of the year totalling S$4.2 billion, according to data from Colliers International. While a sizeable portion of deals was from existing hotels, sites zoned for hotel use have also seen some activity – with high sale prices and asking prices.
Riverside Piazza up for en bloc sale with S$198m reserve price
The Riverside Piazza near Clarke Quay will be put up for collective sale via tender at a reserve price of S$198 million on Nov 5, marketing agent Colliers International said on Monday. The Riverside Piazza comprises 40 apartments and 24 commercial shops, with sizes ranging from 58 sq m to 333 sq m (624 sq ft to 3,584 sq ft). Upon completion of the sale, each owner could stand to receive between S$2.23 million…
2 Leng Kee showrooms up for sale at guide prices of S$15m, S$23m
Two industrial properties situated along the Leng Kee Road car showroom belt are up for sale via expression of interest, said marketing agent Knight Frank on Tuesday. 3 Leng Kee Road has a guide price of S$15 million and balance leasehold of 33 years. It is a two-storey workshop or showroom cum office building with a land area of 1,507 square metres (sq m) and floor area of 1,373 sq m.
Tan Chong Motor puts Toa Payoh showroom on market
Nissan agent Tan Chong Motor is putting up another showroom for sale, six months after it said that it was closing its Bukit Timah flagship outlet. Meanwhile, businessman Peter Kwee is selling two showrooms in Leng Kee Road.
S’pore PMI contracts for 6th month in a row amid trade gloom
Manufacturing sentiment has now been in the basement for six consecutive months amid the gloomy trade environment, but positive signals from Washington and Beijing are raising hopes for a year-end revival. For now, the general state of decline continues as the Purchasing Managers’ Index (PMI) – an early gauge of factory activity – came in at 49.6 for October.
Singapore businesses far less upbeat compared with rest of Asean: survey
Asean businesses may be among the most bullish in the world, but Singapore companies are far less confident about their growth prospects in the coming year, striking a worrying note for Singapore’s outlook as it struggles to get out of its slump amid a global economic slowdown. According to an annual global trade navigator report by HSBC, Singapore’s business sentiment is at odds with the rest of Asean…
CapitaLand Q3 earnings tumble 7.8% to S$333.9m
Asian real estate behemoth CapitaLand’s net profit for its third quarter dropped 7.8 per cent to S$333.9 million from S$362.2 million a year ago mainly due to lower portfolio gains, the group said in a Singapore Exchange filing on Tuesday morning. This was partially mitigated by a higher operating profit after tax and minority interest, which was mainly due to the maiden contribution from Ascendas-Singbridge…
SPH prices new perpetual at 4%
Singapore Press Holdings (SPH) has launched a perpetual issue on Monday, its second such deal this year. The issue, a perpetual non-callable 5.5 years, has been priced at 4 per cent, lower than an initial price guidance in the 4.25 per cent area, according to a term sheet seen by The Business Times.
No valuation done in disposal of UEL and WBL shares: Perennial
Amid raised eyebrows at the valuation of Perennial UW’s disposal of its stake in United Engineers Limited (UEL) and WBL Corporation for S$202 million, the Singapore Exchange (SGX) on Monday queried Perennial Real Estate Holdings on how it had arrived at the valuation for the UEL and WBL shares. Perennial replied that there was no valuer appointed for the transaction, and no valuation was conducted.
AA Reit DPU for Q2 flat at 2.5 S cents
Aims Apac Reit (AA Reit) on Tuesday posted a distribution per unit (DPU) of 2.5 Singapore cents for its second quarter ended Sept 30, unchanged from the year-ago period. Gross revenue was up 4 per cent to S$30.6 million for the quarter, from S$29.4 million last year.
Eagle Hospitality Trust units hit fresh low as investors take flight
Eagle Hospitality Trust (EHT) got its wings clipped again on Monday as new revelations about the Reit sponsor’s past transactions with certain substantial shareholders and concerns over the value of EHT’s second-largest asset, the Queen Mary, left investors nonplussed. EHT units fell by more than 11 per cent to an intraday nadir of US$0.465 before closing at a fresh low of US$0.475, down 9.52 per cent, or five US…
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As a private company, FEO has more options for Chancery Court
It’s been more than a year since Far East Organization (FEO) bought Chancery Court in Dunearn Road en bloc – yet there’s still no sign of the project being torn down for redevelopment. Typically, one would expect redevelopment work to have begun by now and hoarding bearing the main contractor’s name to be up around the site.
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