DAILY NEWS

Daily News – 5 Dec 2019

Singapore Real Estate

HDB resale prices up 0.6% in November in biggest month-on-month rise this year: SRX
[Singapore] Housing Board resale prices have notched their biggest month-on-month increase this year despite a smaller number changing hands, according to flash data from real estate portal SRX Property on Thursday. Resale prices, which through most of 2019 have moved within a -0.2 to +0.2 per cent range, rose 0.6 per cent in November from October. It is the biggest monthly increase since January’s 0.5 per cent rise…
https://www.businesstimes.com.sg/real-estate/hdb-resale-prices-up-06-in-november-in-biggest-month-on-month-rise-this-year-srx
https://www.straitstimes.com/business/property/hdb-resale-prices-up-06-in-november-in-biggest-month-on-month-rise-this-year

Leshan Gardens in Geylang sold for S$26.28m
Leshan Gardens, a 38-unit residential development off Geylang Road, is being sold for S$26.28 million by Kwong Wai Shiu Hospital, The Business Times understands. The buyer is an ear, nose, throat specialist doctor who also engages in the property business.
https://www.businesstimes.com.sg/real-estate/leshan-gardens-in-geylang-sold-for-s2628m

Collaboration is key to ride Asian student accommodation wave
University enrolment in the Asia-Pacific region has swelled due to an expanding middle-class and more students opting to pursue tertiary education. This surge in enrolment is expected to continue at a pace of 4.2 per cent per year globally until 2040 with East Asia and the Pacific accounting for the highest volume and largest share.
https://www.businesstimes.com.sg/real-estate/collaboration-is-key-to-ride-asian-student-accommodation-wave

Singapore Economy

Mega projects to fuel Singapore’s long-term tourism
Singapore’s two integrated resorts (IRs) have been a roaring success, but there’s been no let-up in efforts to keep the nation’s tourism momentum going. Over the next few years, the Mandai eco-tourism hub and Jurong Lake District, and S$9 billion in further commitments by the IRs are among the projects that will continue to excite visitors.
https://www.businesstimes.com.sg/government-economy/mega-projects-to-fuel-singapores-long-term-tourism

Cross Island Line to run under nature reserve
The future Cross Island Line will run directly under the central catchment nature reserve instead of skirting around it, the Ministry of Transport (MOT) announced on Wednesday evening. The government had decided on the “direct alignment” option of tunnelling 70 m underground after taking into account the findings from the Environmental Impact Assessment (EIA) study as well as public consultations over the…
https://www.businesstimes.com.sg/government-economy/cross-island-line-to-run-under-nature-reserve
https://www.straitstimes.com/singapore/transport/cross-island-line-to-take-direct-route-under-nature-reserve
https://www.straitstimes.com/singapore/transport/crl-will-improve-connectivity-across-island
https://www.straitstimes.com/singapore/transport/upper-thomson-residents-breathe-a-sigh-of-relief
https://www.channelnewsasia.com/news/singapore/cross-island-line-mrt-crl-direct-route-central-nature-reserve-12152290
https://www.todayonline.com/singapore/cross-island-line-govt-decides-direct-alignment-running-70m-under-nature-reserve-instead

Companies’ Brief

Keppel Reit obtains unsecured S$150m green loan facility
Keppel Reit’s manager announced on Wednesday that it has obtained an unsecured S$150 million green loan facility from OCBC Bank. This is Keppel Reit’s second green loan facility, following a S$505 million green loan facility obtained in June this year.
https://www.businesstimes.com.sg/companies-markets/keppel-reit-obtains-unsecured-s150m-green-loan-facility

MNACT buying 2 Tokyo offices that will help mitigate revenue loss from Festival Walk closure
Mapletree North Asia Commercial Trust’s (MNACT) manager announced on Wednesday that it is acquiring an effective interest of 98.47 per cent in two freehold office properties in Greater Tokyo, Japan for S$482.5 million (37.9 billion yen) from Mapletree Investments. The total acquisition cost comprises of the aggregate consideration of approximately S$477.7 million and the estimated professional and other fees…
https://www.businesstimes.com.sg/companies-markets/mnact-buying-2-tokyo-offices-that-will-help-mitigate-revenue-loss-from-festival

Manulife US Reit joining FTSE EPRA Nareit Global Developed Index
Manulife US Reit will be included in the FTSE EPRA Nareit Global Developed Index with effect from Dec 23, 2019, the manager of the pure-play US office real estate investment trust said in a bourse filing on Thursday. Jill Smith, chief executive officer of the Reit’s manager, said the Reit’s inclusion in the index signifies higher trading liquidity and visibility to institutional investors and property funds, as well…
https://www.businesstimes.com.sg/companies-markets/manulife-us-reit-joining-ftse-epra-nareit-global-developed-index

Thakral Corp sets up JV to invest in Japan properties
Mainboard-listed Thakral Corporation has set up a joint venture (JV) to invest in properties in Japan. The company on Wednesday night said it has incorporated new subsidiaries Thakral Umeda Properties (TUP), and Nihon Property Investments (NPI) in preparation for further investments in Japan together with other investors.
https://www.businesstimes.com.sg/companies-markets/thakral-corp-sets-up-jv-to-invest-in-japan-properties

Straits Trading to acquire property in Victoria, Australia for A$24m
The Straits Trading Company announced after trading hours on Wednesday that the Trust, an indirect 80 per cent-owned subsidiary of Straits Real Estate, is acquiring a mixed-use office and industrial property located in Mulgrave, Victoria for A$24 million (S$22.3 million). The property is a multi-tenanted mixed-use office and industrial property with a total net lettable area of 12,157 square metres located…
https://www.businesstimes.com.sg/companies-markets/straits-trading-to-acquire-property-in-victoria-australia-for-a24m