The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 6 Dec 2019

Singapore Real Estate

Kampong Bugis, River Valley GLS sites up for application
The Urban Redevelopment Authority (URA) has made available for application a white site in Kampong Bugis and a hotel site in River Valley Road on the government’s reserve list.  The sites, which are on the reserve list in the second-half 2019 Government Land Sales (GLS) programme, were recently carried over to the first-half 2020 GLS programme.

Singapore keeps building until the buyers come
[Hong Kong] You’ll build and they’ll come? Well, don’t bet on it.  That’s what Singapore’s authorities seem to be telling property developers, who are flooding the market with new homes.


Companies’ Brief

Keppel Infrastructure unit to invest 53m euros for 20% stake in Swiss energy firm
Keppel Infrastructure Holdings subsidiary Keppel Energy Switzerland Holding is investing 53.02 million euros (S$80 million) for a 20 per cent stake in MET Holding (MET Group), an integrated European energy company headquartered in Switzerland.  In addition, Keppel Infrastructure and MET Group will enter into a strategic partnership to jointly explore investment opportunities in European energy infrastructure assets.

Mapletree Logistics Trust added to STI, Golden Agri-Resources dropped
Mapletree Logistics Trust has been added to the Straits Times Index (STI), while Golden Agri-Resources will be excluded, following the latest quarterly review of the STI by FTSE Russell.  The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, are: Suntec Reit, Mapletree Industrial Trust, Keppel Reit, Mapletree North Asia Commercial Trust and NetLink NBN Trust.

SPH Reit borrows A$205m to fund Australia mall stake purchase
SPH Reit has obtained A$205 million (S$194.8 million) in secured loans from Westpac Banking Corp to finance its proposed acquisition of a half-stake in Westfield Marion Shopping Centre.  Inked in November, the A$670 million deal for the freehold mall in Adelaide, South Australia, will also be funded by a S$300 million issuance of perpetual securities in August plus S$164.5 million raised from a private placement…

Cushman & Wakefield partners Suzhou Industrial Park
Commercial real estate services firm Cushman & Wakefield on Thursday said it will help Suzhou Industrial Park (SIP) expand investment opportunities. In doing so, Cushman & Wakefield will utilise its offices in South-east Asia. These include Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.  The partnership was announced following the signing of a memorandum of understanding (MOU) during SIP’s…

Sasseur Reit to join FTSE EPRA Nareit Global Emerging Index
Sasseur Real Estate Investment Trust (Sasseur Reit) will be included in the FTSE EPRA Nareit Global Emerging Index from Dec 23, its manager said on Friday.   The index, which tracks the performance of listed property companies and Reits in emerging markets, is a collaboration among FTSE Russell, the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (Nareit).

HK’s Raffles Family Office opens in Singapore
Hong Kong multifamily office Raffles Family Office has launched in Singapore with the intention of investing in startups, incubating other family offices and leveraging strategic partnerships to grow its client base.  The firm, which manages more than US$2 billion in assets, is looking to serve clients in the Asean region, though its existing clients in Greater China are also looking at diversifying.

Eagle Hospitality Trust to begin audit of Queen Mary lease agreement
An audit of the Queen Mary lease agreement by the City of Long Beach’s auditor will be commencing, in a bourse filing by Eagle Hospitality Trust (EHT).  The City of Long Beach indicated that an outside review of financial statements is a normal practice of good lease management. The upcoming audit of the Queen Mary’s financials and lease compliance will be the sixth audit of the Queen Mary conducted by the office.


Global Economy & Global Real Estate

South-east Asia’s economic growth ‘to stay at 4.5% next year’

China central bank injects 300b yuan via one-year medium-term loans, keeps rate unchanged

Toronto housing prices on the up amid tightening supply


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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