The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 7th July 2017

Singapore Economy

HDB resale volume slips 11.6% in June: SRX
Transaction volume and prices of Housing and Development Board (HDB) resale flats fell in June from the previous month, with both indicators clocking a noticeable dip from recent peaks, flash data issued by SRX Property on Thursday showed.  In June, 1,753 HDB resale flats were sold, an 11.6 per cent drop from the 1,984 transacted units in May, which itself was an 8.1 per cent rise from April’s volume.

Singapore, Germany to step up economic, security ties
Singapore and Germany are working on an enhanced Defence Cooperation Agreement, and yesterday signed a Joint Statement on Cybersecurity Cooperation.  They are also embarking on new areas of cooperation – including research and development for Industry 4.0, fintech and sports, Prime Minister Lee Hsien Loong said after meeting Chancellor Angela Merkel.

How to woo buyers? Mix store deals, online offers
In an increasingly competitive local landscape, retailers in the south are pulling out all the stops to attract shoppers during the annual Great Singapore Sale (GSS).  Shops in the area that The Straits Times approached cited using a variety of unconventional methods to boost retail sales and visitor footfall into their premises.

Singapore Real Estate

Beach Road reserve site up for sale
Keen competition expected for commercial plot which includes area’s old police station.  A Beach Road commercial site that includes the area’s old police station is finally hitting the market for sale.

Japan chain to open 1st overseas store here
Established Japanese fashion chain Lumine will open its first outlet outside Japan in Clarke Quay Central in November.  It will occupy about 10,000 sq ft of space on the second floor of the mall and will offer chic Japanese fashion and lifestyle brands with a focus on versatility, style and comfort. Its products are targeted at the fashion-loving working woman.

Jade Circle nursing home project revived
Singapore – The Jade Circle nursing home project, which was shelved in 2015, has been revived and is expected to be ready by the end of 2019.  The announcement was made jointly yesterday by the three bodies responsible for the project: The Lien Foundation, Khoo Chwee Neo Foundation, and Salvation Army Peacehaven Nursing Home (Peacehaven).


Companies’ Brief

GuocoLand sets July launch date for Robertson Quay condo
GuocoLand announced on Thursday that its latest development in the Robertson Quay area in District 9, Martin Modern, will be launched on July 22.  Although the developer did not confirm prices, PropNex CEO Ismail Gafoor, who worked with GuocoLand on this project, said the estimated average price is S$2,300 per sq ft.

Frasers Centrepoint unit acquires 76.5% stake in German logistics facility owner for 20.5m euros
A unit of Frasers Centrepoint has agreed to acquire a 76.5 per cent stake, worth 20.5 million euros (S$32.1 million), in a German company that has freehold interest in an automotive logistics facility in Germany.  It said on Friday in a filing to Singapore Exchange before market open that Geneba Properties NV has, through its wholly owned subsidiary Geneba RE19 BV, entered into a conditional agreement to acquire the stake in Harder, Gutperle, Harder & Gutperle GmbH GbR.

Early payout for FLT units issued before Thursday
Units of Frasers Logistics and Industrial Trust (FLT) issued before Thursday are expected to get an early payout, as 78 million new ones started trading on the same day, said the trust manager in a filing to Singapore Exchange.
FLT’s policy is to distribute its distributable income on a semi-annual basis to unitholders of FLT.

Sabana Reit drops plans to buy Eunos property
The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) said on Thursday it has terminated the put and call option agreement for the proposed acquisition of the property at 107 Eunos Avenue 3.  This followed feedback from unitholders, Sabana Reit and vendor General Cars Fleet Management, it said.

Global Economy & Global Real Estate

Fed consensus coming apart amid unease over low inflation

US housing finance system ‘unsustainable’: Fed’s Powell

Trade deficit narrows in May as exports hit two-year high

Norway’s housing market downturn gathers pace amid bubble fears

Japan retail sector coming under the radar of investors

EU and Japan emerge as champions of global free trade with new accord

Japan’s private sector ‘has key role in region’s economic integration’

Australian housing ‘bubble’ fears overblown: HSBC economist

Vancouver to impose fresh Airbnb rules

JD, Lazada face off in Indonesia, Asia’s next e-commerce prize

Vietnamese architect comes up with easy-to-erect dwelling for poor

Additional Articles of Interests — Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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