The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8 Oct 2019

Singapore Real Estate

Bugis Cube up for collective sale at S$230m reserve price
Bugis Cube has been put up for collective sale via a public tender exercise at a reserve price of S$230 million, marketing agent Cushman & Wakefield said on Monday.  Located at 470 North Bridge Road, Bugis Cube is a six-storey commercial building with a basement carpark.


Companies’ Brief

Oxley acquires 60% stake in Pindan as settlement
Oxley Holdings has acquired a remaining 60 per cent interest in property firm Pindan Group for zero consideration, it said on Monday.  The 45.5 million shares in the Perth-headquartered company were transferred to Oxley in settlement of a claim by Oxley relating to Pindan failing to meet agreed performance targets. Oxley did not disclose details of these targets in its filing.

PropertyGuru lodges IPO prospectus to raise up to A$380m on ASX
South-east Asian real estate portal PropertyGuru, which counts buyout firms TPG Capital and KKR among its backers, is seeking to list on the Australian Securities Exchange (ASX).  In a prospectus lodged on Monday, the Singapore-based property technology (proptech) firm gave an indicative price range of A$3.70 to A$4.50 per share for the initial public offering (IPO).

Parkson Retail’s independent auditor raises going concern doubts
Parkson Retail Asia’s independent auditor has raised a “material uncertainty” about the department store operator’s ability to remain as a going concern, the company announced on Monday.  However, Parkson added: “The board wishes to inform that the group has received undertaking from (ultimate holding company) Parkson Holdings Berhad to provide continued financial support for a period of 12 months from…

Hmlet ties up with property developer to expand into Japan
Singapore-based Hmlet has expanded its presence to Japan through a joint venture partnership with investor Mitsubishi Estate Co (MEC).  The move will see a combined investment of US$25 million to fund the expansion in the next three years, the co-living company said on Tuesday.


Global Economy & Global Real Estate

UK house-price gains cool to slowest since 2013: Halifax

M&G Prudential bets on London with £875m ‘Gotham City’ project

SIG slumps on profit warning as UK construction weakens

China services sector growth falls to 7-month low: Caixin PMI

Japan’s August household spending rises for 9th month, but wages fall

Australian business confidence eases further in September: NAB survey

Malaysia to present expanded Budget to ward off trade war, slow growth

As Softbank’s Oyo booms, some Indian hotels cry foul

Rabobank plans to invest 5b euros in Dutch rental homes


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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