Singapore Real Estate
Yarwood Ave GCB up for sale with S$20.8m guide price
A good class bungalow (GCB) in District 21 has been put on the market in an owner’s sale via private treaty, with a guide price of S$20.8 million, marketing agent Knight Frank told The Business Times (BT). That works out to about S$1,287 per square foot (psf), based on 16,163 square feet (sq ft) in land area.
Tussle over rent rebates thrusts unequal landlord-tenant relationship under spotlight
The ongoing tussle between tenants and landlords over rental rebates and support through the Covid-19 outbreak has thrown the spotlight on what is seen as an uneven relationship between the two; some quarters have called for more fair play through a review of the Fair Tenancy Framework.
Facade inspections for ageing buildings soon a must: BCA
In view of Singapore’s ageing building stock, facade inspections will soon need to be conducted every seven years for buildings that are more than 13 metres tall, once they are over 20 years old. This was one of the amendments made to the Building Control Act passed in Parliament on Friday.
HDB’s Green Towns plan ambitious but doable: Experts
A 10-year plan to make Housing Board (HDB) towns more environmentally sustainable and liveable is ambitious, but observers say it can be done. The HDB has lined up a range of initiatives that it believes can help it achieve its eco-target. One involving a new type of paint containing pigments that reflects the sun’s heat may go a long way in helping to cool estates.
Buybacks and director acquisitions surge
The five sessions spanning Feb 28 to March 5 saw 160 changes in director interests and substantial shareholdings filed for close to 70 primary-listed stocks. There were 38 company director acquisitions with four disposals filed, while substantial shareholders filed 19 acquisitions and nine disposals.
Considering the FLT-FCOT merger holistically
The consolidation in the S-Reits market that began two years ago looks set to continue in 2020, with two proposed mergers already announced. The proposed merger of Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) will be the first to be voted on this year.
Mandarin Oriental reverses to full-year net loss of US$55.5m
Dual-listed hotelier Mandarin Oriental’s underlying net profit – which excludes non-trading items – tumbled 37 per cent to US$41.2 million for fiscal 2019, down from US$64.9 million a year earlier. This came as the combined revenue of hotels under its management slipped 5 per cent to US$1.33 billion from US$1.4 billion in 2018.
Cromwell European Reit rides urbanisation wave
Listed on SGX in November 2017, Cromwell E-Reit is Singapore’s first real estate investment trust (Reit) with a diversified pan-European portfolio. The Reit owns 103 primarily freehold properties in or close to seven gateway countries – Denmark, Finland, France, Germany, Italy, the Netherlands and Poland.
Views, Reviews, Forum & Others
(Driving) towards a greener future
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
I think it is a very bold vision which will involve substantial financial investment and time as well as a strong commitment to climate change and public health. As it is a complex issue with many considerations and moving parts, the government has adopted a progressive and pragmatic approach to crystalise the plan as gleaned from Budget 2020, including incentives and adjustments to tax methodology as well as investing in a more centralised, high-speed charging infrastructure to support the new system and to encourage adoption of EVs.
FCOT should wait until DPU reflects AEI benefits before merging with FLT
The article “Reit mergers: Is NAV a useful guidepost of value?” by Ben Paul (BT, March 2) raises points that are thought-provoking but ultimately moot. The only practical way to value a Reit in a merger deal is to consider the market price of its units. But that does not mean that any transaction is fair simply because it was done at prevailing market prices.
Citi downgrades Singapore banks to ‘sell’
Citi Research on Monday downgraded the Singapore banks to “sell”, seeing further material downside on the trio’s share prices as the bank-brokerage expects short-term Fed interest rates to hit and stay at zero for much of the next nine months.
Covid-19 coverage – with caveats
Infectious diseases are a common occurrence, but every few years one crops up that elicits much concern and even alarm. The latest infectious disease is the Covid-19 which began in China but has now spread across the globe. The tally by the World Health Organization as at March 7 showed over 103,000 confirmed cases, of which more than 80,000 were in China.
Singapore Budget 2020
Budget 2020: Enhancing SMEs’ survivability in times of crisis
This year’s Budget, presented by Deputy Prime Minister and Finance Minister Heng Swee Keat, contains various schemes to ensure the survival of small and medium-sized enterprises (SMEs) in the face of a possible recession and of concern over Covid-19. The Budget seeks as well to place SMEs in a strong position for long-term, sustainable growth.
Investing in Singaporeans and Singapore’s future: 9 highlights from Committee of Supply debate
Parliament’s annual two-week debate on the spending plans of the Government and various ministries ended on Friday. Senior Political Correspondent Grace Ho highlights nine broad themes that emerged.
Update On COVID-19 (Coronavirus Disease 2019) situation
Singapore sets up SG Clean Taskforce in fight against Covid-19
Singapore authorities are stepping up public hygiene standards in the latest salvo against the coronavirus outbreak, acknowledging that border controls may eventually become less effective. This comes as confirmed Covid-19 cases worldwide cross 100,000, with numbers increasing rapidly outside China, where the coronavirus originated in late December.
No evidence yet that different virus ‘types’ could affect severity of condition
As viruses are not static but prone to mutation, it is no surprise that there are subtle variations in the coronavirus causing Covid-19, Associate Professor Kenneth Mak, director of medical services at the Ministry of Health (MOH), said yesterday. “This is naturally due to mutations and how the virus evolves,” he said.
Too many nations not doing enough to fight crisis: WHO
Geneva • The World Health Organisation (WHO) has warned that too many countries are not taking all the steps needed to fight the spread of the deadly coronavirus. WHO director-general Tedros Adhanom Ghebreyesus said he was concerned that a “long list” of countries were not showing “the level of political commitment” needed to “match the level of the threat we all face”.
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation
Global Economy & Global Real Estate
Condo sales begin at revamped Waldorf Astoria hotel in New York
Covid-19 will reshape economic thinking, create big buying opportunity
Down the rate-cut wishing well
Sovereign bond yields show the world is back in crisis mode
Sequoia Capital warns startups of Covid-19 ‘black swan’ event
Outbreak puts global stimulus in spotlight
US$ hammered as US Treasury yields sink
Asia-Pacific economies face US$211b hit from virus: S&P
US job growth boosts economy amid virus outbreak
Climate crisis on back-burner as concerns grow about outbreak
UK finance minister signals huge response to virus crisis in Budget
Berlin landlords seek to overturn rent-freeze law in court
Regional shares fall on fears of global recession
Sydney Opera House goes quiet . . . finally
China’s exports dip 17.2% in Jan and Feb; imports down 4%
Japan Q4 GDP revised down to 7.1% annualised contraction
Hong Kong asks residents to defer non-urgent travel
Thailand’s 2020 growth could be nearly flat due to virus, says Citi
Meet Thailand’s secret weapon in climate change battle
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article