DAILY NEWS

Daily News – 7th, 8th and 9th Sep 2019

Singapore Real Estate

More than 90% of 300 Avenue South Residence units launched on first day sold
More than 90 per cent of the 300 launched units in Avenue South Residence were snapped up on Saturday, the first day of sales. UOL Group, which is part of the consortium behind the 1,074-unit development at Silat Avenue, said buyers were mostly Singaporeans, comprising both investors and homeowners.
https://www.businesstimes.com.sg/real-estate/more-than-90-of-300-avenue-south-residence-units-launched-on-first-day-sold

Singapore Economy

Digitalising built-environment sector ‘can attract the young to it’
Digitalising the built-environment sector will change the nature of work there, and make careers in the industry more attractive to young people, the chief executive of the Building and Construction Authority (BCA) said on Friday. Hugh Lim, speaking to about 300 C-suite executives at the International Built Environment Week 2019 held at the Sands Expo & Convention Centre, said the government’s efforts to…
https://www.businesstimes.com.sg/technology/digitalising-built-environment-sector-can-attract-the-young-to-it
https://www.straitstimes.com/business/ways-to-attract-the-young-to-join-built-environment-sector

Companies’ Brief

Keppel Pacific Oak US Reit buys Dallas property for US$101.5m
Keppel Pacific Oak US Reit, previously known as Keppel-KBS US Reit, has agreed to acquire an office complex in Irving, Dallas from KBS SOR 125 John Carpenter for US$101.5 million. One Twenty Five, which is made up of two class A buildings – 125 East John Carpenter and 5100 North O’Connor – is located in the submarket of Las Colinas, a key economic hub of North Central Texas with a high concentration of…
https://www.businesstimes.com.sg/companies-markets/keppel-pacific-oak-us-reit-buys-dallas-property-for-us1015m

Frasers Centrepoint Trust to raise stake in Waterway Point in S$90m deal
Frasers Centrepoint Trust (FCT) is looking to build its stake in Waterway Point to 40 per cent in a nearly S$90 million deal, just months after acquiring a one-third interest in the suburban mall. “This acquisition is aligned with our strategy of increasing FCT’s market share in Singapore’s suburban retail sector,” said Richard Ng, chief executive officer of FCT’s manager, Frasers Centrepoint Asset Management, in a…
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trust-to-raise-stake-in-waterway-point-in-s90m-deal

Tiong Seng unit clinches S$287m deal from JTC to build industrial building
Construction firm Tiong Seng Holdings said its unit has secured a S$287 million contract from JTC Corporation to build an industrial building at the latter’s Ang Mo Kio industrial Park. It will be a seven-storey industrial ramp-up multi-user building with ancillary facilities. Site possession is expected in September.
https://www.businesstimes.com.sg/companies-markets/tiong-seng-unit-clinches-s287m-deal-from-jtc-to-build-industrial-building

EC World Reit bullish on e-commerce
While the rest of the world frets about trade wars and a China slowdown, the chief executive of EC World Reit’s manager remains calmly bullish about e-commerce in Asia’s largest economy. “If the economic growth slows, more consumers are likely to pivot to e-commerce purchases as it offers better value for money,” says Goh Toh Sim, executive director and CEO of the manager of EC World Reit. “Moreover, the…
https://www.businesstimes.com.sg/companies-markets/ec-world-reit-bullish-on-e-commerce

Views, Reviews, Forum & Others

A win-win option for all

Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
A reasonable level of certainty to enforce the desired settlement outcome is very important. Alternative dispute resolution (ADR) mechanisms are less formal and often considered as cost-effective solutions to expedite resolutions of disagreements or disputes in business. They also take on a less adversarial approach, which reduces the risks and costs of damaging relationships and tarnishing reputations, and…
https://www.businesstimes.com.sg/views-from-the-top/a-win-win-option-for-all

Help young singles who move out of parents’ home to buy flat
Any improvements to the process that single unwed parents have to go through for their housing needs will be welcomed and appreciated (HDB to review how it interacts with single unwed parents, Sept 3). The Housing Board should also look into helping singles whose parents can no longer house them – having downsized to a smaller flat or studio apartment in order to unlock their retirement savings – to access…
https://www.straitstimes.com/forum/letters-in-print/help-young-singles-who-move-out-of-parents-home-to-buy-flat

12 things to consider when investing in Reits
Volatility continues to unsettle markets, but real estate investment trusts (Reits) remain a sweet spot with relatively high yields and stable dividends. Indeed, institutional investors have been turning away from private equity real estate and infrastructure investment in favour of liquid funds that put their money to work faster, notes Mr Geoff Howie, market strategist at the Singapore Exchange (SGX).
https://www.straitstimes.com/business/invest/12-things-to-consider-when-investing-in-reits