SINGAPORE REAL ESTATE
En bloc deadlock to continue in 2023
Many residential collective sale sites will likely remain unsold next year, as a mismatch in price expectations between buyers and sellers continues. The situation is exacerbated by factors such as high replacement cost for homeowners, uncertain macroeconomic conditions for developers, as well as property cooling measures.
https://www.businesstimes.com.sg/property/en-bloc-deadlock-continue-2023
Car parks are valuable even if they risk becoming redundant
A time may come when car park spaces are redundant in many commercial buildings. But major car park owners need not panic, as car parks can potentially be repurposed. In land-scarce cities such as Singapore and Hong Kong, car parks have long held some appeal as investments.
https://www.businesstimes.com.sg/opinion-features/car-parks-are-valuable-even-if-they-risk-becoming-redundant
COMPANIES’ BRIEF
CapitaLand Investment in partnership to set up S$1b logistics fund
CapitaLand Investment (CLI) has partnered with a Thai real estate developer Pruksa Holding PCL (PSH) and Taiwanese logistics property developer Ally Logistic Property (ALP) to set up a S$1 billion logistics fund.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-partnership-set-s1b-logistics-fund
Keppel Corp to acquire Seoul office building for 220b won
Keppel Corporation is acquiring a freehold 15-storey office tower in Seoul, South Korea, for a purchase price of 220 billion won (S$228.7 million) from Hana Alternative Assets Management, a fund of Hana Financial Group.
https://www.businesstimes.com.sg/companies-markets/keppel-corp-acquire-seoul-office-building-220b-won
https://www.straitstimes.com/business/keppel-corp-to-acquire-seoul-office-building-for-228-million
Lendlease Global Commercial REIT included in GPR 250 Index and GPR 250 REIT Index
The manager of Lendlease Global Commercial REIT (LREIT), on Dec 19, announced that the REIT has been selected to be a constituent on the GPR 250 Index and GPR 250 REIT Index effective on the same day.
https://www.theedgesingapore.com/news/reits/lendlease-global-commercial-reit-included-gpr-250-index-and-gpr-250-reit-index
At least two data centre operators looking to expand capacity in S’pore under green pilot
Singapore – At least two data centre operators are looking to expand capacity in Singapore under new criteria drawn up by the local authorities to manage the sector’s carbon footprint in July. They are United States-based Digital Realty and Equinix, among the largest in the world.
https://www.straitstimes.com/business/at-least-two-data-centre-operators-looking-to-expand-capacity-in-s-pore-under-green-pilot
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US homebuilder sentiment extends record decline to 12 months
https://www.businesstimes.com.sg/property/us-homebuilder-sentiment-extends-record-decline-12-months
UK to extend mortgage-guarantee programme to boost housing market
https://www.businesstimes.com.sg/property/uk-extend-mortgage-guarantee-programme-boost-housing-market
UK factory output and export orders sag in December: CBI
https://www.businesstimes.com.sg/international/uk-factory-output-and-export-orders-sag-december-cbi
New Zealand business confidence plummets to record low, ANZ says
https://www.straitstimes.com/business/new-zealand-business-confidence-plummets-to-record-low-anz-says
German business morale rises more than expected in December: Ifo
https://www.businesstimes.com.sg/international/german-business-morale-rises-more-expected-december-ifo
Australia’s housing crisis, largely hidden, is getting worse
https://www.businesstimes.com.sg/property/australias-housing-crisis-largely-hidden-getting-worse
Australia facing economic time bomb amid surging interest rates
https://www.straitstimes.com/asia/australianz/australia-facing-economic-time-bomb-amid-surging-interest-rates
Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms
https://www.businesstimes.com.sg/international/australias-sovereign-wealth-fund-buys-gold-commodities-shadow-1970s-looms
Recovery in Asia M&A, stuck at 8-year-lows, rests on macro conditions
https://www.businesstimes.com.sg/international/global/recovery-asia-ma-stuck-8-year-lows-rests-macro-conditions
https://www.straitstimes.com/business/recovery-in-asia-ma-stuck-at-8-year-lows-rests-on-macro-conditions
Asian markets mostly weaker as investors question China reopening
https://www.channelnewsasia.com/business/asian-markets-mostly-weaker-investors-question-china-reopening-3156601
China housing sector to stay fragile; restoring confidence is key
https://www.businesstimes.com.sg/international/global/china-housing-sector-stay-fragile-restoring-confidence-key
China’s weekly new home sales rise slowly: survey
https://www.businesstimes.com.sg/property/chinas-weekly-new-home-sales-rise-slowly-survey
Rich Chinese step up hunt for foreign investment bets to mitigate risks at home
https://www.businesstimes.com.sg/international/rich-chinese-step-hunt-foreign-investment-bets-mitigate-risks-home
China’s Covid surge hits Beijing trading floors, Shanghai finance hub
https://www.businesstimes.com.sg/international/chinas-covid-surge-hits-beijing-trading-floors-shanghai-finance-hub
Japan budget proposal for FY2023/24 could be as high as 114t yen: Nikkei
https://www.businesstimes.com.sg/international/japan-budget-proposal-fy202324-could-be-high-114t-yen-nikkei
Malaysia’s exports up 15.6% in November, above economists’ forecasts
https://www.businesstimes.com.sg/international/malaysias-exports-156-november-above-economists-forecasts
Property crisis pressures Vietnam to act before it’s too late
https://www.straitstimes.com/business/property-crisis-pressures-vietnam-to-act-before-it-s-too-late