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.
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.
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.
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.
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.
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.
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US homebuilder sentiment extends record decline to 12 months
UK to extend mortgage-guarantee programme to boost housing market
UK factory output and export orders sag in December: CBI
New Zealand business confidence plummets to record low, ANZ says
German business morale rises more than expected in December: Ifo
Australia’s housing crisis, largely hidden, is getting worse
Australia facing economic time bomb amid surging interest rates
Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms
Recovery in Asia M&A, stuck at 8-year-lows, rests on macro conditions
Asian markets mostly weaker as investors question China reopening
China housing sector to stay fragile; restoring confidence is key
China’s weekly new home sales rise slowly: survey
Rich Chinese step up hunt for foreign investment bets to mitigate risks at home
China’s Covid surge hits Beijing trading floors, Shanghai finance hub
Japan budget proposal for FY2023/24 could be as high as 114t yen: Nikkei
Malaysia’s exports up 15.6% in November, above economists’ forecasts
Property crisis pressures Vietnam to act before it’s too late