The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 22 Mar 2023 (Wed)

Singapore Real Estate


URA tender draws 4 bids for assisted living development at Parry Avenue
The state tender for a pilot private assisted living development at Parry Avenue has drawn muted results, with just four bidders. One was submitted by a consortium consisting of Evia Real Estate, Allium Healthcare, Yuan Ching Development and YK Realty (which is linked to logistics and real estate tycoon Tan Yeow Khoon).


Six-storey shophouse in Boat Quay sold for S$37 million
Wah Loon Engineering founder Alan Chong is understood to have sold a landmark six-storey shophouse in Boat Quay for S$37 million, making a nice gain over the S$21.35 million he paid for the 999-year leasehold property in 2018.


Industrial building in Yishun for sale at $19.2 mil
Singapore (EdgeProp) – A light industrial building at 543 Yishun Industrial Park A is up for sale via an expression of interest exercise with an indicative price of $19.2 million. The five-storey property has a land area of 80,962 sq ft zoned for Business 1 use with a plot ratio of 2.5. According to marketing agent Edmund Tie, it has a balance lease term of around 31 years.



Companies’ Brief


APAC Realty expands ERA franchise to Laos
Singapore (EdgeProp) – APAC Realty, which operates the ERA brand, announced on March 21 that it had entered into a ERA Master Franchise Agreement with ERA Laos Co. Ltd. Under the Agreement, ERA Laos is granted exclusive rights to operate or grant memberships for the operation of ERA member broker offices in Laos.


DBS cuts Yanlord target price from $1.43 to $1.06
DBS Group Research has maintained its “buy” call on Yanloard Land Group. However, with lowered earnings forecast, analysts Jason Lam, Ken He, Dexter Chun and Ben Wong have cut their target price from $1.43 to $1.06.



Views, Reviews, Forum and Others


Singapore to replace colour-coded Dorscon framework with situational tier system
Singapore – Singapore is set to do away with the colour-coded Disease Outbreak Response System Condition (Dorscon) framework in favour of a more intuitive system of informing the masses about the public health situation.


Rental scams resurface, 305 victims lost S$1.7 million from January to sham property agents: Police
Singapore — At least 305 people have fallen victim since January to scams when trying to rent a place from people pretending to be property agents, losing at least S$1.7 million in the process. The police warned the public that such rental scams are re-emerging, with the culprits often pressuring the victims to make payment to secure a rental property even before viewing it.



Global Economy & Real Estate


To avert a financial crisis, the Fed seems poised to keep interest rates unchanged


US existing home sales rebound; year-over-year house prices fall


Silicon Valley Bank’s former owner, FDIC bracing for fight over US$2 billion


Slowly or all at once? The banking rescue dilemma


Rent inflation for US single-family homes drops near two-year low


UK commercial property values to fall more slowly in Q2: RIB


High interest rates sent home prices sliding in Sweden


Family-owned companies are more profitable and innovative, Credit Suisse says in survey of 1,000 wealthy clans worldwide


Credit Suisse tells Hong Kong clients to ‘embrace new reality’


Hong Kong opens doors to billionaires in family office push


Hong Kong financial system resilient to bank crisis, Lee says


Hong Kong think tank proposes measures to help open doors for young homebuyers locked out by high prices


Henderson Land’s profit slumps 29 per cent to US$1.2 billion, aims to launch 7,655 flats in Hong Kong this year


Japan to spend more than $15 billion for steps to combat inflation – govt



Disclaimer & Note:

Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.

Scroll to Top