The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8 Feb 2023 (Wed)

Singapore Real Estate


Holland Tower on the market with S$76 million guide price
Holland Tower has been put up for collective sale with a guide price of S$76 million, translating to a land price of about S$1,739 per square foot per plot ratio (psf ppr). The 14-storey apartment at 10 Holland Heights was completed around 1976 and comprises 19 residential units.


Goodbye JCube: New 40-storey project to boost housing supply in Jurong Lake District
JCube, a leisure and edutainment mall in Jurong East, is set to close its doors in August to make way for a 40-storey residential and commercial development. The move comes after CapitaLand Development (CLD), the development arm of CapitaLand Group, obtained provisional permission from Singapore’s Urban Redevelopment Authority to redevelop the JCube site, it announced on Tuesday (Feb 7).


More properties may go on the block as bankruptcy petitions rise
Singapore: More homes in Singapore could be up for auction this year as the number of bankruptcy petitions rises, according to real estate consultancy Knight Frank. This comes amid the higher cost of living, rising interest rates and the reduction of pandemic support measures, it said in its latest report on the auctions market on Jan 30.


Singapore, Dubai to lead price growth in prime residential markets amid slowdown worldwide
Singapore and Dubai will lead prime residential markets globally in 2023, with capital values in the two wealth magnet cities projected to grow 6 to 7.9 per cent, said Savills on Tuesday (Feb 7). But it noted that both markets are not immune to higher interest rates and wider economic headwinds.


HDB BTO oversupply not the answer to home affordability: Desmond Lee
An oversupply of Build-To-Order (BTO) flats is not the answer to keeping public housing affordable and accessible, said National Development Minister Desmond Lee in Parliament on Tuesday (Feb 7).


Govt ‘careful in calibrating HDB flat supply to meet demand’, says Desmond Lee as Parliament rejects PSP’s public housing motion
Singapore —  The Government has and will continue to be careful in calibrating public housing flat supply to meet demand as there are real dangers of oversupply, said National Development Minister Desmond Lee on Tuesday (Feb 7).



Singapore Economy


Singapore, Vietnam need to step up cooperation in digital economy, sustainable development: Vivian
Even as Singapore and Vietnam strengthen cooperation in traditional areas like trade and investment, there are many opportunities to work closer together in new growth areas, said Singapore’s Foreign Minister Vivian Balakrishnan.


List of eligible international carbon credits for tax offsets in S’pore to be released in 2023
Singapore – A list of acceptable international carbon credits that are eligible to offset Singapore companies’ taxable carbon emissions will be published later this year, said Minister for Sustainability and the Environment Grace Fu in Parliament on Tuesday.


Tech leaders’ wishlist for Singapore Budget 2023 (Part 2)
It is an open secret that technology can help companies weather an economic downturn by playing a major role in enabling businesses to increase resiliency. As such, tech industry leaders are hoping the Singapore Budget 2023 will include measures that will further encourage businesses in the country to digitally transform. Here’s what they hope to hear during the announcement next Tuesday.



Companies’ Brief


Centurion unit to develop A$132.2 million student accommodation in Sydney
Centurion Properties, the parent company of Singapore Exchange-listed Centurion Corporation, is planning to develop an A$132.17 million (S$121.5 million) student accommodation in Sydney through its Australian unit.


GuocoLand’s aim at more modest tenants for Beach Rd project could optimise recurring income
The office tenant list at Guoco Midtown has not been a headline-grabbing one. There are few flashy names and no super anchor tenant. Yet, its developer GuocoLand may have a winning formula for recurring income.


Lendlease Global Commercial REIT announces DPU of 2.45 cents for 1HFY2023
Lendlease Global Commercial REIT (LREIT) has reported a distributable income growth of 95.9% y-o-y to $56 million in its 1HFY2023 ended December, translating to a distribution per unit of 2.45 cents.


Oxley sells nearly 60% of Jewel by Oxley KLCC for $93 mil in pre-sales
Oxley Holdings has sold nearly 60% of Jewel by Oxley KLCC for RM302 million ($93 million) during its pre-sales. Jewel was pre-launched by the group “amid rousing interest”. Jewel, which is located within Oxley Towers KLCC, is a freehold mixed development comprising five-star hotels, an office tower and a retail podium.



Global Economy & Real Estate


Federal Reserve’s Powell says job strength shows inflation fight may last ‘quite a bit of time’


US trade deficit widens; goods exports at 10-month low


HSBC says the ‘headwinds are ahead’ for UK mortgage holders


UK property investors include Kremlin allies: study


UK house prices stabilise after four-month fall, Halifax says


Australian central bank lifts rates to 10-year high


No new variants in weeks after China ended zero-Covid: study


China reopening: Singapore businesses in country hit by Covid surge but remain optimistic


More effective measures necessary to combat soaring prices: Korea Herald



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