Real Estate Daily News
15th January 2019
Singapore Real Estate
Construction demand in Singapore strong, set to hit up to S$32b this year: BCA
Construction demand is expected to remain strong this year due to sustained public sector contracts, as the industry continues to recover from a challenging three-year spell. Total construction demand, which is the value of construction contracts to be awarded, is expected to be between S$27 billion and S$32 billion this year, despite additional cooling measures in the private property market and the delay in construction of the high-speed rail between Singapore and Kuala Lumpur last year.
Hotel Marrison in Little India for sale at S$28-30m by expression of interest
Hotel Marrison @ Desker, a 25-room boutique hotel in the Little India vicinity, has been launched for sale by expression of interest (EOI) by Knight Frank on Monday for a guide price of S$28-30 million. The property comprises six adjoining units of two-storey shophouses with an attic. It has retail shops located alongside, as well as an eating house on the ground floor. The hotel also has dual frontages onto Kampong Kapor Road and Desker Road.
MAS moves to attract listings, boost equity research talent
The Monetary Authority of Singapore (MAS) on Monday unveiled a S$75 million initiative to help boost equities research and enhance Singapore's status as a hub for equity listings. Announcing the initiative, called the Grant for Equity Market Singapore (GEMS), Finance Minister and MAS board member Heng Swee Keat said the grant would further Singapore's vision to serve as Asia's centre for capital raising and enterprise financing.
CapitaLand's S$11b buy is big, but will it be beautiful?
It will be big, but would it be beautiful? CapitaLand's S$11 billion proposed acquisition of Ascendas-Singbridge from Temasek Holdings will place it among the top 10 real estate investment managers globally. It would not just elevate its global profile significantly but also result in a sizeable expansion and diversification.
Tuan Sing divests units in Century Warehouse property
Property developer Tuan Sing Holdings announced on Monday that it has accepted a tender bid of S$48.5 million for all of its majority-owned Century Warehouse property. The property is an eight-storey freehold-industrial warehouse with a basement car park. It comprises 35 strata units with a total strata area of 56,539 square feet located in Pasir Panjang Road.
AA Group signs MOU with OneAsia for data centre development
AA Group on Monday signed a memorandum of understanding (MOU) with private company OneAsia Network to negotiate exclusively for a year towards a potential joint venture, investment or collaboration to build data centres at an industrial-zoned plot at 60 Benoi Road in Singapore. OneAsia's director and sole shareholder is Charles Lee Chung Tak, the founder and CEO of Hong Kong-based Legan Development and its subsidiaries, including OneAsia. Legan also has offices in mainland China, Vietnam, Thailand, Malaysia and Singapore.
ICP places 460m new shares at 0.85 Singapore cent apiece to CMIA
Hotel management company ICP has placed S$3.9 million worth of new shares representing a 14.78 per cent post-deal stake to private equity firm CMIA Capital Partners. The 460 million new ICP shares were priced at 0.85 Singapore cent apiece, which was a discount of about 3.41 per cent to the stock's 0.88 Singapore cent volume weighted average price on Jan 10. The shares traded at 0.8 Singapore cent at 9.21am on Monday, down by 11.1 per cent or 0.1 Singapore cent, before closing unchanged at 0.9 Singapore cent.
Lian Beng's Q2 earnings up 21%, despite revenue decline
Lian Beng on Monday posted a 21.3 per cent increase in net profit to S$7.7 million for its second quarter ended Nov 30, 2018. Revenue fell 15.3 per cent to S$79.9 million. The property developer and construction firm said that the revenue drop was mainly due to lower revenue from its property development segment, offset by an increase in revenue from the construction and investment holding segments.
Global Economy & Global Real Estate
Weak monthly China trade data points to slower growth ahead
Hong Kong's rural hinterland could hold key to chronic land crunch
Hong Kong's finance chief welcomes 'orderly' declines in home prices
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