Real Estate Daily News
15th February 2019
EDB sees S$8b to S$10b in fixed asset investments for 2019
Despite slowing global growth, the Republic is expected to attract S$8 billion to S$10 billion in fixed asset investment (FAI) commitments in 2019, in line with previous years, the Singapore Economic Development Board (EDB) said at its year-in-review briefing on Thursday. This is expected to generate some 16,000 to 18,000 jobs, in line with 2018's prediction but a step down from the 22,500 expected jobs in 2017. Total business expenditure per annum from these projects is expected to be S$5 billion to S$7 billion, similar to 2018's forecast.
RB Capital said to be in exclusive due diligence on Andaz hotel at Duo
RB Capital is understood to be conducting exclusive due diligence for Andaz Singapore at the Duo project with a view to buy the 342 room hotel. The hotel occupies the upper levels of the 39-storey tower in the Beach Road mixed development by M+S Pte Ltd, a 60:40 joint-venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdlings.
First Sponsor Q4 profit up 36.5% to S$58m
First Sponsor Group's fourth-quarter net profit rose 36.5 per cent to S$58.2 million from S$42.7 million a year ago, the mixed property developer announced on Thursday before the market opened. The group also said separately that it is in talks to buy a German hospitality asset through a share deal expected to be in the region of 50 million euros (S$76.7 million). Discussions are on-going and no definitive terms or formal legal documentation have been agreed upon or entered into.
Views, Reviews, Forum & Others
External risks remain key threat to developed Asia-Pacific economies
Positive domestic drivers such as the strength of personal consumption and expansionary fiscal policies are likely to sustain economic growth in the Asia-Pacific region, albeit at a slower pace owing to challenging times ahead for the region in 2019. In particular, the continued rise of service-based industries such as financial services, technology, education and health care will continue to support growth. The Asia-Pacific's total return for property is projected to be 7.6 per cent in 2019.
Global Economy & Global Real Estate
US mortgage applications drop further despite falling rates
Manhattan landlords shrink freebies, raise rents as demand grows
HK property market may cool further amid jitters
Carpenter preserves old Shanghai, one nail at a time
IHG buys Six Senses Hotels business for US$300m
Japan economy rebounds in Q4 but trade frictions remain a concern
Malaysia's economy speeds up in Q4 on improved exports
Additional Articles of Interests - Local & Overseas Real Estate
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