Real Estate Daily News
11th April 2019
Singapore Real Estate
Singapore condo and HDB rents rise in March: SRX
As leasings bounced back after the Chinese New Year (CNY) lull, rents for non-landed private homes edged up 0.3 per cent in March from February, while those for HDB flats inched up 0.2 per cent. This is according to flash estimates from real estate portal SRX on Wednesday. Condominium and private apartment rents remained unchanged in February from January, while HDB rents dipped a revised 0.1 per cent, said SRX.
Geylang freehold industrial site up for sale with S$23m asking price
A city fringe freehold redevelopment site at 51 Lorong 21 Geylang has been put up for sale with a S$23 million asking price or S$599 per square foot per plot ratio. Located 350 metres from Aljunied MRT station, the single-ownership property occupies a regular plot with a site area of 15,364 square feet (sq ft). The site has a gross plot ratio of 2.5, which means it can be redeveloped at a maximum gross floor area of 38,410 sq ft.
Singapore tops world maritime capitals ranking for 4th time
Singapore has again clinched the top spot in a biennial ranking of the world's leading maritime capitals, the fourth time it has done so. The Republic has consistently topped the Leading Maritime Capitals of the World report - released once every two years by risk management firm DNV GL and consultancy firm Menon Economics - since 2012 when it was first published. The latest report was released on Wednesday at the Sea Asia conference, held in conjunction with Singapore Maritime Week.
Mapletree Logistics Trust sells 5 Japan warehouses for 17.52b yen
Mapletree Logistics Trust (MLT) has sold five warehouses in Japan to Godo Kaisha for a total of 17.52 billion yen (S$213.2 million) in cash. In a regulatory filing on Wednesday, MLT's manager Mapletree Logistics Trust Management said that after evaluating all viable options and taking into consideration the older warehouse building specifications, limited future income growth and lack of redevelopment potential for the properties concerned…
Aspen in JV to develop M'sia residential project
Malaysia developer Aspen (Group) Holdings is in a joint venture (JV) to redevelop a piece of leasehold commercial land in Selangor, Malaysia into residential service apartments with full facilities. The total gross development value of the project is estimated at RM300 million (S$99.1 million). Aspen will pay landowner Selangor Agricultural Development Corporation (PKPS) RM58.8 million - which is 20 per cent of the project's gross development value…
First Reit Q1 DPU flat at 2.15 Singapore cents
First Real Estate Investment Trust (First Reit) on Wednesday reported a flattish distribution per unit (DPU) of 2.15 Singapore cents for the quarter ended March 31, despite a 114.8 per cent increase in property expenses, mainly incurred for Sarang Hospital and Indonesia properties. Distributable income was 0.9 per cent higher at S$17.1 million from S$16.9 million a year ago, according to the financial results for Q1 FY19 released after the stock market closed.
Ying Li appoints Provenance Capital as IFA for takeover offer
Chongqing-based property developer Ying Li International Real Estate has appointed Provenance Capital as its independent financial adviser (IFA) to advise its directors on a takeover deal. On April 4, the company announced that a unit of China Everbright, State Alpha, is making a mandatory unconditional cash offer for Ying Li at S$0.14 per share. The offer was triggered after the offeror bought about 767.1 million shares, representing about 30 per cent of the shares in the company…
AirTrunk raises S$450m to build Singapore data centre
Data centre startup AirTrunk has raised S$450 million in debt and equity to help build its first Singapore facility as part of a multi-billion dollar plan to become a regional technology powerhouse. The Goldman Sachs Group and TPG Sixth Street Partners-backed company has already spent more than A$1 billion (S$967 million) on two data centres in Australia and will open its Singapore facility in two phases, according to founder Robin Khuda.
Views, Reviews, Forum & Others
Are developer debt fears overblown?
As pundits squint at their recession-watch indicators and Hyflux becomes the latest cautionary tale, attention has fallen to Singapore's most leveraged companies and the question is where the next risks lie. A quick scan shows that property developers are the most highly-leveraged among large- and mid-cap firms, with their average interest cover having trended downwards since the property market peaked in 2013.
More HDB flats in the CBD?
Should there be HDB blocks in the CBD? This question of whether new public housing flats will be built in the Central Business District (CBD) has emerged after the Urban Redevelopment Authority (URA) launched its Draft Master Plan last month. A key part of the plan were incentive schemes to nudge developers to turn ageing offices into homes and hotels. The URA revealed plans to add 20,000 homes in the Central Area, which the CBD is a part of.
Global Economy & Global Real Estate
IMF warns of rising global debt levels
US core inflation cools amid shift in data methodology
IPOs are creating a burgeoning wealth crisis in San Francisco amid flush of tech cash
Britain's May accepts Brexit delay to Oct 31: Tusk
Pre-Brexit stockpiling boosts UK economic growth
House Prices in London, Southeast U.K. Forecast to Keep Falling
China's economy is looking better and better
China Consumer Inflation Surges on Food, Factory Prices Rebound
China's property market is feeling the stimulus effect
China home sales rebound in March
HK overtakes Japan as world's third largest bourse
Japan's February machinery orders rebound
Indonesia Construction Stocks Take Lead Before Next Week's Vote
Burj Khalifa developer recovers as investors get picky
Indian govt push for housing puts millions at risk of eviction
Additional Articles of Interests - Local & Overseas Real Estate
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