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Real Estate Daily News

8 Oct 2019 (Tue)
2019

Singapore Real Estate

Bugis Cube up for collective sale at S$230m reserve price
Bugis Cube has been put up for collective sale via a public tender exercise at a reserve price of S$230 million, marketing agent Cushman & Wakefield said on Monday.  Located at 470 North Bridge Road, Bugis Cube is a six-storey commercial building with a basement carpark.
https://www.businesstimes.com.sg/real-estate/bugis-cube-up-for-collective-sale-at-s230m-reserve-price
https://www.straitstimes.com/business/property/bugis-cube-up-for-collective-sale-at-230m-reserve-price

 

Companies' Brief

Oxley acquires 60% stake in Pindan as settlement
Oxley Holdings has acquired a remaining 60 per cent interest in property firm Pindan Group for zero consideration, it said on Monday.  The 45.5 million shares in the Perth-headquartered company were transferred to Oxley in settlement of a claim by Oxley relating to Pindan failing to meet agreed performance targets. Oxley did not disclose details of these targets in its filing.
https://www.businesstimes.com.sg/real-estate/oxley-acquires-60-stake-in-pindan-as-settlement
https://www.straitstimes.com/business/companies-markets/oxley-makes-australia-property-firm-pindan-its-wholly-owned-unit

PropertyGuru lodges IPO prospectus to raise up to A$380m on ASX
South-east Asian real estate portal PropertyGuru, which counts buyout firms TPG Capital and KKR among its backers, is seeking to list on the Australian Securities Exchange (ASX).  In a prospectus lodged on Monday, the Singapore-based property technology (proptech) firm gave an indicative price range of A$3.70 to A$4.50 per share for the initial public offering (IPO).
https://www.businesstimes.com.sg/companies-markets/propertyguru-lodges-ipo-prospectus-to-raise-up-to-a380m-on-asx
https://www.straitstimes.com/business/companies-markets/propertyguru-seeking-337m-ipo-in-australia

Parkson Retail's independent auditor raises going concern doubts
Parkson Retail Asia's independent auditor has raised a "material uncertainty" about the department store operator's ability to remain as a going concern, the company announced on Monday.  However, Parkson added: "The board wishes to inform that the group has received undertaking from (ultimate holding company) Parkson Holdings Berhad to provide continued financial support for a period of 12 months from…https://www.businesstimes.com.sg/companies-markets/parkson-retails-independent-auditor-raises-going-concern-doubts

Hmlet ties up with property developer to expand into Japan
Singapore-based Hmlet has expanded its presence to Japan through a joint venture partnership with investor Mitsubishi Estate Co (MEC).  The move will see a combined investment of US$25 million to fund the expansion in the next three years, the co-living company said on Tuesday.
https://www.businesstimes.com.sg/garage/hmlet-ties-up-with-property-developer-to-expand-into-japan

 

Global Economy & Global Real Estate

UK house-price gains cool to slowest since 2013: Halifax
https://www.businesstimes.com.sg/real-estate/uk-house-price-gains-cool-to-slowest-since-2013%C2%A0halifax

M&G Prudential bets on London with £875m 'Gotham City' project
https://www.businesstimes.com.sg/real-estate/mg-prudential-bets-on-london-with-%C2%A3875m-gotham-city%C2%A0project

SIG slumps on profit warning as UK construction weakens
https://www.businesstimes.com.sg/real-estate/sig-slumps-on-profit-warning-as-uk-construction-weakens

China services sector growth falls to 7-month low: Caixin PMI
https://www.businesstimes.com.sg/government-economy/china-services-sector-growth-falls-to-7-month-low-caixin-pmi
https://www.straitstimes.com/business/economy/china-services-sector-growth-falls-to-7-month-low-caixin-pmi

Japan's August household spending rises for 9th month, but wages fall
https://www.businesstimes.com.sg/government-economy/japans-august-household-spending-rises-for-9th-month-but-wages-fall

Australian business confidence eases further in September: NAB survey
https://www.businesstimes.com.sg/government-economy/australian-business-confidence-eases-further-in-september-nab-survey

Malaysia to present expanded Budget to ward off trade war, slow growth
https://www.businesstimes.com.sg/government-economy/malaysia-to-present-expanded-budget-to-ward-off-trade-war-slow-growth
https://www.straitstimes.com/asia/se-asia/kl-set-to-expand-budget-amid-weak-economic-outlook

As Softbank's Oyo booms, some Indian hotels cry foul
https://www.businesstimes.com.sg/real-estate/as-softbanks-oyo-booms-some-indian-hotels-cry-foul

Rabobank plans to invest 5b euros in Dutch rental homes
https://www.businesstimes.com.sg/real-estate/rabobank-plans-to-invest-5b-euros-in-dutch-rental-homes-0

 

Additional Articles of Interests - Local & Overseas Real Estate

Local & Overseas Real Estate - Full Article
http://www.asiaone.com/business
http://www.btinvest.com.sg/property
http://www.stproperty.sg/articles-property/singapore-property-news/c/11

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