Real Estate Daily News
6 Nov 2019
Singapore Real Estate
New Bridge Road shophouse up for sale at S$19.5m; seller to build out rear extension
A prime four-storey conservation shophouse at 21 New Bridge Road has been launched for sale via tender at S$19.5 million, Colliers International said. That valuation price translates to around S$3,200 per square foot (psf) based on the proposed total gross floor area (GFA) of 6,062 square feet (sq ft), according to Colliers.
GIC, Charter Hall JV acquires A-grade office building in Sydney
Singapore's sovereign wealth fund, GIC, has entered into a joint venture (JV) partnership with Australia-listed property group, Charter Hall, to acquire an A-grade office building in Sydney for an undisclosed sum. The Jessie Street Centre in Parramatta CBD (central business district) in Sydney has a net lettable area of 53,900 square metres (sq m) and provides retail offerings as well.
Kampong Glam, Serangoon Gardens shophouses up for sale
Two commercial shophouses in Kampong Glam and Serangoon Gardens have been put up for sale via expression of interest at guide prices of S$6.9 million and S$8.5 million respectively, said sole marketing agent Knight Frank. The 999-year leasehold Kampong Glam property is located at 18 Bali Lane. The two-storey conservation shophouse with attic, which is currently tenanted, has a total built-up area of about…
Heritage Malay royal building turned into interactive-game space is disrespectful, say critics
Turning Gedung Kuning (Yellow Mansion), a historical Malay royal building in Singapore, into an interactive-game space has sparked criticism from the community that the move is "disrespectful". At its premises along Sultan Gate last Friday, Amazing Chambers Singapura officially launched its Singapore history and Malay-folklore themed interactive rooms, which use "escape room gaming technology", where people…
Singapore's net business formation lower than usual in 2019 so far
In the first nine months of 2019, net formation of business entities has been about a quarter lower than the average in recent years, Senior Minister of State for Trade and Industry Chee Hong Tat said in response to a parliamentary question on Tuesday. Net formation - the number of new entities formed, less the number which ceased - was about 9,900 for the first nine months of the year, 28 per cent less than the…
Sibor begins long-awaited slide; slips to 1.8% after hovering at 1.9-2% the past 10 months
Singapore's key short-term interest rate, which is used to price home loans, has finally begun its long-awaited slide following the latest cut by the US Federal Reserve to give a fillip to the world's biggest economy. Still, home buyers should not hold their breath because the three-month Sibor or Singapore interbank offered rate has remained high, relative to other benchmarks which have tumbled.
FLT Q4 DPU up 2.2% in Australian cents on higher revenue
Frasers Logistics and Industrial Trust’s (FLT) distribution per unit (DPU) rose 2.2 per cent to 1.82 Australian cents for its fourth quarter ended Sept 30, from 1.78 Australian cents a year ago However, in Singapore-dollar terms, DPU fell by 2.8 per cent to 1.73 Singapore cents, from 1.78 Singapore cents a year ago, the real estate investment trust (Reit) said on Wednesday morning.
ARA H-Trust buys 3 US hotels for US$84.5m; Q3 DPS of 1.77 US cents misses forecast
ARA US Hospitality Trust (ARA H-Trust) will acquire three Marriott-branded upscale select-service hotels in the United States for US$84.5 million, it said in a Wednesday morning bourse filing. The acquisition will be funded primarily by debt and internal cash resources.
Perennial posts Q3 net loss of S$9.9m on higher costs, absence of one-off gain
Higher finance costs and the absence of a one-off gain dampened results for real estate developer Perennial Real Estate Holdings for its third quarter ended Sept 30. It fell into the red, posting a net loss of S$9.9 million, from net profit of S$48.3 million in the preceding year.
AA Reit to raise S$100m from 3.6% notes due 2024
Aims Apac Reit (AA Reit) on Tuesday said it will issue S$100 million of 3.6 per cent notes due November 2024, as part of its S$750 million multicurrency debt issuance programme. The Series 001 notes will be issued at par, in denominations of S$250,000. The five-year notes will bear a fixed interest rate of 3.6 per cent per annum, payable semi-annually in arrear, the manager said.
KBS Prime US Reit posts Q3 DPU of 1.38 US cents
KBS Prime US Reit on Tuesday posted a distribution per unit (DPU) of 1.38 US cents for its third quarter, higher than its forecast of 1.31 US cents for the period, on the back of stronger rental income. This came as Q3 income available for distribution reached US$12.8 million, 5.4 per cent higher than the forecast for the quarter.
EHT clarifies values of 3 hotels acquired from sponsor
Eagle Hospitality Trust (EHT) on Wednesday said the original purchase prices for three assets which are part of the ASAP6 portfolio have not been disclosed and are not known to the Reit (real estate investment trust) manager. It was responding to recent media reports - one by The Edge regarding the valuation of the assets which comprise the ASAP6 portfolio it acquired from its sponsor, and another by BT on its sponsor…
Global Economy & Global Real Estate
Worst may be over for global economy amid signs of stabilisation
Chicago ranked the greenest place to work in the US
Marriott's profit misses estimates on slowing travel demand
Across China, buying an apartment just became a whole lot easier
Japan's services sector shrinks for first time since 2016 as sales tax hike kicks in: PMI
Japan's ageing, labour-starved construction industry gives economy a capex boost
Dubai putting the brakes on property
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