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Real Estate Daily News

26 Jun 2020 (Fri)
2020

Singapore Real Estate

GCB in White House Park sells for nearly S$60m
A freehold bungalow in White House Park, near the Singapore Botanic Gardens, is being transacted for close to S$60 million. Market watchers believe the price has crossed S$1,600 per square foot (psf) based on the land area of 35,290 sq ft.
https://www.businesstimes.com.sg/real-estate/gcb-in-white-house-park-sells-for-nearly-s60m

ABI Plaza said to be on the market
ABI Plaza, a 12-storey freehold office building with triple frontages along Keppel, Tanjong Pagar and Lim Teck Kim roads, is understood to be on the market. Market observers suggest the pricing expectation may be above S$280 million.
https://www.businesstimes.com.sg/real-estate/abi-plaza-said-to-be-on-the-market

 

Singapore Economy

Asean Summit to discuss economic recovery, cross-border travel
The leaders of South-east Asia will meet virtually for the 36th Asean Summit today, after a nearly two-month delay because of the coronavirus pandemic. In line with this year's theme of being a "cohesive and responsive" inter-governmental body…
https://www.straitstimes.com/asia/se-asia/asean-summit-to-discuss-economic-recovery-cross-border-travel

 

Companies' Brief

ARA Logos Logistics Trust eyes sponsor's portfolio for growth
ARA Logos Logistics Trust has high hopes of growing its portfolio through asset acquisitions from its new sponsor, Logos, which has about about six million sqm of logistics space in Asia-Pacific, across China, India, Australia, New Zealand and South-east Asia.
https://www.businesstimes.com.sg/companies-markets/ara-logos-logistics-trust-eyes-sponsors-portfolio-for-growth

CapitaLand rolls out tech solutions at business parks, offices in Singapore
Property giant CapitaLand on Thursday said it is rolling out digital solutions at its business parks and offices in Singapore to help tenants cope with the "new normal" as their staff return to work in Phase Two's reopening.
https://www.businesstimes.com.sg/companies-markets/capitaland-rolls-out-tech-solutions-at-business-parks-offices-in-singapore-0
https://www.straitstimes.com/business/companies-markets/capitalands-solutions-help-tenants-with-new-normal

Far East Orchard books S$4.3m profit from sale of 62% of launched Woods Square units
Mainboard-listed hotel operator and property developer Far East Orchard on Friday said it has sold 62 per cent of the 208 units launched for sale in Woods Square, and recognised S$4.3 million in its share of the profit from the Singapore development as at March 31.
https://www.businesstimes.com.sg/companies-markets/far%C2%A0east%C2%A0orchard-books-s43m-profit-from-sale-of-62-of-launched-woods-square-units

Koh Bros says its Van Holland residence 22% sold; KBEE unit spin-off gets SGX nod
Construction, property and engineering firm Koh Brothers Group (KBG) said it has sold 22 per cent - or 15 of the 69 units - of its freehold luxury residence Van Holland as at Wednesday. This includes the 10 units moved during the Holland Village condo's launch weekend in January.
https://www.businesstimes.com.sg/companies-markets/koh-bros-says-its-van-holland-residence-22-sold-kbee-unit-spin-off-gets-sgx-nod
https://www.straitstimes.com/business/property/koh-brothers-sells-22-of-its-holland-village-luxury-condo

Starhill Global Reit extends appointment of property manager by 5 years
The manager of Starhill Global Real Estate Investment Trust (Starhill Global Reit) on Thursday entered into agreements to extend the appointment of the Reit's property manager by another five years from Sept 20, it said in a bourse filing.
https://www.businesstimes.com.sg/companies-markets/starhill-global-reit-extends-appointment-of-property-manager-by-5-years

 

Views, Reviews, Forum & Others

Central Asia good expansion option for Singapore startups
When Singapore startups are looking to expand overseas, the go-to destination has always been its backyard in South-east Asia. But in an increasingly competitive and mature market, where the fight for top tech talent is intense, this reflex strategy requires a rethink.
https://www.businesstimes.com.sg/opinion/central-asia-good-expansion-option-for-singapore-startups

 

Update on COVID-19 (Coronavirus Disease 2019) Situation

Business transformation more urgent now: Chee Hong Tat
The coronavirus pandemic has made business transformation even more crucial and the Government must support the push for change by providing a pro-enterprise environment, said Senior Minister of State for Trade and Industry Chee Hong Tat yesterday.
https://www.straitstimes.com/business/economy/business-transformation-more-urgent-now-chee-hong-tat

Task force expects rise in Covid-19 cases; testing being stepped up
THE number of Covid-19 infections will likely rise from next week, as Singapore enters week two of Phase Two of Singapore's reopening, said the Covid-19 multi-ministry taskforce on Thursday, adding that community testing efforts have been, and will continue to be expanded.
https://www.businesstimes.com.sg/government-economy/task-force-expects-rise-in-covid-19-cases-testing-being-stepped-up

Coronavirus: It will be Dorscon orange for some time yet, say task force chairmen
Singapore will not be moving down from Dorscon orange for some time to come because the country is still not out of the woods yet for Covid-19, said the two ministers chairing the multi-ministry task force tackling the outbreak.
https://www.straitstimes.com/singapore/health/it-will-be-dorscon-orange-for-some-time-yet-say-task-force-chairmen

Businesses that breach safety measures risk being shut down
Businesses and offices have to take safe management measures seriously or face consequences including the shutting down of their operations, National Development Minister Lawrence Wong warned yesterday. Speaking at a virtual press conference, he said the authorities will not hesitate to shut down operations immediately if there are egregious breaches.
https://www.straitstimes.com/singapore/businesses-that-breach-safety-measures-risk-being-shut-down
https://www.straitstimes.com/singapore/businesses-must-take-covid-19-measures-seriously-or-risk-being-shut-down-warns-task-force

VivoCity, Bugis Junction among places patients visited
Twelve places including 313@somerset, VivoCity and Bugis Junction are among the new places that Covid-19 patients visited. Besides these three malls, the other locations newly added to the list of places visited by the patients when they were infectious are the POSB branch at Kaki Bukit Recreation Centre…
https://www.straitstimes.com/singapore/vivocity-bugis-junction-among-places-patients-visited

Covid-19 testing for all above 13 who show up at clinics with infection signs
From July 1, all those aged 13 and above who show up at clinics with signs of acute respiratory infection will be tested for Covid-19, in an attempt to stem the spread of the disease as Singapore reopens its economy. The testing criteria are also being expanded as Singapore works towards the Ministry of Health's (MOH) goal of testing everyone who has an acute respiratory infection, when it has enough capacity to do so.
https://www.straitstimes.com/singapore/health/covid-19-testing-for-all-above-13-who-show-up-at-clinics-with-infection-signs
https://www.straitstimes.com/singapore/health/testing-for-all-aged-13-and-up-with-acute-respiratory-infection

Singapore may use saliva as it ramps up testing capacity
The use of saliva to test for Covid-19 is being considered by the health authorities here, as Singapore ramps up its testing capacity. Responding to queries from The Straits Times, the Ministry of Health (MOH) said it will "continue to review global and local clinical research and evidence on the feasibility of incorporating saliva testing into (its) testing regime".
https://www.straitstimes.com/singapore/singapore-may-use-saliva-as-it-ramps-up-testing-capacity

Coronavirus: Fast lanes based on multiple factors in partner countries
Singapore will review its fast lane arrangements and discussions with other countries based on the broad Covid-19 situations in those places and not on isolated flare-ups of new cases, National Development Minister Lawrence Wong said.
https://www.straitstimes.com/singapore/transport/fast-lanes-based-on-multiple-factors-in-partner-countries

Most migrant workers expected to be cleared of virus by end-July
By the end of next month, about 70 per cent to 80 per cent of foreign workers staying in dormitories in Singapore are expected to be cleared of the virus, allowing them to resume work. National Development Minister Lawrence Wong, in disclosing this at a virtual briefing yesterday, said these workers "would have either recovered or tested free of the virus".
https://www.straitstimes.com/singapore/health/most-migrant-workers-expected-to-be-cleared-of-virus-by-end-july

Two free reusable masks for all S'pore residents
Singapore residents will soon be able to get two free reusable antimicrobial masks each, thanks to Temasek Foundation. These can be collected during the next two weeks, starting from Monday at 10am to July 12, 11.59pm, from any of some 1,200 vending machines at bus interchanges, community centres and clubs, and residents' committee centres.
https://www.straitstimes.com/singapore/two-free-reusable-masks-for-all-spore-residents
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation

 

Global Economy & Global Real Estate

Global housing markets ensnared by pandemic's toll on jobs: poll
https://www.businesstimes.com.sg/real-estate/global-housing-markets-ensnared-by-pandemics-toll-on-jobs-poll

US initial jobless claims higher than forecast
https://www.businesstimes.com.sg/government-economy/us-initial-jobless-claims-higher-than-forecast
https://www.straitstimes.com/business/economy/us-layoffs-stay-high-as-weak-demand-lingers-despite-businesses-reopening

IMF warns markets at risk of correction
https://www.businesstimes.com.sg/government-economy/imf-warns-markets-at-risk-of-correction

Australia tech titans to build world's tallest 'hybrid timber' tower in Sydney
https://www.businesstimes.com.sg/real-estate/australia-tech-titans-to-build-worlds-tallest-hybrid-timber-tower-in-sydney

China's banking system under stress as economy slows
https://www.businesstimes.com.sg/banking-finance/chinas-banking-system-under-stress-as-economy-slows

 

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/1

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