Real Estate Daily News
7 Feb 2020
Singapore Real Estate
New rules on qualifying cert offer reprieve to Singapore developers
Some Singapore-listed housing developers can now apply to be exempted from the Qualifying Certificate (QC) rules imposed on foreign housing developers, provided they have a "substantial connection to Singapore". This will spare them from having to pay hefty extension charges if they cannot meet stipulated deadlines to complete developing their projects and selling all the units.
Two freehold shophouses at Tanjong Katong up for sale at S$13m
A tender exercise has been launched for a pair of freehold four-storey conservation shophouses at Tanjong Katong Road. The two adjoining shophouses, which are being put up for sale by a family trust, are located within the Tanjong Katong Conservation area. The guide price is S$13 million for the property, which translates to an estimated S$1,127 per square foot (psf) on the existing gross floor area.
HDB resale market kicks off 2020 with upbeat sales in January
The Housing and Development Board (HDB) resale market has started the new year on an upbeat note. More HDB flats changed hands in January than in December, and their prices inched up by 0.5 per cent. In all, 1,920 resale flats were sold last month, 3.3 per cent more than December, according to flash estimates from real estate portal SRX on Thursday. That reversed a 3 per cent slide in December from the preceding month. It was also 23.1 per cent more than the 1,560 units sold in January 2019.
Sungei Kadut to pioneer manufacturing for future: Chan Chun Sing
Sungei Kadut is set for a multimillion-dollar face-lift that will see the area transformed into an eco-district that embodies the concept of live, work and play, based on a 30-year plan to enliven one of Singapore's oldest industrial estates. "Just as we did 50 to 60 years ago, we want Sungei Kadut to once again be the pioneer of manufacturing for the future…
Firms moving into Kranji Green set to gain from co-location
After 40 years of operating out of a "good class bungalow", multi-material recycling and waste management company Wah & Hua will move into a "condominium unit" at high-rise industrial facility Kranji Green when it is completed next year. Its current premises - a single-storey factory building - is about 80,000 sq ft, of which 50,000 sq ft is the production area..
CapitaLand Retail China Trust's Q4 DPU slips 3.3% to 2.34 S cents
CapitaLand Retail China Trust (CRCT) on Friday posted a distribution per unit (DPU) of 2.34 Singapore cents for the fourth quarter ended Dec 31, down 3.3 per cent from 2.42 cents a year ago. This was partially due to an enlarged unit base in Q4 2019 following a private placement and preferential offering in August and September 2019 respectively.
F&N Q1 net profit rises 4.6% to S$39.7m
Fraser & Neave (F&N) on Thursday saw first quarter net profit rise 4.6 per cent to S$39.7 million on the back of higher revenue across all segments, but warned of continued competition as well as volatile material prices. Revenue for the quarter ended Dec 31, 2019, was up 8.8 per cent year on year to S$505.2 million, lifted by better showings in all segments including beverages, dairies, and printing and publishing.
Frasers Property unit sets up A$2b multicurrency debt issuance programme
A subsidiary of Frasers Property has established a A$2 billion (S$1.87 billion) multicurrency debt issuance programme, the property developer said on Friday morning. Under the programme, the issuer - Frasers Property AHL - may offer notes and perpetual securities in Australian dollars or any other currency that is agreed on between dealers of the programme and the issuer.
Sembcorp Industries flags losses for energy division and S$245m impairments for Q4
Onglomerate Sembcorp Industries (SCI) has issued a profit guidance for its financial results for the fourth quarter ended last December and the fiscal year, flagging impairments of S$245 million. SCI, in a statement to Singapore Exchange (SGX) after trading hours, said its energy business - a key pillar of its three divisions - is "expected to make a net loss”
Listing of student accommodation assets a 'possibility': SPH
Listing its purpose-built student accommodation assets is a "possibility", among other opportunities it seeks to improve shareholder value, said Singapore Press Holdings (SPH) on Thursday. Its statement came after Bloomberg on Thursday - citing sources close to the matter - reported that SPH is planning to list those UK-based assets in Singapore through a real estate investment trust, in a deal that would value those properties at more than US$1 billion.
Elite Commercial Reit closes up 4.4% at £0.71 on trading debut
Units of Elite Commercial Reit got off trading on the front foot on Thursday, in the Singapore bourse's first mainboard debut of the year. The Reit's counter started trading at 2pm on Thursday at £0.705, 3.7 per cent higher than the initial public offering (IPO) price of £0.68 per unit. Prices gained steadily to eventually finish at £0.71, up 4.4 per cent on the IPO price.
The Hour Glass buys Auckland's Mansors Jewellers, NZ properties
Luxury watch retailer The Hour Glass is expanding to New Zealand by acquiring Auckland-based Mansors Jewellers and two prime retail and commercial properties in the city, it said on Thursday. The group is buying the entire operation of Mansors Jewellers, a family-owned business managed by three generations since it started in 1953.
Co-living firm Hmlet adds Tiong Bahru properties to collection
Singapore-Based co-living company Hmlet has signed a collection of properties in Tiong Bahru, bringing the number of properties it manages in Singapore to 48. The properties occupy 18,000 square feet across seven locations: Hoot Kiam Road, Zion Road, Tiong Bahru Road, Moh Guan Terrace, Chay Yan Street, Tiong Poh Road and Guan Chuan Street.
Views, Reviews, Forum & Others
Transforming Singapore into a sustainability hub
Sustainability needs are requiring change in business models and market behaviours worldwide. Issues surrounding climate change, pollution and resource scarcity, as well as social and political resistance to sustainability initiatives such as carbon taxes, remain key concerns for all governments and enterprises.
Budget 2020 will help those hit by coronavirus outbreak: Indranee
Budget 2020 will be "comprehensive", with "assurance and support" given to sectors hit by the coronavirus outbreak, Second Minister for Finance and Education Indranee Rajah said in a radio interview. While help will go to where it's need most, growth areas will not be ignored, she said on Thursday on Money FM 89.3.
SMEs seek sustainability and local support for the long haul
Singapore businesses, asked what they would like to see laid out in this year's Budget, have cited bread-and-butter concerns, though some also trained their sights on longer-term issues such as sustainability and support for local brands. The national business survey by the Singapore Business Federation (SBF), done last month, found increasing business costs and rising wages cited among the key concerns for businesses.
Coronavirus: New guide helps firms make contingency plans
Firms planning contingency measures to stay operational amid the coronavirus outbreak can refer to a new guide published by government agency Enterprise Singapore (ESG) on its website. Recommendations include appointing a flu manager to monitor developments and educate employees on the need for infection control measures, and discussing potential contingency measures with suppliers, service providers and customers.
Global Economy & Global Real Estate
Housing starts in UK edge up to highest level since 2007
Surprise for New York brokers: No more fees from renters
German mega-landlord's deal faces lender pushback
US trade deficit falls for first time in 6 years
ECB running out of room to fight global threats: Lagarde
UK hiring rise in new sign of post-election pickup
UK poverty increases despite low unemployment: report
China to cut tariffs on US$75b in US imports
Japan household spending falls 4.8% y-o-y in December
Additional Articles of Interests - Local & Overseas Real Estate
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