Singapore Economy

Vision of a 'people's garden' at Jurong Lake

When the Jurong Lake Gardens is finally complete and open to the public, it will showcase a new type of green lung in Singapore's largest regional hub outside the city centre. The National Parks Board (NParks) yesterday gave a glimpse of the idyllic charms the area could offer, and called a tender for consultants to design the central and eastern parts of the gardens.

http://www.straitstimes.com/singapore/vision-of-a-peoples-garden-at-jurong-lake


Integrating tech and nature in Jurong

The new plans for Jurong Lake Gardens show how technology can be integrated with nature, while giving residents a green reprieve from the bustling city life. The Gardens will feature smart technology, and serve as a place for green industries to testbed their products.

http://www.straitstimes.com/singapore/environment/integrating-tech-and-nature-in-jurong


Singapore Real Estate

Ascott secures 50-unit serviced residence at one-north

Capitaland's serviced residence business unit, The Ascott, has snagged a lease award from JTC Corporation for a prime property in Singapore's one-north business park. Ascott's newly added property is a 50-unit serviced residence in the business park, which houses more than 400 companies. The serviced residence is currently operating and will be rebranded to Citadines Fusionopolis Singapore from April 1, 2016.

http://www.businesstimes.com.sg/real-estate/africa-beckons-as-surbana-jurong-eyes-40-60-of-revenue-from-overseas-in-3-5-years

http://www.straitstimes.com/business/companies-markets/ascott-obtains-lease-on-one-north-property


Orchard Road and Tampines foodcourts up for sale

A foodcourt in Orchard Road and one in Tampines are up for sale by expression of interest. A foodcourt in Midpoint Orchard with a strata floor area of 2,648 sq ft has a guide price of $11 million to $12 million. It has space for about four stalls.

http://www.straitstimes.com/business/property/orchard-road-and-tampines-foodcourts-up-for-sale


Companies' Brief

Frasers Centrepoint

We remain excited about the planned asset enhancement initiative (AEI) and integration of the Northpoint asset with the extension wing currently built by the sponsor. With an enlarged footprint, we see Northpoint as a key driver in accelerating growth in the medium term.

http://www.businesstimes.com.sg/companies-markets/brokers-take-237


Hongkong Land 

While the performance of the Hong Kong Grade-A office market has been resilient so far against falling prices/rents in retail/residential, we expect the office market to soften alongside a weakening economy and an upcoming supply peak in 2017.

http://www.businesstimes.com.sg/companies-markets/brokers-take-237


Hotel Properties

While management expects the group's hospitality results to remain fairly resilient given the strong branding and geographical diversification of their hotel portfolio, they anticipate challenging conditions ahead given stiff competition, uncertainties in the global economic environment, and difficult political and environmental conditions of the countries the group operates in.

http://www.businesstimes.com.sg/companies-markets/brokers-take-237


OUE H-Trust plans S$238m rights issue to buy hotel extension

OUE Hospitality Trust (OUE H-Trust) is carrying out an underwritten rights issue to raise S$238.6 million in gross proceeds to fund the purchase of the Crowne Plaza Changi Airport hotel extension. OUE H-Trust is a stapled group consisting of OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust.

http://www.businesstimes.com.sg/companies-markets/oue-h-trust-plans-s238m-rights-issue-to-buy-hotel-extension


Global Economy & Global Real Estate

Forest City developer presses ahead amid reclamation issues

The mega Forest City project off Johor Baru seems to be going full steam ahead despite ongoing controversy over its reclamation plans and even as other developers have either shelved scheduled project launches or dropped them altogether. Forest City's China developer Country Garden has already started work on one of the four islands that will eventually comprise the largest mixed development in Johor Baru. The project has an estimated value of $58.3 billion and is slated to be completed in phases over the next two decades.

http://www.straitstimes.com/business/property/forest-city-developer-presses-ahead-amid-reclamation-issues


China set to crack down on loans for home downpayments

http://www.businesstimes.com.sg/real-estate/china-set-to-crack-down-on-loans-for-home-downpayments


HK home sales tumble 70% as slowdown intensifies

http://www.businesstimes.com.sg/real-estate/hk-home-sales-tumble-70-as-slowdown-intensifies


Mitsubishi Estate to build 50b yen 'Marunouchi' of Myanmar

http://www.businesstimes.com.sg/real-estate/mitsubishi-estate-to-build-50b-yen-marunouchi-of-myanmar


Canada revs up hunt for foreign flows into housing market

http://www.businesstimes.com.sg/real-estate/canada-revs-up-hunt-for-foreign-flows-into-housing-market


Trump-branded tower is funded by rich Chinese who invest cash for visas

http://www.businesstimes.com.sg/real-estate/trump-branded-tower-is-funded-by-rich-chinese-who-invest-cash-for-visas


Yangon faces growing pains in real estate

http://www.businesstimes.com.sg/real-estate/yangon-faces-growing-pains-in-real-estate


Commodities Rebound Hinges on China's Real Estate Market: Chart

http://www.bloomberg.com/news/articles/2016-03-07/commodities-rebound-hinges-on-china-s-real-estate-market-chart


U.S. Commercial Property Prices Drop for First Time in Six Years

http://www.bloomberg.com/news/articles/2016-03-07/u-s-commercial-property-prices-drop-for-first-time-in-six-years