Singapore Real Estate

Price, location still key factors for private home buyers: Market watchers

Getting world-renowned architects to design private housing projects may boost sales, but market watchers have said that pricing and locations remain key factors for buyers at large, especially in today's lacklustre market. The latest designer condominium to be completed in Singapore is Sky Habitat at Bishan Central, which had buyers collecting keys to their units in April this year. It is designed by Canadian architect Moshe Safdie, who is also the man behind Marina Bay Sands (MBS).

Sinarmas Land pulls out as Kailong Reit's investor

Real-estate developer Sinarmas Land said on Wednesday it has decided not to participate as a strategic investor in China's Kailong Reit. When contacted, a spokesman said this has more to do with the macroeconomic environment than any specific factors of the Reit per se.

CDL's next big monetisation moment: industrial properties

Something's brewing at City Developments Ltd (CDL), and it may not be what some had been expecting since the developer's S$1.5 billion monetisation of its Quayside Collection assets in December. While market observers have tipped the South Beach mixed development project as the next big monetisation target for CDL, what's more likely to emerge is the group's exit from the industrial market.

Bumper crop of shoebox units to come in 2017

High Park Residences in Sengkang has enjoyed roaring sales in recent weeks, but investors in its smaller units may have trouble leasing them out. Many shoebox units are coming onstream, peaking around 2017, according to data from R'ST Research. Most will be in District 19 - Hougang, Punggol and Sengkang - with at least 700 of them set for completion over this period, based on caveats lodged.

Strong S$ helps mid-tier hotels to outperform in May

In a reversal of recent trends, midscale hotels outperformed most hotel categories in May as the strong Singapore dollar prompted some tourists to opt for more affordable accommodation. Preliminary data from the Singapore Tourism Board shows that revenue per available room (RevPar) for mid-tier hotels was up 1.8 per cent to S$151 in May, while that of economy hotels slid 2.5 per cent to about S$84. For luxury hotels, RevPar sank as much as 9 per cent to S$358, while that for upscale hotels was down 1.5 per cent to S$216.

Companies' Brief

Global Logistic Properties

Global Logistic Properties (GLP) has announced it will divest five wholly owned properties in Japan to GLP J-Reit for 38.1 billion yen (US$306 million), which is in line with the properties' fair-market value as at June 30, 2015. . . We like that the group continues to expediently recycle capital for redeployment into future growth and higher return on equity. In particular, GLP J-Reit has been an effective long-term destination for the group's stabilised assets in Japan and will hold an estimated US$3.4 billion of assets under management after this transaction.

OUE C-Reit posts 2.6% rise in Q2 distributable income

OUE Commercial Reit (OUE C-Reit) registered a 2.6 per cent rise in income available for distribution to S$12.8 million for the second quarter ended June 30, exceeding its own forecast by 5 per cent. This was buoyed by higher net property income from the portfolio, which saw a 2.8 per cent year-on-year increase to S$14.7 million.

Amara second-quarter earnings dive 63%

Second-quarter revenue for real estate development and lifestyle group Amara Holdings decreased 3 per cent to S$19.14 million from S$19.69 million in the year-ago period. This was due to the absence of revenue from development property sold, the group said in a statement. Net profit for the quarter was down 63 per cent at S$1.71 million, compared to S$4.59 million in Q2 2014. The decline was also attributed to its newly opened hotel in Bangkok, which increased staff costs by 23 per cent to S$5.77 million.

Acquisition in the offing for Centurion, say analysts

Centurion Corporation looks likely to be making an acquisition soon, analysts at its results briefing surmised, citing its strong cash flow with no imminent debt due and its S$65 million medium term note (MTN) issuance last month without a clear use for the money.

Views, Reviews & Forum

'3 types of standards needed' for smart nation

To further Singapore's plan to become a "smart" nation powered by big data, analytics and sensor networks, a committee has identified three types of standards that need to be developed. These are in sensor networks, Internet-enabled objects or the Internet of Things, and domain-specific technologies such as those for healthcare and transport.

Global Economy & Global Real Estate