Singapore Real Estate

GuocoLand sells Beijing development project to China Cinda Asset Management

Singapore-listed developer GuocoLand is selling a large development project in Beijing for RMB10.5 billion (S$2.3 billion), in a deal that is expected to generate a net gain of RMB1.58 billion. The sale of the Dongzhimen (DZM) mixed-use development to China Cinda Asset Management provides an opportunity for GuocoLand to realise the development's capital value, the developer said in a stock marketing filing on Thursday (Aug 20).

http://www.channelnewsasia.com/news/business/singapore/guocoland-sells-beijing/2063832.html

http://www.bloomberg.com/news/articles/2015-08-20/china-cinda-to-buy-guoco-property-in-beijing-for-1-6-billion


Companies' Brief

First Reit

First Reit's recent Q2 2015 results were within our expectations and exhibited continued stable growth. We project First Reit's DPU growth to remain steady at 3 per cent for FY15 and one per cent for FY16, and have not factored in any potential acquisitions in our assumptions.

http://www.businesstimes.com.sg/companies-markets/brokers-take-139


Raymond Chia is back, with new outfit in tow

Raymond Chia, who resigned as CEO of Chip Eng Seng late last year, has emerged on the property scene again. LGB Corporation, the Singapore-incorporated outfit he set up in April this year, was in the news earlier this week for awarding the management contract for a 250-room hotel in Adelaide to Park Hotel Group.

http://www.businesstimes.com.sg/real-estate/raymond-chia-is-back-with-new-outfit-in-tow


How much can landlords ask for in this renter’s market?

Private apartment rents slipped another 0.3 per cent in July, SRX Property data showed. Since their peak in January 2013, private apartment rents have fallen 12.5 per cent, as the market has clearly shifted in favour of renters with landlords facing increasing competition from new supply amid decreasing demand.

http://www.todayonline.com/business/how-much-can-landlords-ask-renters-market?singlepage=true


Global Economy & Global Real Estate

Jobs returning to Spain construction sector while wages go nowhere

http://www.businesstimes.com.sg/real-estate/jobs-returning-to-spain-construction-sector-while-wages-go-nowhere


Ito's vision: rejuvenating Omishima Island and coexisting with nature

http://www.businesstimes.com.sg/real-estate/itos-vision-rejuvenating-omishima-island-and-coexisting-with-nature


Guangzhou developer cuts target, rules out price war

http://www.businesstimes.com.sg/real-estate/guangzhou-developer-cuts-target-rules-out-price-war


July home resales rise to highest level since February 2007

http://www.businesstimes.com.sg/government-economy/july-home-resales-rise-to-highest-level-since-february-2007


Trump's hotel group inks deal to manage luxury Bali resort

http://www.straitstimes.com/business/trumps-hotel-group-inks-deal-to-manage-luxury-bali-resort


Developer Peebles Says He’s Considering Run for New York Mayor

http://www.bloomberg.com/news/articles/2015-08-20/developer-peebles-says-he-s-considering-run-for-new-york-mayor


Developer Peebles Says NYC's De Blasio Is 'Anti-Success'

http://www.bloomberg.com/news/videos/2015-08-20/developer-peebles-says-nyc-s-de-blasio-is-anti-success-


Sears Posts Second-Quarter Profit on Gain From Real Estate

http://www.bloomberg.com/news/articles/2015-08-20/sears-posts-second-quarter-profit-on-gain-from-real-estate-sale