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Polling Day on Sept 11

Mark Friday, Sept 11 on your calendar. That is the day when up to 2.46 million eligible Singaporean voters will go to the polls at a general election (GE) that will probably see all 89 available seats being contested. After months of speculation, the date for the GE was finally confirmed on Tuesday at about 4pm when President Tony Tan Keng Yam issued the Writ of Election, an hour after news broke that he dissolved Singapore's 12th Parliament on the advice of Prime Minister Lee Hsien Loong.

Singapore Real Estate

Weak demand seen for two industrial sites put up for sale by JTC

Two sites zoned for heavier industrial use or Business 2 development at Tampines Industrial Drive (Plot 12) and Tanjong Penjuru were launched on Tuesday for sale by public tender, for which consultants are expecting to see weak demand due to their short 20-year tenures. Such softness was also evident in the bidding interest for the two tenders that closed on Tuesday that each drew five bids, they pointed out.

Norway fund among bidders for Asia Square Tower 1: sources

Norway's sovereign wealth fund is among bidders for BlackRock Inc's Asia Square Tower 1, an office building in Singapore's central business district, according to people familiar with the matter. CapitaLand Ltd, Singapore's largest developer, and Keppel Land Ltd have also made offers for the property, said the people, who asked not to be identified because the process is private. The office tower could be valued at more than S$3.5 billion, according to the people.

Companies' Brief

Six out of 13 S-Reits miss Citi's Q2 forecasts

"Good news was in relative short supply" for the second quarter in the S-Reits universe, Citi analysts said in a report following the closure of the latest earnings reporting season. The number of "misses" by S-Reits against forecasts remained elevated at close to half - six out of 13 - of Citi's S-Reits coverage for the fourth straight quarter, with only one Reit - Mapletree Industrial Trust (MIT) - beating the analysts' forecast. The other six were in line with expectations.

Global Economy & Global Real Estate