Singapore Economy

MAS: Chongqing township, new yuan quotas big boost to S'pore-China financial links

Singapore will enjoy a large boost in quota under the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme, and benefits at Singapore-China's third joint project, in Chongqing, the Monetary Authority of Singapore (MAS) said on Monday.

http://www.businesstimes.com.sg/government-economy/mas-chongqing-township-new-yuan-quotas-big-boost-to-spore-china-financial-links


Rising cost, regional rivals weaken Singapore's medical tourism appeal

Rising cost of treatment and growing competition from regional rivals are hitting the once-bullish medical hospitality sector in Singapore, which is already experiencing a decline in the number of medical tourists coming here.

http://www.businesstimes.com.sg/government-economy/rising-cost-regional-rivals-weaken-singapores-medical-tourism-appeal


Singapore Real Estate

S'pore's prime property market weakest in world

Singapore is home to the weakest-performing luxury residential market for the seventh consecutive quarter, according to the Knight Frank Prime Global Cities Index that tracks 34 cities worldwide. Prices of prime homes here fell the most in the third quarter but the rate of decline on a year-on-year basis slowed from 15.2 per cent at the end of the second quarter to 7.9 per cent at the end of the third quarter.

http://www.businesstimes.com.sg/real-estate/spores-prime-property-market-weakest-in-world


Two adjoining shophouses in Chinatown for sale

Singapore is home to the weakest-performing luxury residential market for the seventh consecutive quarter, according to the Knight Frank Prime Global Cities Index that tracks 34 cities worldwide. Prices of prime homes here fell the most in the third quarter but the rate of decline on a year-on-year basis slowed from 15.2 per cent at the end of the second quarter to 7.9 per cent at the end of the third quarter.

http://www.businesstimes.com.sg/real-estate/spores-prime-property-market-weakest-in-world


Roxy-Pacific buys residential land in Australia for A$15.65m

Roxy-Pacific Holdings on Wednesday said its subsidiary has entered into contracts to buy the land at 6A and 8 Buckingham Road, Killara New South Wales, Australia, for A$15.65 million (S$15.69 million). The properties have a freehold tenure with a land area of about 3,792.2 square metres. The vendor of the properties has obtained development approval to develop two residential flat buildings comprising 43 apartments and 63 residential car spaces.

http://www.businesstimes.com.sg/companies-markets/roxy-pacific-buys-residential-land-in-australia-for-a1565m


Rail Corridor ideas: URA picks winning firms; public feedback sought

http://www.businesstimes.com.sg/government-economy/rail-corridor-ideas-ura-picks-winning-firms-public-feedback-sought


Companies' Brief

New mall boosts Croesus's Q1 revenue, earnings; distributions flat

Croesus Retail Trust on Wednesday reported a distribution per unit (DPU) of 2.08 Singapore cents for its first quarter ended Sept 30, 2015, unchanged from a year ago.

http://www.businesstimes.com.sg/companies-markets/new-mall-boosts-croesuss-q1-revenue-earnings-distributions-flat


Industrial Reits 'doing better than expected'

Industrial real estate investment trusts (Reits) are performing better than expected, but office Reits continue to show signs of weakness, according to Barclays Research. In a report on Monday analysing seven Singapore-listed Reits (S- Reits), Barclays analyst Tricia Song noted that amid heightened economic headwinds between July and September, Reits stepped up acquisitions to diversify their portfolios.

http://www.straitstimes.com/business/companies-markets/industrial-reits-doing-better-than-expected


FCL's Aussie unit a potential asset pipeline for Singapore Reit

The recently minted retail business unit of the Australian arm of Frasers Centrepoint Limited (FCL) could potentially provide a pipeline of assets for acquisition by the group's Singapore-listed shopping centre Reit. It makes sense for Frasers Centrepoint Trust (FCT)

http://www.businesstimes.com.sg/companies-markets/fcls-aussie-unit-a-potential-asset-pipeline-for-singapore-reit


Potential investment in Golden Land gets nod

The board of Frasers Centrepoint Ltd (FCL) has approved a potential strategic investment in Golden Land Property Development Public Company (Gold), which is listed on the Stock Exchange of Thailand. FCL will invest 4.97 billion baht (S$196 million) for the subscription of new ordinary shares in Gold at 7.25 baht per share. This represents a premium of 1.4 per cent over the last closing price of Gold's shares on Nov 6.

http://www.businesstimes.com.sg/companies-markets/potential-investment-in-golden-land-gets-nod


Global Economy & Global Real Estate

Ascott's global fund acquires prime Paris, Tokyo properties for US$104m

The Ascott's US$600 million serviced residence global fund - a 50:50 joint venture with the Qatar Investment Authority (QIA) - has acquired two prime properties in Paris and Tokyo for US$104 million. The Ascott is the serviced residences arm of CapitaLand.

http://www.businesstimes.com.sg/companies-markets/ascotts-global-fund-acquires-prime-paris-tokyo-properties-for-us104m


Ken Dart reinvents himself as land baron

http://www.businesstimes.com.sg/real-estate/ken-dart-reinvents-himself-as-land-baron


Brooklyn's tallest building planned as office demand rises

http://www.businesstimes.com.sg/real-estate/brooklyns-tallest-building-planned-as-office-demand-rises


China major cities' October land revenues rise 24% y-o-y

http://www.businesstimes.com.sg/real-estate/china-major-cities-october-land-revenues-rise-24-y-o-y


Canadian housing starts drop in October

http://www.businesstimes.com.sg/real-estate/canadian-housing-starts-drop-in-october


Builder's suicide puts spotlight on red tape

http://www.businesstimes.com.sg/real-estate/builders-suicide-puts-spotlight-on-red-tape


Communities turn to land trusts as costs rise

http://www.businesstimes.com.sg/real-estate/communities-turn-to-land-trusts-as-costs-rise


Rise of luxury towers dims de Blasio's shine

http://www.businesstimes.com.sg/real-estate/rise-of-luxury-towers-dims-de-blasios-shine


Kempinski hotel chain accuses ex-CEO of stealing 6m francs

http://www.businesstimes.com.sg/real-estate/kempinski-hotel-chain-accuses-ex-ceo-of-stealing-6m-francs


McDonald's Decides Against REIT as It Focuses on Cutting Costs

http://www.bloomberg.com/news/articles/2015-11-10/mcdonald-s-decides-against-reit-as-it-focuses-on-cutting-costs


Chinese Millionaires Snub New Australian Stocks-for-Visa Program

http://www.bloomberg.com/news/articles/2015-11-10/chinese-millionaires-snub-new-australian-stocks-for-visa-program


Seoul Office Vacancy to Stay High as Economy Slows, Savills Says

http://www.bloomberg.com/news/articles/2015-11-10/seoul-office-vacancy-to-stay-high-as-economy-slows-savills-says


Growthpoint Partners With Investec, IFC on Africa Real Estate

http://www.bloomberg.com/news/articles/2015-11-10/growthpoint-partners-with-investec-ifc-on-africa-real-estate