Singapore Real Estate

Surbana Jurong enlarges footprint in Africa, sharpens design might

Surbana Jurong Pte Ltd on Wednesday announced two equity investments that will entrench its presence in Africa and ramp up its building-design capabilities. It is taking a 20 per cent stake in CITICC (Africa) Holding Ltd, a US$300 million investment platform launched by International Finance Corporation (IFC) and Citic Construction Co in May to develop affordable housing in sub-Saharan Africa.

Condo resale volume up in Oct but at lower prices: SRX

Non-landed private residential resale prices fell 0.6 per cent in October after slipping 0.3 per cent in September. Transactions rose. Resale volume was up 9.8 per cent to about 505 condominium and apartment units, compared with 460 units resold in September. This was according to SRX Property's flash estimates released on Wednesday.

First Noku Roxy hotel opens in Kyoto

Property and hospitality group Roxy-Pacific Holdings officially opened the first hotel under its new upscale Noku Roxy brand. The newly-refurbished, six-storey boutique hotel in Kyoto, Japan, is next to the Kyoto Imperial Palace and near key tourist spots such as the Shimogamo Shrine, Nishijin Textile District and Teramachi Street.

Prime ground-floor unit at Shenton House to go under the hammer

A ground-floor shop/showroom unit at Shenton House with an indicative price of S$13.3 million, and an old semi-detached house along Marshall Road that is ripe for redevelopment will be making their auction debut at Colliers International's auction on Nov 20. The Shenton House unit is being offered by its owner - an investment company that has leased the 6,630-square-feet unit to a tenant that uses it as a jewellery shop and showroom.

Over S$70m asking price for school premises

A mixed bag of investment sales properties have been put on the market. These include school premises at Hillside Drive, off Upper Serangoon Road, with a price tag in excess of S$70 million; a light industrial building at 51 Ubi Avenue 3 with a S$32 million-S$33 million guide price; and a freehold mixed-use redevelopment site along Upper East Coast Road, the owners of which are expecting offers of above S$34.2 million.

Companies' Brief

New mall lifts Croesus Q1 results

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. Gross revenue rose 17.2 per cent to two billion yen (S$23 million). This was due mainly to the acquisition of One's Mall in Chiba, Japan, in October last year, and the tenant renewal exercise at Mallage Shobu in the Saitama Prefecture, it said.

UOL's Q3 profit slips 2% to S$101m

UOL Group, which on Wednesday posted lower third-quarter earnings and revenue, expects continued pressure in the months ahead for the residential property, office rental and hotel sectors. Net profit attributable to equity-holders slipped 2 per cent to S$101 million for the three months ended Sept 30, from S$103 million a year ago. This translated to earnings per share of 12.76 Singapore cents, against 13.23 Singapore cents for the year-ago period.

Saizen Reit's Q1 total return hit by fair value losses

Singapore-listed Saizen real estate investment trust (Reit) posted a 53.1 per cent drop in fiscal first-quarter post-tax total return attributable to unitholders to 204.1 million yen (S$2.36 million), dragged down by net fair value losses on financial derivatives as well as investment properties.

Views, Reviews & Forum

Singapore-China Ties: A new destiny in Chongqing?

A major takeaway from the Singapore-China talks that took place during last weekend’s state visit by President Xi Jinping was the third Government-to-Government project in Chongqing, with both countries also announcing that they will establish an “All-Round Cooperative Partnership Progressing with the Times”.

Fresh ideas applied to design of new neighbourhood centres

We thank Mr Lim Teck Koon for his interest in the Housing and Development Board’s (HDB) new neighbourhood centres (“Develop neighbourhood centres with character”; Oct 29). Over the past few years, the HDB has applied fresh design ideas and concepts to provide a complete live-work-play-learn environment for residents.

Global Economy & Global Real Estate

Park Hyatt set for launch in Thailand

Thailand's first Park Hyatt hotel will open its doors at Central Embassy near Bangkok's Ploenchit intersection in next year's first quarter after a delay of 18 months.

HKEx Q3 profit jumps on trading, property sale

China October property investment slows further

Ifei Chang steps down as CEO of Greenland's US unit

Airbnb making fat profits for property investors

Cement firm unable to pay bond holders

The Real Estate Manager Who’s Making the Queen Richer

Seven From Family-Run Real Estate Firm Die in Ohio Jet Crash

Listing Pushes Limits as Office Demand Surges Beyond Manhattan