Singapore Economy

Singapore economy expands 1.9% in Q3

The Singapore economy expanded better than expected for the third quarter, helped by growth from the services sector. Gross Domestic Product (GDP) expanded by 1.9 per cent year-on-year for the July to September period this year, marginally lower than the 2.0 per cent growth in the preceding quarter, the Ministry of Trade and Industry (MTI) said today (Nov 25).

Singapore Real Estate

Suntec office deals see revival after drought in 2014

Suntec City has seen a revival in office transactions this year, reflecting a bridging in buyers' and sellers' price expectations after an absence of deals last year, when the office market was in runaway phase as one market watcher put it.

2 sites launched under industrial government land sales programme

JTC has launched a Confirmed-List site in Tampines Industrial Drive and a Reserve-List site in Woodlands Height under the industrial government land sales (IGLS) programme for the second half of this year. The site in Tampines occupies 0.41 ha and is zoned for Business 2 development. It has a 20-year tenure with a maximum gross plot ratio of 1.4. The tender for this site closes at 11am on Jan 19.

Companies' Brief

Sabana Shari'ah Compliant Reit 

The bulk of Sabana's expiring master leases will be due for renewal in two days. With no news forthcoming as yet, buying opportunity arises from the underwhelming share price performance. Our burndown scenario of halving occupancy and slashing 30 per cent in rentals for the affected master leases still implies a healthy 7 per cent yield. Maintain "buy" with a DDM (dividend discount model) -based target of S$0.92.

Service stars shine at hotel industry awards

It was a traveller's nightmare. A tourist from Melbourne arrived at the Festive Hotel at Resorts World Sentosa, only to find she had made a reservation for the wrong dates. Instead of turning her away from the fully-booked hotel, guest services executive Ivy Chui Peik Shin, 26, called several other hotels in the area, booked a room and arranged for a taxi to take the woman there. She even called the other hotel later to ensure all was well.

Mapletree Logistics Trust

Mapletree Logistics Trust has sold 20 Tampines Street 92 for $20 million, its manager said yesterday. Capital released from the sale will be used to fund investments while any divestment gain will be distributed to unit-holders after taking into consideration all relevant costs, expenses and tax provision, it added.

Views, Reviews & Forum

Make monetising HDB flats a more attractive option for seniors

Mr Paul Chan Poh Hoi put forward a case for increased subsidies from the Government for the pioneers ("Help pioneers struggling with retirement funds"; Nov 14). There is a more practical, long-term solution to the problem. Pioneers are not completely left behind, with the growth of Singapore's economy.

Consider security issues before automating homes

It was reported that ViewQwest will help home owners set up their smart homes for free when they buy a fibre broadband line ("ViewQwest makes play for market to automate homes"; last Friday). However, the service provider did not mention the security aspects of such an undertaking.

Global Economy & Global Real Estate

Economy grows at faster pace in Q3, GDP growth revised up to 2.1%

Greater London set to outperform prime in 2016

India mulls tax breaks to spur investment in housing

Sweden overwhelmed by housing crisis, says Skanska

Li Ka-shing's Power Assets buyout offer rejected

Blackstone Said in Talks to Sell L.A. Towers to Douglas Emmett

Hong Kong Office Market on Record Streak Led by Chinese

Home Prices in 20 U.S. Cities Increase 5.5 Percent in Year to September