Singapore Economy

Singapore ranks 7th in liveable cities index

Singapore dropped four positions to seventh place in the Global Liveable Cities Index, according to the results of a study released on Thursday (Nov 26). The index is a ranking of the world's most liveable cities, compiled by the Asia Competitiveness Institute (ACI) at National University of Singapore’s Lee Kuan Yew School of Public Policy.

Singapore Real Estate

More benefit from housing policy changes in Nov sales exercise: Lawrence Wong

The bumper launch of 12,411 new flats this month has received a “healthy” response, with more Singaporeans benefiting from recent housing policy changes, National Development Minister Lawrence Wong said on Thursday (Nov 26).

Bidadari flats big draw in latest HDB BTO sale

Flats in the upcoming Bidadari estate drew overwhelming subscriptions in the Housing and Development Board's (HDB) November launch of new flats, which saw a warm response overall. Despite their higher prices, flats at the three Bidadari build-to-order (BTO) projects drew the highest application rates among all the projects.

Higher income ceilings benefit over 2,000 BTO applicants

At least 2,100 families and 220 singles who applied for new flats this month were newly eligible due to higher income ceilings. National Development Minister Lawrence Wong gave these figures on his blog yesterday, to show how changes have benefited buyers.

CDL buys landmark brewery site in UK for S$335m

City Developments Limited, currently on an overseas diversification drive, is buying a landmark brewery site in Southwest London for £158 million (S$334.96 million). The land parcel - located beside River Thames and 200 metres away from the rapid overland train link to Central London's mainline station Waterloo - was occupied by Stag Brewery, which is owned by leading global brewer AB InBev which was closed only recently.

Ascendas clinches CPF Building for S$550m

Ascendas, which won the tender for the CPF Building at 79 Robinson Road, with its top bid of S$550 million, plans to redevelop the property into a Grade A CBD office project with supporting retail elements, the company said. The tender, which closed on Oct 28, drew three bids. The results were announced by the Central Provident Fund Board on Thursday.

Consultants expect warm interest in Siglap residential site

Warm bidding interest from developers is expected for a residential site in Siglap Road launched for public tender by the Urban Redevelopment Authority (URA) on Thursday. The site, in a residential area near East Coast Park and existing condominiums such as Mandarin Gardens, Fernwood Towers and Villa Marina, is also near Tao Nan School, CHIJ Katong Convent, Victoria School and Victoria Junior College.

Workplace fatalities rise this year as more workers fall from height

Solar power taking off as alternative energy source in Singapore

Companies' Brief

Singapore retail Reits sector

Credit Suisse Equity Research Island-wide retail sales (ex. motor) remained weak in 2015, but tenant sales at Reit malls started to recover in 2015 and have outperformed island-wide sales. Retail stock is expected to grow at a manageable 1.7-2.3 per cent per annum from 2015-18, after peaking at +3.9 per cent in 2014. Orchard Road and fringe areas should see the least supply pressures, in our view. Over half of the incoming supply is expected to be suburban; however, this is mainly spread across six malls, two of which are at the airport.

CDL Hospitality Trusts

CDL Hospitality Trusts (CDLHT), which derived 60 per cent of its 9 months 2015 gross revenue from its Singapore assets, has been impacted by the soft tourism scene in Singapore. It recently reported a 6.4 per cent y-o-y dip for its 9 months 2015 RevPAR to S$176 for its Singapore hotels.

Views, Reviews & Forum

Golden Shoe Car Park ripe for redevelopment

Rumours have been swirling that CapitaLand Commercial Trust (CCT) could kickstart plans to redevelop Golden Shoe Car Park (GSCP) next year. The speculation appears to have been fuelled by market buzz surrounding expiring leases in the 10-storey Market Street building in the Raffles Place financial district. CCT has office tenants on the property's top floor, with shops and F&B tenants on the ground floor. Some leases are ending next year while others are said to have been renewed recently but on shorter terms. Some tenants are also said to be scouting for alternative premises in anticipation of redevelopment.

Global Economy & Global Real Estate

More retail stock added to Iskandar Malaysia

Iskandar Malaysia's retail stock is expected to see a significant increase over the next two to three years as megamalls form a part of the masterplan of major township developments in the southern economic zone.

UK to increase stamp duty on buy-to-let, second homes

Shopping Frenzy Spurs Philippine Mall Owners to Add Record Space

Irish Bad Bank Said to Plan $6.4 Billion Real Estate Loan Sales