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9th October 2015

Singapore Real Estate

Buyers return as HDB resale prices consolidate

As HDB resale prices fell in September, it also drew more buyers back into the secondary market. SRX Property data released on Thursday showed resale transactions rose by 3.9 per cent, while prices slipped 0.4 per cent in September compared to August. About 1,504 HDB resale flats were sold in September, up from 1,447 units in August.

Kingsland's $100m data centre up and running

Real estate developer Kingsland Development has invested more than $100 million developing a six-storey wholesale data centre in Jurong. The first customers, which include telcos, e-commerce firms and banks, moved in after the official opening on Wednesday.

High-rise home improvement

Foreign workers installing a clothes-drying rack at a Housing Board block in Jalan Satu, off Old Airport Road, on Tuesday. The installation was part of the Home Improvement Programme (HIP), a subsidised scheme which tackles maintenance problems that crop up in ageing flats.

Singtel to build S$400m data centre in Jurong

Singtel has invested S$400 million in a new data centre to be built in Jurong to meet growing demand for co-location and cloud services in Singapore. In a press release issued on Thursday (Oct 8), Singtel said the new Tier 3-Plus data centre will have "high-grade private and co-location data hosting capabilities" and host technologies such as cloud solutions, smart applications and different platforms for analytics.

SLA provides 'green map' for NParks

Companies' Brief

Savills Singapore beefs up team to double valuation revenue

Savills Singapore is building a valuation powerhouse as part of its plans to beef up recurring income streams, with an ambitious goal of doubling revenue from valuation next year. This is not a tall order, according to Christopher Marriott, Savilles' CEO for South-east Asia, given the near-doubling of the Singapore valuation team to about 20 people with the addition of eight senior valuers by mid-November.

Lippo-backed VC fund launched

Singapore and South-east Asian startups are set for a major venture capital (VC) boost, even as regional venture deals hit a record US$1 billion last year, said a recent report by global data company Preqin and the Singapore Venture Capital & Private Equity Association. On Thursday, Venturra Capital, a newly-minted VC fund sponsored by Indonesia's real-estate development group Lippo, launched its US$150 million Venturra Fund I to nurture tech and Internet businesses in South-east Asia.

Global Logistic Properties

Logistics facilities provider Global Logistic Properties (GLP) has signed new lease agreements totalling 89,000 sq m with three leading retailers in China, including Carrefour. The retailers are expanding to meet growing domestic demand, GLP said in an exchange filing yesterday.

Views, Reviews & Forum

How long will the residential property downcycle last?

Over the past 20 years, Singapore’s private residential property market has gone through three downcycles and it is in the midst of a fourth. The Urban Redevelopment Authority’s flash estimate for the third quarter published earlier this month showed prices have fallen for eight straight quarters. Once the detailed statistics are released later this month, the non-landed Private Residential Property Price Index (PRPPI) is expected to follow suit. The PRPPI fell 42 per cent from peak to trough in the first downturn, 21 per cent in the second and 26 per cent in the third (see Chart 1).

Global Economy & Global Real Estate

Ascott extends its hospitality to Cebu and Pattaya

THE Ascott Limited has made its foray into Cebu in the Philippines and Pattaya in Thailand by securing five new contracts to manage 875 apartment units. Having signed 14 management contracts in Asean this year, Ascott has added over 2,700 serviced residence units in South-east Asia - more than triple the number of units it added in the region for the whole of 2014.

Norway sovereign wealth fund to focus on Singapore, Japan

Commerz Real fund's half stake in 78 Shenton Way on the market

New York property market still hot: Colliers

UK home sales pick up in September

HK August home prices hit record high

Housing activity in Britain up, but prices rise at slower pace

Foreign Homebuying Drops in California as China Slowdown Seen