Singapore Real Estate

Singapore Vote Won't Reverse Property Curbs -- A Price Drop Will

For those holding out for a roll back of property curbs after an election victory by Singapore’s ruling party, the wait may be longer than anticipated. The People’s Action Party’s emphatic win at Friday’s polls won’t be enough to reverse measures put in place as far back as 2009. The pace of decline in the city’s home prices needs to double the 6.7 percent drop from the peak two years ago before any of the restrictions will be eased, according to Chestertons Singapore and RHB Research Institute Singapore Pte.

Aug slump in new home sales unlikely to affect cooling measures: analysts

The slump in developers' private homes sales last month came in largely expected, after July's sales were skewed by the launch of a massive project. However, the slump is hardly an impetus for the government to tweak the property cooling measures now. And with such status quo expected to last at least until the end of the year, a buying inertia may ensue, consultants say.

CapitaLand in 7th housing project in Vietnam

Announcing its seventh residential project in Vietnam, CapitaLand said on Tuesday that its fully-owned unit CapitaLand (Vietnam) Holdings has entered into an 80:20 joint venture with Thien Duc Trading-Construction Company to develop a site in Ho Chi Minh City's District 2. As the lead development manager, CapitaLand plans to develop the 2.6-hectare site into a high-end residential project with about 1,000 homes. The development will have an estimated total project value of US$150 million.

Row of three shophouses at Joo Chiat Road up for sale

Three adjoining freehold shophouses in Joo Chiat Road near its junction with Changi Road have been put up for sale by public tender. The guide price for the trio, located opposite Joo Chiat Complex, is S$28 million.

UOL's Pan Pacific pumps US$35m into four hotels

The Pan Pacific Hotels Group is conducting upgrading works at four of its owned and managed properties in the Asia Pacific - including the Parkroyal on Beach Road in Singapore - for a total investment of over US$35 million as it seeks to maintain its competitive edge. "Over the past four years, the group has been dedicated to bringing to life the distinctive Pan Pacific and Parkroyal brand experience across various customer touchpoints, notably through property transformations and the recent launch of our refreshed brands' websites," said Bernold Schroeder, chief executive officer of Pan Pacific Hotels Group.

Property firm bolsters ranks, targets prime areas

A newly formed joint venture property firm is offering incentives to agents in the market downturn as it moves to focus on the plush Districts 9, 10 and 11 and Sentosa Cove. The new firm, Global Alliance Property (GA Property), is a tie-up between Global Property Strategic Alliance (GPSA) and More Property - and, in turn, is being acquired by Singapore-listed Asia-Pacific Strategic Investments (Apsil).

Companies' Brief

CapitaLand Mall Trust

We believe value has emerged for CapitaLand Mall Trust (CMT), following its recent sharp share price correction. Although we are lowering our FY2016 and FY2017 distribution per unit projections by 3.1 per cent and 4.4 per cent, respectively, CMT's FY2016 forecast distribution yield of 6.1 per cent is two standard deviations above its 5-year average forward yield.

Global Economy & Global Real Estate