Singapore Real Estate

Developers renew call to tweak cooling measures

With the general election over, the developers' body is back to lobbying the government to tweak the property cooling measures. Augustine Tan, president of the Real Estate Developers' Association of Singapore (Redas), said on Wednesday: "The property cooling measures, in the current tone and intensity, could actually increase the risk to the real estate market and economy."

Manage cooling measures exit 'for soft landing'

The head of Singapore's property developers' body has warned that various negative factors could cause home prices to plummet - especially if a sell-off gets under way. And property cooling measures, if left fully in place, "could actually increase the risk to the real estate market and economy", Mr Augustine Tan said yesterday.

REDAS to work with Government to address oversupply of private homes

With an impending oversupply of private residential homes, the Real Estate Developers' Association of Singapore (REDAS) has said it is ready to work with the Government to address the situation. REDAS estimates that there will be 67,000 new units by 2019, excluding executive condominiums. This represents 20 per cent of the total number of private residential units currently.

International Plaza's 36th floor office units put up for sale

The 36th storey office units at International Plaza have been put up for sale through an expression-of-interest exercise, at a total indicative price of S$25 million. The en bloc sale of the office units on the 36th floor includes the common facilities of the development, such as the swimming pool. The sale also includes three accessory lots.

Pontiac bags its first Aussie project

Pontiac Land Group is set to have its first Australian project after being named the preferred buyer of leases on two heritage buildings in Sydney. The sandstone blocks comprise the Lands Building and the Education Building, which are next to each other in Bridge Street and near Circular Quay.

Companies' Brief

Singapore Reits

With a prospective dividend yield of 6.8 per cent (versus historical average: 5.9 per cent) and a spread of 390 basis points over 10-year government bonds (versus historical average: 360 basis points) - the highest seen in the past three-plus years - the sector looks attractive in our view. Improved debt metrics have largely de-risked the sector and along with it, risks of a sharp spike in required yields and spreads.

Family of Ng Teng Fong donates S$20m to museum

The family of the late Ng Teng Fong, founder of Far East Organization, has donated S$20 million to the National Gallery Singapore, and is now the museum's fifth founding partner. The donation will go towards the Gallery's research, curatorial and exhibition work, with a focus on outdoor presentations of commissioned art.

Global Economy & Global Real Estate

7th Vietnam-S'pore industrial park takes off

Sembcorp Development held a ground-breaking ceremony for its seventh Vietnam-Singapore Industrial Park (VSIP) yesterday. The project, which is in Nghe An province, about 400km from Hanoi and 70km from the Laos border, is being developed by a partnership between Vietnam's Becamex IDC Corporation, which has a 49 per cent stake in the joint venture, and a Singapore consortium - in which Sembcorp has a 92.9 per cent stake.

Carlyle raises US$4.2b for US real estate fund

Marriott to bring its brand into South Africa

Senegal plans city to ease capital gridlock, woo China investors

Commercial land prices in Japan's big cities on the rise

Battle over mobile-home parks in California

Danish central bank warns of rising speculation in housing

Billionaire's London Mayfair homes project gets go-ahead

Miami's `Scarface' Pad Has New Resident: A Billionaire Ex-President in Exile

Stocks and Bonds Losing to Real Estate in Draghi's World of QE

Carlyle Raises $4.2 Billion for Seventh U.S. Real Estate Fund