2015 Real Estate Daily News - REDAS
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
14th May (Tue) Real Estate Daily News 2015
Daily News & Views
Singapore Real Estate
Jurong East and current CBD likely to complement each other: Analysts
Great Eastern Life will be moving to Westgate Tower in Jurong East. It is among several firms, including
German automaker Daimler and CPG Corporation, shifting to the west. Already, Jurong East is seeing a
major transformation - with several shopping malls, office buildings and even a hotel and hospital sprouting
up in recent years.
http://www.channelnewsasia.com/news/singapore/jurong-east-and-current/1845302.html
Jurong property prices up after High Speed Rail announcement
Property prices in Jurong are projected to increase by up to 5 per cent once construction of the Singapore-
Kuala Lumpur High Speed Rail terminus is completed. In fact, some agents said prices are already up 1 per
cent, just a week after the location of the terminus was announced.
http://www.channelnewsasia.com/news/business/singapore/jurong-property-prices-up/1845518.html
Surbana wins another African masterplanning contract
Surbana International Consultants has secured the contract to master- plan for Kinshasa, the capital and
largest city of the Democratic Republic of Congo (DRC). This marks its largest masterplanning contract to
date and its first in the country. BT understands the contract size is in the range of US$10-15 million.
http://www.businesstimes.com.sg/government-economy/surbana-wins-another-african-masterplanning-
contract
http://www.straitstimes.com/premium/money/story/surbana-inks-kinshasa-masterplan-deal-20150514
Condo rents flat in April; HDB rents dip
Private residential rents remained flat in April compared to March, while HDB rents slipped 0.7 per cent,
data from SRX Property shows. Transaction-wise, private rental volumes fell 11.9 per cent from March and
public rental volumes, 13.2 per cent.
http://www.businesstimes.com.sg/real-estate/condo%C2%A0rents-flat-in-april-hdb-rents%C2%A0dip
Westwood Residences rides into EC market
Home-buyers looking at executive condominiums (ECs) in Jurong will find a new prospect in Westwood
Residences, a joint development by Koh Brothers and Heeton Homes that is selling for an indicative price of
S$800 per square foot. The 480-unit Westwood Residences will be Singapore's first bike-themed residential
development with a suite of facilities catering to bike enthusiasts and non-bikers alike.
http://www.businesstimes.com.sg/real-estate/westwood-residences-rides-into-ec-market
http://www.straitstimes.com/premium/money/story/lower-indicative-price-new-ec-jurong-20150514
http://www.channelnewsasia.com/news/singapore/signs-of-pricing-pressure/1844760.html
Renesas puts Ang Mo Kio industrial site up for sale
A "Business 2" zone site in Ang Mo Kio has been put up for sale by Renesas Semiconductor Singapore, a
subsidiary of Japanese semiconductor company Renesas Electronics Corporation, which has been operating
in Singapore since 1976. The vendors are looking at a price of more than S$55 million, which works out to
above S$160 per square foot (psf) on gross floor area, said Nicholas Ng, local director of investments at
property services firm JLL, which has been appointed the exclusive marketing agency for the sale of the
industrial asset.
http://www.businesstimes.com.sg/real-estate/renesas-puts-ang-mo-kio-industrial-site-up-for-sale
1Daily News & Views
500 DBSS flat-buyers up in arms over finished product
His Design, Build and Sell Scheme (DBSS) flat was supposed to be of a higher design quality than a regular
public housing unit, but Mr Andy Tan told TODAY he found his three-room unit at Trivelis in Clementi a
“total disappointment”. Two sanitary pipes and a water heater, which were not depicted in the project’s
showflats, were exposed and clearly visible in his kitchen, Mr Tan said.
http://www.channelnewsasia.com/news/singapore/500-dbss-flat-buyers-up/1846220.html
http://www.todayonline.com/singapore/trivelis-residents-arms-over-structural-problems-afflicting-units
Companies’ Brief
CDL looks to more fund management deals this year
Following the S$1.5 billion monetisation of the cash flow from its Quayside Collection assets on Sentosa
Cove last December, City Developments Ltd (CDL) is "actively exploring the possibility" of one or more deals
this year to further develop its unlisted funds management strategy. The deals, if any, will encompass
existing CDL assets and be contingent on favourable conditions.
http://www.businesstimes.com.sg/companies-markets/cdl-looks-to-more-fund-management-deals-this-
year
http://www.straitstimes.com/premium/money/story/cdl-property-investment-can-help-narrow-income-
gap-20150514
City Developments books 2.8% rise in Q1 net profit
City Developments (CDL) has booked a 2.8 per cent rise in net profit for the three months ended Mar 31, on
the back of increased revenue from property development and hotel operations. The Singapore property
developer's net attributable profit after tax and non-controlling interests was S$123 million in the first
quarter, up from S$119.7 million in the same period a year ago.
http://www.channelnewsasia.com/news/business/singapore/city-developments-books-2/1845020.html
Oxley's Q3 earnings soar to S$11.9m; revenue up 48% at S$152m
Oxley Holdings reported a net profit attributable to shareholders of S$11.9 million for the third quarter
ended March 2015, up from S$1.02 million a year ago. Higher revenue and a doubling in gross profit to
S$45.4 million over the period helped boost the bottomline. Including non-controlling interests, net profit
was S$22.7 million, up from S$4.9 million.
http://www.businesstimes.com.sg/companies-markets/oxleys-q3-earnings-soar-to-s119m-revenue-up-48-
at-s152m
Knight Frank promotes two key personnel
Property consultancy Knight Frank Singapore announced on Wednesday the appointment of a deputy
group managing director and an executive director. As part of its succession planning, which has been a
priority of late, the company promoted head of valuation Low Kin Hon to deputy group managing director
with effect from April. Separately, head of investment and capital markets Ian Loh took on the additional
appointment of executive director.
http://www.businesstimes.com.sg/real-estate/knight-frank-promotes-two-key-personnel
Wing Tai Holdings
Sales were led by the recognition of The Tembusu, units sold at Foresque Residences and Helios Residences
in Singapore and The Lakeview in China. Contributions from associates and JVs were soft due to a lower
share of profits from Wing Tai Properties.
http://www.businesstimes.com.sg/companies-markets/brokers-take-98
2Daily News & Views
No change to CPF, HDB rates for Q3
The Central Provident Fund (CPF) Ordinary Account interest rate and the corresponding Housing Board
mortgage rate will remain the same for the third quarter of this year. - See more at:
http://www.straitstimes.com/premium/singapore/story/no-change-cpf-hdb-rates-q3-
20150514#sthash.XqrwTJ7B.dpuf
Global Economy & Global Real Estate
'Reasonable progress' at Tianjin Eco-city: Developer
The Sino-Singapore Tianjin Eco-city development has made "reasonable progress" since it began seven
years ago, said the CEO of its master developer. This is even though it has attracted just 20,000 residents - a
fraction of the 350,000 projected to move in by the early to mid-2020s.
http://www.channelnewsasia.com/news/asiapacific/reasonable-progress-at/1844762.html
Stricter loan rules for Auckland property
New Zealand's central bank plans to tighten lending restrictions for residential property investors in
Auckland to curb an overheated housing market in the nation's largest city.
http://www.businesstimes.com.sg/real-estate/stricter-loan-rules-for-auckland-property
Realtor.com out to grab Zillow's top spot
http://www.businesstimes.com.sg/real-estate/realtorcom-out-to-grab-zillows-top-spot
Cathay Life buys Walbrook Building in biggest London office deal this year
http://www.businesstimes.com.sg/real-estate/cathay-life-buys-walbrook-building-in-biggest-london-office-
deal-this-year
Singha plans 100b baht property splurge to overcome booze curbs
http://www.businesstimes.com.sg/real-estate/singha-plans-100b-baht-property-splurge-to-overcome-
booze-curbs
Indonesia's Mulia Group buys land from 1MDB
http://www.businesstimes.com.sg/real-estate/indonesias-mulia-group-buys-land-from-1mdb
Mega property deals return as US real estate offers haven
http://www.businesstimes.com.sg/real-estate/mega-property-deals-return-as-us-real-estate-offers-haven
China April home sales up as property market stabilises
http://www.businesstimes.com.sg/government-economy/china-april-home-sales-up-as-property-market-
stabilises
AIG’s Schreiber Moves to M&A Role After Managing $200 Billion
http://www.bloomberg.com/news/articles/2015-05-13/aig-s-schreiber-moves-to-m-a-role-after-managing-
200-billion
Foreign Money Is Pouring Into U.S. Real Estate, and It's Not Just Houses
http://www.bloomberg.com/news/articles/2015-05-13/mega-real-estate-deals-return-in-u-s-as-haven-
offered
3Daily News & Views
Minerva Sells London’s Walbrook Building for $901 Million
http://www.bloomberg.com/news/articles/2015-05-12/minerva-sells-london-s-walbrook-building-for-901-
million
Singha Plans $3 Billion Property Splurge to Overcome Booze Curbs
http://www.bloomberg.com/news/articles/2015-05-12/singha-plans-3-billion-property-splurge-to-
overcome-booze-curbs
Additional Articles of Interests - Local & Overseas Real Estate
Local & Overseas Real Estate - Full Articles
http://www.stproperty.sg/articles-property/singapore-property-news/c/11
http://business.asiaone.com/property/news
http://www.propertyguru.com.sg/market-news
http://www.btinvest.com.sg/property
_______________________________________________________________________________________
Note:
The Daily News & Views is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation.
Members are advised to exercise discretion in the use and dissemination of the information. Some news links in Daily News & Views are time-
sensitive and require registration of fee-based digital subscriptions. These links may expire with news changes and updates throughout the day
Disclaimer
Real Estate Developers' Association of Singapore does not warrant the accuracy, adequacy or completeness of the information and expressly
disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor
endorsed by Real Estate Developers' Association of Singapore. Every effort is taken to ensure that all information extracted is correct at the time of
dissemination 14th May 2015.
4Daily News & Views
Real Estate Daily News
A Daily Publication From
REDAS Research & Education
_______________________________________________________________________________________________________________________
About REDAS
The Real Estate Developers' Association of Singapore (REDAS), established in 1959, is Singapore’s premier business association in the real estate and
development industry. REDAS represents some 300 members comprising developers, builders, real estate consultancies and allied professionals,
bankers, REITs and fund managers. The Association actively engages regulators, policy makers and private sector partners to promote best practices
and to support the growth of a vibrant and progressive industry for the creation of quality real estate in Singapore. REDAS regularly organizes
activities such as networking sessions, seminars, charity golf tournaments and international business missions. To uphold the quality of products of
members, REDAS also provide conciliation panel services for
purchasers of residential property.
____________________________________________________________________________________________________________
For enquiries, please contact:
REDAS: Benjamin Lim, Tel: 6336 6655 | E-mail: benjamin@redas.com
© 2015, Real Estate Developers’ Association of Singapore (REDAS)
All rights reserved. The information presented is of a general nature only and is not intended for any particular individual. No consideration has
been given to the individual investment objectives, financial situation and particular needs of any person and investors should independently assess
whether the advice is appropriate to their own circumstances. Whilst every effort has been made to ensure its accuracy the information is taken
from sources considered to be reliable, we do not represent, warrant or guarantee, expressly or impliedly, that it contains no factual errors. No part
of this report may be reproduced in any form without prior permission of Real Estate Developers’ Association of Singapore (REDAS).
_______________________________________________________________________________________________________________________
Real Estate Developers’ Association of Singapore
190 Clemenceau Avenue, #07-01 Singapore Shopping Centre, Singapore 239924
Tel: 6336 6655 Fax : 6337 2217
5You can also read
