The risk that Singapore real estate investment trusts (S-Reits) will face significant price corrections in the coming year is limited as long as global borrowing rates stay low, Credit Suisse said at an investment outlook for 2020 on Monday. Strategists at the Swiss wealth manager noted unit prices for S-Reits remain supported even though the near-term upside could be more constrained after the asset...
General
Underpinned by a global hunt for yield, Singapore's real estate investment trusts are having a bumper year in deal-making as well as fundraising. The mantra that bigger is better will continue to drive capital market activity in the sector, analysts say. Singapore-listed Reits have forked out US$16.9 billion to purchase assets this year, already triple the previous peak reached in 2014. The sector has...
A consortium comprising Far East Organization, Sekisui House and Sino Group has sold 92 units at One Holland Village Residences. These units were sold between Nov 21, when preview sales at the 296-unit project began, and 6 pm on Dec 1. The District 10 project's official launch was held on Saturday, Nov 30. The sales outcome is seen as positive, given the relatively high price points. As part of a...
Far East Consortium International, the Hong Kong developer, is considering a real estate investment trust (Reit) listing in Singapore that could raise as much as S$500 million, people with knowledge of the matter said. Hong Kong-based Far East Consortium is working with advisers on the potential sale of trust units backed mainly by hotels under the Dorsett brand, the people said. The initial public...
Singapore’s private residential prices appear to have decoupled since 2013 from the global chase for yields, a fresh study by the IMF showed. This is as macroprudential measures undertaken by the Singapore regulators in recent years targeted foreign buyers and speculators - the pacemakers behind the asset chase on Singapore properties, said the study, which was released within the annual Financial...
Singapore's property market faces “potential downside risks” from a large supply of unsold units in the medium term and an uncertain economy, said the Monetary Authority of Singapore (MAS) on Thursday (Nov 28). In its annual Financial Stability Review, the central bank urged prospective buyers, especially households that are highly-leveraged, to be mindful of risks and remain prudent. Property...
A 35-year-old woman living at Pacific Mansion condominium tried to bribe two security guards at the River Valley development into keeping quiet about her Airbnb guests. Li Yilin was sentenced on Thursday (Nov 28) to one week's jail for corruption. Li, a tenant at the condominium, had sublet her rental apartment to a group of tourists for five days and four nights via Airbnb, the Corrupt Practices...
Dyson will be moving its global headquarters to St James Power Station in Singapore, the British technology firm said on Thursday (Nov 28). "The historic St James Power Station will be a most inspiring backdrop for Dyson’s people," Dyson's chief executive Jim Rowan told CNA. "It will be a hive for our research and development endeavours, as we focus on great technology breakthroughs." This...
Selected units of One Holland Village Residences, developed by Far East Organization, Sekisui House and Sino Group, will go on sale on Saturday. It will offer apartments across three buildings - the 34-storey Sereen, the 28-storey Quincy Private Residences, and the three-storey Leven with a roof terrace. These will be priced from S$2,400 to S$3,500 per square foot (psf) across the three types of...
The Urban Redevelopment Authority (URA) has launched two residential sites (Parcels A and B) at Canberra Drive for sale by public tender under the confirmed list of the second half 2019. The adjacent land parcels, both with 99-year leases, can potentially yield about a total of 675 residential units, the URA said on Thursday. Parcel A spans an area of 13,315.3 square metres (sq m) with a maximum...