The Ascott, the serviced-apartment arm of CapitaLand, is considering listing a China-focused real estate investment trust (REIT) to fund its expansion in the world's second-largest economy. Ascott Chief Executive Chong Kee Hiong said in an interview with Dow Jones Newswires: "We continue to like China, although we would have to wait for good opportunities in first-tier cities. We also like the second- and...
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National Development Minister Khaw Boon Wan said strong demand for residential property in Singapore is likely to persist, as interest rates stay low. In a question to the minister in Parliament on Monday, MP Foo Mee Har cited the case of a flat in Queenstown which was sold for S$1 million. Mr Khaw said from time to time, some buyers are prepared to pay way above market valuation but these are...
The real estate investment sales market in Singapore surged 19.6 per cent in the third quarter from the previous three months, recording a total transaction value of almost S$9 billion, the highest quarterly total seen since the first quarter of last year, property consultancy Savills said yesterday. The residential segment recorded S$3.7 billion of transactions in the investment sales market, up 26.7 per...
A land site for hotel or mixed use development at Victoria Street/Jalan Sultan received nine bids at the close of tender on Thursday. Placing the top bid was Forward Land at S$331.37 million. Based on maximum gross floor area GFA of 30,977 square metres, the bid works out to S$10,696.19 per square metre of gross floor area. The top bid is also 9.1 per cent higher than the second bid which came from a...
A real estate investment trust backed by Hong Kong tycoon Li Ka-shing announced Wednesday it hopes to raise around US$800 million in a yuan-denominated initial public offering in Singapore. The offer by Dynasty REIT will be the first yuan-denominated flotation in the affluent city-state and the second outside mainland China. Dynasty REIT, which is sponsored by real estate fund manager ARA Asset...
The Republic's real-estate investment trusts (REITs) could be a better bet in the coming months for investors looking for exposure to the property sector but are nervous about the possibility of more cooling measures, according to some analysts. "In view of the impact of cooling measures, we believe investors will remain defensive with stock picks towards the year-end. That's why for the fourth quarter,...
Property investment has become so attractive to so many people here, it seems, that it may actually have reached the point where it is increasing risk and crowding out other investments that could be better for the Singapore economy. In many countries, income from investment in residential property is a blip in overall economic indicators and a small percentage of GDP. Deutsche Bank noted in its Real...
The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties, effective from 6 October. MAS' move is part of the government's broader aim of avoiding a price bubble and fostering long-term stability in the property market. The new rules impose an absolute limit of 35 years on the tenure of all loans for...
Demand for office space in Singapore in the third quarter was supported by companies beyond the financial services sector, with most taking up Grade A office space below 20,000 square feet, said property consultant Colliers International. Firms in sectors such as professional and legal services, insurance, commodities, energy and private equity have helped to moderate the Grade A office rental decline in...
Industrial real estate investment trusts (REITs) remain attractive investments, OCBC Investment Research said yesterday as it kept its "overweight" call, citing their healthy debt maturity profiles, increased investment activity and high yields. In OCBC's research update, analysts Kevin Tan and Eli Lee said that industrial landlords continued to be very engaged in their capital management...