Park Hotel Management, liquidators sue director over disposal of assets

Bright Ruby Resources buys Income At Raffles for slightly over S$1 billion

SINGAPORE-BASED Bright Ruby Resources group has emerged as the buyer of Income At Raffles at 16 Collyer Quay. The price is understood to have crossed S$1billion, reflecting slightly over S$3,600 per square foot on the net lettable area of 276,451 sq ft.

Fate of crypto investor Su Zhu’s bungalows hangs in the balance after Three Arrows implosion

THE market is abuzz with speculation over the personal assets of Three Arrows Capital (3AC) founder Su Zhu, following news of the crypto hedge fund’s

HDB resale prices climb 2.6% in Q2: flash estimates

HOUSING Board (HDB) resale prices rose 2.6 per cent in Q2 2022 to mark a ninth consecutive month of quarterly growth, according to HDB’s flash estimates of the Resale Price Index (RPI) released on Friday (Jul 1).

Singapore Q2 private home prices up 3.2% on 6% jump in city-fringe condos: URA

After rising 3.2 per cent quarter on quarter in Q2 propped by 2 successful property launches in the city-fringe at record prices, the official overall private home price index is expected to continue to be in positive territory for the rest of the year.

ARA H-Trust to divest 4 Hyatt Place hotels for US$32.5m

ARA US Hospitality Trust (ARA H-Trust) has agreed to sell a 4-property portfolio of Hyatt Place hotels for US$32.5 million to US-based real estate investment firm Three Wall Capital.

Singapore office rents hit hard in previous recessions: IREUS

Office rents in Singapore’s Central Region were hit hard during the last 3 recessions, with market declines lasting longer than the overall economic downturn and rents falling about 30 per cent from pre-recession rates, a new report shows.

Real estate certification company WiredScore raises US$15m in Series B funding 

REAL estate certification company WiredScore announced on Thursday (Jun 30) that it has raised a total of US$15 million (S$20.9 million) in its Series B funding round, led by Beringea, Cushman & Wakefield, Crow Holdings and Taronga Ventures.

Government puts out largest supply of industrial land plots under GLS programme since 2020  

A total of 6.36 hectares of industrial land is up for tender in the Industrial Government Land Sales (GLS) programme for the second half of 2022, in what is the largest industrial land supply release from the state since 2020. 

Straits Trading unit to acquire office and industrial buildings and land in the UK for £130m

STRAITS Real Estate, a unit of mainboard-listed Straits Trading, is acquiring a portfolio of office and industrial buildings and several plots of development land in Gloucester Business Park for £130 million (S$219.5 million).

Kovan’s Jansen Mansions sold higher at S$19.1m

JANSEN Mansions at Kovan has been collectively sold to Macly Capital in a public tender for S$19.1 million, slightly higher than the reserve price of S$18.9 million, marketing agent PropNex Realty announced on Wednesday (Jun 29).

Singapore CBD Grade A office rents may cross pre-pandemic peak by Q3: JLL

GRADE A office rents in Singapore’s Central Business District (CBD) continued their steady upward momentum for the fifth straight quarter in Q2 2022 to recover to 0.6 per cent below the pre-pandemic peak of S$10.81 per square foot (psf) per month in Q4 2019, according to JLL Singapore.

DBS raises 2-year fixed home loan rate to 2.75% per annum, highest among local banks

DBS has just raised its rates on all home loan packages to 2.75 per cent per annum, placing it the highest among the trio of local banks.

Sun Venture in exclusive due diligence to buy Bugis Junction Towers; office deals gather steam

THE Singapore commercial property market continues to buzz. One of the latest deals is that for Bugis Junction Towers, where Sun Venture Group is said to be doing exclusive due diligence with a view to buy the 15-storey office block for between S$675 million and S$680 million.

Bukit Batok EC site launched for tender, market watchers foresee keen developer interest

AN EXECUTIVE condominium (EC) site at Bukit Batok West Avenue 5 has been launched for sale by public tender under the confirmed list of the H1 2022 Government Land Sales programme.

Two major private home launches slated for July

AFTER 9 years in the rental market, luxury development Cape Royale at Sentosa Cove is now being launched for sale.

Brokers’ take: RHB lowers EC World Reit target price to S$0.55 on ‘onerous loan refinancing terms’

AFTER EC World Reit’s recent “disappointing” refinancing outcome, RHB has lowered its target price for the real estate investment trust (Reit) to S$0.55 from S$0.65, citing “limited catalysts” in a Monday (Jun 27) report.

Growing interest in alternative investments in Sabah, Johor and Penang: survey

THERE seems to be a greater risk appetite for alternative investments in Malaysia over the next 2 to 3 years, said property consultancy Knight Frank Malaysia on Monday (Jun 27) as it released the latest sentiment survey on Malaysia’s commercial real estate investment.

Seeing value in non-property businesses owning property 

THE return on equity (ROE) is a key metric that investors in listed equities focus on. Investors contribute equity to a business and entrust management to use the equity to generate returns. 

Brokers’ take: DBS initiates ‘buy’ on Wing Tai, sets S$2.05 target on diversified real estate portfolio

DBS Group Research has initiated coverage on Wing Tai with “buy” at a target price of S$2.05 on the property and retail player’s diversified Asia-Pacific real estate portfolio, DBS said in a report on Monday (Jun 27).

Freehold shophouse along Tyrwhitt Rd for sale at S$7.5 million guide price

A TWO-STOREY and attic conservation shophouse sitting on 131 Tyrwhitt Rd has been put up for sale with a guide price of S$7.5 million by Savills Singapore on Monday (Jun 27).

Shocks to property sector usually stretch beyond the recessions: IREUS

AN analysis of historical data has shown that real estate downturns in Singapore associated with recessions tend to last longer than the periods of economic decline, according to the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore.