Wilmar buys former Coke bottling plant in Tuas for S$29.5m

WILMAR International is buying the iconic former Coca-Cola bottling plant in Tuas for S$29.5 million.

UOB launches finance academy for employees

UNITED Overseas Bank (UOB) has announced the launch of UOB Finance Academy, a dedicated training and development programme in Singapore focused on equipping all employees in the bank's finance function with the soft and technical skills required to become future leaders in their field.

DBS unveils new digital planning tools to boost financial resilience

DBS says a third of its customers had negative cash flow in January to June 2020. The bank also says it is ramping up its suite of digital financial planning solutions and tools to empower Singaporeans for a head start in retirement planning and to boost their financial resilience.

Aw & Sons Capital buys another 10 shophouses at Teck Chye Terrace

AW & Sons Capital, a low-profile boutique developer and family office, has bought 10 contiguous freehold shophouses along Teck Chye Terrace, just off Upper Serangoon Road, for S$39 million.

HOCK LOCK SIEW

End of Hilton contract revives question of HPL's plan for its hotel on Orchard Road

IN April, OUE Commercial Reit announced that it had appointed global hotel chain Hilton to manage the iconic Mandarin Orchard Singapore. This will become Hilton's flagship hotel in Singapore and its largest in the Asia-Pacific.

Office rents flat in Q2, but vacancy rises to 12.1%

NET absorption of office space in Singapore shrank by a record 55,000 square metres of net lettable area in the second quarter of this year.

Q2 net demand for retail space shrinks by record 93,000 sq m

THE severe bruising of the Singapore retail sector amid the Covid-19 pandemic has been reflected in the latest official data on the retail property market.

Singapore retail rents down 3.5% q-o-q in Q2 2020, vacancy rises to 9.6%: URA

RENTALS of retail space in Singapore's central region shrank 3.5 per cent in the second quarter of 2020 over the previous three months, after easing 2.3 per cent in the first quarter of 2020.

Singapore office rents flat in Q2 2020 but vacancy rises to 12.1%: URA

RENTALS of office space in the central region of Singapore remained unchanged in the second quarter of 2020 over the previous three months. This compares with a 0.8 per cent drop in the first quarter of this year.

PIL Building put on the market with S$350m guide price; EOI draws strong interest

PIL Building in Cecil Street - ultimately fully owned by the same entity that controls struggling Pacific International Lines (PIL) - has been quietly put on the market through an expression of interest (EOI) exercise that closed last Friday.

Redevelopment may head off office market blues

SINGAPORE office rents are easing amid a drop in demand as businesses go into cash-conservation mode amid a recession, prompting some to downsize their headcount.

A stream of office space leasing deals in pipeline despite uncertain business climate

THE Covid-19 outbreak may have caused some potential tenants to pause their office leasing plans but at least a few deals have been done. These include two floors that will be vacated by Grab at Guoco Tower in Tanjong Pagar .

DBS, Neo & Partners Global, win WatersTechnology Asia awards

DBS Bank and homegrown Neo & Partners Global clinched awards at the WatersTechnology Asia Awards 2020 on July 9.

SPOTLIGHT

Offerings beckon in Singapore's 5 regions

THESE are unprecedented times for people around the world, including Singapore. Economies are being derailed. New ways of doing things have been adopted on a large scale while trends such as e-commerce and digital payment have accelerated.

1.1% drop in URA's Q2 private home price index 'mild', say analysts

THE Urban Redevelopment Authority's benchmark overall private home price index fell for the second consecutive quarter. It eased 1.1 per cent quarter-on-quarter (q-o-q) in Q2 2020 based on the flash estimate issued on Wednesday, after slipping 1.0 per cent in Q1 2020.

Singapore private home prices down 1.1% q-o-q in Q2 2020: URA flash estimate

THE Urban Redevelopment Authority's (URA) flash estimate for the second quarter of 2020 shows that the overall price index for private homes shrank 1.1 per cent over the preceding quarter.

Beauty World site set to catalyse area's rejuvenation

A JUST-RELEASED 99-year leasehold commercial and residential site near Beauty World MRT station has many strong attributes, say property consultants.

URA launches Jalan Anak Bukit site under dual-envelope tender

THE Urban Redevelopment Authority (URA) has launched for sale a commercial and residential site along Jalan Anak Bukit, near Beauty World MRT Station, under a dual-envelope tender system.

Allianz, Korean pension service set up Asia-Pac property fund

ALLIANZ has teamed up with The National Pension Service of Korea (NPS) to set up a property fund with US$2.3 billion equity. With leverage, the fund will have the capacity to invest in US$4.6 billion of real estate in the Asia-Pacific region.

GCB in White House Park sells for nearly S$60m

A FREEHOLD bungalow in White House Park, near the Singapore Botanic Gardens, is being transacted for close to S$60 million.

ABI Plaza said to be on the market

ABI Plaza, a 12-storey freehold office building with triple frontages along Keppel, Tanjong Pagar and Lim Teck Kim roads, is understood to be on the market.

HOCK LOCK SIEW

Fear of missing out? Beware agents' hype on new home sales and prices

THERE has been much hype generated by some property agents about the relatively strong primary-market private housing sales volumes during the recent "circuit breaker" lockdown period - despite restrictions that curtailed developers' ability to launch new projects.

VIRUS OUTBREAK

Patchy sales on first day of showflats reopening

IT SEEMS to have been a day of generally patchy sales for developers when they could finally open the doors to their showflats after shutting them nearly two and a half months ago as part of measures to halt the spread of the Covid-19 bug.

New commercial project planned in Changi

AFTER opening Jewel last year, Changi Airport Group (CAG) has begun planning for another commercial project, although it may be some time before plans come to fruition.

Several recent GCB deals had viewings before circuit breaker

THERE have been several bungalow transactions in Good Class Bungalow (GCB) Areas recently - though viewings by the respective buyers had been done before the onset of the "circuit breaker" partial lockdown on April 7.