2015 Real Estate Daily News - REDAS
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19th May (Tue) Real Estate Daily News 2015
Daily News & Views
Singapore Real Estate
Changes to Housing Developers Act to kick in from May
The amendments will aim to better protect private home buyers, and help them make more informed
choices by providing the public with more comprehensive and timely information on the private residential
property market, says the Ministry of National Development.
http://www.channelnewsasia.com/news/singapore/changes-to-housing/1854136.html
Govt releases new developer rules on show units, sales data
Legislative changes to the Housing Developers (Control and Licensing) Act will now require developers to
provide detailed sales data on a weekly basis and disclose the value of any benefits to buyers in transaction
documents. For the first time, the government is introducing a new set of rules to also ensure that
developers accurately depict actual housing units in their showflats.
http://www.businesstimes.com.sg/real-estate/govt-releases-new-developer-rules-on-show-units-sales-
data
http://www.straitstimes.com/premium/top-the-news/story/access-private-property-sales-data-june-5-
20150519
http://www.straitstimes.com/premium/top-the-news/story/private-home-buyers-benefit-20150519
http://www.todayonline.com/singapore/changes-housing-developers-control-and-licensing-act-kick-month
Ascott sets target of 10,000 apartment units in Europe by 2020
The Ascott, CapitaLand's wholly owned serviced residence business unit, on Monday said that it plans to
almost double its apartment units in Europe by 2020, and that this could come through acquisitions. It
announced in a press statement its target of 10,000 apartment units in Europe in five years.
http://www.businesstimes.com.sg/companies-markets/ascott-sets-target-of-10000-apartment-units-in-
europe-by-2020
http://www.channelnewsasia.com/news/singapore/ascott-announces-lofty/1855242.html
GIC, Canada pension fund to buy Seoul mall for US$263m
GIC and the Canada Pension Plan Investment Board (CPPIB) have bought the retail mall portion of South-
Korean megacomplex D-Cube City for US$263 million, the acquirers announced on Monday. GIC, which
helps to manage Singapore's reserves, will own a 50 per cent stake in D-Cube Retail Mall, with CPPIB taking
the other half.
http://www.businesstimes.com.sg/real-estate/gic-canada-pension-fund-to-buy-seoul-mall-for-us263m
http://www.straitstimes.com/premium/money/story/gic-canada-fund-tie-buy-s-korean-mall-20150519
http://www.channelnewsasia.com/news/singapore/gic-cppib-to-acquire/1854328.html
CBRE Hotels: Singapore hotel market to stay challenging for buyers
The Singapore hotel market will likely remain challenging for buyers in the short term due to the high prices
and limited supply of available assets, according to CBRE Hotels.
http://www.businesstimes.com.sg/real-estate/cbre-hotels-singapore-hotel-market-to-stay-challenging-for-
buyers
April new home prices down y-o-y for 8th straight month
China's new home prices fell for the eighth consecutive month in April from a year earlier but were flat
from March, adding to hopes that a property downturn which is weighing heavily on the economy is
beginning to bottom out.
http://www.businesstimes.com.sg/real-estate/april-new-home-prices-down-y-o-y-for-8th-straight-month
1Daily News & Views
Views, Reviews & Forum
Developer should fix defects: Vivian
Flooding along corridors is unacceptable and if there are defects in the new flats, they should be fixed by
the developer. This was what residents said Holland-Bukit Timah GRC MP Vivian Balakrishnan told them on
an unscheduled visit yesterday to Trivelis, a Design, Build and Sell Scheme (DBSS) project in Clementi that
has seen hundreds of complaints over poor furnishings.
http://www.straitstimes.com/archive/sunday/premium/news/story/developer-should-fix-defects-vivian-
20150517#sthash.1d8oQpCA.dpuf
HDB should help deal with Trivelis developer
To ensure the objectives and policies of public housing are preserved, the Housing and Development Board
(HDB) should intervene directly with the developer of Trivelis, rather than let each of the residents make
their own claims (“500 DBSS flat-buyers up in arms over finished product”; May 14).
http://www.todayonline.com/voices/hdb-should-help-deal-trivelis-developer
Enforcement in Tiong Bahru not intended to diminish its vibrancy
We refer to "Retail shakeout in Tiong Bahru" (BT, May 14), which highlighted enforcement action by the
Urban Redevelopment Authority (URA) on several businesses. The article reflected concerns that the
enforcement will affect the vibrancy of the Tiong Bahru estate.
http://www.businesstimes.com.sg/opinion/enforcement-in-tiong-bahru-not-intended-to-diminish-its-
vibrancy
Global Economy & Global Real Estate
Investors pouring into London student housing as values rise
Joyce Ge, a student from China who is studying business management at King's College, pays £880
(S$1,830) a month to live in a pint-size, stylish studio apartment in the far reaches of east London, in a
building with roof decks gazing toward the distant city skyline. Her rent covers water and electricity, as well
as Wi-Fi and cleaning of common spaces every two weeks.
http://www.businesstimes.com.sg/real-estate/investors-pouring-into-london-student-housing-as-values-
rise
Kips Bay Show House looks like a million bucks - make that US$35m
http://www.businesstimes.com.sg/real-estate/kips-bay-show-house-looks-like-a-million-bucks-make-that-
us35m
Chinese developers turn to equity market to raise capital
http://www.businesstimes.com.sg/real-estate/chinese-developers-turn-to-equity-market-to-raise-capital
Recovery in China property market slowly taking hold
http://www.straitstimes.com/premium/world/story/recovery-china-property-market-slowly-taking-hold-
20150519#sthash.wx6IdTFK.dpuf
London Developers Increase Their Bets on Future Office Demand
http://www.bloomberg.com/news/articles/2015-05-18/london-developers-increase-their-bets-on-future-
office-demand
2Daily News & Views
Lutnick’s BGC Partners to Buy Retail-Property Firm
http://www.bloomberg.com/news/articles/2015-05-18/lutnick-s-bgc-partners-to-buy-retail-property-firm
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate - Full Article
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 19th May 2015.
3Daily 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
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