Daily Archives: May 15, 2020 (35 Articles Found)

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Unit at The Orchard Residences sold at $2 mil loss

The seller of a unit at Leonie Parc View, on Leonie Hill Road, made the top loss of $2.12 million over the period of Apr 26 to May 5. The 2,013 sqft unit on the 17th floor was…

‘Fire sales’ of penthouses in prime districts – what you can get for under $8.8 mil

Several distressed sales of penthouses have emerged in the prime districts. Is this a sign that the top end of the residential market is cratering as Covid-19 ravages the economy? On the market is a 4,499 sqft penthouse…

Ground-floor unit at eCO going for $770,000

A one-bedroom-plus-study unit at eCO, is on the market for sale by private treaty. The 667 sqft unit is located on the ground floor and comes with a private enclosed space with a gate that opens directly to…

Post-Covid-19 recovery in private residential market expected to be similar to post-H1N1 rally

The private residential market is expected to pick up after the government’s “circuit breaker” measures end on June 1, and the rally could be similar to the post-H1N1 situation, according to Leong Boon Hoe, founder and CEO of…

CBRE’s Moray Armstrong sees ‘a raft of opportunities’ post-Covid-19

Property agencies and consultancies have seen their transaction-related businesses adversely affected by Covid-19 and the two-month “circuit breaker” in Singapore, which has been extended to June 1. But the wider market corrections and economic recession stemming from the…

Dorm operator Centurion braces for slower earnings despite 13% increase in 1Q20 revenue

Centurion Corp saw its revenue inch 13% up to $35.5 million in 1Q20 ended Mar, from $31.3 million a year ago. The workers accommodation business segment grew 15% y-o-y in revenue to $22.8 million following the increased capacity…

AIMS APAC REIT finds strength in organic growth: DBS

While DBS analysts Dale Lai and Derek Tan expect demand and rental rates for industrial real estate to moderate and possibly turn slightly negative in 2020, they have maintained their “buy” call on AIMS APAC REIT (AAREIT) due…

Wanted: High-tech farmers of the future

Let me tell you the story of two entrepreneurs who have gone into farming technology to explain why I am optimistic about our nascent agritech sector. Mr Vincent Wei is a co-founder of a start-up agritech company called…

Busier times for safe distancing ambassadors as more businesses begin to reopen

The reopening of TCM halls and bak kwa shops on Tues has led to increased activity in Chinatown, where such stores are in higher concentration. Those who conduct enforcement checks in the area say patrols now take longer…

Shut doors, verbal abuse among challenges faced by safe distancing ambassadors

Shut doors at restaurants to hamper inspections and verbal abuse by unruly individuals are among the challenges safe distancing ambassadors employed by Singapore Tourism Board face on a daily basis. Staff at some businesses in the Chinatown precinct,…

1,275 Covid-19 patients discharged in S’pore; figures further suggest situation is stabilising

The number of new coronavirus cases outside dormitories on Fri equalled the previous day’s low of two, while discharge figures once more exceeded new cases, in further signs that the situation in Singapore is stabilising. MOH reported 793…

1,400 former Covid-19 patients staying on two cruise ships at Marina Bay Cruise Centre

About 1,400 foreign workers who have recovered from Covid-19 infections are now on two cruise ships docked at the Marina Bay Cruise Centre. The Singapore Tourism Board had previously said that the SuperStar Gemini started taking in workers…

Recovery facilities coming up at Turf Club can house 3,600 workers

The community recovery facilities (CRFs) at the Singapore Turf Club will be able to house 3,600 Covid-19 patients when they are completed by the end of the month. The Turf Club and Tote Board are working with government…

Coronavirus: Stay-home notice for foreign workers, dependants in construction to end on May 18

The stay-home notice that is being served by around 180,000 foreign workers in the construction sector and their dependants will end at 11.59pm on Mon. The notice will not be extended further as the incidence of coronavirus infection…

Interest in disinfection tunnels picks up ahead of circuit breaker ending; two installed so far

Two types of “disinfection tunnels” have been installed here, both of which automatically discharge disinfectant on individuals who pass through them. The companies behind them aim to set more up at workplace entrances, as well as crowded areas…

Singapore’s rail reliability continues to grow in first 3 months of the year

Reliability of the nation’s train network continued to improve in the first three months of 2020, with train-km between delays inching past the 1.4 million mark. For the first three months of the year, trains clocked 1.401 million…

Some estate agents not advising clients to defer physical viewings during circuit breaker

Some real estate agents have not been advising their clients to defer physical viewings during the circuit breaker period, said CEA. In response to feedback that such incidents were occurring, CEA said in an updated advisory to real…

M1 could have handled Internet outage better

M1 could have managed the recent Internet outage better. When it happened, many subscribers initially suspected that the problem was with their modem, router or even the device accessing the Internet. Understandably, among the first actions subscribers took…

Singapore new private home sales plunge 58% in April amid COVID-19 circuit breaker

Sales of new private homes last month plunged 58 per cent from Mar as a result of “circuit breaker” restrictions, with analysts expecting the property market to remain muted in May. Data released by URA on Fri showed…

Number of COVID-19 community cases ‘likely’ to go up as circuit breaker measures are eased: Gan Kim Yong

Circuit breaker measures need to be lifted “carefully and slowly”, as the number of COVID-19 community cases is “likely” to increase as some of the measures are rolled back, said Health Minister Gan Kim Yong on Fri. He…

‘No doubt’ construction costs will rise with COVID-19 testing for workers ramped up: Lawrence Wong

Construction costs in Singapore will increase as authorities impose a new COVID-19 testing regime on workers in the industry, and these will be borne by ‘all of us’, said National Development Minister Lawrence Wong on Fri. “So I…

Covid-19: Dorm operators must put in place strict measures, movement curbs for foreign workers to gradually return to work

As economic activity gradually ramps up after the circuit breaker period, employers and dormitory operators must put in place measures to keep migrant workers safe in their accommodation, MOM) said on Fri. For starters, workers who have recovered…

Some construction activities, including renovations, to resume from June 2 in ‘controlled manner’

Some construction activities will resume after the circuit breaker ends on June 1. The stay-home notices for migrant workers staying outside purpose-built dormitories will also not be extended past its expiry date on May 19, though the circuit…

Singapore has 6th-fastest mobile data download speeds in the world: OpenSignal

Are 5G networks the solution for faster download speeds on your smartphone? Apparently, proper mobile data network implementation still counts for something. Singapore has the 6th fastest download speed on mobile data in the world, and that’s considering…

COVID-19 drives more wet market stalls online, but will they be here to stay?

With fewer customers at Geylang Serai Market and restaurants cutting back orders by as much as 90 per cent almost immediately after the “circuit breaker” rules kicked in, business slowed so much that Mr Alfred Goh and his…

Outlook on luxury: Can virtual sales hold up the market?

The migration of art onto the digital realm has accelerated spectacularly, as art fairs are forced to cancel and galleries hastily launch online “viewing rooms” in lieu of actual exhibitions. On the ground, artists have never had to…

Outlook for luxury: Conservative buying

As with most other sectors, luxury furniture retailers in Singapore have also been impacted by Covid-19. But there have been some silver linings too. Lim Choon Hong, MD for Xtra says, “the fears and anxieties arising from the…

Singapore commercial property investment volume dives 78% in Q1

Singapore dropped out of the top 10 cities in commercial property investment volumes in the first quarter, with transactions plunging 78 per cent year on year to US$432 million, according to RCA’s Apac Capital Trends report. The steep…

Outlook for luxury: Delivering a new dining experience

Never has an industry been so vividly transformed as F&B, with the very basic human concept of sharing a meal with friends and loved ones shattered by the onset of the Covid-19 pandemic. Even as it shook the…

Retail, F&B players in Singapore to push for fair tenancy legislation

Industry stakeholders from the battered retail and F&B sectors will be pushing for the adoption of landlord-tenant legislation in Singapore, when it unveils its list of recommendations on May 21. The Fair Tenancy Framework Industry Committee (FTFIC), formed…

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