News by Gwyneth Yeo

KSH Holdings announced on Friday that its indirect 22.5% owned joint venture company, Sino-Singapore KAP Construction Co has amended the scope of its business activities.

The KL-Singapore HSR is targeted to commence operations by end-December 2026.

DBS Group Research has an “underweight” rating on the Singapore REIT sector as it anticipates four interest rate hikes by the US Federal Reserve in 2017 alone.

This is not the first time Oxley has ventured into a new geographical market through a partnership with a local company. The Royal Wharf project in the UK and the Dublin Landings in Ireland were both developed in partnership with local developers.

The purchase price was a 2% discount to the average of two independent valuations. Subject to unitholders’ approval, the acquisition will be funded through the issue of S$100 million new units and bank borrowings.

RHB Research is maintaining its “overweight” rating on the property sector as yields of Singapore REITs overtook 10-year government bond yields by 4.3%, above the historical average of 4%. The S-REIT sector also had the highest absolute yields against all REIT sectors globally.

Looking ahead, the group also has an urban renewal project in the pipeline, known as the Datansha Island project, which will have 2 million sf of gross floor area.

The Singapore Central Business District has just seen its fourth major office transaction in 2016, after CLSA Capital Partners acquired 77 Robinson Road for S$531 million

The depressed office property market appears to be turning a corner, after the Central Boulevard white site tender saw keen interest from property developers.

Commercial real estate transaction volumes in Asia Pacific fell by 1.1% in 3QFY16 to US$30.4 billion (S$42.2 billion) (RM127.7 billion), while development site sales fell 17% to US$76.3 billion.