top of page
Latest News

November Property Market Review

[November - 19 - 2018] China's biggest developer Country Garden is planning to raise at least USD1 billion in a convertible bond sale, Bloomberg reported citing unnamed sources. The company aims to sell the securities as soon as this year, said the people, who asked not to be identified because the information is private. Proceeds will be used to help refinance convertible notes that mature in January 2019, according to Bloomberg reports. The developer on 19 September 2018, said it issued USD425million notes coupon rate 7.125% and USD50million notes

[November - 22 - 2018] China's biggest developer Country Garden said it sold USD1 billion in a convertible bond sale, Goldman Sachs and JP Morgan are the coordinators for the sale.

[November - 23 - 2018] Bank of China pledge RMB 6billion to the Philippines, local media reported

[November - 22 -2018] Singapore Government has put in place new anti-money laundering financing requirements for property developers that will require them to perform due diligence checks on their buyers and flag suspicious activity. The new rules come after Parliament passed the Developers (Anti-Money Laundering and Terrorism Financing) Bill on Nov 20

[November - 2 - 2018] Singapore sovereign wealth fund GIC announced the appointment of two new board directors. Lawrence Wong, Minister for National Development and the Second Minister for Finance, was appointed to the board on Nov 1 US-Based

[November - 2 - 2018] PGIM Real Estate is understood to have entered into a deal to buy 78 Shenton Way from a fund managed by Alpha Investment Partners. The headline price for the property, which comprises two office towers, is close to SGD1,900 per square foot on net lettable area (NLA) of about 362,000 sq ft, local media reported. This would translate to around SGD680 million for the property, which is on a site with a balance lease term of about 64 years

[November - 9- 2018] City Developments (CDL) said strong contribution from property development, helped to boost the group's third quarter net profit by 10.4%

[November- 12- 2018] Singapore-based hospitality group Naumi Hotels said it would buy two hotels in Wellington, New Zealand. The Comfort Hotel Wellington and Quality Hotel Wellington, which are both located in the city centre, will boost the hotel owner-operator's portfolio by 177 rooms, up from the current 266 rooms

[November - 13 - 2018] Capitaland and GIC in JV to buy Shanghai Twin Tower

[November - 19 - 2018 ]CDL Hospitality Trusts (CDLHT) is acquiring a 95% stake in Hotel Cerretani Florence, MGallery by Sofitel for 40.6 million euros (S$63.6 million), its managers announced on Friday. The purchase consideration works out to 33 million euros, after taking into account a 3.1 million euro payment for its interest in the estimated net working capital and cash of the consolidated FI Dutch HoldCo group, less 10.7 million euros for a bank loan redemption, local media reported

[November - 1 - 2018] Suntec Reit's manager ARA Trust Management (Suntec) announced on October 31 that Chan Kong Leong has resigned as CEO and executive director of the manager, with his last day of service on December 31. He will be replaced by former OUE Hospitality Reit Management CEO Chong Kee Hiong, appointed with effect from January 1


bottom of page