Read related article: Frasers Centrepoint Accept Accumulation closing of 63% Asia Retail Fund for $1.06 bil

Frasers Centrepoint Accept Accumulation closing of 63% Asia Retail Fund for $1.06 bil

Surbana Jurong Group, a worldwide infrastructure and management solutions consulting company, has announced a new venture with Atelier Ten, a global ecological design consultancy leading to sustainable and innovative design alternatives.

Atelier Ten joins Surbana Jurong’s household of expert consulting companies because its ninth member company, along with the partnership provides Atelier Ten with increased scale, tools, and skills to accelerate the effect of sustainable design,” states Surbana Jurong.

The transfer is in accordance with the team’s focus on establishing its sustainability solutions and increases the group total service experience including design, architecture, technology, facilities management, and safety solutions.

“[This] announcement shows Surbana Jurong’s dedication to assist customers design high energy, sustainable structures and intelligent infrastructures that conserve resources and energy. With Atelier Ten, we could unlock greater significance from our fertility alternatives,” states Surbana Jurong Group CEO Wong Heang Fine.

The partnership will reinforce Surbana Jurong’s existence in the usa and European markets, and offer better accessibility and knowledge sharing across various niches, states the group. It adds that this move may even open more collaborative endeavors for both businesses in the long run.

Atelier Ten and Surbana Jurong have powerful collaborations in Singapore, for example Jewel Changi Airport, among the world’s biggest air-conditioned gardens which balances the competing needs of heat and light to crops.

Other noteworthy endeavors by Atelier Ten comprise Singapore’s Gardens From the Bay, which comprises environmental design that embeds both building-scale and city-scale circular market fundamentals. The business also made the spiky shading system which provides The Esplanade its own durian-like look.

Read related article: BTO Flat Customers in Punggol Face One-Year Postpone after HDB Terminates Contractor’s Services

BTO Flat Customers in Punggol Face One-Year Postpone after HDB Terminates Contractor’s Services

In 3Q2020, business parks continued to determine demand by companies seeking low-cost spaces for their work force, regardless of the weak economic belief in Singapore.

The company will probably be spending $100 million at the house, which will interval 141,000 sq feet of business park and R&D laboratory space.

Upon conclusion in 2023, the website will function as the company’s regional headquarters to conduct research and advancement in advancing constructed technologies for the building market.

The logistics industry continued to expand, with German logistics company DB Schenker launching its 550,000 sq foot warehouse at Airport Logistics Park. The business spent $163 million at the home, ramping up the amount of its own warehouses in Singapore into 13, and expanding its complete warehouse footprint into 2.8 million sq ft.

DB Schenker is going to have the ability to take care of large order volumes with automation employed at the facility which will bring about a 40% rate gain in the managing of air cargo exports and imports. Additionally, it will have the ability to cut energy use by 35% with the usage of solar panels, highlights C&W.

On the flip side, the prognosis for industrial rents is blended. C&W jobs that rents for business parks at town fringe is going to do nicely, as demand is continuing by companies trying to reduce real estate costs by moving from Grade-A offices into the city fringe. Rents of business parks in town fringe stood at $5.91 psf per month at 3Q2020, up 0.2% in the previous quarter and 2.4% from one year ago.

“Biomedical manufacturers and the associated R&D gamers are searching to find their facilities at Singapore or even Southeast Asia since the danger of international supply chain disruptions has been loom. Semiconductor players and the other relevant businesses behind 5G networks are poised for expansion,” remarks Brenda Ong, executive director and head of industrial and logistics in C&W.

Rents at the Science Park are predicted to increase marginally as a result of increase of the biomedical and pharmaceutical business, states C&W. Nevertheless, rents for business parks in different regions will decrease as a result of the elderly stock in the regions, it adds.

Additionally, mill rents will probably medium, while high tech rents are set to stay secure, fostered by the development of the electronics industry.

From the prime logistics area, rents are expected to improve because of a strong taste for ramp-up facilities, while rents for traditional warehouses are expected to stay flat, says that the research consultancy.

Investments in industrial resources are lagging behind the figures from one year ago, documenting $446.5 million in 3Q2020down 39% q-o-q and 89% y-o-y.

“Long-term players from the logistics industry are reluctant to market their resources; unless the investor is a fund using a fixed fund existence, there’s absolutely not any impetus for all those who have a long-term horizon to set their resources on the current market, especially when quality assets are few and far between. That, and the fact that investors are obligated by selling moratoriums as governed by the government, are grounds for its reduced levels of investment action,” says Ong.

On the third quarter, AIMS Apac REIT obtained a ramp-up logistics center in 7 Bulim Street for about $129.6 million.

Read related story: Undertaking a 270-degree Allgreen Immersive Virtual Experience for 4th Avenue Gallery

Undertaking a 270-degree Allgreen Immersive Virtual Experience for 4th Avenue Gallery

Overall property investment earnings in Singapore across all industries hit $4.4 billion in Q32020, representing a 55.1% y-o-y reduction.

But, both interest and action in the real estate marketplace have picked up substantially since the easing of Covid-19 limitations, especially from the industrial industry, notes Knight Frank.

Foreign investors also have expanded their operations in Singapore. The likes of Alibaba getting a 50% stake in AXA Tower before in May and ByteDance trying to install in Singapore is only the start of the possible requirement coming from China-based technologies, Knight Frank says.

The residential business revealed resilient need from the fantastic Class Bungalow (GCB) section, with prices amounting to $128.3 million in Q32020. This includes close to reaching the $166.4 million listed in H12020. Crucial transactions included the purchase of GCBs along Garlick Avenue, adds the study consultancy.

Transactions contain a warehouse at 7 Bulim Street from Titan (Wenya), that was offered to AIMS APAC REIT for $129.6 million, along with a business park development in 26A Ayer Rajah Crescent by Mapletree Industrial Trust, that was bought by Equinix Singapore for $125 million.

There were no trades in the public sector in Q3, as no websites were offered under the Government Land Sales programme.

Meanwhile, the Singapore outbound investment earnings totalled $2.8 billion in the next quarter, exceeding 24.3% y-o-y from $3.7 billion in precisely the exact same period this past year. Essential deals include the purchase of a home improvement site in Shanghai with a joint venture between Yanlord Land Group and also Huafa Industrial Zhuhai for roughly $0.9 billion (RMB4.5 billion) in addition to the buy of Pinnacle Office Park at Sydney, Australia, by Keppel REIT for $303.3 million (A$306.0 million).

Read related story: Home Sales Volume Gained 58.1% in Extravagance during Q2

Home Sales Volume Gained 58.1% in Extravagance during Q2

The very best profit during the week of Sept 15 to 22 was out of the sale of a 3,595 sq ft unit in Island View on Jalan Mat Jambol at District 5. Previously bought for about $ 1.48 million ($412 psf) in August 2000, it had been sold for about $ 3.8 million ($1,057 psf) on Sept 17. The four-bedroom apartment reaped a 157% gain of $2.32 million to the vendor, which translates into an annualised gain of 4.8% over a holding period of 20 decades.

Island View is a 72-unit freehold development situated within a 10-minute stroll to Pasir Panjang MRT Station on the Circle Line. It’s within a five-minute driveway to NUS, NUH, Fusionopolis and Insead, in Addition to a 15-minute drive into the CBD and Holland Village.

The 2nd top advantage of this week was out of the sale of a 2,411 sq feet, four-bedroom unit in The Waterside on the 13th floor. It consequently reaped a $2.05 million gain for the vendor, or an annualised 4.3% over 181/2 decades.

The Waterside on Tanjong Rhu Road at District 15 includes 502 units across six cubes. The freehold growth is situated contrary Dunman High School and is 10 minutes by foot into Katong Park and East Coast Park.

The next greatest gain was created by the vendor of a unit in The Chuan, a 106-unit growth by Kheng Leong Co at District 19. The job is 99-year leasehold.

The 1,464 sq ft unit with four bedrooms, situated on the 14th floor, was offered for about $ 2.35 million ($1,605 psf) on Sept 17. It had been formerly bought for about $ 1.066 million ($728 psf). This afforded a 120% gain of $1.284 million, or an annualised gain of 5.7% more than 14 decades, for the vendor.

The Chuan is a four-minute stroll into Lorong Chuan MRT Station on the Circle Line. Nearby malls comprise Junction 8 and Nex Shopping Centre.

On the flip side, the very best reduction over the week in review was incurred from the vendor of a 5,113 sq ft duplex penthouse in Latitude. The 23rd-floor unit includes a private elevator lobby and loves condominium amenities like a swimming pool, tennis court and playground. This meant that the vendor endured a 28% reduction of $3.5 million, which can be annualised at 4.2% over 71/2 decades.

It’s close Great World City shopping center and will be a 10-minute walk into the coming Great World MRT Station.

The Ryse Residences enbloc

The selling of a 3,218 sq feet, four-bedroom unit in Wing On Life Garden has been the most lucrative trade during the week of Sept 8 to 15. The device changed hands for about $ 6.2 million ($1,926 psf) on Sept 11, and was purchased for $2.17 million ($672 psf) in March 1999. This usually means the price has got the seller a clear profit of $4.02 million (185%), which translates into an annualised gain of 5% within 211/2 decades.

The Ryse Residences, mixed development developed by Allgreen Properties & Kerry Properties. For official The Ryse Residences enbloc and showflat appointment to be obtained at www.theryse.sg.

Additionally, this is the most lucrative resale trade ever recorded in the freehold development. It beat the previous record set in 2015, which included a 3,305 sq ft unit which created $3.2 million (139%). This unit travelled for $5.5 million ($1,664 psf) on Feb 15 and was purchased for about $ 2.3 million ($696 psf) back in April 2005.

The 81-unit development has been finished in 1982 and contains four- plus five-bedroom components which vary from 3,218 sq feet to 7,610 sq ft. The condo is situated between Anglo-Chinese School (Barker Road) and Singapore Chinese Girls’ School, also is close Stevens and Newton MRT Stations.

The week in review also found the selling of a 2,713 sq feet, four-bedroom unit in Sky @ Eleven, a freehold improvement in District 11. This usually means the seller got $1.84 million (72%), which translates into an annualised gain of 4% over 131/2 decades. It was the 2nd most rewarding component of this week.

Sky @ Eleven is situated on Thomson Lane from the primary Thomson Road. The 273-unit development includes three- and – four-bedroom units of 1,851 sq feet to 2,8120 sq feet, and penthouses ranging from 4,843 sq feet to 5,597 sq ft.

The growth has listed seven resale arrangements this season, and also the Sept 11 trade has been the very rewarding so much this season. It’s followed by the sale of a 2,271 sq ft unit that brought $3.5 million ($1,541 psf) on July 28 this season. Therefore, the seller made a $1.39 million (66%) profit on the sale of the unit, which also translates into an annualised gain of 3% over 13 decades. The remaining part of the resale trades this season led to earnings ranging from $250,000 to $1.34 million.

The most unprofitable trade during the week happened at Village @ Pasir Panjang, a freehold development along Pasir Panjang Road in District 5. While this unit has been purchased for approximately $ 2.65 million ($1,311 psf) at April 2014, the vendor made a reduction of $503,160 on the purchase, which translates into an annualised reduction of 3% over six decades.

Village @ Pasir Panjang is a 148-unit advancement which has been completed in 2016. It includes two- and – three-bedroom units ranging from 818 sq feet to 2,024 sq ft. The evolution is currently available through Pasir Panjang Road and the West Coast Highway, also is near the National University of Singapore.

You’ve only been resale arrangements at the evolution over the previous two decades, and all them happen to be unprofitable. The Sept 11 resale was the very unprofitable transaction up to now. The second most populous was that the purchase of a 1,033 sq ft unit at May 2018 for about $ 1.42 million ($1,374 psf). Since the owner purchased it for $1.59 million ($1,541 psf) at January 2013, the purchase resulted in a $172,800 reduction, or an annualised reduction of 2% over five decades.

Losses from additional resale arrangements at the growth ranged from $50,800 to $168,000.

The Ryse Residences layout

A freehold penthouse in Vibes @ Kovan, situated along Kovan Road at District 19, is in the marketplace for $898,000 ($1,193 psf) via private treaty, based on Edmund Tie, which is managing the sale.

Review on Allgreen Properties & Kerry Properties, The Ryse Residences layout, official project details, and showflat appointment.

Spanning 753 sq feet, the penthouse unit is located about the fifth floor of this evolution and contains two bedrooms. The master bedroom is on the top amount of this unit, and has a roof terrace with jacuzzi, states Joy Tan, head of sales and auction in Edmund Tie. The device also offers unblocked views of this Kovan property, she adds.

The device transacted in March 2011 for $873,500 ($1,159 psf), dependent on caveats lodged with URA. Tan considers the unit will probably be appealing to owner-occupiers and investors because of its”very handy and accessible place”. The development is near Kovan MRT Station about the North-East Line and Serangoon MRT Interchange Station on the North-East and Circle Lines. It’s also near schools like Paya Lebar Methodist Girls’ School, St Gabriel’s Primary School and Maris Stella High School, and recreational centers such as Kovan Sports Centre and Serangoon Sports Centre. Modern Montessori Child Care is nearby which may appeal to homeowners with younger kids, Tan adds.

She also says there has been a”healthy” amount of people from the general public, despite Covid-19 dampening market thoughts. The majority of people that are interested are possible owner-occupiers since the evolution is near a broad assortment of comforts, eateries and malls.

Tan estimates the unit at the evolution may fetch rents of $2,100 a month, according to current caveats lodged with URA.

Finished in 2014, Vibes @ Kovan includes 34 units across five storeys.

The Ryse Residences condo price

These black-and-white bungalows, some of which was rented out to beverage and food operators, will shortly be a part of Singapore’s very first campus-style integrated growth disperse across 2.4ha of property from one-north, stated CapitaLand at a media statement yesterday.

The Ryse Residences condo price bid of nearly $700 million works out to $648.48 psf per plot ratio (ppr) based on the total gross floor area of 1.02 million sq ft.

Rochester Commons, the 400,000 sq feet project developed and operated by the business, are going to have 17-storey Grade A office tower.

Of those 12 bungalows, seven would be for workplaces and the remaining five to get beverage and food or retail usage.

It is going to also have a resort which will be managed by CapitaLand’s lodging unit, The Ascott Limited, beneath the Citadines Connect manufacturer.

Among the critical characteristics of the evolution will be Catapult, South-east Asia’s initial shared executive education center which will use technologies like virtual reality (VR) and augmented reality to provide training programmes.

The center, which concentrates on areas like innovation and leadership, is aimed at grooming executives for direction agility and equipping them with future-ready abilities.

A number of its learning strategies have been trialled in Catapult’s showroom in the Bridgeco-working area in the Ascent construction at Singapore Science Park 1. The showroom’s centrepiece is a 180-degree immersive display which enables shared VR viewing encounter during workshops and can be outfitted with virtual conferencing capacities.

CapitaLand Singapore’s chief executive Tan Yew Chin stated:”As individuals and companies adapt to the article Covid-19 surroundings, executive education and reskilling are going to likely be important.”

“Catapult was made to ease cross-learning and media within an state-of-the-art campus. Catapult may also feature an internet platform where students and knowledge suppliers can find out, innovate and socialize for the future market.”

CapitaLand explained that the growth of Rochester Commons is in accord with this Government’s vision of a world-class learning ecosystem at the study and understanding heart of one-north.

Developed by international design firm Gensler, Rochester Commons will include one digital identity accessibility which makes it possible for tenants to maneuver through the whole development through facial recognition, QR code scan or access cards.

Property managers may also tap a cloud-based smart construction platform to draw energy and space utilization data to optimise construction functions for customers’ comfort.

Similarly, the 135-unit Citadines Connect Rochester Singapore hotel provides guests a sleek tech-enabled encounter through cellular keys, self service kiosks and support robots which perform concierge jobs.

The Ascott Limited oversees Citadines Fusionopolis Singapore along with the approaching lyf one-north Singapore.

The Ryse Residences showroom

The director of Frasers Centrepoint Trust (FCT) is likely to get the residual 63.1% stake in PGIM’s Asia Retail Fund (ARF), presently held by Frasers Property (FPL) for $1.06 billion. ) FCT’s supervisor is also proposing to divest Bedok Point for an account of $108 million.

The Ryse Residences showroom will have a commercial and residential component which is integrated with the future bus interchange.

Upon the conclusion of the trades, FCT’s retail properties in its portfolio increases from seven to 11 malls, which makes it one of the biggest suburban retail mall owners in Singapore. The total net area is going to be enlarged by roughly 64% to 2.3 million sq ft. The catchment population increases from two million to approximately 3 million, and is estimated to rise to 3.15 million in five years’ period.

More than half of those retail operators at ARF Are Crucial services, based on Richard Ng, CEO of Frasers Centrepoint Asset Management. Along with the first seven malls, FCT will set a solid presence from the south-west and eastern areas of Singapore, he adds.

To finance the purchase, the supervisor has declared a $1.39-billion positioning and preferential equity fund raising. The purchase fee payable to the director for the projected ARF acquisition is $19.3 million. Following the projected equity fund raising, FCT will be among the best 10 S-REITs in Singapore by market capitalisation.

Ng says the two portfolios are complementary, together with crucial shopping malls in both portfolios located alongside key transportation nodes like MRT stations and bus interchanges.

Besides fundamental services, malls also function as a social hub, because public services are also contained.” For Example, he cites Northpoint City which homes Yishun Public Library and Nee Soon Central Community club.

FCT will continue to pursue omni-channel retail opportunities, like incorporating both loyalty plans from ARF and FCT, which have a joint loyalty foundation of 8,000 shoppers in Singapore.

For both portfolios, mall shopper visitors as at July have recovered to between 60% and 70% of the year’s level.

The Ryse Residences condo Pasir Ris

Future house owners of a Build-To-Order (BTO) job in Punggol are confronting a one-year delay following the Housing Board (HDB) terminated the assistance of the construction contractor this past month.

The Ryse Residences condo Pasir Ris is located next to the existing Pasir Ris MRT station (EW1), the development enjoys a strategic location that gives its residents remarkable convenience accessing the nearby amenities and facilities.

The initial estimated completion date has been the very first quarter of next season for Block 653A, and also the next quarter of next year to the remaining blocks.

HDB stated it’s been tracking the progress of functions at Waterway Sunrise II.

On July 28, the builder advised HDB that because of problems in continuing with the job, it might need to stop operations on site.

HDB didn’t define what these issues are. Calls and e-mails in The Straits Times into Lian Ho Lee Construction went undercover on Thursday.

“Since the builder had failed to carry out its responsibilities efficiently, we terminated their solutions to protect the attention of flat-buyers. We’ve started the process to rapidly bring on board a new contractor to finish the rest of the works,” explained HDB.

Meanwhile, a contractor was made to ensure the website and to give environmental management services like the avoidance of mosquito breeding.

Presently, the housing project is roughly 45 percent finished. It premiered in February 2017.

“As a consequence of the Covid-19 circuit breaker steps, the conclusion of this construction contract and the extra time required to secure a new builder, we anticipate a projected delay by about 12 months,” explained HDB.

“We all recognise the annoyance this brings to our apartment buyers and will try our very best to minimise the flaws.”

Flat buyers will probably be kept updated on the revised completion date during My HDBPage as building advances.

An adjoining BTO job, Waterway Sunrise I, that was established in November 2016, seems to be farther along the building process, The Straits Times observed during a trip on Thursday.

HDB had said that some BTO jobs will be postponed by about six to eight months past their estimated completion dates because of Covid-19, though it would try to decrease the delay where possible.

Home owners, a lot of whom had anticipated to move into their new apartments next calendar year, took to personal group discussions on Telegram and Facebook began by residents in precisely the exact same BTO project to share their frustration.

Accountant Adrian Gan, 27, along with his fiancee opted to get a four-room apartment through the selling of Balance Flat plot rather than the BTO plot in hopes of shortening their waiting period.

Among his concerns is all about potential flaws in his future dwelling.

“The matter is if the grade of the initial contractor will probably be up to level and should the new contractor will be diligent enough to perform a proper handover and assess through. The rush variable to fit the new deadline may also result in sub-par functions,” explained Mr Gan.

Another resident who desired to be understood just as Ms Sukina stated she’s been leasing a bedroom for the previous 14 decades, changing as many as five occasions.

The 55-year-old office , who now pays $600 in monthly lease, was awaiting her two-room flexi apartment and was frustrated to hear of this delay.

She explained:”It is difficult to remain in a rented home because not all of landlords will allow you to stay for several decades. When I eventually managed to find this BTO apartment after several attempts, I thought because I have waited for so many decades, it is fine to wait around for another four decades, but this happens.”

The Ryse Residences by Allgreen

It was not Covid-19 that triggered the group at Allgreen Properties to embrace a 270-degree, multi-sensory, immersive virtual experience to the new Fourth Avenue Residences revenue gallery. Instead, it was science fiction; yet to be precise, the 2002 Steven Spielberg science fiction film Minority Report place in 2054. The human-computer interface made by subsequently MIT PhD research student John Underkoffler for the film 20 decades ago has become very real now.

Review on The Ryse Residences by Allgreen Properties & Kerry Properties Emerged As The Developer of The Ryse Residences mixed development (condo+Mall).

Contrary to Minority Report, that price US$102 million to create, Allgreen Properties spent about $300,000 in its own”270-degree multi-sensory immersive theatre, holographic showflat screens and Interactive 3-D project version program” for the revenue gallery. “We thought of performing a entire digital experience before Covid-19, but the time proven to be helpful,” he states.

As an example, the 3D holographic, 16-inch (40.6-cm) screens were imported from the united states, and use hand gestures to browse about six distinct showflats. An individual may also zoom to a particular unit from the project and realize the true view in your unit as one goes up every floor — in the fourth, fifth or 10th floor, describes Lim. The fantastic thing about using hand gestures (in this situation, one’s fist) rather than touchscreen inside this Covid-19 age is the fact that it’s contactless, he adds. “We’re the primary developer to embrace this cutting edge technologies ”

The move towards an electronic experience was also inspired by a really practical reason: website restriction. This is since the first sales gallery was located on the true website of this undertaking, and needed to be demolished last December to make way for construction of this 476-unit, high-end personal condominium. “We had to have a different sales gallery to keep with our advertising and marketing campaigns,” explains Lim.

The developer also desired a place near the real project. It had been used to construct the revenue gallery of its own other endeavor beneath the Bukit Timah Collection, specifically the 285-unit Royalgreen, that was established last October. This resulted in the concept of dividing a part of the TOL website, especially the auto park, to be built to the gallery for Fourth Avenue Residences. This makes it suitable for promotion representatives to”cross-sell” the jobs, ” says Lim.

The land area that has been carved up was just 250sqm(2,691sqft)–about20%to25%ofa average sales gallery which could accommodate three showflats. Without the luxury of room for bodily showflats, Allgreen chosen for”a brand new electronic experiential journey” to your new gallery. “While it had been intended last December — before the Covid-19 circuit breaker steps — it was be the ideal move to leverage the electronic platform for our advertising and sales campaigns,” adds Lim. “The Covid-19 pandemic has accelerated the electronic transformation and unlocked new expansion opportunities.”

But, Covid-19 did induce a delay in the introduction of this new sales gallery by several three to four weeks. “Due to this circuit breaker, we just finished the carcass of their revenue gallery at early April,” recounts Lim. “We had initially targeted to start the new revenue gallery in April.” However, the circuit breaker had intended the closure of sales suspension and galleries of bodily screening and sales action for 2 1⁄2 months.

Since the introduction of the revenue gallery on Aug 1, Allgreen has offered 20 units at Avenue Residences. This is a pickup in earnings momentum in comparison to July, when 11 units were marketed; and June, when seven components were marketed. Typical cost of units sold so far is 2,371 psf, dependent on caveats lodged with URA Realis. “The overall average cost was preserved, though there were several cost adjustments for various units,” notes Lim.

For example, Allgreen is presently offering buyers a collection of one- and – midsize components where maintenance charges will be waived for its initial couple of decades. “We consider buyers of these units have a tendency to be investors that wish to rent out their flats,” explains Lim. “With two decades’ free maintenance fees, they’ll have the ability to enjoy a superior rental return.”

These entrance costs have enticed those in the Outdoor Central Area (OCR) regions of Bukit Batok, Hillview Avenue and Upper Bukit Timah, in Addition to those in the city-fringe or breakout of Central Region (RCR), for Example, the Serangoon region.

Fourth Avenue Residences is also gaining from the buzz at the Bukit Timah area, after the launching of a commercial and residential website at Jalan Anak Bukit at June. The government property earnings (GLS) website can be found close to the up- coming Beauty World integrated transportation hub.

The MRT station are also directly linked to a upcoming 1.4km skies park which will be constructed over the Bukit Timah canal, and can even stretch to Elm Avenue and the Rail Corridor. It will form a part of this Bukit Timah-Rochor Green Corridor involving Bukit Timah Road and Dunearn Road and expanded to the Kallang Riverside later on.

Lim foresees there might be some delay at the project completion interval, which was initially scheduled for August 2022, as a consequence of the Covid-19 outbreak at the overseas workers’ dormitories within the previous four weeks. “The building workforce has not fully resumed work nonetheless, and a few of the employees also have chosen to go back to their home nation,” he states. “That will influence the structure period for jobs, and we believe the delay might be over six months”

The URA personal residential home price index really showed a 0.3% q-o-q uptick at 2Q2020 in contrast to a 1% fall q-o-q at 1Q2020.