Perennial has picked up the former Mediacorp broadcasting site on Andrew Road
In today’s roundup of regional news headlines, a hilltop site in Singapore changes hands after a close-run contest, the UK emerges as the clear destination for Hongkongers fleeing upheaval, and Guocoland says it can’t account for unusual market activity involving its Malaysia-traded shares.
Perennial Buys Singapore Residential Site for S$280.9M
The sprawling hilltop site that formerly housed the Caldecott Broadcast Centre in Andrew Road has been sold for S$280.9 million ($211.9 million) to an entity jointly owned by Perennial Real Estate Holdings and its chairman, Kuok Khoon Hong.
Real estate consultants CBRE and Showsuite Consultancy, which were appointed to market the site, described the tender exercise that closed on 9 December as a “closely contested” one. Read more>>
Condo Rents Inch Up for 5th Month in Singapore
More people rented condominium units and Housing Board flats in November, even with border restrictions still in place.
The rental volume for condominiums rose 3.8 percent month on month to an estimated 4,443 units in November from 4,281 units in October, according to flash data from real estate portal SRX Property released on Wednesday. Year on year, private leasings are 1.1 percent higher than in November 2019, before the COVID-19 onset. Read more>>
UK Now Top Choice for Hongkongers Fleeing Political Upheaval
The UK is by far the most desirable destination for Hongkongers looking to up sticks and leave, with inquiries skyrocketing this year, according to Midland Immigration Consultancy.
The proportion of Hong Kong people considering a move to the UK has surged by nearly 50 percentage points to 84 percent of total emigration enquiries this year, data from Midland shows. Read more>>
Will the Fung Family Come Back for a Trinity Deal?
Crisis means opportunity for the Fung family, one of the most well-known trading houses since the last century.
This year the family led by Victor Fung and William Fung has been active. After privatising their flagship Li & Fung in a $930 million deal in the first half, they sold convenience store chain Circle K last month for $360 million. Read more>>
Guocoland Can’t Explain Unusual Market Activity
Guocoland Malaysia Bhd, the property development arm of the Hong Leong Group, has responded to an unusual market activity (UMA) query posed by Bursa Malaysia, stating that the group is not aware of any corporate development that would have caused a spike in its share prices.
On Wednesday the group was slapped with a UMA query after its share price surged 31.3 percent or 18 sen to 76 sen ($0.19). Read more>>
LJHB Buys into Keong Hong Holdings on the SGX
Mainboard-listed Keong Hong Holdings has a new substantial shareholder in LJHB Holdings.
LJHB, which primarily invests in real estate and hospitality assets, on Dec 15 acquired 49.4 million shares, representing a 21 percent stake in Keong Hong, from Ronald Leo, Keong Hong’s chairman and CEO. Read more>>
Keppel Clinches Sustainability Awards
One of the notable awards received by Keppel Land this year for its Singapore projects is the BCA Universal Design Mark Gold (Design) Award for The Garden Residences.
The Keppel Group bagged multiple awards from the Building and Construction Authority (BCA) this year in “recognition of its commitment to sustainability and excellence in the built environment”. Read more>>
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