S'pore Is 6th Hottest Market For Hotel Sales In Asia In 2007

Source : Channel NewsAsia, 21 January 2008

Hotel sales in Singapore topped US$376 million last year, putting it in sixth position in transaction activity in Asia.

This is a 3.5 per cent growth from 2006.

According to Jones Lang LaSalle Hotels, Japan saw the highest activity last year with US$6.8 billion of deals done, a 63 per cent jump from the previous year.

Jones Lang attributed the lure of Japan to the low cost of debt.

It added that while economic growth rates may not be as strong as some parts of the world, Japanese hotels still offer a positive yield spread.

Hong Kong trailed a far second with US$850 million of sales transacted, followed by China with US$727 million. - CNA/ac

GIC Real Estate In S$336m Deal To Develop Urban Township In Moscow

Source : Channel NewsAsia, 21 January 2008

GIC Real Estate is partnering with Russia's PIK Group to develop a large urban township in the city of Mytischi in Russia.

The 114-hectare site is located in the Moscow region to the northeast of the capital.

GIC Real Estate will acquire a 25 per cent stake in the project for US$233 million (S$336 million).

A CB Richard Ellis appraisal carried out 12 months ago valued the site at over US$1.3 billion.

The township will contain 50 high-rise apartment buildings and 13 low-rise commercial buildings.

There will also be five schools, seven kindergartens, two polyclinics and over 17,000 parking lots.

When completed in 2013, the development can house about 50,000 residents.

The PIK Group is one of the largest real estate developers in Russia. - CNA/ac

Genting International To Build Hotel At New S'pore Sports Hub

Source : Channel NewsAsia, 21 January 2008

A new hotel will be built at the new National Stadium and Sports Hub in Kallang.

The four-star hotel will have about 500 rooms and will occupy 30,000 square metres.

Dragages Singapore, which is the construction firm for the winning consortium -the Singapore Sports Hub, said that at least three groups expressed interest in building the new hotel, which will cost S$200 million to develop.

Singapore Sports Hub Group's dome-shaped stadium design

Even before last Saturday's announcement that the consortium had won the bid to build the new sports hub, Dragages had already been in talks with Genting International for the past few months.

Genting will build and run the new hotel for 25 years.

Ludwig Reichhold, Managing Director of Dragages Singapore, said: "The hotel was an option in our bid, which I think was to bring more life to the project which SSC liked very much. So it would be included in the construction, but it is only one component of the project."

However, details still need to be sorted out. These include finalising the financing with banks and negotiations with the Singapore Land Authority and Urban Redevelopment Authority over issues like development charges and the right to use the land.

The details have to be finalised before the paperwork can be signed in one or two months.

The head of the consortium said the hotel's construction will begin in the middle of 2008. The hotel's plot is near the two multi-purpose halls, the future MRT station and the main entrance road.

As for the sports hub, it will be called Premier Park and it's expected to generate at least S$10 million a year in commercial revenue, for a start.

Up to 75 per cent of the money will be used to fund activities and facilities at the hub.

Reichhold said: "The revenue is also linked to the expenditure. If the market is good, we will invest more money into the project to have more events and more facilities, to have more return."

The consortium plans to open the hotel at the same time as the new Sports Hub, which is in three years. - CNA/vm

Property Transactions Between Dec 10th - 28th, 2007

房地产市场料续淡静 新项目可能春节后才推出

《联合早报》Jan 21, 2008

美国次贷风暴越演越烈，刺激全球股市如过山车般大起大落。房地产界人士相信，这一两个月的房地产推出市场将继续保持淡静，发展商很可能要等到农历新年以后，甚至第二季，尘埃较为落定时，才会较积极地推出新私宅项目。

莱坊(Knight Frank)研究部主管麦俊荣认为，最近的国际动荡局势肯定会对市场上的购屋气氛起一定的影响，一些人可能因此采取观望的态度，不敢进场签下一纸买卖合约。

“市场可能出现一个短暂的拉锯现象，看到底是谁忍不住先‘眨眼’(blink)？”

他指出，发展商在过去三个丰收年头，已累积了足够的脂肪，现在拥有很好的持守能力，所以没有人会为了清除房子而开始削价，接下来的私宅价格即使无法继续上涨，也能稳住在现有的水平。

今年开年以来正式推出的私宅项目，只有丰隆集团的Aalto。这个位于东海岸一带麦雅路（Meyer Road)的永久地契共管公寓，其实早在去年8月已经举行了预售活动。因此，本月初正式推出前，这个共有196个单位的共管公寓，已卖出了大约60％的单位。

丰隆集团虽然选择正式推出Aalto，却对接下来的推出计划相当谨慎。该集团发言人曾告诉媒体，它可能暂时搁置一些未来的重建计划。

市场人士指出，现在发展商的手头上其实握有不少单位，单单是城市发展，只要赶一赶，就估计能够将大约2800个私宅单位推出市场销售。因此，发展商有必要谨慎地规划它们的推出计划，避免一下子推出太多的单位，造成市场消化不良。

市建局的数字显示，从今年至2010年，预计有4万1600个新私宅单位将完工，目前已有2万2700个单位在施工中。而发展商仍未售出的单位共有3万8000个。

因此，一些发展商宁可通过预售活动，以及只看不卖的“预展(preview)”活动，来试探温度。例如Marina Bay Suites的发展商并没有在上周的记者会上，公布确实的销售日期，只透露单位将“从本月底”开始预售，平均尺价从3000元起。

发展商去年推出 历来最多新单位

根据市场的初步数字，发展商在2007年一共推出了1万4049个新单位，是历来最多的一年，比2006年增加了27％。发展商卖出的新单位也创下历史新高，达到1万4826个新单位，不过，大约九成的需求量是在去年首9个月成交的，当时，房地产市场的气氛还没有被美国次贷、全球股市动荡，以及节节攀升的油价和通胀率等乌云笼罩。

展望今年，世邦魏理仕预测，今年的私宅价格指数还会上升10％至15％，不过，跟往年不同的是，绝大部分的涨幅将来自中低档领域。它也预测，发展商会在2008年推出1万2000至1万5000个私宅单位，并卖出9000至1万1000个私宅单位。

麦俊荣则预测，今年的售出单位将介于8000至9000个单位。“去年的1万4000个单位纪录，是不可能一直持续下去的。过去十年来，本地私宅的需求量每年平均只有7300个单位而已。”

有鉴于本地经济基础稳健，他估计，我国房地产市场今年预料将继续见证平均增长，全年涨幅将橛?0％至20％之间。

虽然许多市场人士相信整体屋价将稳住，不过也有一些分析员担心，二手市场可能出现一些抛售的情况。

过去一两年来，升涛湾、滨海湾和乌节路一带，被炒家扫了不少高档单位，推动新加坡的豪华公寓价格突破每平方英尺5000元的水平，比1996年楼市巅峰时的水平还要高一倍。随着房子的临时入伙日子慢慢接近，全球局势又动荡起伏，一些炒家可能日益感到不安，特别是那些利用延迟付款计划扫下多个单位的，更可能因为担心无法应付期款，而开始降价脱售单位。

今年可能推出的一些主要项目，包括升涛湾的几个新公寓项目，以及靠近乌节路的超级豪华项目如前豪景园、前兰馨园、Ardmore 3等。

至于郊外99年地契的共管公寓，则包括高文地铁站旁的西门路私人住宅地段、马林百列的SilverSeas、勿洛水池路的Waterfront Waves、淡滨尼11街的淡滨尼阁，以及白沙、碧山和宏茂桥8道的新公寓项目。不过，由于这些项目的地价都不便宜，所以推出价格都很可能“瞄准”在每平方英尺700元以上。