Today’s regional news highlights include an effort by the Singaporean government to increase the availability of public housing in the island nation’s eastern suburb and an investment commitment from the Japanese firm Daiwa House to support a construction-for-rent venture in Australia’s capital city of Melbourne by the Australian firm Lendlease. The slowdown in China’s housing price recovery and a warning from Singapore’s Ho Bee Land also made the cut.
Simei, located in eastern Singapore, will soon see new public housing constructed on two separate sites.
The Urban Redevelopment Authority has suggested a change to its master plan that would rezone two pieces of property on Simei Road from their current educational use to residential.
Daiwa House, a Japanese firm, is funding a new build-to-rent project in Melbourne by a local powerhouse, Lendlease.
This comes after Mitsubishi, Grand Dunman, Grand Dunman Balance unit chart, Grand Dunman Showflat became a significant investor in Mirvac’s niche industry, and as offshore funds maintain their dominance in the sector.
Data released on Saturday indicated that the price of a new house in China remained unchanged in June, the worst result this year and adding to the pressure on officials to further stimulus as the economic recovery continues to sputter.
According to Reuters estimates based on National Bureau of Statistics data, the flat result from a month earlier was below May’s 0.1 percent increase, with advances decreasing countrywide. After rising by 0.1% in May, prices stabilized in June and were unchanged from a year earlier.
As a result of a fair value loss on its portfolio of investment properties in London, Singapore’s Ho Bee Land has announced that it would declare a net loss for the six months ended in June.
“The fair value loss on the London portfolio is non-cash in nature and arose mainly due to higher capitalization rates,” the firm stated on Friday. Scalpel, a London skyscraper, was Ho Bee’s most recent major real estate purchase in February 2022.
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