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Property firms face setback as workers stay home


Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement.
SINGAPORE: Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement.
The government is trying to minimise the risk of transmission at offices after some cases in the workplace led to community clusters.
The move adds to headwinds for developers and REITs, amid questions over what the future holds for offices worldwide even after the pandemic. ....

Marina Bay , Singapore General , Jennifer Chia , Justin Tang , Chan Chun Sing , Knight Frank , Terence Chua , Patrick Wong , Frasers Property Ltd , City Developments Ltd , Capitaland Integrated Commercial , Frasers Hospitality , Mapletree Commercial , Phillip Securities Research Pte , Citigroup Inc , Mizuho Financial Group Inc , Capitaland Ltd , Law Corp , Phillip Securities Research , United First Partners , Commercial Trust , East Hospitality Trust , Frasers Hospitality Trust , Far East Hospitality Trust , Raffles Place , Industry Minister Chan Chun Sing ,

Singapore property firms face setback as workers stay home


(Feb 3): Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters.
The move adds to headwinds for developers and REITs, amid questions over what the future holds for offices worldwide even after the pandemic. It will be harder to lease out vacancies and there will be pressure to lower rents if the work-from-home arrangement persists, said Terence Chua, an analyst at Phillip Securities Research Pte. ....

Marina Bay , Singapore General , Jennifer Chia , Justin Tang , Chan Chun Sing , Knight Frank , Terence Chua , Patrick Wong , Frasers Property Ltd , Capitaland Integrated Commercial , City Developments Ltd , Frasers Hospitality , Mapletree Commercial , Phillip Securities Research Pte , Citigroup Inc , Mizuho Financial Group Inc , Capitaland Ltd , Law Corp , Phillip Securities Research , United First Partners , Commercial Trust , East Hospitality Trust , Frasers Hospitality Trust , City Developments , Far East Hospitality Trust , Raffles Place ,

JPMorgan's new Singapore home struggles to find tenants

SINGAPORE (Jan 19): Three years ago, it was touted as a development that would rejuvenate Singapore’s central business district. But an upcoming building in the city-state could have fallen victim to the pandemic, which has upended the office market as work from home remains a long-term arrangement for some companies. CapitaSpring, a 51-floor integrated development with JPMorgan Chase & Co as an anchor tenant, has only managed to secure about 38% out of 647,000 square feet (62,600 square meters) of net lettable area. That’s low considering it’s 75% completed. Typically at that stage in pre-pandemic times, buildings would have leased out more than half of their space, three analysts said. ....

Marina Bay , Singapore General , Knight Frank , Mitsubishi Estate Co , United Overseas Bank Ltd , Capitaland Integrated Commercial , Jpmorgan Chase Co , Group Holdings Ltd , Citigroup Inc , Mizuho Financial Group Inc , Capitaland Ltd , Land Ltd , Capitaland Integrated Commercial Trust , Raffles Place , Holdings Ltd , மெரினா வளைகுடா , சிங்கப்பூர் ஜநரல் , நைட் வெளிப்படையான , மிட்‌ஸ்யூபீஶி எஸ்டேட் இணை , ஒன்றுபட்டது ஓவர்‌ஸீஸ் வங்கி லிமிடெட் , சாப்பிடலன்ட் ஒருங்கிணைந்த வணிகரீதியானது , ஜுப்ம்ொர்கண் துரத்து இணை , குழு ஹோல்டிங்ஸ் லிமிடெட் , சிட்டி குழுமம் இன்க் , மீஜுஹோ நிதி குழு இன்க் , சாப்பிடலன்ட் லிமிடெட் ,