Homepage
PR Newswire
In recent times, Singapore's office space has seen no interested buyers willing to match office space valuation
https://www.businesstimes.com.sg/propert...01oU9mGnKx
There are floor spaces being vacated in the CBD but unsurprisingly many valuers have painted office spaces as good with CAP rates abscribed being even lower than SORA rate.
No doubt Capland says its aiming for 200B FUM with current progress at 100B FUM. However, if most of its assets are in Singapore (which it is), I do feel it is unrealistic. Singapore property market has been using close to fraudlent valuation inputs and ground reality is that funds are not willing to match to the prices unless special circumstance are made. For example, in the failed Far East Shopping Centre (part retail/part office), the buyer wanted URA to grant 20% more floor area beyond the GPR which is unrealistic and definitely beyond what the master plan had provisioned. If it had been granted, many would question whats the use of URA 5 yearly master plan
I am not a capland investor, however, it would have been nice if someone had asked the soundness of the local Capland REIT valuers who had used Cap rates which at times are lower than SORA.
https://www.businesstimes.com.sg/propert...01oU9mGnKx
There are floor spaces being vacated in the CBD but unsurprisingly many valuers have painted office spaces as good with CAP rates abscribed being even lower than SORA rate.
No doubt Capland says its aiming for 200B FUM with current progress at 100B FUM. However, if most of its assets are in Singapore (which it is), I do feel it is unrealistic. Singapore property market has been using close to fraudlent valuation inputs and ground reality is that funds are not willing to match to the prices unless special circumstance are made. For example, in the failed Far East Shopping Centre (part retail/part office), the buyer wanted URA to grant 20% more floor area beyond the GPR which is unrealistic and definitely beyond what the master plan had provisioned. If it had been granted, many would question whats the use of URA 5 yearly master plan
I am not a capland investor, however, it would have been nice if someone had asked the soundness of the local Capland REIT valuers who had used Cap rates which at times are lower than SORA.