{"id":46247,"date":"2017-03-03T11:36:23","date_gmt":"2017-03-03T04:36:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-report-puts-spotlight-on-bukit-sembawang\/"},"modified":"2017-03-03T11:51:06","modified_gmt":"2017-03-03T04:51:06","slug":"dbs-report-puts-spotlight-on-bukit-sembawang","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-report-puts-spotlight-on-bukit-sembawang\/","title":{"rendered":"DBS report puts spotlight on Bukit Sembawang"},"content":{"rendered":"


\nAbout 75 percent of Bukit Sembawang\u2019s 2.8 million sq ft landbank in Singapore is still undeveloped.
\nDespite a drop in third quarter earnings to $5.4 million, Bukit Sembawang saw its shares rise 7.84 percent to close at $5.23 on Thursday, reported the Straits Times.
\nIn fact, over 808,000 shares changed hands, or almost nine times the average daily trading volume of the developer since February 2016.
\nThis comes after a DBS Bank report dubbed the low-profile property developer the \u201cLandlord King\u201d.
\nDBS analysts Rachel Tan and Derek Tan noted that the rubber firm turned property developer owns one of the biggest tracts of freehold land, which formerly were rubber plantations.
\nOf its over 2.8 million sq ft landbank, 75 percent are still undeveloped and zoned for landed properties, primarily in Sembawang, Seletar and Ang Mo Kio.
\nGiven the limited land supply in Singapore, this makes Bukit Sembawang an attractive takeover target.
\nThe developer\u2019s major shareholder, OCBC Bank\u2019s Lee family (44 percent stake), may be in the mood for \u201cdivestment\u201d, considering their history of similar moves, notably Asia Pacific Breweries and Fraser & Neave.
\nMr Tan attributed the hike in stock price to market talk of potential mergers in the developer arena, for companies like United Engineers.
\nAlan Cheong, Research Head at Savills Singapore, recently observed a re-rating of property stocks in the stock prices of Wing Tai, Far East Orchard and Wheelock Properties.
\nAccording to him, the market appetite may have been \u201ckick-started\u201d by the analyst report.
\n\u201cPeople are sick of listening to the bearish storylines of property. They are finding resilience in property prices,\u201d said Cheong, who believes property prices have bottomed out.
\nBukit Sembawang\u2019s downside, however, is the possibility that it could pay qualifying certificate penalties on account of its two projects \u2013 Paterson Collection and St Thomas Walk \u2013 should they remain unsold by Q3 2017 and 2019 respectively.
\nNonetheless, \u201ca bulk sale of the projects could mitigate that risk\u201d, the analysts wrote.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…DBS report puts spotlight on Bukit Sembawang<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

About 75 percent of Bukit Sembawang\u2019s 2.8 million sq ft landbank in Singapore is still...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-46247","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-c1V","jetpack-related-posts":[{"id":59959,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-sembawang-sells-18-watercove-units-ahead-of-launch\/","url_meta":{"origin":46247,"position":0},"title":"Bukit Sembawang sells 18 Watercove units ahead of launch","date":"July 6, 2017","format":false,"excerpt":"\r Urban Redevelopment Authority caveats showed that the units were sold from around S$2.3 million, which works out to an average psf price of around S$738. (Image: Bukit Sembawang Estate) Watercove, Bukit Sembawang Estate\u2019s seafront project, sold at least 18 units ahead of its official launch on Saturday, reported The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83517,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/makeway-view-sold-for-168m-to-bukit-sembawang\/","url_meta":{"origin":46247,"position":1},"title":"Makeway View sold for $168m to Bukit Sembawang","date":"March 23, 2018","format":false,"excerpt":"\r Makeway View comprises 28 apartments and four penthouses, and is close to Newton MRT interchange. (Photo: Edmund Tie & Co) The freehold Makeway View condominium in Newton has been sold to Bukit Sembawang Estates for $168 million, marketing agent Edmund Tie & Co said on Thursday (22 Mar). Completed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rare-sea-facing-landed-homes-to-launch-in-sembawang\/","url_meta":{"origin":46247,"position":2},"title":"Rare sea-facing landed homes to launch in Sembawang","date":"May 22, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Watercove, an 80-unit freehold strata landed project. Image source: Bukit Sembawang Estates A new freehold strata landed housing development located next to Sembawang Park at the end of Sembawang Road is expected to go on sale soon. Called Watercove, the 80-unit project is being developed by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110407,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/91-of-luxus-hills-sold-on-preview\/","url_meta":{"origin":46247,"position":3},"title":"91% of Luxus Hills sold on preview","date":"September 2, 2019","format":false,"excerpt":"\r All 32 homes offered for sale during the first day of preview on 30 August (Friday) were immediately snapped up by buyers, forcing the developer to release the remaining 46 units for sale. Unit prices ranged from $3.058 million to $4.2 million. Bukit Sembawang Estates\u2019 Luxus Hills (Signature Collection)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-park-towers-sold-to-bukit-sembawang-for-345-million\/","url_meta":{"origin":46247,"position":4},"title":"Katong Park Towers sold to Bukit Sembawang for $345 million","date":"March 16, 2018","format":false,"excerpt":"\r The sale price is about 20 percent above the reserve price of $288 million. (Photo: Cushman & Wakefield) Katong Park Towers in District 15 has been sold to a subsidiary of Bukit Sembawang Estates for $345 million, about 20 percent above the reserve price of $288 million, said Cushman\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106813,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-sembawang-estates-wins-international-design-award-for-8-st-thomas\/","url_meta":{"origin":46247,"position":5},"title":"Bukit Sembawang Estates Wins International Design Award For 8 St Thomas","date":"May 3, 2019","format":false,"excerpt":"\r The developer also took home the Best Luxury Condo Architectural Design (Asia), and the Best Luxury Condo Development (Singapore) awards with 8 St Thomas at the 2018 PropertyGuru Asia Awards. Bukit Sembawang Estate\u2019s luxury development, 8 St Thomas, has taken home the Silver Award in the high-end residence category\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46247"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=46247"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46247\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=46247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=46247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=46247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}