The Week In Numbers: Grateful Landlords and Gloomy Tenants

Universal Studios plans to build its first theme park in China at an estimated cost of $3.3b. It reportedly took 13 years to agree the deal with Chinese authorities. When the two parties first started talking, Harry Potter was probably still trying to work out how to cast his first spell.

While no opening date has been announced, people in the know reckon that it could be ready by 2019. The theme park, which will be built on a 300-acre site, could eventually expand to 1,000 acres. By comparison, Universal Studios Singapore, which nestles in a corner of Genting Singapore’s (SGX: G13) Resort World Sentosa, measures just 49 acres.

Good news for office landlords could be no-so-welcome news for office tenants. According to estate agent Colliers International, monthly rents for premium grade office that include Asia Square rose 6.1% to S$11.67 per square foot in the third quarter. Meanwhile, monthly rent for Grade A offices climbed 2.9% to S$10.25 per square foot. These offices include Six Battery Road, which is part of a portfolio of properties managed by CapitaCommercial Trust (SGX: C61U) and Republic Plaza, which belongs to City Developments (SGX: C09).

Staying with bricks and mortar, a grand total of 648 private homes were sold by developers in October. While the numbers were better than the 437 units sold during the Hungry Ghost month of August, it pales in comparison to the appetising 1,237 units sold in September last year. It would seem that the cooling measures introduced last year has not just dampened demand but frozen many buyers out of the market, completely.

The almost unthinkable has happened. The price of a barrel of crude oil has slid below $84 a barrel. It was only in June that a barrel of the black gooey liquid cost almost $110. But just four months later, the price has plunged to a 47-month low. For now, it looks as though OPEC, the oil cartel, is happy to sit on its hands and allow prices to slide. Falling oil prices may not be the best of backdrops for the raft of Singapore’s oil-related companies that include Ezion Holdings (SGX: 5ME) and Ezra Holdings (SGX: 5DN), though.

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