Daily Briefing: Noble sells power, gas unit for $168m; Analysts forecast 15% growth in property market

And three roads in the Bidasari estate opened this week.

From Reuters:

Troubled Asian commodity merchant Noble Group said on Monday the final price for the sale of its American power and natural gas unit to rival trading house Mercuria was US$168m.

The original amount for the sale was to be around US$250m.

“The amount paid by the buyer... was subject to adjustment determined in accordance with the terms and conditions of the stock purchase agreement,” Noble Group said in a statement. 

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From The Motley Fool:

Analysts believe that 2018 will be the turnaround year for the Singapore property market. After 3 years of falling prices, analysts now forecast growth of between 3% and 15% for 2018. According to Alan Cheong, Savills Singapore’s senior director, the historical length of a property bull market is around 17.6 quarters. This means that if 2018 is positive, we could potentially see price growth in properties continue for three to four more years.

The Singapore property market appreciated 1% in 2017, compared to a drop of 11.6% over 15 quarters after 2013 when property-cooling measures were put in place. Rental rates of private homes have also declined by 12.5% since 2013 before stabilizing in the third quarter of last year.

Read more here.

From PropertyGuru:

Three new roads in Bidadari estate – Bidadari Park Drive, Alkaff Crescent and Woodleigh Link – will be partially opened on 14 January (Sunday) to serve the upcoming developments within the estate, revealed the Housing and Development Board (HDB).

Bidadari Park Drive road will serve as Bidadari’s main transportation spine as it will traverse the full length of the new estate, from Bartley Road to Upper Serangoon Road.

Read more here.