DAILY NEWS

Daily News – 29 Sep 2022 (Thu)

URA, MOH launch Parry Avenue site for private assisted living development
The Urban Redevelopment Authority (URA), together with Singapore’s Ministry of Health (MOH), on Thursday (Sep 29) put a site at Parry Avenue up for sale via tender. This will be for a pilot private assisted living development with senior-friendly features.
https://www.businesstimes.com.sg/real-estate/ura-moh-launch-parry-avenue-site-for-private-assisted-living-development

Serene Centre to go up for sale; Sultan Plaza plans to lower en bloc reserve price
Serene Centre, a freehold mixed-use development near Bukit Timah Road, will be put up for sale via tender on Thursday (Sep 29) with a reserve price of S$120 million, marketing agent Cushman & Wakefield said on Wednesday.
https://www.businesstimes.com.sg/real-estate/serene-centre-to-go-up-for-sale-sultan-plaza-plans-to-lower-en-bloc-reserve-price
https://www.straitstimes.com/business/property/serene-centre-launched-for-sale-via-tender-at-120-million

Q3 office rents near 14-year high; landlord’s market to extend into 2023: consultants
Despite global economic headwinds, Singapore’s office rents in the third quarter have exceeded the pre-pandemic peak to reach a near 14-year high, with expectations of continued strength next year.
https://www.businesstimes.com.sg/real-estate/q3-office-rents-near-14-year-high-landlords-market-to-extend-into-2023-consultants

Spike in Singapore hotel room rates reflects pent-up demand; affordable options still available, say experts
Singapore: The near-decade high in the average room rate for Singapore hotels reflects pent-up demand for travel resulting from the COVID-19 pandemic, but affordable options remain available, industry experts told CNA.
https://www.channelnewsasia.com/singapore/hotel-room-rates-demand-singapore-staycations-affordable-prices-2954066

Wages ‘increasing too quickly’ amid tight labour market could hurt S’pore, Govt to cushion impact of inflation: DPM Wong
Singapore — Amid a tight labour market and rising inflation, Singapore needs to manage the risks of a “destabilising wage-price spiral, where higher wages feed directly into higher prices”, Deputy Prime Minister Lawrence Wong said on Wednesday (Sept 28).
https://www.todayonline.com/singapore/wage-increase-high-cost-living-lawrence-wong-2005681
https://www.straitstimes.com/singapore/jobs/wage-growth-inevitable-but-cannot-outstrip-productivity-lawrence-wong

Sustainable work conditions as important as sustainable growth: MAS chief
Singapore – The concept of sustainability goes beyond climate change and runs through the whole gamut of policies that ensure economic stability, said the managing director of the Monetary Authority of Singapore.
https://www.straitstimes.com/business/economy/sustainable-work-conditions-as-important-as-sustainable-growth-mas-chief