Singapore Real Estate
Serviced apartments for longer-term stay in the works for renters: Desmond Lee
Singapore – A new class of serviced apartments for longer-term stay is in the works to better meet rental demand from Singaporeans waiting to collect the keys to their new homes or for their renovations to be completed, as well as those who are here to work or study.
https://www.youtube.com/watch?v=RjN12TgziO0
https://www.businesstimes.com.sg/property/government-pilot-long-stay-serviced-apartments-two-gls-sites-address-rental-demand
https://www.straitstimes.com/singapore/serviced-apartments-for-longer-term-stay-in-the-works-for-renters-desmond-lee
https://www.todayonline.com/singapore/singapore-expand-pool-serviced-apartments-will-test-new-category-3-month-minimum-stay-rule-2315381
https://www.edgeprop.sg/property-news/upcoming-gls-sites-upp-thomson-rd-and-zion-rd-will-incorporate-new-class-%E2%80%98long-stay%E2%80%99-serviced
https://www.channelnewsasia.com/business/government-pilot-3-month-minimum-stay-serviced-hdb-flat-apartments-long-stay-renting-property-3953911
Explainer: What are some challenges in carrying out the Long Island reclamation and are there environmental concerns?
Singapore — Before plans are finalised to reclaim a land area twice the size of Marina Bay off Singapore’s eastern coast to counter the effects of rising sea levels, National Development Minister Desmond Lee said on Tuesday (Nov 28) that technical studies will have to be done first.
https://www.todayonline.com/singapore/explainer-long-island-reclamation-east-coast-multi-year-study-2315351
https://www.channelnewsasia.com/singapore/long-island-cna-explains-east-coast-reclamation-property-climate-3950566
Losing the ‘Hawaii of Singapore’: ‘Long Island’ project off East Coast worries sea sports lovers
Singapore: Sea sports enthusiasts in Singapore are worried and saddened by the prospect of their activities along East Coast Park’s shoreline being affected by the “Long Island” proposal.
https://www.channelnewsasia.com/singapore/long-island-east-coast-water-sports-sailing-windsurfing-kitesurfing-3953321
Companies’ Brief
Keppel buys into major European property asset manager
Singapore – In a major move to expand its footprint beyond the Asia-Pacific, Keppel Corp has bought a 50 per cent stake in leading European asset manager Aermont Capital for $517 million.
https://www.straitstimes.com/business/keppel-buys-into-major-european-property-asset-manager
https://www.channelnewsasia.com/business/singapores-keppel-buy-aermont-capital-1-billion-expand-europe-3953661
https://www.theedgesingapore.com/news/ma/keppel-acquire-50-stake-european-asset-manager-aermont-capital-517-mil
Manulife US Reit plans to divest assets, get sponsor loan and halt distributions until end 2025
Singapore – Manulife US Real Estate Investment Trust (Manulife US Reit) plans to raise funds through a mix of asset dispositions and a sponsor-lender loan to remedy its financial covenant breach, its manager said on Nov 29.
https://www.straitstimes.com/business/manulife-us-reit-plans-to-divest-assets-get-sponsor-loan-and-halt-distributions-until-end-2025
https://www.theedgesingapore.com/news/reits/manulife-us-reit-restructures-existing-facilities-through-recapitalisation-plan-reduce
Global Economy & Real Estate
Global growth to slow but avoid a hard landing, says OECD
https://www.businesstimes.com.sg/international/global-growth-slow-avoid-hard-landing-says-oecd
https://www.channelnewsasia.com/business/global-growth-slow-avoid-hard-landing-oecd-3953596
US economy grew 5.2% in third quarter, more than first estimated
https://www.businesstimes.com.sg/international/global/us-economy-grew-52-third-quarter-more-first-estimated
US Federal Reserve finds signs of slowing economic activity
https://www.businesstimes.com.sg/international/us-federal-reserve-finds-signs-slowing-economic-activity
https://www.straitstimes.com/business/economy/us-fed-finds-signs-of-slowing-economic-activity
China new home prices now seen climbing this year after policy steps: Reuters poll
https://www.channelnewsasia.com/business/china-new-home-prices-now-seen-climbing-year-after-policy-steps-reuters-poll-3953501
China jobs: how much employment pressure is the world’s second-largest economy facing?
https://www.scmp.com/economy/economic-indicators/article/3243244/china-jobs-how-much-employment-pressure-worlds-second-largest-economy-facing
Hong Kong’s Sun Hung Kai prices Yoho West flats at six-year low, readies for biggest weekend of property sales since July ‘22
https://www.scmp.com/property/article/3243272/hong-kongs-sun-hung-kai-prices-yoho-west-flats-six-year-low-readies-biggest-weekend-property-sales
‘Helpless’: can Hong Kong logistics firms survive eviction? Uncertain future as government takes back New Territories brownfield sites
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3243136/helpless-can-hong-kong-logistics-firms-survive-eviction-uncertain-future-government-takes-back-new
South Korea factory output unexpectedly drops in October
https://www.businesstimes.com.sg/international/south-korea-factory-output-unexpectedly-drops-october
https://www.channelnewsasia.com/business/south-korea-oct-factory-output-falls-most-10-months-weaker-chip-production-3955181
Swedish economy in recession as consumers pare back
https://www.businesstimes.com.sg/international/swedish-economy-recession-consumers-pare-back
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