Singapore Real Estate/Built Environment
At least 2,000 new private homes to come on stream from projects set for Q3 launch
Some 2,300 new private homes are expected to be marketed in the third quarter of 2024, with up to nine project launches said to be lined up between now and end-September.
https://www.businesstimes.com.sg/property/least-2000-new-private-homes-come-stream-projects-set-q3-launch
US buyers to lead foreign demand in Singapore for third straight year
1H2024 saw just 64 residential property purchases by foreigners (non-permanent residents) in the Core Central Region (CCR). In 1Q2024, the number of foreign purchases of both new and resale non-landed homes was 21.
https://www.edgeprop.sg/property-news/us-buyers-lead-foreign-demand-singapore-third-straight-year
Business News
What’s behind CDL’s ‘first-of-its-kind’ $400 mil sustainability-linked loan?
City Developments (CDL) announced on June 25 that it has secured a $400 million sustainability-linked loan (SLL) from DBS Bank with nature conservation targets aligned with the Taskforce on Nature-related Financial Disclosures’ (TNFD) recommendations.
https://www.theedgesingapore.com/news/environmental-social-and-governance/whats-behind-cdls-first-its-kind-400-mil-sustainability
Frasers Hospitality eyes 20 openings over next four years
Frasers Hospitality is aiming to add 20 properties to its portfolio over the next four years as it continues to ride on the post-pandemic recovery trajectory.
https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-eyes-20-openings-over-next-four-years
https://www.straitstimes.com/business/frasers-hospitality-eyes-20-openings-over-next-four-years
Ho Bee Land prices S$160 million in green notes due 2029 at 4.35%
Ho Bee Land priced S$160 million in fixed-rate green notes due 2029 at 4.35 per cent, it said on Friday (Jul 5). The notes fall under the real estate group’s S$800 million multi-currency medium-term note programme.
https://www.businesstimes.com.sg/companies-markets/ho-bee-land-prices-s160-million-green-notes-due-2029-4-35
Views, Reviews, Forum and Others
15,000 Sentosa workers to undergo upskilling under new framework to lift tourism sector
Singapore – A framework launched on July 4 aims to train 15,000 workers across Sentosa in a range of skills in a bid to boost the local tourism sector. The new framework will focus on core areas, including customer experience, wellness and regenerative tourism, sustainability, data and artificial intelligence.
https://www.straitstimes.com/business/15000-workers-in-sentosa-to-go-through-upskilling-development-under-new-framework
1.5 million Singaporeans to get up to $850 in August to cope with rising costs
Singapore – About 1.5 million eligible adult Singaporeans will receive $450 or $850 in cash in August to help with their daily living expenses, the Ministry of Finance (MOF) said on July 4. Those living in homes with annual values of up to $21,000 will get $850.
https://www.straitstimes.com/singapore/15-million-singaporeans-to-get-up-to-850-in-august-to-cope-with-rising-costs
https://www.todayonline.com/news/15-million-singaporeans-receive-s850-gst-vouchers-august-2452826
https://www.channelnewsasia.com/singapore/gst-voucher-scheme-cash-payouts-medisave-topups-mof-4456606
Global Economy & Real Estate
Americans look past fuel cost, bad weather to set July Fourth travel record
https://www.businesstimes.com.sg/international/americans-look-past-fuel-cost-bad-weather-set-july-fourth-travel-record
China’s yuan, central bank performing well under stress, but US Fed rates adding to pressures
https://www.scmp.com/economy/china-economy/article/3269167/chinas-yuan-central-bank-performing-well-under-stress-us-fed-rates-adding-pressures?module=top_story&pgtype=subsection
China asks state companies to add 60 million barrels of oil to reserves
https://www.businesstimes.com.sg/international/china-asks-state-companies-add-60-million-barrels-oil-reserves
Eurozone household savings highest since 2021, but investments fall
https://www.businesstimes.com.sg/international/eurozone-household-savings-highest-2021-investments-fall
ECB accounts show worries about stalling disinflation
https://www.businesstimes.com.sg/international/ecb-accounts-show-worries-about-stalling-disinflation
Barclays to sell German consumer finance business
https://www.businesstimes.com.sg/international/barclays-sell-german-consumer-finance-business
German bank staff win 10.5% pay increase after strikes
https://www.businesstimes.com.sg/companies-markets/banking-finance/german-bank-staff-win-10-5-pay-increase-after-strikes
German factory orders unexpectedly slump as recovery falters
https://www.businesstimes.com.sg/international/german-factory-orders-unexpectedly-slump-recovery-falters
First batch of 376 Hong Kong land leases to be renewed beyond 2047 under new mechanism
https://www.scmp.com/news/hong-kong/society/article/3269233/first-batch-376-hong-kong-land-leases-be-renewed-beyond-2047-under-new-mechanism
Hong Kong will not sell commercial land this quarter due to high vacancies
https://www.businesstimes.com.sg/property/hong-kong-will-not-sell-commercial-land-quarter-due-high-vacancies
New World sells HK apartments at lowest price in eight years
https://www.businesstimes.com.sg/property/new-world-sells-hk-apartments-lowest-price-eight-years
https://www.scmp.com/business/article/3269188/new-world-far-east-slash-prices-pavilia-forest-i-flats-lowest-nearly-8-years
Hong Kong office tower seized from tycoon Chen Hongtian put up for new round of bidding
https://www.scmp.com/business/article/3269212/hong-kong-office-tower-seized-tycoon-chen-hongtian-put-new-round-bidding
Centurion JV leases 50 flats in Hong Kong property to create housing for workers
https://www.businesstimes.com.sg/companies-markets/centurion-jv-leases-50-flats-hong-kong-property-create-housing-workers
https://www.theedgesingapore.com/news/property/centurion-master-leases-property-hong-kongs-new-territories-workers-accommodation
Hong Kong’s San Tin Technopole needs more private flats to draw talent, developers say
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3269207/hong-kongs-san-tin-technopole-needs-more-private-flats-draw-talent-developers-say
Japan May household spending unexpectedly falls, clouds economic outlook
https://www.channelnewsasia.com/business/japan-may-household-spending-unexpectedly-falls-clouds-economic-outlook-4458531
Japan faces shortage of almost a million foreign workers in 2040, think tank says
https://www.businesstimes.com.sg/international/japan-faces-shortage-almost-million-foreign-workers-2040-think-tank-says
https://www.channelnewsasia.com/business/japan-faces-shortage-almost-million-foreign-workers-2040-think-tank-says-4456806
Bank of Korea says cost of living not a priority in their price stability mission
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-korea-says-cost-living-not-priority-their-price-stability-mission
https://www.channelnewsasia.com/business/bank-korea-says-cost-living-not-priority-their-price-stability-mission-4456781
New Zealand to boost home construction with regulatory changes
https://www.businesstimes.com.sg/property/new-zealand-boost-home-construction-regulatory-changes
Spain to crack down on holiday rentals to address housing crisis
https://www.businesstimes.com.sg/property/spain-crack-down-holiday-rentals-address-housing-crisis
Thai central bank sees no need to cut rates despite slow recovery
https://www.businesstimes.com.sg/international/thai-central-bank-sees-no-need-cut-rates-despite-slow-recovery
Toronto area home sales rise in June, halt four-month slide
https://www.businesstimes.com.sg/property/toronto-area-home-sales-rise-june-halt-four-month-slide
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