Singapore Real Estate/Built Environment
Cuscaden Peak, Kajima put Woodleigh Mall up for sale for about S$800 million
For the third time in the past 12 months, Cuscaden Peak Investments group (including Paragon Real Estate Investment Trust) has put on the market its stake in a Singapore retail asset.
https://www.businesstimes.com.sg/property/cuscaden-peak-kajima-put-woodleigh-mall-sale-about-s800-million
https://www.edgeprop.sg/property-news/cuscaden-peak-kajima-jv-put-woodleigh-mall-market-800-mil
About 50 resale listings removed from HDB Flat Portal for unrealistic pricing, misinformation
About 50 listings for resale Housing Board flats have been removed from the HDB Flat Portal for having unrealistic pricing or misleading information.
https://www.businesstimes.com.sg/property/about-50-resale-listings-removed-hdb-flat-portal-unrealistic-pricing-misinformation
Singapore Economy
Singapore Q2 growth beats expectations at 2.9%
Singapore’s economy grew 2.9 per cent year on year in the second quarter of 2024, comparable to the revised growth rate of 3 per cent in the previous quarter, going by advance estimates from the Ministry of Trade and Industry (MTI) on Friday (Jul 12).
https://www.businesstimes.com.sg/singapore/singapore-q2-growth-beats-expectations-2-9
https://www.straitstimes.com/business/economy/singapore-q2-growth-beats-expectations-at-29-as-manufacturing-recovers
https://www.channelnewsasia.com/singapore/gdp-singapore-economy-q2-second-quarter-2024-4472916
Singapore-Malaysia border economic zone a ‘potential game-changer’ but hurdles abound: investors
The planned Johor-Singapore Special Economic Zone (JS-SEZ) is more likely to succeed than previous joint ventures between the city state and Malaysia due to stronger bilateral government support and a desire by businesses to “internationalise” closer to home, proponents of the project say.
https://www.scmp.com/week-asia/economics/article/3270131/singapore-malaysia-border-economic-zone-potential-game-changer-hurdles-abound-investors
Singapore wins more investments from major chipmakers as they seek to de-risk supply chains
Singapore – Singapore continues to assert its status as a global semiconductor production hub, with more chipmakers and related businesses moving in to set up new plants. The total amount of investment flows may vary from one year to the next, but the trend is clear.
https://www.straitstimes.com/business/singapore-wins-more-investments-from-major-chipmakers-as-they-seek-to-de-risk-supply-chains
Business News
Ho Bee Land issues inaugural green bond of $160 mil
Ho Bee Land has issued its inaugural green bond, a $160 million five-year fixed-rate unsecured green bond issued off the company’s $800 million multi-currency medium-term note programme.
https://www.theedgesingapore.com/news/company-news/ho-bee-land-issues-inaugural-green-bond-160-mil
Mapletree Logistics Trust manager expects lower rates to persist among renewed leases in China in coming
Mapletree Logistics Trust (MLT) expects negative rental reversions in China to persist over the next few quarters, with expiring rental rates being marked to market, said its manager on Thursday (Jul 11).
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-manager-expects-lower-rates-persist-among-renewed-leases-china-coming
https://www.straitstimes.com/business/mapletree-logistics-trust-sees-lower-rates-for-renewed-china-leases-to-persist-in-coming-quarters
Raffles Family Office hires Terence Chow as group chief operating officer
Raffles Family Office has named Terence Chow, formerly a wealth management chief executive at the Royal Bank of Canada (RBC), as its group chief operating officer (COO).
https://www.businesstimes.com.sg/companies-markets/raffles-family-office-hires-terence-chow-group-chief-operating-officer
Global Economy & Real Estate
Covid still kills 1,700 a week: WHO
https://www.businesstimes.com.sg/international/covid-still-kills-1700-week-who
US consumer prices unexpectedly fall in June
https://www.businesstimes.com.sg/international/us-consumer-prices-unexpectedly-fall-june
https://www.straitstimes.com/business/economy/us-consumer-inflation-eases-more-than-expected-in-june
https://www.channelnewsasia.com/business/us-consumer-inflation-eases-more-expected-june-4473071
US weekly jobless claims fall more than expected
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-fall-more-expected1
US inflation data to bolster case for Fed interest-rate cut in September
https://www.businesstimes.com.sg/international/us-inflation-data-bolster-casefed-interest-rate-cut-september
US mortgage rates decrease as Fed rate-cut expectations mount
https://www.businesstimes.com.sg/property/us-mortgage-rates-decrease-fed-rate-cut-expectations-mount
Chinese lose confidence in meritocracy as path to greater wealth
https://www.businesstimes.com.sg/international/chinese-lose-confidence-meritocracy-path-greater-wealth
China’s plan to save the economy comes at a cost to factories
https://www.businesstimes.com.sg/international/chinas-plan-save-economy-comes-cost-factories
China’s growth likely slowed ahead of key economic meeting
https://www.businesstimes.com.sg/international/chinas-growth-likely-slowed-ahead-key-economic-meeting
Hong Kong wealth gap narrows over past 15 years, but rival Singapore sees 23% increase
https://www.scmp.com/news/hong-kong/society/article/3270127/hong-kong-wealth-gap-narrows-over-past-15-years-rival-singapore-sees-23-cent-increase
Large distressed Hong Kong realty deals set to rise as more sellers accept losses
https://www.businesstimes.com.sg/property/large-distressed-hong-kong-realty-deals-set-rise-more-sellers-accept-losses
https://www.channelnewsasia.com/business/large-distressed-hong-kong-realty-deals-set-rise-more-sellers-accept-losses-4472691
Japan’s key capex gauge falls again, clouds outlook for durable growth
https://www.businesstimes.com.sg/international/japans-key-capex-gauge-falls-again-clouds-outlook-durable-growth
Bank of Korea to weigh timing of rate cut with receding inflation
https://www.channelnewsasia.com/business/bank-korea-weighs-rate-cut-timing-it-delivers-dovish-hold-4471556
Manhattan renter bidding wars hit record high in heated market
https://www.businesstimes.com.sg/property/manhattan-renter-bidding-wars-hit-record-high-heated-market
Thai consumer confidence hits nine-month low in June on economic, political concerns
https://www.businesstimes.com.sg/international/asean/thai-consumer-confidence-hits-nine-month-low-june-economic-political-concerns
https://www.channelnewsasia.com/business/thai-consumer-confidence-hits-9-mth-low-june-economic-political-concerns-4472061
UK budget hole of up to £30 billion may threaten Reeves plans
https://www.businesstimes.com.sg/international/uk-budget-hole-ps30-billion-may-threaten-reeves-plans
UK economy grew by more than expected in May, helped by house-building
https://www.businesstimes.com.sg/international/uk-economy-grew-more-expected-may-helped-house-building
UK property surveyors expect rise in home sales after election
https://www.businesstimes.com.sg/property/uk-property-surveyors-expect-rise-home-sales-after-election
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