Singapore Real Estate/Built Environment
Singapore’s gravity-defying property prices hurt productivity, innovation and diversity
Singapore’s property market continues to defy gravity. Office rents climbed 3.1 per cent in the second quarter, according to data from the Urban Redevelopment Authority, even though the stock of office space rose. Industrial rents increased 1 per cent and retail rents remained unchanged.
https://www.businesstimes.com.sg/opinion-features/columns/singapores-gravity-defying-property-prices-hurt-productivity-innovation-and-diversity
Older HDB flats achieve record sales in H1; price growth outpaces younger flats
Resale flats which are at least 40 years old achieved a record 3,042 transactions in the first half of the year, surpassing the previous first-half record of 2,412 units in the year-ago period, data from the Housing and Development Board (HDB) showed.
https://www.businesstimes.com.sg/property/older-hdb-flats-achieve-record-sales-h1-price-growth-outpaces-younger-flats
Singapore Economy
Logistics, supply chain challenges and opportunities for Asean arising from geopolitical tensions: Chee Hong Tat
Escalating geopolitical tensions have bolstered manufacturing activity and exports in Asean, strengthening the case for enhancing port and airport infrastructure and connectivity in the region, said Minister for Transport Chee Hong Tat on Tuesday (Jul 30).
https://www.businesstimes.com.sg/international/asean/logistics-supply-chain-challenges-and-opportunities-asean-arising-geopolitical-tensions-chee-hong
Singapore has one of the world’s densest data centre capacities: Josephine Teo
Singapore – Singapore has one of the world’s densest data centre capacities, but there is still room for more growth as it sees artificial intelligence playing a prominent role in its economy, said Minister for Digital Development and Information Josephine Teo.
https://www.straitstimes.com/business/singapore-has-one-of-the-world-s-densest-data-centre-capacities-josephine-teo
Singapore looking for venues to house future contingency care facilities during public health crises
Singapore: The Singapore government is looking for venues that can house so-called contingency community facilities, as part of ongoing efforts to maintain the country’s “state of readiness” for future health threats or emergencies.
https://www.channelnewsasia.com/singapore/covid-19-contingency-community-care-facilities-pandemic-public-health-quarantine-treatment-expo-4513581
Business News
CapitaLand Ascendas Reit posts 2.5% drop in H1 DPU to 7.524 cents
Industrial property player CapitaLand Ascendas Reit (Clar) saw distribution per unit (DPU) fall 2.5 per cent for the half-year ended June to S$0.07524. This comes amid an enlarged unit base and higher finance costs.
https://www.businesstimes.com.sg/companies-markets/capitaland-ascendas-reit-posts-2-5-drop-h1-dpu-7-524-cents
https://www.theedgesingapore.com/capital/results/capitaland-ascendas-reit-reports-1hfy2024-dpu-7524-cents-25-lower-y-o-y
ESR-Logos Reit H1 DPU falls 18.6% to S$0.01122
ESR-Logos Real Estate Investment Trust (ESR-Logos Reit) posted an 18.6 per cent drop in distribution per unit (DPU) to S$0.01122 for the first half ended Jun 30, from S$0.01378 in the previous corresponding period.
https://www.businesstimes.com.sg/companies-markets/esr-logos-reit-h1-dpu-falls-18-6-s0-01122
Keppel Pacific Oak US Reit Q2 distributable income falls 8.8% to US$11.9 million; distributions remain suspended
Keppel Pacific Oak US Reit (Kore) reported distributable income of US$11.9 million for the second quarter ended Jun 30, down 8.8 per cent from US$13.1 million in Q2 FY2023, said its manager on Wednesday (Jul 31).
https://www.businesstimes.com.sg/companies-markets/keppel-pacific-oak-us-reit-q2-distributable-income-falls-8-8-us11-9-million-distributions-remain
Mapletree Pan Asia Commercial Trust posts 4.1% drop in Q1 DPU to S$0.0209
Mapletree Pan Asia Commercial Trust (MPACT) posted a distribution per unit (DPU) of S$0.0209 in the first quarter ended Jun 30, down 4.1 per cent from the same period a year ago.
https://www.businesstimes.com.sg/companies-markets/mapletree-pan-asia-commercial-trust-posts-4-1-drop-q1-dpu-s0-0209
https://www.theedgesingapore.com/capital/results/mpact-reports-1qfy2025-dpu-209-cents-41-lower-y-o-y
Maybank appoints Alice Tan as head of group wealth management
Maybank Singapore on Tuesday (Jul 30) said that it appointed Alice Tan as its head of group wealth management. She takes on the role on Aug 1. She will continue in her current role as the head of wealth management in Singapore, and report to both the group chief executive officer of community financial services and the CEO of Maybank Singapore.
https://www.businesstimes.com.sg/companies-markets/banking-finance/maybank-appoints-alice-tan-head-group-wealth-management
https://www.theedgesingapore.com/news/new-appointments/maybank-singapore-appoints-alice-tan-head-group-wealth-management
Pan-United H1 net profit up 34% to S$18.6 million
Pan-United Corporation posted a net profit of S$18.6 million in the first half of the year, 34 per cent more than S$13.9 million in the corresponding year-ago period. Revenue in H1 rose 7 per cent to S$384.7 million, 7 per cent higher than the S$360.2 million figure in the year before.
https://www.businesstimes.com.sg/companies-markets/pan-united-h1-net-profit-34-s18-6-million
Global Economy & Real Estate
Fed expected to hold rates and signal September cut
https://www.businesstimes.com.sg/international/fed-expected-hold-rates-and-signal-september-cut
What the Fed is doing to the US election, the climate and the economy
https://www.businesstimes.com.sg/opinion-features/what-fed-doing-us-election-climate-and-economy
US home prices unchanged in May; annual gain smallest in 10 months
https://www.businesstimes.com.sg/property/us-home-prices-unchanged-may-annual-gain-smallest-10-months
Almost 20% of Americans face prospect of higher energy bills
https://www.businesstimes.com.sg/international/almost-20-americans-face-prospect-higher-energy-bills
US consumer confidence rises in July; inflation expectations steady
https://www.businesstimes.com.sg/international/us-consumer-confidence-rises-july-inflation-expectations-steady
Miami office tower charging New York City rents lures midsize Brazil bank
https://www.businesstimes.com.sg/property/miami-office-tower-charging-new-york-city-rents-lures-midsize-brazil-bank
China vows to step up support for slowing economy, weak demand
https://www.businesstimes.com.sg/international/china-vows-step-support-slowing-economy-weak-demand
https://www.scmp.com/economy/global-economy/article/3272435/chinas-politburo-pledges-support-sending-stronger-expeced-signal-boost-economy?module=top_story&pgtype=subsection
China’s ‘new productive forces’ need government, market efforts
https://www.businesstimes.com.sg/international/chinas-new-productive-forces-need-government-market-efforts
Chinese leaders pledge to tilt stimulus towards consumers
https://www.channelnewsasia.com/east-asia/chinese-leaders-pledge-tilt-stimulus-towards-consumers-4513481
Liquidators struggle to recover cash from China’s broke builders
https://www.businesstimes.com.sg/international/global/liquidators-struggle-recover-cash-chinas-broke-builders
https://www.straitstimes.com/business/liquidators-struggle-to-recover-cash-from-china-s-broke-builders
Eurozone growth beats forecasts despite surprise German drop
https://www.businesstimes.com.sg/international/eurozone-growth-beats-forecasts-despite-surprise-german-drop
Europe property funds near reckoning as 12 billion euros gets pulled
https://www.businesstimes.com.sg/property/europe-property-funds-near-reckoning-12-billion-euros-gets-pulled
German economy unexpectedly shrinks in second quarter
https://www.businesstimes.com.sg/international/german-economy-unexpectedly-shrinks-second-quarter
Hang Lung Properties’ profit sinks 56% amid Hong Kong, mainland China slowdown
https://www.scmp.com/business/article/3272451/hang-lung-properties-profit-sinks-56-amid-hong-kong-mainland-china-slowdown
Why Hong Kong’s Gen Z and millennial workers want to quit their jobs
https://www.scmp.com/business/china-business/article/3272490/why-hong-kongs-gen-z-and-millennial-workers-want-quit-their-jobs
BOJ to debate rate hike timing as Fed opens door to cuts
https://www.channelnewsasia.com/business/boj-debate-rate-hike-timing-fed-opens-door-cuts-4513096
Japan June retail sales rise 3.7% year-on-year, better than forecasts
https://www.channelnewsasia.com/business/japan-june-retail-sales-rise-37-year-year-better-forecasts-4515631
Japan June factory output falls 3.6% m/m
https://www.channelnewsasia.com/business/japan-june-factory-output-falls-36-m-m-4515616
https://www.businesstimes.com.sg/international/japans-june-factory-output-falls-3-6-previous-month
Bidding frenzy for 2.3 billion won homes crashes South Korea auction site
https://www.businesstimes.com.sg/property/bidding-frenzy-2-3-billion-won-homes-crashes-south-korea-auction-site
https://www.straitstimes.com/business/south-koreans-crash-auction-site-bidding-for-discounted-luxury-apartments
Bank of Korea board split on rate cut timing amid hot housing market, minutes show
https://www.channelnewsasia.com/business/bank-korea-board-split-rate-cut-timing-amid-hot-housing-market-minutes-show-4513521
Thailand seeks to reverse brain drain with five-year tax breaks
https://www.businesstimes.com.sg/international/asean/thailand-seeks-reverse-brain-drain-five-year-tax-breaks
Thailand plays catch-up after a slow start in region’s chip race
https://www.businesstimes.com.sg/international/asean/thailand-plays-catch-after-slow-start-regions-chip-race
Condo rents in Toronto decrease for first time in three years
https://www.businesstimes.com.sg/property/condo-rents-toronto-decrease-first-time-three-years
UK government’s economic inheritance becomes a battle line
https://www.businesstimes.com.sg/opinion-features/uk-governments-economic-inheritance-becomes-battle-line
UK Labour government launches ‘urgent’ housebuilding plan
https://www.businesstimes.com.sg/property/uk-labour-government-launches-urgent-housebuilding-plan
UK housing market signalling revival as deals jump: report
https://www.businesstimes.com.sg/property/uk-housing-market-signalling-revival-deals-jump-report
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