Singapore Real Estate / Built Environment
Speech by Minister for Transport, Mr Chee Hong Tat, for Real Estate Developers’ Association of Singapore (REDAS) Mid-Autumn Lunch
Good afternoon and a very happy Mid-Autumn Festival to everyone. 祝大家中秋节快乐，阖家安康，生意兴隆！I am delighted to join you for today’s gathering, which has been a long held tradition for REDAS and its members. This festival also brings together many partners from the public and private sectors to celebrate the spirit of collaboration, and our shared vision of building a better future for Singapore.
https://www.mot.gov.sg/news/details/speech-by-minister-for-transport–mr-chee-hong-tat–for-real-estate-developers–association-of-singapore-(redas)-mid-autumn-lunch
https://www.instagram.com/hongtatchee/p/DAA8VcAyVuy/?img_index=1
LTA unveils new measures to streamline regulatory processes
News video at 16min 35sec
https://www.channelnewsasia.com/watch/singapore-tonight/tue-17-sep-2024-4613821
No approval needed for solar panel installations near Singapore airports from Oct 1
Singapore – Businesses and building owners will no longer be required to seek approval from the Civil Aviation Authority of Singapore (CAAS) for solar panel installations in areas near Singapore’s airports from Oct 1.
https://www.straitstimes.com/singapore/transport/from-oct-1-no-approval-needed-for-solar-panel-installations-near-s-pore-airports-chee-hong-tat
https://www.zaobao.com.sg/news/singapore/story20240917-4759089
Owners can obtain additional gross floor area by using district cooling system
The Urban Renewal Authority plans to expand the use of district cooling systems. From now on, property owners who adopt this system will be able to obtain additional gross floor area.
https://www.zaobao.com.sg/realtime/singapore/story20240918-4761504
REDAS president calls for more financial support to green developments
The Real Estate Developers’ Association of Singapore (REDAS) is urging regulators and financial institutions to provide developers with more support in greening Singapore’s urban landscape.
https://www.businesstimes.com.sg/property/redas-president-calls-more-financial-support-green-developments
Singapore home sales set for worst year since financial crisis
Singapore new-home sales are likely to fall this year to the lowest since the global financial crisis, according to property consultancies that cut their forecasts after yet another month of weak transactions.
https://www.businesstimes.com.sg/property/singapore-home-sales-set-worst-year-financial-crisis
https://www.straitstimes.com/singapore/housing/new-private-home-sales-sink-to-16-year-low-for-aug-but-interest-rate-cuts-could-lure-buyers
https://www.scmp.com/news/asia/southeast-asia/article/3278884/singapore-home-sales-lowest-2008-developers-and-buyers-locked-stand
Breaking Jurong Lake District into smaller sites could make it more palatable to developers
The failure of the tender for a 6.5 hectare (ha) white site in Jurong Lake District (JLD) to be awarded is a loss – not just for developers, but also for Singapore.
https://www.businesstimes.com.sg/opinion-features/breaking-jurong-lake-district-smaller-sites-could-make-it-more-palatable-developers
Singapore Economy
Public service must stay impartial as it renews relationship with new political leaders: SM Lee
Public servants must understand the political context in which the government functions to be effective, but cannot get embroiled in political debates, said Senior Minister Lee Hsien Loong on Tuesday (Sep 17).
https://www.businesstimes.com.sg/singapore/public-service-must-stay-impartial-it-renews-relationship-new-political-leaders-sm-lee1
https://www.straitstimes.com/singapore/public-service-must-stay-impartial-as-it-renews-relationship-with-new-political-leaders-sm-lee
https://www.channelnewsasia.com/singapore/lee-hsien-loong-public-service-government-general-elections-4612816
Job market worsens for retrenched workers, but Singapore’s overall labour market remains robust in Q2
Singapore’s job vacancies edged down in the second quarter of 2024, while fewer residents found re-employment within six months of retrenchment, based on the Ministry of Manpower’s (MOM) Labour Market Report on Tuesday (Sep 17).
https://www.businesstimes.com.sg/singapore/job-market-worsens-retrenched-workers-singapores-overall-labour-market-remains-robust-q2
https://www.zaobao.com.sg/news/singapore/story20240917-4756566
Business News
Sembcorp unit to acquire 30% interest in Senoko Energy
Sembcorp’s wholly owned subsidiary Sembcorp Utilities has signed a sale and purchase agreement with energy solutions provider Engie Global Developments to acquire a 30 per cent interest in energy supplier Senoko Energy.
https://www.businesstimes.com.sg/companies-markets/sembcorp-unit-acquire-30-interest-senoko-energy
https://www.theedgesingapore.com/news/deals-joint-ventures-alliances/sembcorps-subsidiary-acquire-30-interest-senoko-energy-funded
Temasek-backed carbon exchange appoints new CEO after 6-month search
Singapore – Climate Impact X (CIX), a Singapore-based carbon exchange, has appointed Ms Choo Oi-Yee to take its helm. This comes almost six months after it announced the resignation of its former chief executive officer Mikkel Larsen.
https://www.straitstimes.com/business/temasek-backed-carbon-exchange-appoints-new-ceo-after-6-month-search
Starhill Global REIT to refinance medium term notes issued by its Malaysian special purpose vehicle Ara Bintang
YTL Starhill Global REIT Management, the manager of Starhill Global Real Estate Investment Trust (Starhill Global REIT) has refinanced the five-year RM330 million ($100.1 million) third senior medium term notes that it previously issued.
https://www.theedgesingapore.com/news/property/starhill-global-reit-refinance-medium-term-notes-issued-its-malaysian-special-purpose
Global Economy & Real Estate
Will Fed get it right with size of first rate cut in 4 years?
https://www.straitstimes.com/business/will-fed-get-it-right-with-size-of-first-rate-cut-in-4-years
US business inventories rise slightly above expectations in July
https://www.businesstimes.com.sg/international/us-business-inventories-rise-slightly-above-expectations-july
US retail sales slow on cooldown in cars, petrol spending
https://www.businesstimes.com.sg/international/us-retail-sales-slow-cooldown-cars-petrol-spending
Rate-cut fever boosts investor sentiment in September, BofA survey shows
https://www.businesstimes.com.sg/companies-markets/banking-finance/rate-cut-fever-boosts-investor-sentiment-september-bofa-survey-shows
US home builder confidence edges up as rate cut looms
https://www.businesstimes.com.sg/property/us-home-builder-confidence-edges-rate-cut-looms
US industrial production data jumps sharply in August
https://www.businesstimes.com.sg/companies-markets/us-industrial-production-data-jumps-sharply-august
Australia central bank to focus on wholesale digital currency rather than retail
https://www.straitstimes.com/business/companies-markets/australia-central-bank-to-focus-on-wholesale-digital-currency-rather-than-retail
Trudeau loosens mortgage rules in bid to woo younger voters
https://www.businesstimes.com.sg/property/trudeau-loosens-mortgage-rules-bid-woo-younger-voters
Michael Jordan finally finds buyer for his Chicago mansion
https://www.businesstimes.com.sg/property/michael-jordan-finally-finds-buyer-his-chicago-mansion
Many Hong Kong small businesses are on the brink of collapse. Can they be saved?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3278918/many-hong-kong-small-businesses-are-brink-collapse-can-they-be-saved
Hong Kong leader warns US companies will suffer if trade offices shut
https://www.businesstimes.com.sg/international/hong-kong-leader-warns-us-companies-will-suffer-if-trade-offices-shut
Hong Kong considers rules for AI use in finance
https://www.businesstimes.com.sg/international/hong-kong-considers-rules-ai-use-finance
https://www.theedgesingapore.com/news/artificial-intelligence/hong-kong-considers-rules-ai-use-finance
Sun Hung Kai halts price war in Yuen Long project, betting rate cuts will lure homebuyers
https://www.scmp.com/business/article/3278914/sun-hung-kai-halts-price-war-yuen-long-project-betting-rate-cuts-will-lure-homebuyers
Japan exports rise 5.6% year-on-year in August
https://www.channelnewsasia.com/business/japan-exports-rise-56-year-year-august-4614656
https://www.businesstimes.com.sg/international/japans-exports-rise-slower-pace-pressuring-fragile-economic-recovery
Japan July machinery orders fall 0.1% m/m
https://www.channelnewsasia.com/business/japan-july-machinery-orders-fall-01-m-m-4614661
Malaysia reports new mpox case of less severe variant
https://www.businesstimes.com.sg/international/malaysia-reports-new-mpox-case-less-severe-variant
https://www.channelnewsasia.com/asia/malaysia-mpox-clade-2-variant-detected-locally-world-health-organisation-4612336
Thai economy to get ‘jolt’ from stimulus rollout this month, PM says
https://www.businesstimes.com.sg/international/thai-economy-get-jolt-stimulus-rollout-month-pm-says
UK to give Asian Development Bank guarantee to unlock climate finance
https://www.businesstimes.com.sg/international/uk-give-asian-development-bank-guarantee-unlock-climate-finance
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.