Singapore Real Estate / Built Environment
Media Circle serviced apartment site not awarded, S$461 psf sole bid too low: URA
For the third time this year, the government has thrown out a bid for a state land site that it assessed to be too low, and has held back from awarding the plot. The tender for the 60-year leasehold long-stay serviced apartment site in Media Circle was not awarded because the sole bid was too low, the Urban Redevelopment Authority (URA) said on Thursday (Oct 3).
https://www.businesstimes.com.sg/property/media-circle-serviced-apartment-site-not-awarded-s461-psf-sole-bid-too-low-ura
Will ESR-Logos Reit cash in on buying interest in short-lease hospitality assets?
Property investors seem to have become more receptive to buying Singapore hospitality and commercial properties on short-land-tenure sites over the past year. This provides an opportune exit for the owners of such properties.
https://www.businesstimes.com.sg/opinion-features/will-esr-logos-reit-cash-buying-interest-short-lease-hospitality-assets
To curb illegal structures in Singapore, hold professionals who build them accountable
Singapore – News that the authorities are investigating possible unauthorised rooftop structures at two private residential developments in Haig Avenue has shone a spotlight on those who undertake these illegal building works.
https://www.straitstimes.com/singapore/to-curb-unauthorised-building-structures-hold-the-professionals-who-build-them-accountable
Singapore Economy
Singapore to build second airport logistics park to boost cargo capacity
Singapore – Singapore will build a second airport logistics park from 2030 to increase the capacity of the existing park and boost Changi Airport’s role as a regional air cargo hub. The new Airport Logistics Park of Singapore will create new capacity to service more logistics companies, encouraging them to set up their regional distribution centres here, said Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on Oct 3.
https://www.straitstimes.com/business/s-pore-to-build-second-logistics-park-in-changi-to-boost-air-cargo-capacity-gan-kim-yong
https://www.channelnewsasia.com/singapore/second-airport-logistics-park-boost-cargo-capacity-changi-gan-kim-yong-4656306
Singapore SMEs to get more targeted help to go green
Singapore – Around 1,000 small and medium-sized companies (SMEs) here will get targeted, sector-specific help to go green in the next five years. They will also get to use an artificial intelligence (AI) tool that helps them assess their carbon emissions since many small firms do not have a dedicated sustainability officer to generate such reports for them.
https://www.straitstimes.com/business/companies-markets/too-afraid-too-busy-or-too-apathetic-s-pore-smes-to-get-more-targeted-help-to-go-green
https://www.zaobao.com.sg/news/singapore/story20241003-4923758
Views, Reviews, Forum and Others
Off the rails but still on the clock: MRT disruption underscores need for flexible work
For some commuters, the recent East-West Line train disruption served as a bumpy reminder that flexible work arrangements can sometimes be more of a necessity than a luxury. For six days – from the morning of Sep 25 until services resumed on Oct 1 – hundreds of thousands of commuters had to find alternative transportation.
https://www.businesstimes.com.sg/singapore/rails-still-clock-mrt-disruption-underscores-need-flexible-work
https://www.scmp.com/week-asia/politics/article/3280596/look-singapores-mrt-disruption-and-other-train-delays-asia
Tricked by fake reviews and false discounts? Meet the people who stop deceitful businesses
Singapore: As consumer disputes continue to make headlines, Singapore’s national consumer protection watchdog is stepping up enforcement and taking more proactive steps to stop retailers’ unfair tactics.
https://www.channelnewsasia.com/singapore/consumer-protection-commission-cccs-bolder-proactive-greenwashing-dark-patterns-4644706
Global Economy & Real Estate
WHO approves first mpox diagnostic test for emergency use
https://www.businesstimes.com.sg/international/who-approves-first-mpox-diagnostic-test-emergency-use
US retailers look to back-up shipping plans to prep for holidays as strike continues
https://www.businesstimes.com.sg/companies-markets/consumer-healthcare/us-retailers-look-back-shipping-plans-prep-holidays-strike-continues
https://www.channelnewsasia.com/business/us-retailers-look-back-up-shipping-plans-prep-holidays-strike-continues-4657681
US port workers and operators reach deal to end East Coast strike immediately
https://www.businesstimes.com.sg/international/us-port-workers-and-operators-reach-deal-end-east-coast-strike-immediately
https://www.straitstimes.com/business/companies-markets/us-port-workers-and-operators-reach-deal-to-end-east-coast-strike-immediately
US service sector activity accelerates to 1½-year high; employment declining
https://www.businesstimes.com.sg/international/us-service-sector-activity-accelerates-11-2-year-high-employment-declining
US planned layoffs dip in September, recruitment firm Challenger says
https://www.businesstimes.com.sg/international/us-planned-layoffs-dip-september-recruitment-firm-challenger-says
US office real estate market shows signs of bottoming after big discount sales
https://www.businesstimes.com.sg/property/us-office-real-estate-market-shows-signs-bottoming-after-big-discount-sales
Mortgage rates in US increase for first time in seven weeks
https://www.businesstimes.com.sg/property/mortgage-rates-us-increase-first-time-seven-weeks
Australia needs to cut spending if disinflation stalls: IMF
https://www.businesstimes.com.sg/international/australia-needs-cut-spending-if-disinflation-stalls-imf
Homeowners’ credit resilience ‘surprised’ Canada bank regulator
https://www.businesstimes.com.sg/property/homeowners-credit-resilience-surprised-canada-bank-regulator
China ready for US$1.4 trillion fiscal bazooka, top economist says
https://www.businesstimes.com.sg/international/china-ready-us1-4-trillion-fiscal-bazooka-top-economist-says
https://www.scmp.com/economy/policy/article/3280954/chinas-fiscal-package-needs-be-sizeable-be-effective-maintain-momentum-economist
Eurozone business activity contracted in September, PMI shows
https://www.businesstimes.com.sg/international/eurozone-business-activity-contracted-september-pmi-shows
Hong Kong property deals slump to 7-month low, but things are looking up for October
https://www.scmp.com/business/article/3280967/hong-kong-property-deals-slump-7-month-low-things-are-looking-october
Discounted rents help mainland Chinese retailers snag prime spots in Hong Kong
https://www.scmp.com/business/article/3280841/discounted-rents-help-chinese-retailers-snag-prime-spots-hong-kong
New Hong Kong mothers sign up to buy subsidised flats in revamped scheme to boost birth rate
https://www.scmp.com/news/hong-kong/society/article/3280955/new-hong-kong-mothers-sign-buy-subsidised-flats-revamped-scheme-boost-birth-rate
Hong Kong housing official urges elderly residents to report living situation ‘accurately’
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3280915/hong-kong-housing-chief-urges-elderly-residents-report-living-situation-accurately
Hong Kong sees challenges for retail sector as August sales fall 10%
https://www.businesstimes.com.sg/international/hong-kong-sees-challenges-retail-sector-august-sales-fall-10
https://www.channelnewsasia.com/business/hong-kong-sees-challenges-retail-sector-august-sales-fall-10-4656626
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3280945/hong-kongs-retail-sales-decline-sixth-straight-month-falling-10-august
Yen plunges as new prime minister and Bank of Japan dim rate hike hopes
https://www.straitstimes.com/business/companies-markets/yen-plunges-as-new-pm-bank-of-japan-dim-rate-hike-hopes
Malaysian minister says ‘no surprises’ in enforcing VEP on Singapore vehicles
https://www.businesstimes.com.sg/international/asean/malaysian-minister-says-no-surprises-enforcing-vep-singapore-vehicles
Mexico City restricts Airbnb rentals to curb ‘gentrification’
https://www.businesstimes.com.sg/property/mexico-city-restricts-airbnb-rentals-curb-gentrification
New Zealand business leaders urge action on deficit, capital gains tax
https://www.businesstimes.com.sg/international/new-zealand-business-leaders-urge-action-deficit-capital-gains-tax
Saudi billionaire’s firm resumes work on world’s tallest tower
https://www.businesstimes.com.sg/property/saudi-billionaires-firm-resumes-work-worlds-tallest-tower
Toronto home prices fall for second month as new listings surge
https://www.businesstimes.com.sg/property/toronto-home-prices-fall-second-month-new-listings-surge
UK services firms slow their price increases, PMI shows
https://www.businesstimes.com.sg/international/uk-services-firms-slow-their-price-increases-pmi-shows
UK jobs market tightens amid fears over taxes, worker right
https://www.businesstimes.com.sg/international/uk-jobs-market-tightens-amid-fears-over-taxes-worker-rights
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