Singapore Real Estate / Built Environment
Singapore tourism receipts up 5.9% in Q2 on year, in line with arrivals
Singapore’s tourism receipts grew 5.9 per cent year on year (yoy) in the second quarter to S$6.8 billion, as international visitor arrivals jumped 14.8 per cent to 3.9 million, Singapore Tourism Board (STB) figures showed on Monday (Oct 21).
https://www.businesstimes.com.sg/singapore/singapore-tourism-receipts-5-9-q2-year-line-arrivals
Government agencies should step up communications on outlier property transactions
Many Singapore residents track the housing market here closely and have views on where the market is heading. This is unsurprising given the high homeownership rate among residents.
https://www.businesstimes.com.sg/opinion-features/government-agencies-should-step-communications-outlier-property-transactions
Overwhelming demand from singles for two-room flexi HDB flats in Oct BTO launch
Singapore – Two-room flexi flats are seeing overwhelming demand from first-time single home buyers in the ongoing October HDB Build-To-Order (BTO) sales exercise, with as many as 20 applicants per flat in some projects.
https://www.straitstimes.com/singapore/overwhelming-demand-from-singles-for-two-room-flexi-hdb-flats-in-oct-bto-launch
https://www.zaobao.com.sg/news/singapore/story20241021-5207059
HDB shophouses gaining ground among investors
Interest in Housing and Development Board (HDB) shophouses is on the rise, with buyers drawn to their relatively high yields, high-traffic locations and limited supply in the market for assets in public housing estates.
https://www.businesstimes.com.sg/companies-markets/hdb-shophouses-gaining-ground-among-investors
Business News
Keppel Reit’s nine-month distributable income falls 1.9% on higher borrowing costs
Keppel Real Estate Investment Trust (Reit) distributable income fell 1.9 per cent year-on-year to S$160.6 million for the first nine months of the fiscal year mainly due to higher borrowing costs, said the Reit manager on Tuesday (Oct 22).
https://www.businesstimes.com.sg/companies-markets/keppel-reits-nine-month-distributable-income-falls-1-9-higher-borrowing-costs
Keppel fund enters into JV to build data centre in Taiwan
Keppel’s private fund, Keppel Data Centre Fund II (KDCF II), has entered into a joint venture (JV) with digital infrastructure company Digital Decarbonization Solutions Platform (DDSP) to build an 80-megawatt (MW) greenfield data centre campus in northern Taiwan.
https://www.businesstimes.com.sg/international/global/keppel-fund-enters-jv-build-data-centre-taiwan
OCBC Investment Research initiates ‘buy’ on PropNex with TP of 91 cents
OCBC Investment Research analyst Donovan Tan has initiated coverage on PropNex with a “buy” call on Oct 21.
https://www.theedgesingapore.com/capital/brokers-calls/ocbc-investment-research-initiates-buy-propnex-tp-91-cents
Views, Reviews, Forum and Others
Shell oil leak: Govt agencies adopt measures after 30 tonnes of ‘slop’ leaked into sea
Singapore – More than 30 tonnes of “slop” – a mixture of oil and water – leaked into the sea between Bukom Island and Bukom Kecil early on Oct 20, said British petrochemical company Shell, as government agencies announced precautionary measures to detect and contain any slick.
https://www.straitstimes.com/singapore/shell-oil-leak-over-30-metric-tonnes-of-slop-leaked-into-sea-off-bukom-island
https://www.businesstimes.com.sg/singapore/shell-oil-leak-govt-agencies-take-precautionary-measures-after-over-30-tonnes-slop-leaked-sea
https://www.zaobao.com.sg/news/singapore/story20241021-5207059
NEA advises public against swimming near several beaches after Shell’s oil leak
Singapore – People should avoid swimming and other primary contact water activities near the beaches of East Coast Park, Kusu Island, St John’s Island and Lazarus Island, the National Environment Agency (NEA) said in an advisory on Oct 21.
https://www.straitstimes.com/singapore/no-sign-of-oil-at-sentosa-beaches-waters-near-desalination-plants-after-shell-s-oil-leak-agencies
Global Economy & Real Estate
Four Fed policymakers favour more rate cuts, but differ on pace
https://www.straitstimes.com/business/economy/four-fed-policymakers-favour-more-rate-cuts-but-differ-on-pace
US travellers cut holiday trips short on lasting inflation pain
https://www.businesstimes.com.sg/international/us-travellers-cut-holiday-trips-short-lasting-inflation-pain
Global impact | China’s economy saw its slowest growth in more than a year. Can it still hit its target?
https://www.scmp.com/economy/economic-indicators/article/3283157/chinas-economy-saw-its-slowest-growth-more-year-can-it-still-hit-its-target
German producer prices fall more than expected in September
https://www.businesstimes.com.sg/international/german-producer-prices-fall-more-expected-september
Hong Kong house sells for US$60 million as luxury market rebounds
https://www.businesstimes.com.sg/property/hong-kong-house-sells-us60-million-luxury-market-rebounds
Zombie companies may finally succumb to bankruptcy on Bank of Japan hikes
https://www.businesstimes.com.sg/international/global/zombie-companies-may-finally-succumb-bankruptcy-bank-japan-hikes
Malaysia’s GDP growth likely slowed to 5.3 per cent in Q3, easing from 18-month high
https://www.businesstimes.com.sg/international/asean/malaysias-gdp-growth-likely-slowed-5-3-cent-q3-easing-18-month-high
https://www.straitstimes.com/business/malaysia-s-economic-growth-beats-estimates-in-third-quarter
New Zealand posts smallest annual trade deficit in 30 months
https://www.businesstimes.com.sg/international/new-zealand-posts-smallest-annual-trade-deficit-30-months
Sand Castle mansion lists for US$108 million in San Diego record
https://www.businesstimes.com.sg/property/sand-castle-mansion-lists-us108-million-san-diego-record
South Korea economy likely returned to growth in Q3: Reuters poll
https://www.channelnewsasia.com/business/south-korea-economy-likely-returned-growth-q3-reuters-poll-4693456
South Korea’s early trade data show slowing export growth
https://www.businesstimes.com.sg/international/south-koreas-early-trade-data-show-slowing-export-growth
https://www.straitstimes.com/business/economy/early-trade-data-from-south-korea-global-trade-barometer-show-slowing-export-growth
The View | Why Seoul stands out among Asia’s top property markets
https://www.scmp.com/opinion/asia-opinion/article/3283167/why-seoul-stands-out-among-asias-top-property-markets
Taiwan’s September export orders miss expectations, China drags
https://www.businesstimes.com.sg/international/taiwans-september-export-orders-miss-expectations-china-drags
UK employment reforms to cost firms up to £4.5 billion a year
https://www.businesstimes.com.sg/international/uk-employment-reforms-cost-firms-ps4-5-billion-year
Vietnam premier pushes for higher 2025 growth targets
https://www.businesstimes.com.sg/international/asean/vietnam-premier-pushes-higher-2025-growth-targets
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