Singapore Real Estate / Built Environment
URA to review land-use policies and guidelines amid ‘changing economic landscape’
The Urban Redevelopment Authority (URA) will review its land-use policies and guidelines, and engage businesses for a clearer picture of their needs and operating considerations in today’s changing economic landscape.
https://www.businesstimes.com.sg/property/ura-review-land-use-policies-and-guidelines-amid-changing-economic-landscape
https://www.straitstimes.com/singapore/town-centres-in-tampines-bishan-could-be-redeveloped-under-new-plans-by-ura
URA’s office rental index for central region dips 0.5% qoq in Q3 2024
Office rents in Singapore’s central region fell 0.5 per cent in the third quarter of 2024 over the preceding quarter, contrasting with the 3.1 per cent quarter-on-quarter increase in Q2 2024.
https://www.businesstimes.com.sg/property/flash-uras-office-rental-index-central-region-dips-0-5-qoq-q3-2024
Prices, rents for industrial spaces rise slightly in Q3: JTC
Prices and rental rates for industrial properties in Singapore increased marginally in the third quarter of 2024 as compared with the quarter before, according to JTC’s latest data released on Thursday (Oct 24).
https://www.businesstimes.com.sg/property/prices-rents-industrial-spaces-rise-slightly-q3-jtc
Sim Lian sets new high for EC land with S$768 psf ppr top bid for Tampines site
An executive condominium (EC) site in Tampines Street 95 drew strong participation from developers, with the top bidder Sim Lian setting a new record for EC land with its offer of S$768 per square foot per plot ratio (psf ppr).
https://www.businesstimes.com.sg/property/sim-lian-sets-new-high-ec-land-s768-psf-ppr-top-bid-tampines-site
https://www.zaobao.com.sg/realtime/singapore/story20241024-5240330
MCL-Sinar Mas Land JV to launch Nava Grove condo at prices starting from S$1.39 million
MCL Land and Sinar Mas Land will start previews for their new Pine Grove project, Nava Grove, on Nov 2, with prices starting at S$1.39 million – or S$2,224 per square foot (psf) – for two-bedders sized about 624 square feet (sq ft).
https://www.businesstimes.com.sg/property/mcl-sinar-mas-land-jv-launch-nava-grove-condo-prices-starting-s1-39-million
AEW sells Admirax in Woodlands for about S$155 million to family office
There seems to be more buzz for big-ticket industrial properties in Singapore, with sentiment buoyed by the US Federal Reserve’s 50-basis-point interest rate cut in September, with signals of more to come.
https://www.businesstimes.com.sg/property/aew-sells-admirax-woodlands-about-s155-million-family-office
Business News
CapitaLand India Trust Q3 net property income up 15% at 3.3 billion rupees
Has reported a net property income of 3.3 billion rupees (S$53 million) for the third quarter ended Sep 30, 15 per cent higher than the 2.9 billion rupees in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/capitaland-india-trust-q3-net-property-income-15-3-3-billion-rupees
https://www.zaobao.com.sg/realtime/singapore/story20241024-5240433
Frasers Centrepoint Trust’s H2 DPU remains at S$0.0602
Frasers Centrepoint Trust (FCT) distribution per unit (DPU) for the second half ended September 2024 came in at S$0.0602, unchanged from a year prior.
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trusts-h2-dpu-remains-s0-0602
https://www.zaobao.com.sg/realtime/singapore/story20241025-5242923
Keppel aims to more than double data centre funds under management to $19b amid AI boom
Keppel plans to more than double its data centre funds under management (FUM) and expand its capacity, as it tries to tap into the artificial intelligence (AI) frenzy that is driving investment into digital infrastructure.
https://www.straitstimes.com/business/companies-markets/keppel-aims-to-more-than-double-data-centre-funds-under-management-to-19b-on-rising-ai-demand
https://www.businesstimes.com.sg/companies-markets/keppels-moat-gives-it-edge-data-centre-business-ceo
https://www.channelnewsasia.com/business/singapores-keppel-aims-expand-data-centre-capacity-fum-amid-ai-boom-4698766
Lift maker Kone shifts focus as China property slump persists
Kone sees no end to China’s construction slump and so will focus on modernising and servicing existing lifts, the Finnish company said as it reported third-quarter profit below expectations.
https://www.businesstimes.com.sg/property/lift-maker-kone-shifts-focus-china-property-slump-persists
MPACT’s Q2 DPU declines 11.6% to S$0.0198 amid mixed overseas sentiments
Mapletree Pan Asia Commercial Trust’s (MPACT) distribution per unit (DPU) fell 11.6 per cent to 1.98 Singapore cents for its second quarter ended Sep 30, from 2.24 cents the year before.
https://www.businesstimes.com.sg/companies-markets/mpacts-q2-dpu-declines-11-6-s0-0198-amid-mixed-overseas-sentiments
https://www.zaobao.com.sg/realtime/singapore/story20241024-5241347
MBS’ expansion will now cost US$8 billion; completion pushed back to 2030
Singapore: The expansion of Marina Bay Sands (MBS), which will see the integrated resort add a fourth tower, is now expected to cost US$8 billion (S$10.6 billion), its parent company Las Vegas Sands said on Wednesday (Oct 23).
https://www.channelnewsasia.com/singapore/marina-bay-sands-mbs-expansion-will-now-cost-us8-billion-completion-pushed-back-2030-4699586
https://www.straitstimes.com/business/companies-markets/las-vegas-sands-flags-10-6-billion-investment-to-develop-fourth-tower-at-marina-bay-sands
Suntec Reit Q3 DPU down 11.9% at S$0.0158
Suntec Reit’s distribution per unit (DPU) for the third quarter ended September fell by 11.9 per cent to S$0.0158, from S$0.01793 in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/suntec-reit-q3-dpu-down-11-9-s0-0158
https://www.zaobao.com.sg/realtime/singapore/story20241024-5240984
Global Economy & Real Estate
US business activity rises in October; price pressures easing
https://www.businesstimes.com.sg/international/us-business-activity-rises-october-price-pressures-easing
US new-home sales rise to more than one-year high on lower rates
https://www.businesstimes.com.sg/property/us-new-home-sales-rise-more-one-year-high-lower-rates
China property developer Jiayuan to be delisted on Oct 29
https://www.businesstimes.com.sg/property/china-property-developer-jiayuan-be-delisted-oct-29
Former Hong Kong leader CY Leung cautions on housing oversupply
https://www.scmp.com/business/article/3283720/former-hong-kong-leader-cy-leung-cautions-housing-oversupply
Eurozone private-sector economy fails to grow for second month
https://www.businesstimes.com.sg/international/eurozone-private-sector-economy-fails-grow-second-month
IMF calls on Bank of Japan to hike interest rates at ‘gradual’ pace
https://www.businesstimes.com.sg/international/imf-calls-bank-japan-hike-interest-rates-gradual-pace
https://www.channelnewsasia.com/business/imf-calls-bank-japan-hike-interest-rates-gradual-pace-4700396
Core consumer prices in Japan’s capital rise 1.8% in Oct
https://www.channelnewsasia.com/business/core-consumer-prices-japans-capital-rise-18-oct-4701461
https://www.businesstimes.com.sg/international/core-consumer-prices-japans-capital-rise-1-8-october
Japan’s factory activity dips for 4th straight month: PMI
https://www.businesstimes.com.sg/international/japans-factory-activity-dips-4th-straight-month-pmi
South Korea Finance Minister sees downside risk to GDP forecast of 2.6%, Yonhap reports
https://www.channelnewsasia.com/business/south-korea-finance-minister-sees-downside-risk-gdp-forecast-26-yonhap-reports-4701426
UK companies in S’pore hire more locals after EP changes, but dial back investments in dim climate: Poll
https://www.straitstimes.com/business/british-companies-here-hire-more-locals-following-ep-changes-but-dial-back-investments-in-dim
UK business growth at 11-month low ahead of Budget
https://www.businesstimes.com.sg/international/uk-business-growth-11-month-low-ahead-budget
UK business sentiment weakest in two years before budget: CBI
https://www.businesstimes.com.sg/international/uk-business-sentiment-weakest-two-years-budget-cbi
UK finance minister Reeves to change fiscal rules in budget
https://www.businesstimes.com.sg/international/uk-finance-minister-reeves-change-fiscal-rules-budget
Reports of bullying, discrimination surge in British financial services
https://www.businesstimes.com.sg/international/reports-bullying-discrimination-surge-british-financial-services
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