Singapore Real Estate / Built Environment
Six projects with 3,500 new homes to hit market in November as developers rush out launches
A slew of new condominium projects are slated to be launched in the next few weeks, with developers pushing out projects to catch the wave of rising sentiment ahead of the year-end holiday season.
https://www.businesstimes.com.sg/property/six-projects-3500-new-homes-hit-market-november-developers-rush-out-launches
https://www.zaobao.com.sg/realtime/singapore/story20241030-5275156
Singapore shopping malls explore newer concepts to attract more patrons
Singapore: Creating new looks based on viral Korean hair colour analysis, nail services catering to Muslim customers, and shops dedicated to selling Chinese tidbits. These are the types of newer concepts as well as entertainment and wellness outlets that are bringing in the crowds to shopping malls, operators said.
https://www.channelnewsasia.com/singapore/singapore-shopping-malls-new-concepts-community-capitaland-frasers-4715011
Tanjong Katong Complex sale: Former tenants miss mall; entrepreneurs look forward to new dedicated space
Mr Abu Bakar Abdullah Bagarib’s traditional Malay clothing business first took off at Tanjong Katong Complex more than 20 years ago, with the tills ringing most frequently in the lead-up to the Hari Raya festivities.
https://www.channelnewsasia.com/singapore/tanjong-katong-complex-sale-former-tenants-potential-new-startups-4712276
Singapore Economy
The government has already accounted for 60% of the annual budget and is on a good track. The government’s revenue in the first half of the fiscal year reached $65.2 billion.
Singapore’s economic growth has been good this year, with the government’s operating revenue reaching $65.2 billion in the first half of the fiscal year, accounting for 60% of the annual budget.
https://www.zaobao.com.sg/news/singapore/story20241031-5274553
Singapore and UAE: Complementary hubs for business leaders with global ambitions
Both countries provide a gateway to regions that are growing at higher-than-average rates, thanks to the redirection of global trade and capital flows.
https://www.businesstimes.com.sg/opinion-features/singapore-and-uae-complementary-hubs-business-leaders-global-ambitions
Singapore sets up global fintech network, appoints former MAS chief Ravi Menon as chairman
The Monetary Authority of Singapore (MAS) has set up a global network to strengthen Singapore’s position as a fintech hub and improve connections with other countries. The Global Finance and Technology Network (GFTN) will support the central bank’s efforts to develop and grow Singapore’s fintech ecosystem, MAS said on Wednesday (Oct 30).
https://www.channelnewsasia.com/singapore/mas-global-fintech-network-chairman-ravi-menon-4711791
https://www.businesstimes.com.sg/singapore/mas-sets-finance-and-technology-network-be-chaired-ravi-menon
https://www.straitstimes.com/business/mas-sets-up-new-not-for-profit-firm-as-it-seeks-to-extend-reach-to-global-fintech-sector
Business News
ESR-Logos Reit Q3 net property income declines 6.5% to S$192.7 million amid divestments
ESR-Logos Real Estate Investment Trust (Reit) reported a 6.5 per cent decline in net property income (NPI) in the third quarter to S$192.7 million, from S$206.1 million in the year-ago period, its manager said on Wednesday (Oct 30).
https://www.businesstimes.com.sg/companies-markets/esr-logos-reit-q3-net-property-income-declines-6-5-s192-7-million-amid-divestments
Keppel’s private-credit fund raises US$300 million in first close
Keppel’s third private-credit fund raised around US$300 million of committed capital in its first close, the global asset manager and operator announced on Wednesday (Oct 30).
https://www.businesstimes.com.sg/companies-markets/keppels-private-credit-fund-raises-us300-million-first-close
https://www.zaobao.com.sg/realtime/singapore/story20241030-5273309
Global Economy & Real Estate
Fed seen cutting rates by quarter percentage point in November, December after inflation data
https://www.straitstimes.com/business/economy/fed-seen-cutting-rates-by-quarter-percentage-point-in-november-december-after-inflation-data
Key US inflation gauge and spending pick up in solid economy
https://www.businesstimes.com.sg/international/key-us-inflation-gauge-and-spending-pick-solid-economy
https://www.straitstimes.com/business/economy/us-economy-posts-solid-growth-on-election-eve
US planned layoffs drop again in October, recruitment firm Challenger says
https://www.businesstimes.com.sg/international/us-planned-layoffs-drop-again-october-recruitment-firm-challenger-says
US mortgage rates increase to 6.73%, highest since late July
https://www.businesstimes.com.sg/property/us-mortgage-rates-increase-6-73-highest-late-july
US pending home sales jump the most in more than four years
https://www.businesstimes.com.sg/property/us-pending-home-sales-jump-most-more-four-years
For sale: Hundreds of abandoned churches; great prices, need work
https://www.businesstimes.com.sg/property/sale-hundreds-abandoned-churches-great-prices-need-work
Australia’s Q3 inflation slows to 3-1/2 year low, core remains sticky
https://www.businesstimes.com.sg/international/australias-q3-inflation-slows-3-12-year-low-core-remains-sticky
Canada’s economy stalls in August; central bank’s Q3 growth forecast in doubt
https://www.businesstimes.com.sg/international/canadas-economy-stalls-august-central-banks-q3-growth-forecast-doubt
Canada faces worsening home ownership crisis with stalled condo sales
https://www.businesstimes.com.sg/property/canada-faces-worsening-home-ownership-crisis-stalled-condo-sales
China factory output expands for first time in six months
https://www.businesstimes.com.sg/international/china-factory-output-expands-first-time-six-months
https://www.straitstimes.com/business/economy/chinese-factory-activity-unexpectedly-expands-in-first-sign-of-upturn-after-stimulus-blitz
https://www.scmp.com/economy/economic-indicators/article/3284542/chinas-factory-activity-returns-growth-ends-5-months-contraction
China home sales slump eases as stimulus boosts buyer morale
https://www.businesstimes.com.sg/property/china-home-sales-slump-eases-stimulus-boosts-buyer-morale
Vanke reports 8.1 billion yuan loss in third quarter amid China housing slowdown
https://www.businesstimes.com.sg/property/vanke-reports-8-1-billion-yuan-loss-third-quarter-amid-china-housing-slowdown
https://www.straitstimes.com/business/vanke-posts-1-5-billion-loss-in-third-quarter-as-chinas-property-crisis-drags-on
Eurozone inflation picks up, bolstering case for caution in rate cuts
https://www.businesstimes.com.sg/international/eurozone-inflation-picks-bolstering-case-caution-rate-cuts
German economy unexpectedly grows, dodging recession; inflation up
https://www.businesstimes.com.sg/international/german-economy-unexpectedly-grows-dodging-recession-inflation
Hong Kong economic growth misses forecast in third quarter: data
https://www.businesstimes.com.sg/international/hong-kong-economic-growth-misses-forecast-third-quarter-data
https://www.channelnewsasia.com/business/hong-kong-q3-gdp-expands-18-y-y-slower-forecast-4715216
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3284624/hong-kong-economy-grows-18-third-quarter-recent-strength-peters-out
Hong Kong sees fresh record home-buying by mainland Chinese, realtor says
https://www.businesstimes.com.sg/property/hong-kong-sees-fresh-record-home-buying-mainland-chinese-realtor-says
Hong Kong’s underwater mortgages hit 22-year high on weak market
https://www.businesstimes.com.sg/companies-markets/hong-kongs-underwater-mortgages-hit-22-year-high-weak-market
https://www.scmp.com/business/article/3284636/hong-kongs-third-quarter-negative-equity-cases-jump-34-21-year-high-40713-cases
Hong Kong’s failed land tender reflects weak outlook, derails urban renewal efforts
https://www.scmp.com/business/article/3284516/hong-kongs-failed-land-tender-reflects-weak-outlook-derails-urban-renewal-efforts
Hong Kong urged to shorten 21-year redevelopment plan of Instagram-famous Choi Hung Estate
https://www.scmp.com/news/hong-kong/society/article/3284589/hong-kong-urged-shorten-21-year-redevelopment-plan-instagram-famous-choi-hung-estate
Hongkongers to be offered HK$3,000 for information on tenants abusing public flat scheme
https://www.scmp.com/news/hong-kong/society/article/3284627/hongkongers-be-offered-hk3000-information-tenants-abusing-public-flat-scheme
Tourism has rebounded worldwide. But not in Hong Kong
https://cnaluxury.channelnewsasia.com/experiences/hong-kong-tourism-rebound-pandemic-249396
Italy’s finance minister defends tax hike on cryptocurrencies amid party spat
https://www.channelnewsasia.com/business/italys-finance-minister-defends-tax-hike-cryptocurrencies-amid-party-spat-4715806
BOJ keeps rates steady, says overseas risks receding
https://www.businesstimes.com.sg/international/boj-keeps-rates-steady-says-overseas-risks-receding
https://www.channelnewsasia.com/business/boj-keeps-rates-steady-puts-focus-global-risks-4714121
Japan September factory output rises more than expected
https://www.channelnewsasia.com/business/japan-september-factory-output-rises-more-expected-4714451
South Korea Sept factory output unexpectedly falls on weaker chip production
https://www.channelnewsasia.com/business/south-korea-sept-factory-output-unexpectedly-falls-weaker-chip-production-4714376
South Korea’s October export growth slows to seven-month low
https://www.businesstimes.com.sg/international/south-koreas-october-export-growth-slows-seven-month-low
Taiwan’s economy expands more than expected in third quarter
https://www.businesstimes.com.sg/international/taiwans-economy-expands-more-expected-third-quarter
Thailand keeps inflation target for next year with caveats
https://www.businesstimes.com.sg/international/asean/thailand-keeps-inflation-target-next-year-caveats
https://www.channelnewsasia.com/business/thai-finance-minister-says-wants-beat-govt-forecast-3-growth-2025-4714706
UK’s tax-and-spend Budget gives businesses cause for concern
https://www.businesstimes.com.sg/international/uks-tax-and-spend-budget-gives-businesses-cause-concern
Labour taxes risk extending UK wage stagnation, analysis shows
https://www.businesstimes.com.sg/international/labour-taxes-risk-extending-uk-wage-stagnation-analysis-shows
Britain’s gilt yields spike after UK budget, reversing earlier fall
https://www.businesstimes.com.sg/international/britains-gilt-yields-spike-after-uk-budget-reversing-earlier-fall
Shock landlord tax hike is latest blow for UK’s high-end housing
https://www.businesstimes.com.sg/property/shock-landlord-tax-hike-latest-blow-uks-high-end-housing
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.