Singapore Real Estate / Built Environment
GuocoLand-led group tops three bids for Faber Walk site with conservative S$900 psf ppr offer
A GuocoLand-led consortium placed the top bid for a private housing site for about 400 units in Faber Walk, beating two other groups at the government tender’s close on Tuesday (Nov 19).
https://www.businesstimes.com.sg/property/guocoland-led-group-tops-three-bids-faber-walk-site-conservative-s900-psf-ppr-offer
https://www.zaobao.com.sg/realtime/singapore/story20241119-5370155
The F&B sector’s woes could undermine the resilience of suburban malls
Many Singapore residents shop online and overseas, including across the Causeway in Johor Bahru, Malaysia. Still, Singapore malls, especially suburban malls, have been highly resilient.
https://www.businesstimes.com.sg/opinion-features/fb-sectors-woes-could-undermine-resilience-suburban-malls
Singapore Economy
S’pore and Sweden are small states that share commitment to fair, just world order: President Tharman
The commitment to a world order based on fair and just rules, which is shared by Singapore and Sweden as small states, matters more than ever amid deepening divides and global uncertainty. “Sweden has consistently punched above its weight in meeting the challenges of the global commons,” said President Tharman Shanmugaratnam on Nov 19.
https://www.straitstimes.com/singapore/politics/spore-and-sweden-are-small-states-that-share-commitment-to-fair-just-world-order-tharman
Commentary: Implications of Trump’s policies for Singapore’s economy
On Nov 10, a headline in the Wall Street Journal read “Rest of World’s Growth is at Trump’s Mercy”. This is especially true of Singapore, given many of its characteristics: An extremely open economy, massive current account surpluses, heavy reliance on the United States as a source of foreign direct investment (FDI) and as an export destination…
https://www.channelnewsasia.com/commentary/donald-trump-impact-singapore-economy-tariffs-trade-us-china-4755016
Business News
CLI to acquire initial 40% interest in SC Capital Partners for S$280 million
CapitaLand Investment (CLI) has agreed to buy an initial 40 per cent stake in Singapore-headquartered real estate investment manager, SC Capital Partners, for S$280 million. The deal is slated to close in the first quarter of 2025.
https://www.businesstimes.com.sg/companies-markets/cli-acquire-initial-40-interest-sc-capital-partners-s280-million
https://www.straitstimes.com/business/companies-markets/capitaland-investment-takes-initial-40-stake-in-sc-capital-partners-boosting-footprint-in-japan
Keppel DC Reit’s upsized private placement closes at S$2.09 apiece; equity fundraising totals S$1.1 billion
Keppel DC Real Estate Investment Trust (Reit) closed its private placement at S$2.09 apiece with 334.9 million new units issued, said the manager on Wednesday (Nov 20).
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reits-upsized-private-placement-closes-s2-09-apiece-equity-fundraising-totals-s1-1-billion
Keppel DC Reit to acquire 2 hyperscale data centres from sponsor Keppel for S$1.4 billion
The manager of Keppel DC Real Estate Investment Trust (Keppel DC Reit) has proposed to acquire interests in two artificial intelligence-ready hyperscale data centres from a joint venture (JV) led by sponsor Keppel for S$1.4 billion.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-acquire-2-hyperscale-data-centres-sponsor-keppel-s1-4-billion
Koh Brothers Eco unit wins S$77.6 million contract for upcoming Toa Payoh development
Catalist-listed engineering solutions provider Koh Brothers Eco Engineering : 5HV 0% was awarded a S$77.6 million contract by Sport Singapore (SportSG) through its wholly owned subsidiary, Koh Brothers Building & Civil Engineering Contractor (KBCE).
https://www.businesstimes.com.sg/companies-markets/koh-brothers-eco-unit-wins-s77-6-million-contract-upcoming-toa-payoh-development
DBS, OCBC, UOB, Maybank syndicating Singapore’s biggest loan of S$12 billion for Marina Bay Sands
Marina Bay Sands (MBS) is seeking a loan of around S$12 billion, in what would be the largest financing from Singapore, as the integrated resort looks to fund its planned expansion in the country.
https://www.businesstimes.com.sg/companies-markets/dbs-ocbc-uob-maybank-syndicating-singapores-biggest-loan-s12-billion-marina-bay-sands
https://www.straitstimes.com/business/companies-markets/marina-bay-sands-eyes-singapores-largest-loan-of-12-billion
WeWork gives up two Singapore prime locations in sign of co-working woes
WeWork is giving up space in two prime locations in Singapore, underscoring the company’s challenges in one of its most promising markets.
https://www.businesstimes.com.sg/companies-markets/wework-gives-two-singapore-prime-locations-sign-co-working-woes
https://www.straitstimes.com/business/property/wework-gives-up-two-prime-singapore-locations
https://www.zaobao.com.sg/realtime/singapore/story20241119-5370088
Global Economy & Real Estate
US housing starts slide 3.1% as hurricanes impact South region
https://www.businesstimes.com.sg/property/us-housing-starts-slide-3-1-hurricanes-impact-south-region
Rent inflation won’t ebb until mid-2026
https://www.businesstimes.com.sg/property/rent-inflation-wont-ebb-until-mid-2026
IMF warns Asia retaliatory tariffs could undermine growth
https://www.businesstimes.com.sg/international/imf-warns-asia-retaliatory-tariffs-could-undermine-growth1
https://www.channelnewsasia.com/business/imf-warns-asia-retaliatory-tariffs-could-undermine-growth-4756321
Beijing, Shanghai announce tax breaks to boost ailing property markets
https://www.businesstimes.com.sg/property/beijing-shanghai-announce-tax-breaks-boost-ailing-property-markets
Amid property crisis, China must shift from ‘availability’ to ‘quality’, premier urges
https://www.scmp.com/economy/china-economy/article/3287220/amid-property-crisis-china-must-shift-availability-quality-premier-urges
China’s stimulus lifts tax revenue for first time this year after policy shift
https://www.scmp.com/economy/china-economy/article/3287160/chinas-stimulus-lifts-tax-revenue-first-time-year-after-policy-shift
Dubai ruler’s firm eyeing two real estate listings in 2025: sources
https://www.businesstimes.com.sg/property/dubai-rulers-firm-eyeing-two-real-estate-listings-2025-sources
German wages rose by most in three decades in Q3
https://www.businesstimes.com.sg/international/german-wages-rose-most-three-decades-q3
Business uproar mounts as Indonesia pushes VAT hike amid sluggish demand
https://www.businesstimes.com.sg/international/asean/business-uproar-mounts-indonesia-pushes-vat-hike-amid-sluggish-demand
Indonesia considering another tax amnesty programme, lawmaker says
https://www.businesstimes.com.sg/international/indonesia-considering-another-tax-amnesty-programme-lawmaker-says1
Japan exports rise 3.1% year/year in Oct
https://www.channelnewsasia.com/business/japan-exports-rise-31-year-year-oct-4758431
Malaysia to expand QR code clearance to cars and lorries at Johor land checkpoints next year
https://www.channelnewsasia.com/asia/malaysia-johor-singapore-qr-code-ciq-immigration-clearance-border-cars-motorcycle-home-ministry-4756726
Thailand to start second stage of stimulus programme in January
https://www.businesstimes.com.sg/international/thailand-start-second-stage-stimulus-programme-january
Thai hotel group Minor plans to halve US$7 billion liabilities with Reit launch as tourism booms
https://www.businesstimes.com.sg/property/thai-hotel-group-minor-plans-halve-us7-billion-liabilities-reit-launch-tourism-booms
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