Singapore Real Estate / Built Environment
Thomson View sold for S$810 million to UOL, CapitaLand
Thomson View has been sold for S$810 million to UOL, Singapore Land (SingLand) and CapitaLand Development (CLD), after the condominium’s owners on Friday (Nov 22) green-lit a deal for an en-bloc sale.
https://www.businesstimes.com.sg/property/thomson-view-sold-s810-million-uol-capitaland
https://www.zaobao.com.sg/realtime/singapore/story20241125-5396448
Condo resale prices fall for the first time in 10 months; volumes rise 8.1% in October
Resale prices of private condominiums dropped for the first time this year, as prices slipped in the city fringe area. Flash estimates from SRX and 99.co on Monday (Nov 25) showed that overall condo resale prices in October dipped 0.5 per cent month on month.
https://www.businesstimes.com.sg/property/condo-resale-prices-fall-first-time-10-months-volumes-rise-8-1-october-srx-99-co
https://www.straitstimes.com/singapore/housing/condo-resale-prices-fall-for-the-first-time-in-10-months-volumes-rise-8-1-in-october-srx-99-co
Taking Singapore’s commercial heart beyond the CBD – a mixed picture
From Tampines in the east to Jurong in the west, several “decentralised” commercial spaces across Singapore have sprung up over the years as part of government efforts to expand the city’s business ecosystem with job nodes across the island.
https://www.businesstimes.com.sg/property/taking-singapores-commercial-heart-beyond-cbd-mixed-picture
https://www.businesstimes.com.sg/property/developing-decentralised-office-market-what-does-it-entail
Give buyers an additional choice of new 50-year leasehold homes
To save costs amid rising cost of living and help protect the environment, one should buy only what one needs and reduce waste. Think of not over-ordering food when dining out, and refraining from buying clothes which may hardly be worn.
https://www.businesstimes.com.sg/opinion-features/give-buyers-additional-choice-new-50-year-leasehold-homes
Singapore Economy
Singapore remains confident in China’s future, deeper collaboration despite challenges: SM Lee
Singapore remains confident in China’s future despite its recent challenges, said Senior Minister Lee Hsien Loong, adding that it would be “short-sighted and unwise to write off” the world’s second-largest economy.
https://www.businesstimes.com.sg/international/global/singapore-remains-confident-chinas-future-deeper-collaboration-despite-challenges-sm-lee
https://www.channelnewsasia.com/east-asia/lee-hsien-loong-singapore-confidence-china-future-economic-potential-4768526
Economists trim inflation forecasts after Singapore’s October core, headline inflation reach lowest since 2021
Several private-sector economists have cut their Singapore 2024 and 2025 inflation forecasts, after October’s readings decelerated more than expected to their lowest prints since 2021.
https://www.businesstimes.com.sg/singapore/economists-trim-inflation-forecasts-after-singapores-october-core-headline-inflation-reach-lowest
https://www.straitstimes.com/business/singapore-core-inflation-drops-to-2-1-in-october-lowest-in-almost-three-years
https://www.channelnewsasia.com/singapore/core-inflation-singapore-october-lowest-december-2021-4768591
https://www.zaobao.com.sg/realtime/singapore/story20241125-5396383
Business News
CLI to rebalance portfolio, grow India and South-east Asia businesses
CapitaLand Investment (CLI) will rebalance its portfolio to grow its India and South-east Asia business and optimise its China holdings, as it seeks further “geographical diversification” for growth.
https://www.businesstimes.com.sg/companies-markets/cli-rebalance-portfolio-grow-india-and-south-east-asia-businesses
https://www.straitstimes.com/business/companies-markets/capitaland-investment-to-rebalance-portfolio-grow-india-and-south-east-asia-businesses
Co-living specialist LHN posts 23.8% rise in full-year profit to $47.3 million
Singapore – Singapore-listed LHN unveiled record earnings for the year ended September, thanks to strong contributions from its core businesses and fair value gains. In a filing late on Nov 25, the Coliwoo co-living operator said net profit rose 23.8 per cent to $47.3 million, on the back of a 29.2 per cent rise in revenue to $121 million.
https://www.straitstimes.com/business/companies-markets/co-living-specialist-lhn-posts-23-8-rise-in-full-year-profit-to-47-3-million
Global Economy & Real Estate
Abu Dhabi’s top property developer sees jump in foreign buyers
https://www.businesstimes.com.sg/property/abu-dhabis-top-property-developer-sees-jump-foreign-buyers
China’s GDP forecast cut as Trump trade worries take hold before new term
https://www.scmp.com/economy/china-economy/article/3288033/chinas-gdp-forecast-cut-trump-trade-worries-take-hold-new-term
Builder Times China pressed for funding details on debt plan
https://www.businesstimes.com.sg/property/builder-times-china-pressed-funding-details-debt-plan
German business sentiment falls more than expected in November
https://www.businesstimes.com.sg/international/german-business-sentiment-falls-more-expected-november
Hong Kong property: Agile chairman Chen Zhuolin loses US$16 million in distress sale
https://www.scmp.com/business/article/3288084/hong-kong-property-agile-chairman-chen-zhuolin-loses-us16-million-distress-sale
Japan’s corporate service inflation steady, keeps alive BOJ rate-hike prospect
https://www.channelnewsasia.com/business/japans-corporate-service-inflation-steady-keeps-alive-boj-rate-hike-prospect-4770436
Morgan Stanley to sell New York City Park Avenue office condo to SL Green
https://www.businesstimes.com.sg/property/morgan-stanley-sell-new-york-city-park-avenue-office-condo-sl-green
New Zealand retail spending slows again, pointing to recession
https://www.businesstimes.com.sg/international/new-zealand-retail-spending-slows-again-pointing-recession
UK’s rising inflation may subdue spending this Christmas: Asda
https://www.businesstimes.com.sg/international/uks-rising-inflation-may-subdue-spending-christmas-asda
Half of UK firms will cut jobs after budget tax hikes, industry group says
https://www.straitstimes.com/business/economy/half-of-uk-firms-will-cut-jobs-after-budget-tax-hikes-industry-group-says
Bank of England suppressing debate on long-term rates, ex-policymaker says
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-england-suppressing-debate-long-term-rates-ex-policymaker-says
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