The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 12th Mar 2020 (Thu)

Singapore Real Estate

Haji Lane, Arab Street shophouses up for sale with S$8.5m reserve price
Two adjoining conservation shophouses located at 56 Haji Lane and 87 Arab Street are up for sale via tender at a reserve price of S$8.5 million. This translates to S$3,864 per square foot (psf) on a built-up area of around 2,200 square feet (sq ft), exclusive marketing agent PropNex Realty said on Wednesday.

Condo and HDB rents, volumes up in February: SRX
Rents and volumes of non-landed private homes and HDB flats rose in the month of February, according to flash estimates from real estate portal SRX Property. Condominium rents rose 0.1 per cent from January and was up 3.3 per cent year-on-year. Month-on-month

IRAS clears air on tax rebate; most landlords to pass on rebates
All types of shops, including those in mixed-use developments, will qualify for the property tax rebate for landlords, says the Inland Revenue Authority of Singapore (IRAS). In its updated e-tax guidelines posted on Tuesday, the agency stated that commercial properties, including shops, restaurants and cinemas, are eligible for the 15 per cent property tax rebate, even if they are located in office buildings.

Black-and-white houses exude character, but are not for faint-hearted
Distinctive homes in lush settings for the elite few, Singapore’s 500 black-and-white bungalows present a different facet of a city where everything works with clockwork efficiency and money can seemingly fix any inconvenience.


Singapore Economy

Some economists looking at full-year Singapore recession as outbreak worsens
Private-Sector economy watchers last month slashed Singapore’s full-year growth forecast by more than half – but, as global uncertainty swells, some now believe that even that downward adjustment might be too rosy.

Workplace fatalities fall to record low in 2019; injuries rise
The number of workplace fatalities in Singapore last year fell to a record low, but this improvement was blunted by a rise in major and minor non-fatal injuries. To reduce the rate of injuries, the Ministry of Manpower (MOM) said it will include experiential training in a course for construction workers and make it mandatory by 2022.

United Hampshire US Reit’s Singapore IPO 1.4 times subscribed
The initial public offering (IPO) for United Hampshire US Reit, the first retail real estate investment trust (Reit) with US exposure here, was oversubscribed, it said in an exchange filing on Wednesday. The Singapore public offer attracted 848 valid applications for 10.3 million units, while 7.5 million units were available to the public for subscription, representing a subscription rate of 1.4 times.

Singapore tops global survey on order and security
Singapore has been ranked No. 1 for order and security in an annual global survey on ordinary people’s experience of their country’s rule of law. It also improved its overall position in the World Justice Project Rule of Law Index 2020, based on eight primary factors, including constraints on government powers…


Companies’ Brief

FLT and FCOT unitholders approve merger
Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) unitholders have voted overwhelmingly to approve a proposed merger, the managers of both trusts said on Wednesday. They also approved the proposed acquisition of Farnborough Business Park in the United Kingdom by the enlarged entity.

Lum Chang sells freehold London office building for £54.8m
Mainboard-listed builder Lum Chang Holdings’ 70 per cent-owned subsidiary, UK Property Investment, has sold a freehold London office building for £54.8 million (S$98.7 million) in cash, the company said in a bourse filing on Wednesday.

SPH commences £10.6m asset enhancement initiative on UK student accommodation
Singapore Press Holdings (SPH) has commenced a £10.6 million (S$18.9 million) asset enhancement initiative to refurbish nine properties in its UK student accommodation portfolio. This comes as the media group looks to meet the changing accommodation type preferences, as well as “maintain their competitive edge over other properties in the area”.


Views, Reviews, Forum & Others

Economics and taxation in the digital economy
Technological advancements have dramatically changed global trade of goods and services, placing immense pressure on internationally-accepted principles governing the taxation of cross-border business income.


Singapore Budget 2020

Saving jobs a top priority: DPM Heng
Preventing retrenchments amid the economic uncertainty, both for the sake of workers and companies in the long run, is a foremost priority of the Government, Deputy Prime Minister and Finance Minister Heng Swee Keat said yesterday.

Singapore not ruling out using reserves for second support package
With a second support package on the way amid the ongoing Covid-19 outbreak, the government is not ruling out the possibility of tapping past reserves to fund it, said Deputy Prime Minister and Finance Minister Heng Swee Keat in a roundtable held by The Business Times and The Straits Times on Wednesday.

All hands on deck as Singapore tackles Covid-19 and economic challenges
A post-Budget roundtable, featuring DPM Heng Swee Keat, discusses ways to deal with the double shocks

Banks, trade associations can help SMEs understand risk-based approach to loans
Banks and trade associations can do more to help small businesses understand the risk-based approach to loans, so that these businesses can take action to qualify for more favourable interest rates, Deputy Prime Minister and Finance Minister Heng Swee Keat suggested on Wednesday.

Businesses can do their part, find ways to innovate
Trade associations and banks can work together to better support small and medium-sized enterprises (SMEs) during the coronavirus crisis. But SMEs, too, must be pro-active in adopting technology and transforming if they are to emerge stronger after the downturn…

Agencies key to coordinating global response to outbreak
Global health and financial insti-tutions such as the World Health Organisation (WHO) and the World Bank play a crucial role in coordinating the global response to the coronavirus outbreak and its ensuing economic fallout, Deputy Prime Minister Heng Swee Keat said yesterday.

GE timing being discussed, with eye on challenges ahead
The coronavirus situation and its impact on the economy are likely to worsen, and ensuring Singapore can focus on overcoming the challenges is a major factor in deciding when to hold the general election, Deputy Prime Minister Heng Swee Keat said yesterday.


Update on COVID-19 (Coronavirus Disease 2019) situation

WHO labels Covid-19 as a pandemic
[Geneva] The new coronavirus outbreak can now be characterised as a pandemic, the head of the World Health Organisation said Wednesday. “Covid-19 can be characterised as a pandemic,” WHO chief Tedros Adhanom Ghebreyesus told reporters in Geneva. “We have never before seen a pandemic sparked by a coronavirus.”

Transparency, accurate info key to allaying people’s fears
Being transparent and putting out clear, accurate information are important to allay people’s fears amid the Covid-19 outbreak, Deputy Prime Minister Heng Swee Keat said on the panic buying of basic essentials by people around the world.

Two of Singapore’s earliest clusters no longer active and are officially closed
Two of Singapore’s earliest detected coronavirus clusters have officially been closed and are no longer considered active, the Ministry of Health (MOH) said. MOH director of medical services Kenneth Mak said on Tuesday that both the Yong Thai Hang health products shop and Grand Hyatt Singapore clusters have not been linked to new Covid-19 cases in more than 28 days.
*For more information, please visit the Ministry of Health (MOH) website at and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

$117b and counting: Govts loosen purse strings to ease virus pain

European govts face uphill task to boost faltering economies

US consumer prices rise due to Covid-19

US dollar resumes decline; sterling rebounds after rate cut

UK announces emergency rate cut, budget boost in two-pronged stimulus programme

UK launches £30 billion stimulus plan after interest rate slash

Pimco to run Allianz Real Estate, forming US$100 billion unit

Asia markets end lower as risk aversion returns

Emergency rate cuts loom for Asia as novel coronavirus slams economies

Apac’s PE AUM hit US$1.2t in 2019, accounting for one-third of world total: Bain

Banks face double whammy as downturn sets off wave of rate cuts

More than 100 builders go bust in China as virus strains deepen

Japanese firms dole out smaller pay hikes as coronavirus outbreak squeezes profits

Indonesia’s Omnibus Bill: Focusing on a cure for economic ills


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

Scroll to Top