The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 11, 12 & 13 December 2021 (Sat, Sun & Mon)

Singapore Real Estate

Lee family of OCBC selling 6 semi-Ds at S$43.18m
Pulau Properties – owned by the Lee Foundation and members of the Lee family that founded OCBC Bank – is selling 3 pairs of semi-detached houses on a freehold site in Coronation Road West for S$43.18 million. The price for the District 10 property works out to S$2,000 per square foot on the land area of 21,587 sq ft.


Singapore Economy

Singapore’s building of economic and other links key amid Covid-19 disruptions: Iswaran
Singapore – Building on Singapore’s economic, digital and transport links takes on greater salience at a time when the Republic is dealing with disruptions caused by Covid-19, said Transport Minister S. Iswaran on Friday (Dec 10).

Singapore’s hub appeal takes a hit from Covid
With international borders affected and migration flows disrupted, Singapore’s focus on the domestic situation in the past two years of the Covid-19 pandemic has chilled the climate for foreign investors, watchers have told The Business Times.

Next year’s more substantial reopening seen boosting recovery
Singapore’s business scene is set for a brighter year ahead, on both a recovery and structural growth factors, industry watchers say. The republic is headed for a more substantial reopening in the new year, especially as economists find it too early to shade down growth forecasts on the threat of the Omicron variant.


Companies’ Brief

Mapletree Logistics Trust’s latest acquisitions, equity raising could sow doubt among investors
Mapletree Logistics Trust (MLT) does not appear to be the sort of real estate investment trust (Reit) that would face much difficulty raising capital to acquire assets and expand its property portfolio. With Mapletree Investments as its sponsor, MLT theoretically has access to a “pipeline” of high-quality assets across the region.

S-Reits with healthcare and China assets outshine in November
Global Reit markets dipped over the last 3 sessions of November, as investors grappled with the unknowns of the Covid Omicron variant. Similarly, the 3 sessions saw the iEdge S-Reit Index shave off 3.8 per cent in total returns, ending November with a 2.4 per cent decline.

Corporate digest


Views, Reviews, Forum & Others

How can excluding singles from buying PLH flats be inclusive?
Yet another big new flat that I am excluded from buying directly from the Housing Board by virtue of being single. That was my first thought when the new prime location public housing (PLH) model, which imposes stricter buying and selling conditions on flat owners to keep public housing in prime areas affordable, was announced in late October.

A house for the millennial

Interactive: How has the design of HDB homes in Singapore changed over the years?
Since 1960, over 1.2 million HDB flats have been built, providing homes for generations of Singaporeans – from pioneers, baby boomers to millennials and beyond. The design of HDB blocks has changed significantly over the years…

Rejuvenated Geylang Serai aims to draw both the young and old while retaining cultural identity
Singapore – The Geylang Serai Cultural Precinct aims to be a bustling spot for both the young and old in the Malay community while retaining the traditions of Malay culture, food and identity. The precinct will see new developments and transformation of existing key landmarks in the coming years.

Conquering the wealth curse
Fu bu guo san dai (Wealth does not last beyond three generations). While the Chinese adage has almost become a cliché, similar phrases exist in other cultures, from the Japanese to the Spanish. The wealth curse is real and universal, and the statistics bear this out.


Update on COVID-19 (Coronavirus Disease 2019) Situation

S’pore reports 559 new Covid-19 infections and 6 deaths; ICU utilisation rate falls to 48.6%
Singapore – There were 559 new Covid-19 infections and six deaths recorded in Singapore on Saturday (Dec 11). The number is up from the 454 cases and four deaths recorded on Friday. It is the ninth day in a row that the number of new coronavirus cases have fallen below 1,000, according to statistics published by the Ministry of Health’s (MOH) website.

Another Changi Airport staff among 3 in S’pore who test preliminarily positive for Omicron
Singapore – Three more people, including another airport front-line worker, have preliminarily tested positive for the Omicron variant of the virus that causes Covid-19, said the Ministry of Health (MOH) on Friday (Dec 10).

97% of S’pore workforce fully vaccinated; experts call for calibrated return to office
Singapore – Ninety-seven per cent of Singapore’s workforce have been vaccinated, and only about 75,000 employees are unvaccinated as at Dec 5, the Ministry of Manpower told The Sunday Times. This marks a one-third decrease since Oct 17, when there were 113,000 unvaccinated workers.

The big questions on Omicron: What we know and what it means for us
[Singapore] Singapore reported its first local Omicron case on Thursday (Dec 9) – a front-line worker at Changi Airport who was infected despite already receiving the booster shot of the Covid-19 vaccine. The Straits Times looks at what is known and what remains unknown about this new variant of the coronavirus that causes Covid-19, and what this could mean for Singapore.

S’pore approves Pfizer Covid-19 jab for children aged 5 to 11; booster shots for 18- to 29-year-olds from Dec 14
Singapore – Children from five to 11 years old will be able to receive the Pfizer-BioNTech/Comirnaty Covid-19 vaccine from the end of the month.  Vaccination for this group will begin once new batches of the vaccine are received, the Ministry of Health (MOH) said in a statement on Friday (Dec 10) night.

Singapore on track to further ease Covid-19 measures soon: Experts
Singapore – Experts say Singapore should be on track to further ease Covid-19 measures soon, given the current situation and how things have developed over the past three weeks. They added that while it is still too early to tell the impact of the Omicron variant, there have been some encouraging early signs.

AstraZeneca’s antibody drug for Covid-19 treatment to arrive in S’pore by end of the year
Singapore – Supplies of AstraZeneca’s antibody drug for the treatment of Covid-19 are expected to arrive by the end of the year, after Singapore signed a new purchase agreement with the drugmaker. Known as Evusheld, the drug cocktail is a combination of two “long” antibodies – which take longer to metabolise in the body and can provide longer-lasting protection for up to a year, compared with monoclonal antibodies.

Flowflex ART kits available at $4.90 each at Unity and FairPrice outlets
Singapore – The battle against Covid-19 has scored a breakthrough with the roll-out of a new, cheaper self-test kit. The Flowflex antigen rapid test (ART) kit can be purchased from Friday (Dec 10) at all 70 Unity stores and more than 90 FairPrice supermarkets, FairPrice Finest supermarkets, FairPrice Xtra hypermarkets, Warehouse Club and FairPrice online.

Tightened border rules in S’pore, VTL countries in response to Covid-19 variant Omicron
Singapore – The Republic and several countries with which it has started vaccinated travel lanes (VTLs) have introduced new border measures following the emergence of the Covid-19 variant Omicron. Here is a look at some of the stricter requirements that were announced in recent weeks that will affect vaccinated air travellers.

Flight cancellation rates dip as travellers’ fears about Covid-19 variant Omicron ease
Singapore – Travellers seem less spooked now by Omicron, with fewer of them cancelling their flights compared with when the Covid-19 variant first emerged. The cancellation rate for flight bookings into Singapore has fallen to 41 per cent as at Wednesday (Dec 8), after peaking at 58 per cent on Dec 2, air travel analytics firm ForwardKeys told The Straits Times.

*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

Omicron spreads faster and weakens jabs: WHO

US consumer prices climb at fastest annual rate since 1982

Inflation gut-punches millennials

Bitcoin posts fourth consecutive weekly drop from all-time high

Superbonus! Italy’s green growth gambit lines homes and pockets

New Zealand home prices to continue moderate growth: Reinz

Abandoned projects shatter confidence in China’s housing market

China’s stock of unsold new homes hits 5-year high amid weak demand

Private equity firms plan cuts in China to escape property woes, economists expect fiscal support

Malaysia cashing in on chips as Covid-19 drives global shortage


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