The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 14 January 2022 (Fri)

Singapore Real Estate

Vibrant communities thrive at CapitaLand’s 79 Robinson Road
The future of work is now a reality at the Central Business District’s (CBD) latest landmark, a joint development by CapitaLand, Mitsui & Co., Ltd. and Tokyo Tatemono Co., Ltd. – 79 Robinson Road – which officially opens its doors today.

Buying a flat? Check how much direct sunlight it gets with new virtual 3D map of S’pore
Singapore – Homebuyers can now see how much sun their potential new home will get, as well as surrounding amenities and other features, without having to do a home viewing.

A future without carparks at home: URA sets out possibilities for a driverless vehicle city
Singapore – Some 50 years from now, there may no longer be carparks in every building. After a person alights at his destination, his car would travel on its own to an out-of-the-way storage hub, where it can accurately park itself just centimetres from another driverless car, thus saving space.


Singapore Economy

Singapore’s GIC set to manage extra S$185b in reserves
[Singapore] Singapore’s sovereign wealth fund GIC is poised to get a massive influx of new funds to manage after the city-state changed the way the central bank transfers excess foreign currency reserves to the firm.

GST hike: There’s no good time to do it
Amid rising inflation, there are natural concerns about the impending increase in the goods and services tax (GST) which is scheduled to rise from 7 per cent to 9 per cent sometime before 2025.

SCCCI launches framework to help trade associations transform, upskill workers
The Singapore Chinese Chamber of Commerce and Industry (SCCCI) on Thursday (Jan 13) launched a new framework aimed at helping trade associations and chambers strengthen their capabilities and upskill their workers.

Singapore still world’s busiest container transhipment port, with record 37.5m TEUs of throughput in 2021
In 2021, Singapore’s container throughput rose to a new record high of 37.5 million 20-foot equivalent units (TEUs), helping the Republic to retain its pole position as the world’s busiest container transhipment port.


Companies’ Brief

UOB to buy Citi’s consumer business in 4 Asean countries for about $4.9 billion
Singapore – UOB has agreed to acquire Citigroup’s consumer banking franchise in Indonesia, Malaysia, Thailand and Vietnam for about $4.915 billion. UOB will pay a cash consideration for the net asset value of the business as at completion plus a premium of $915 million, the bank said in a statement on Friday (Jan 14).

Views, Reviews, Forum & Others

Things to know before diving into Singapore SPACs
The first special purpose acquisition companies (SPACs) are set to be listed on the Singapore Exchange (SGX) shortly. Headlines over the past year have been dominated by this alternative listing structure, notably with the listing of homegrown ride hailing and delivery services giant Grab on the Nasdaq.

Scrap SMS use in wake of rising scams, banks urged
Rising SMS-related banking scams continue to expose a damaging weakness in Singapore’s cybersecurity infrastructure, one that remains challenging to pinpoint exactly where given the hyper-connectedness of our networks today.

Singapore – lessons from the rise and fall of great cities
Singapore is unique in being a city, a state and a nation all at once. Yet its continued success depends on drawing lessons from the likes of New York City, Chang’an and Jericho, said Minister for Health Ong Ye Kung in his keynote speech on Thursday (Jan 13) at the Singapore Perspectives 2022 forum organised by the Institute of Policy Studies. Here are edited excerpts from his speech.

Transiting from a take-make-waste model to a circular economy
Companies can make a difference by designing products to be easily recycled, manufacturing with recycled content, and working with customers to take back products at the end of their lives.


Update on COVID-19 (Coronavirus Disease 2019) Situation

549 new Omicron cases; infectious growth rate dips to 1.43
[Singapore] There were 549 new cases of the Omicron variant recorded in Singapore on Thursday (Jan 13), down from 797 a day earlier. Of these, 366 were local cases and 183 were imported, the Ministry of Health (MOH) said in its daily update on Thursday (Jan 13).

Singapore researchers studying effects of mixing Covid-19 vaccines on immune system
Singapore – Researchers in Singapore are studying the impact mixing different Covid-19 vaccines, including some not currently under the national vaccination programme, can have on the body’s immune system.


*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 ‘dangerous’, especially for unvaccinated: WHO

WHO approves two new Covid-19 treatments

Supermarket shelves go bare as Omicron disrupts US

Federal Reserve officials nod to March rate hike as inflation drumbeat grows louder

Manhattan rents hit record as market shows signs of cooling

Covid isolation rules eased to end Australia supply chain crisis

5 things to watch for in China’s economic report on Monday

China developer Sunac’s US$580m share sale halts downward bond spiral

China growth seen slowing to 5.2% in 2022, modest policy easing expected

China banks curb property loans to local government firms

Evergrande snags payment extension as more Chinese developers race to avert defaults

Bank of Japan debates messaging on eventual rate hike as inflation perks up

South Korea’s central bank raises rates amid inflation worries

South Korea to submit supplementary budget this month

South Korea extends distancing curbs ahead of holidays, Omicron wave

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