The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 16 Mar 2022 (Wed)

Singapore Real Estate

Condo resale prices up 0.6% in February, rising over 19 straight months
Condominium resale prices have gone up for 19 straight months, rising 0.6 per cent in February this year, compared to the previous month, according to flash estimates from SRX Property and released on Tuesday (Mar 15).

Singapore new private home sales slump 22.5% in February under ‘quadruple whammy’
New private home sales slumped in February under a “quadruple whammy” from the Chinese New Year lull period, a declining housing supply, cooling measures and global uncertainties from the Russia-Ukraine war.

URA bars strata subdivision for commercial properties in key parts of Central Area
Commercial developments as well as the commercial component of mixed-use developments located in prominent areas and routes in Singapore’s Central Area are no longer allowed to be strata subdivided into individual units.

Singapore Tourism Board seeks proposals for Jurong Lake tourism project
The Singapore Tourism Board (STB) on Tuesday (Mar 15) launched a request for proposals (RFP) to develop and operate an integrated tourism development at Jurong Lake District. This comes nearly 3 years after the statutory board’s expression of interest (EOI) exercise was first announced for the development of the 6.8 hectare site next to Jurong Lake…

Focus on construction industry’s recovery and digitalisation at BuildTech Asia 2022
Singapore – About 40 per cent of Singapore’s resident professional, managerial, executive and technical workforce in the built environment sector are 50 years or older, said Minister of State for National Development Tan Kiat How on Tuesday (March 15).


Companies’ Brief

Keppel consortium takes remaining 50% stake in Cleantech Solar Asia
A consortium comprising Keppel Corporation, Keppel Asia Infrastructure Fund LP (KAIF) and a co-investor of KAIF will acquire the remaining 50 per cent stake in Cleantech Solar Asia (CSA) for US$115 million.

PropertyGuru to debut on NYSE as investors approve Spac deal
Singapore (Bloomberg) – Shareholders approved the merger of PropertyGuru and blank-cheque company Bridgetown 2 Holdings, paving the way for the online real estate marketplace to start trading in New York even as investor interest towards such deals wanes.

Reit distributions to fund your retirement may be less than what you anticipate
Singapore-listed real estate investment trusts (S-Reits) have been a favourite asset class for investors in search of income. But those hoping to retire with a portfolio of Reits should be mindful of future demands for cash infusions.


Views, Reviews, Forum and Others

Too many S-Reits making cash calls that don’t add value for unitholders
The pace of fundraising activities among Singapore-listed real estate investment trusts (S-Reits) has been accelerating. Nearly half of the 60-odd rights issues and preferential offerings launched in the 20-year history of S-Reits have come over the past 5 years.

South-east Asia’s road to recovery presents an opportunity
Before the Covid-19 pandemic struck, South-east Asia had been a global success story in fostering growth and reducing poverty. The pandemic abruptly reversed those gains, casting 4.7 million more people into dire poverty in 2021 and leading to 9.3 million fewer jobs created in the same year, compared with a no-Covid scenario.

All eyes on FOMC meeting as stagflation risks loom
Before the Russian invasion of Ukraine, there were murmurings in some circles that stagflation in the US could be a looming problem. The first hint of this came after last August’s shocking jobs miss, when only 235,000 jobs were created versus projections that the figure would be 720,000.

41% of Singapore workers ‘would pick remote working over bigger bonus’
After working from home for close to 2 years, 41 per cent of workers in Singapore would rather work remotely than receive a bigger bonus, a survey by human resources solutions agency Randstad has found.

Sustainability agenda ‘no longer a box-checking exercise’
Rising geopolitical tensions and inflationary pressures present trade-offs for sustainability, but a commitment to responsible investments is all the more important in such times, top financial executives said on Tuesday (Mar 15).


Update on COVID-19 (Coronavirus Disease 2019) Situation

Covid-19 cases in Singapore back above 10,000, weekly infection rate lowest since Dec 30
[Singapore] Daily Covid-19 cases climbed back above 10,000 on Tuesday (Mar 15), with 15,851 new cases reported by the Ministry of Health. Before this, the number of cases had been below 10,000 for 2 days in a row – the only 2 times so far this month.

Uncertainty of Covid-19 situation should not hold S’pore back from easing restrictions: Experts
Singapore – The Covid-19 situation remains uncertain and recurrent waves of infection could happen in the future, but this should not mean that Singapore should hold back completely from easing its pandemic curbs, said experts on a panel on Tuesday (March 15).

Will we need more booster shots? What’s known so far about ‘Deltacron’? Here’s what experts say
Singapore – The Straits Times on Tuesday (March 15) hosted a panel discussion on Covid-19 measures and when they can be eased further, moderated by Straits Times senior health correspondent Salma Khalik.

Malls, supermarkets adjust to simplified Covid-19 rules but some remain cautious
Singapore – From Tuesday (March 15), safe distancing is not mandatory in places, such as supermarkets and malls, where patrons and workers continue to wear masks. But shoppers at supermarket chain FairPrice will find that the familiar markings on the floor to space out the checkout lines have not been removed.

Singapore can afford to relax its travel testing restrictions: Experts
Singapore – Experts are calling for the authorities to relax travel restrictions to Singapore, saying the Omicron variant has peaked and imported cases are contributing little to the Covid-19 case count.

More Covid-19 deaths in S’pore recently as Omicron caused many more infections: Experts
Singapore – Omicron’s mortality rate is lower than Delta’s but the high number of cases in recent months has contributed to more deaths in Singapore, especially among the unvaccinated, experts said.

Ease Covid-19 curbs further, but keep an eye on Singapore’s health system: Experts
Singapore – The daily Covid-19 case count peaked about three weeks ago and has been declining since, but public hospitals are still seeing a heavy patient load, said experts. This is because there is always a lag of about two weeks for the situation in hospitals to catch up with the peak in case number reporting.

*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

US producer prices rise 10%, reinforcing Fed’s rate-hike path

Pfizer-BioNTech seek US approval of second Covid booster for 65+

UK unemployment falls below pre-pandemic level

Ardern opens border to foreigners as ‘Fortress New Zealand’ ends

Kyiv says ‘fundamental contradictions’ in talks with Russia

China economy starts year strongly as Covid, war risks loom

China faces biggest Covid-19 surge yet, locks down cities, redirects flights

Japan ruling coalition proposes new stimulus package to cushion economy

Japan’s February exports rise 19.1% y-o-y: MOF

Nearly half of Hong Kong’s population has already caught Covid

Foreign investors keen on Malaysia industrial properties

Malaysia to have uniform VTL requirements for Cambodia, Singapore, Thailand

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