DAILY NEWS

Daily News – 19 January 2022 (Wed)

Singapore Real Estate

Singapore office rents improve in Q4 2021, will continue to grow: Knight Frank
After a slow start to 2021, Singapore office rents grew in Q4 and are expected to improve in 2022, Knight Frank reported in their quarterly office market update. Prime grade office rents in Raffles Place/Marina Bay grew quarter on quarter by a sharper 1.5 per cent to S$10.13 per square foot per month from Q3 to Q4 of 2021, compared to a 0.2 per cent increase from Q2 to Q3 of 2021.
https://www.businesstimes.com.sg/real-estate/wealth-investing/singapore-office-rents-improve-in-q4-2021-will-continue-to-grow-knight

Luxury homes untouched by latest property cooling measures for now
While market activity in the property sector is said to have slowed after the cooling measures, demand for luxury homes has yet to dry up as some local first-time home buyers and others exempt from the Additional Buyer’s Stamp Duty (ABSD) continue to transact.
https://www.businesstimes.com.sg/real-estate/high-end-private-homes-draw-certain-buyers-amid-slower-market-activity

Freehold commercial building at East Coast Road up for sale at S$23.5m guide price
A freehold commercial building located at 143 East Coast Road has been put up for sale via expression of interest (EOI) with a guide price of S$23.5 million, sole marketing agent PropNex said on Wednesday (Jan 19).
https://www.businesstimes.com.sg/real-estate/freehold-commercial-building-at-east-coast-road-up-for-sale-at-s235m-guide-price

URA tender pulls in 8 bids for Jalan Tembusu plot and 4 for Lentor site
The maiden state tender for private housing sites, coming after the mid-December property cooling measures, has drawn mixed results. The 8 bids received for a District 15 plot at the corner of Jalan Tembusu and Tanjong Katong Road, as well as the highest bid (from City Developments or CDL) of S$1,302 per square foot per plot ratio (psf ppr)…
https://www.businesstimes.com.sg/real-estate/ura-tender-pulls-in-8-bids-for-jalan-tembusu-plot-and-4-for-lentor-site?close=true
https://www.straitstimes.com/business/property/cdl-bids-768m-for-jalan-tembusu-site-in-state-land-sale-consortium-bids-5866m-for-lentor-hills-site

Singapore Economy

Firms want more support but economists expect tighter purse strings in third Covid Budget
Covid-19 business support has to be wound down further in Singapore’s third pandemic-era Budget, economists say, citing a need to normalise fiscal policy. Yet industry players are still banking on more short- and long-term aid, especially in harder-hit sectors.
https://www.businesstimes.com.sg/government-economy/firms-want-more-support-but-economists-expect-tighter-purse-strings-in-third

Views, Reviews, Forum & Others

Three priorities for Budget 2022
During the run-up to Budget 2022, which will be presented on Feb 18, various wish lists have appeared from professional service firms, business federations and Members of Parliament. The broad message that emerges is that the economic recovery is fragile and uneven, many companies still need help and fresh incentives are needed to encourage investments in key areas.
https://www.straitstimes.com/opinion/three-priorities-for-budget-2022

Defining digital transformation: Embrace long-term evolution
As our world evolves at breakneck speed, the requirements for succeeding in the digital-first era are constantly changing. Research has shown that the global pandemic has accelerated the digitalisation of products and services in Asia-Pacific by nearly a decade
https://www.businesstimes.com.sg/opinion/defining-digital-transformation-embrace-long-term-evolution

Gearing up to ride the SPAC wave: 3 key aspects
Special purpose acquisition company (SPAC) initial public offerings (IPOs) have been under the spotlight in recent years. Notably, in 2021, SPAC IPOs claimed fame, with US exchanges having seen more SPACs than traditional IPOs that year.
https://www.businesstimes.com.sg/opinion/wealth-investing/gearing-up-to-ride-the-spac-wave-3-key-aspects

Update on COVID-19 (Coronavirus Disease 2019) Situation

1,448 new Covid-19 cases in Singapore, infection growth rate rises to 1.76
[Singapore] There were 1,448 new Covid-19 cases as at noon on Tuesday (Jan 18), said the Ministry of Health (MOH) in its daily update. This is an increase from the 1,165 new cases reported on Monday, which was the first time Singapore reported over 1,000 new local coronavirus cases since Dec 2.
https://www.businesstimes.com.sg/government-economy/1448-new-covid-19-cases-in-singapore-infection-growth-rate-rises-to-176
https://www.straitstimes.com/singapore/1448-new-covid-19-cases-in-spore-infection-growth-rate-rises-to-176

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation