DAILY NEWS

Daily News – 17th, 18th and 19th Aug 2019

Singapore Real Estate

NDR 2019: New attractions, housing and office spaces to be developed in Greater Southern Waterfront
Singapore: New attractions are being planned for Pulau Brani, similar to Universal Studios Singapore on Sentosa, announced Prime Minister Lee Hsien Loong on Sunday (Aug 18). The island, currently home to Brani Terminal, will be set aside for “fun and recreation” as part of the Government’s plans to remake Singapore’s Greater Southern Waterfront (GSW), he said in his National Day Rally speech.
https://www.channelnewsasia.com/news/singapore/ndr-2019-greater-southern-waterfront-pulau-brani-sentosa-keppel-11819376

SEA to be the fastest-growing region for data centres
South-east Asia is poised to be the fastest-growing region for co-location data centres over the next five years, according to new research by Cushman & Wakefield and Structure Research. In a report issued on Monday, it noted that South-east Asia’s market size will expand by a compounded annual growth rate (CAGR) of 13 per cent between this year and 2024.
https://www.businesstimes.com.sg/real-estate/sea-to-be-the-fastest-growing-region-for-data-centres

HDB flats among 9,000 homes planned for Keppel Club site
About 9,000 housing units – both public and private – will be built on the site of Keppel Club as part of the future Greater Southern Waterfront, said Prime Minister Lee Hsien Loong yesterday. There will be private and public housing elsewhere too, he added during his National Day Rally speech, confirming for the first time that the mega waterfront development will have HDB flats.
https://www.straitstimes.com/politics/hdb-flats-among-9000-homes-planned-for-keppel-club-site
https://www.todayonline.com/singapore/pulau-brani-house-ntuc-downtown-south-attractions-akin-universal-studios-singapore

Park Place Residences nearly sold out; just 3 units available
Park Place Residences – the residential component of the new Paya Lebar Quarter (PLQ) mixed-use development – is nearly sold out, with just three of the 429 units still available. Lendlease, the developer of the S$3.6 billion, four-hectare PLQ, gave this update on Thursday, ahead of the preview of the project’s mall that will commence on Aug 30. The grand opening is set for Oct 24.
https://www.businesstimes.com.sg/real-estate/park-place-residences-nearly-sold-out-just-3-units-available

Singapore Economy

Retirement age, CPF rates for older workers to be raised: PM
From helping older workers stay employed to tackling climate change, Prime Minister Lee Hsien Loong addressed major issues for Singapore’s future in Sunday night’s National Day Rally – while noting that the current economic slowdown does not warrant stimulus measures, for now. To help older workers keep working and be more financially independent, the retirement and re-employment ages will be raised…
https://www.businesstimes.com.sg/government-economy/retirement-age-cpf-rates-for-older-workers-to-be-raised-pm
https://www.straitstimes.com/singapore/pm-unveils-plans-to-secure-spores-future
https://www.straitstimes.com/politics/higher-cpf-contribution-rates-for-older-workers
https://www.channelnewsasia.com/news/singapore/national-day-rally-2019-education-retirement-climate-change-11819494
https://www.channelnewsasia.com/news/singapore/ndr-2019-full-cpf-contributions-should-extend-up-to-65-11819988
https://www.todayonline.com/singapore/ndr2019-highlights-and-key-announcements
https://www.todayonline.com/singapore/govt-raise-retirement-age-65-and-re-employment-age-70-2030-cpf-contribution-rates-older

Unmanned stores one way to beat retail manpower crunch
Singapore retailers must evolve and adopt technology solutions to compete effectively in a difficult economic environment; and unmanned store concepts are one way in which some local enterprises are doing just that, said Minister for Trade and Industry Chan Chun Sing on Friday. Speaking at the Singapore Retail Industry Conference and Exhibition (SRIC.E) 2019, Mr Chan said he was encouraged that the…
https://www.businesstimes.com.sg/companies-markets/unmanned-stores-one-way-to-beat-retail-manpower-crunch
https://www.straitstimes.com/singapore/convenience-stores-going-high-tech-to-stave-off-competition

Companies’ Brief

Lendlease preparing for S-Reit listing that will include Orchard mall
Australia-listed property developer Lendlease Group is injecting a shopping mall in Orchard Road into its upcoming global commercial real estate investment trust (Reit) listing worth at least S$1 billion in market capitalisation. The Business Times understands the initial public offering (IPO) portfolio will comprise one property each in Singapore and Milan, Italy with a total net lettable area of 1.3 million square feet and an…
https://www.businesstimes.com.sg/companies-markets/lendlease-preparing-for-s-reit-listing-that-will-include-orchard-mall

Views, Reviews, Forum & Others

How a long-drawn US-China trade conflict could affect Singapore
The tit-for-tat tariffs that the United States and China started imposing on each other over the past year have escalated into a full-blown trade war that could even engulf foreign-currency markets. The latest escalation came this month when Washington threatened to add an additional 10 per cent levy on US$300 billion (S$415 billion) worth of Chinese imports on Sept 1 before backing off shortly after.
https://www.straitstimes.com/business/economy/how-a-long-drawn-us-china-trade-conflict-could-affect-singapore

After Fed’s rate cut, where are Singapore interest rates and home loans headed?
Singapore: Home owners hoping for some relief from their monthly mortgage repayments may be in for some disappointment, even if a benchmark local interest rate, which many home loans are pegged to, has edged down following a recent rate cut by the US Federal Reserve. This as some banks have begun trimming their home loan interest rates as early as April in anticipation of the Fed’s move, market…
https://www.channelnewsasia.com/news/business/fed-rate-cut-singapore-interest-rates-sibor-mortgage-home-loans-11809388

Rising sea levels to affect property values? Not if the Govt has solutions planned, say analysts
Singapore — When sea levels rise, the low-lying areas of Singapore that will increasingly be at risk include a long stretch on the East Coast from Changi to the city centre, but property analysts said that this will unlikely affect the value of real estate in these areas. This is because the Government has already indicated that it is going to tackle the problems, they said.
https://www.todayonline.com/singapore/rising-sea-levels-to-affect-property-values-not-if-government-has-solutions-say-analysts

Hotels of the future
Beating the rest of the services sector, the accommodation and food services industry here notched productivity gains of 2 per cent last year. And, with looming cuts to the services sector’s foreign worker quotas, the hospitality industry may have to step up its technology adoption.
https://www.businesstimes.com.sg/consumer/hotels-of-the-future

Manulife US Reit’s Asian advantage
Listed on the Singapore Exchange in May 2016, Manulife US Reit (Must) was set up with the strategy to invest, directly or indirectly, in a portfolio of income-producing office real estate in key markets in the United States, as well as real estate-related assets. It was the first pure-play US office Reit to be listed in Asia. Must’s portfolio comprises eight prime, freehold, trophy/Class A office properties strategically…
https://www.straitstimes.com/business/invest/manulife-us-reits-asian-advantage
https://www.straitstimes.com/business/property/hotels-of-the-future

Build condo awning to guard against killer litter like window frames? Some love it, others hate it
A metal window frame and a baby bathtub were among the pieces of killer litter that have landed on her ground-floor patio at the D’Leedon condominium over the past two years, said a home owner. The home owner, who did not want to be named, told The Straits Times that her children were playing outside just minutes before the metal frame came crashing down last year.
https://www.straitstimes.com/singapore/residents-love-hate-relationship-with-condo-awnings
https://www.straitstimes.com/singapore/strata-titles-board-states-its-stand-on-condo-spat-over-awning