The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 20 August 2021 (Fri)

Singapore Real Estate

Orchard Towers collective sale committee appoints Edmund Tie, Legal Solutions
Edmund Tie has been named the marketing consultant for the potential collective sale of Orchard Towers, while Legal Solutions LLC is the appointed law firm, The Business Times (BT) understands. The next steps in the process will include determining the reserve price and the method of apportionment of the collective-sale proceeds.


Companies’ Brief

Boustead Singapore’s geospatial business potential worth watching for investors
Boustead Singapore has had a decent performance in spite of the pandemic year. For FY2021 ended March, it recorded a slight dip in revenue but generated record net profit. The company’s bottomline has been powered by its geospatial and energy engineering divisions, as well as a value-unlocking gain at its real estate division.

Hotel Grand unit sells Australia property for A$10.9m amid ‘challenging’ outlook
Hotel Grand Central (HGC), through its wholly-owned unit, has sold Hotel Grand Chancellor in Australia for A$10.9 million (S$10.6 million) in cash to a third party, taking into account the challenging current and future hotel market outlook in the Palm Cove locality.

SC Capital set sights on Japanese hotels with US$550m fund
Singapore’s SC Capital Partners aims to raise around US$550 million for a new fund targeting hard-hit Japanese hotels, betting that tourism will come back strongly once the coronavirus pandemic subsides. The asset manager is one of a number of foreign investors, including Blackstone Group, aiming to scoop up Japanese hotels as owners put assets up for sale to generate cash.



Views, Reviews, Forum & Others

As the pandemic draws on, mental health should be key priority for Singapore
The Covid-19 pandemic shows few signs of abating around the world. On the contrary, the emergence of new and more aggressive variants has seen many countries moving in and out of lockdowns, with the unprecedented stress on workers leading to a spike in the number of people seeking mental health support across the globe.

The real problem about low wages in Singapore
The issue of low-wage workers and how to raise wages for this group of workers has gained nationwide attention – and sympathy – in recent years. The issue is twofold. First, how to raise average wages in domestic services sectors such as cleaning, security, food and beverage, retail, transport, construction and healthcare.

Cool new way to help transform Tampines into eco-town by 2025
Owners of seven buildings in Tampines Central are giving high energy bills the cold shoulder by coming together to tap a centralised cooling system. The project by Temasek and SP Group is one of the efforts to transform Tampines into an eco-town by 2025, in line with the Singapore Green Plan 2030.

JTC makes two innovation calls to improve sustainability on Jurong Island
The government is calling for innovative ideas to enhance sustainability and circularity of resources as well as test-bedding renewable energy solutions on Jurong Island. The innovation calls were announced on Thursday by Second Minister for Trade and Industry Tan See Leng at the closing webinar of the Jurong Island Circular Economy (JICE) study.

Refresh your management
The audacious title to today’s article does not mean that I will cover every aspect of management. Nobody could in a few hundred words. I aim to deal with the most critical aspects of organisation control that are changing and hope to stimulate some thoughts for shaping the future management genre.


Singapore Budget 2021

President gives nod to additional S$2b in Covid support
President Halimah Yacob has given the go-ahead to fund more than S$2 billion in additional support to cushion the impact of Covid-19 on Singaporeans and businesses. She gave her assent to the FY2021 Supplementary Supply Bill on Thursday, a move which formally authorises and provides for the support measures announced by the government in July.

Update on COVID-19 (Coronavirus Disease 2019) Situation

Giant supermarket in Hougang Ave 8 one of 2 new clusters
There were two new Covid-19 clusters yesterday, including one at the Giant supermarket at Block 683 Hougang Avenue 8 with seven cases. The other cluster is linked to an individual and currently has 32 cases linked to it.

MOM: Updated vaccination advisory soon for workers
Covid-19 vaccination guidelines for workers are being reviewed, with the aim to get more people protected against the coronavirus. The Ministry of Manpower (MOM) told The Straits Times that it is reviewing an advisory issued last month, which states that employers may make vaccination a requirement for staff in higher-risk settings.

Singapore to trial allowing fully vaccinated Covid-19 patients to isolate at home instead
Fully vaccinated Covid-19 patients without severe symptoms may be allowed to isolate at home starting Aug 30 as Singapore takes steps to living with the endemic disease. These patients will spend the first few days in a medical facility before moving to home isolation.

Singapore to recognise approved overseas vaccinations for all travellers; kids below 12 to be vaccinated from early 2022
Singapore is streamlining its recognition of overseas Covid-19 vaccines, including for short-term visitors, foreign workers and students, and returning Singapore residents. Meanwhile, the national expert committee on Covid-19 vaccination will soon release recommendations on a third booster dose for those with severely weaker immune responses, the Ministry of Health (MOH) said in an update on Thursday.

Booster vaccine shots being studied by expert committee
Booster shots of the Covid-19 vaccine are being studied, while a third dose is being considered for those who have severely compromised immune systems, said the multi-ministry task force on Covid-19 yesterday.

S’pore reopening borders to avoid lasting damage to air hub: Iswaran
Singapore is moving to reopen its borders as the longer the country remains closed, the greater the risk of lasting damage to its economy and its status as an aviation hub, said Transport Minister S. Iswaran.

S’pore to classify countries, regions into 4 categories based on risk, with differentiated border measures for each
Singapore – Singapore will classify countries and regions into four categories, with differentiated border measures for each category. The Ministry of Health (MOH) on Thursday (Aug 19) said the higher vaccination rates among the population provide a foundation for the country to introduce vaccination-differentiated border measures for travellers.

Singapore to start vaccinated travel lanes with Germany and Brunei from Sept 8
With over three-quarters of the population fully vaccinated, Singapore is cautiously moving to re-open borders through the introduction of vaccinated travel lanes (VTL) with two countries next month as a starting point.

Inoculated travellers to enjoy differentiated measures as well
Travellers to the Republic who have been fully inoculated with a vaccine on the World Health Organisation’s (WHO) Emergency Use Listing will also be eligible for vaccination-differentiated safe management measures in Singapore.

Singapore-Hong Kong travel bubble spiked
Singapore and Hong Kong will no longer launch the long-delayed travel bubble for quarantine-free travel between the two cities. “Both sides are focused on keeping our populations safe and minimising the risk of imported cases.

Pick up free surgical, N95 masks from over 130 collection points
Singapore residents can collect free masks at 15 CapitaLand malls and selected Sheng Siong, Prime Supermarket, Cold Storage, FairPrice Xtra and Giant outlets from Aug 26 to Sept 26. These are among the more than 130 collection points islandwide where the masks will be available…

*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 weekly jobless claims decline to 17-month low

Housing hunt turns desperate with record rise in US rents

Minutes reveal US Federal Reserve split over job market and bond-buying taper

German economy on track for stronger growth in Q3: ministry

Delta outbreak exposes low vaccination rate in New Zealand

Australia’s red-hot housing to heat up even more, worsening affordability: poll

Australia records worst pandemic day amid Delta outbreak

Alibaba sinks to record low in Hong Kong as China widens crackdown

Tencent says more regulations set to come for industry

Family feud wipes US$2b from market value of China meat giant

Japan’s July core consumer prices fall, Covid-19 clouds outlook


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