The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 18 Apr 2023 (Tue)

Singapore Real Estate


Demand for new private homes likely to remain ‘robust’, say analysts as sales rise 13.6% in March
Singapore: Sales of new private homes in Singapore rose for a third consecutive month in March, with property analysts predicting that demand will likely remain “robust”. Excluding executive condominiums (ECs), developers sold 492 units in March – a 13.6 per cent increase from the 433 units sold in February, according to figures released by the Urban Redevelopment Authority (URA) on Monday (Apr 17).


The rationale and risks of owning 1 per cent in a Singapore private home
Institutional investors and corporates typically invest substantial resources to ensure their tax structures are efficient and robust when executing multi-million dollar property deals. Achieving tax savings can materially impact the return on investment of these big ticket deals.


Brand new detached home in Pasir Ris sold at $8.4 mil by Sevens Group
Sevens Group continues to build upon its reputation as a leading landed developer in the east with one of its latest transactions – the sale of a new detached home at Pasir Ris Way for $8.4 million or $1,939 psf on the land area.



Singapore Economy


Economic growth ‘non-negotiable’ for Singapore, even with shifts in social compact: DPM Wong
Economic growth is “non-negotiable” and Singapore’s government will always be pro-growth and pro-inclusivity, even as the country embarks on key shifts as part of its new social compact, Deputy Prime Minister Lawrence Wong said on Monday (Apr 17).


Helping jobless workers, professionalising blue-collar jobs among Government’s plans to build stronger society: DPM Wong
Singapore — Introducing a re-employment scheme to help displaced workers make ends meet, professionalising blue-collar jobs and revamping the SkillsFuture programme are some of the initiatives that the Government will act on as part of its new approach towards social support and skills training.


Higher taxes for the rich, mandatory preschool attendance among MPs’ proposals to close gaps in society
Singapore — Higher taxes on the rich for their cars and property were among some suggestions proposed by Members of Parliament (MPs) to protect meritocracy and level the playing field in Singapore for people to achieve their goals.


Singapore’s exports to remain weak as March data marks half year of contraction: economists
Singapore’s key exports are expected to record further weakness in the months ahead, after declining for the sixth consecutive month in March, on the back of challenging global economic conditions, economists said.



Companies’ Brief


DBS reinstates coverage on Keppel Corp, the ‘undervalued gem’
DBS Group Research has reinstated coverage on Keppel Corp with a “buy” call and bullish target price of $8.30, up some 40% from current levels. “Keppel Corp offers investors a unique and unrivalled proposition as a global asset manager with developer and operator capabilities in real estate and green industrial space,” writes analyst Ho Pei Hwa in her April; 16 note.


KIT to raise $240 mil via private placement and preferential offering
Keppel Infrastructure Trust (KIT) is seeking to raise $240 million via a private placement and preferential offering. Its unitholders had approved the resolutions to issue new units in KIT via these means at the trust’s extraordinary general meeting (EGM) on April 17.


With an eye on narrowing discount gap, Citi raises UOL target price to $9.08
Citigroup analyst Brandon Lee has kept his “buy” call on UOL Group but with a raised target price of $9.08 from $8.43, on prospects that the valuation gap between the current price and RNAV can narrow.



Views, Reviews, Forum and Others


Work-from-home arrangement among measures some firms are taking amid Singapore’s COVID-19 wave
Singapore: Amid Singapore’s COVID-19 wave, some companies have been taking additional precautions such as encouraging employees to work from home. Public relations firm Tate Anzur, for instance, decided to implement a


Improving your living environment: 4 other HDB upgrading programmes to know
Singapore – Since the implementation of the Lift Upgrading Programme in 2001, the Housing Board has rolled out a number of initiatives to improve and rejuvenate HDB flats and estates. The latest initiative is the Facade Enhancement Programme launched in March…



Global Economy & Real Estate


US homebuilder sentiment improves for fourth straight month: NAHB

As shadow lenders prep for real estate push, offices are in focus

European Central Bank to lift deposit rate to 3.75% peak in July, survey shows

Asian markets cautious ahead of China’s economic growth data

China Q1 GDP grew 4.5% y/y, above expectations

China property crash would cap growth at 3%: Bloomberg Economics

Hong Kong official vows developments under Northern Metropolis scheme, artificial islands off Lantau will be sustainable

Hong Kong pension regulator MPFA moving to a smaller office at The Millennity in Kwun Tong

Hong Kong’s CK Hutchison aims to raise at least US$1 billion in US dollar bond deal: sources

BOJ forecasts FY2025 CPI to rise 1.6-1.9%

Japan hotels draw foreign investors at scale unseen in years

Philippines’ Davao City upgrading airport, tourism facilities in bid to draw more visitors, particularly from S’pore


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