The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 21 May 2021 (Fri)

Singapore Real Estate

Samsung Hub’s level 9 sells at record S$4,050 psf
The ninth floor of Samsung Hub is being transacted for nearly S$53.1 million or S$4,050 per square foot (psf) on a strata area of 13,110 sq ft. This is a record psf price for an office floor in the 999-year leasehold building in the Raffles Place financial district, surpassing the previous record of S$3,800 psf in February last year for the 11th floor.

Singapore retail landlords dish out marketing support for F&B tenants
Among the latest restrictions which will be in place till June 13, dining out has been banned. In this period, F&B operators are to receive increased wage support under the Jobs Support Scheme (JSS). The government will raise its wage support for food and beverage (F&B) establishments to 50 per cent from 10 per cent.

The future of living: Luxury smart homes, resort-style spaces and accessibility converge at this prime Tanjong Pagar address
Very few things beat living in a prime location with a rich cultural heritage and an exciting future. Unless of course, the property also comes with strong attributes that lift up the standards of living yet another notch.

JTC, Chinese firm sign MOU to create cost management system for construction projects
JTC Corporation and Glodon, a construction software company from China, have signed a memorandum of understanding (MOU) to drive collaboration and develop a cost management system for construction projects.


Singapore Economy

Shangri-La Dialogue cancelled amid Covid-19 uncertainties
This year’s Shangri-La Dialogue that was due to take place in Singapore on June 4-5 is cancelled “in light of the deteriorating global Covid-19 situation”, said organiser International Institute for Strategic Studies (IISS) on Thursday.

S’pore’s challenge is to avoid economic scarring: Heng
As the Covid-19 pandemic continues to rage, the immediate challenge for countries, including Singapore, is to avoid economic scarring, said Deputy Prime Minister Heng Swee Keat. They must also be mentally prepared for a long and uncertain battle against the virus.

S’pore and Asia can take steps to emerge stronger from Covid-19, says DPM Heng
Even as the authorities take immediate steps to avoid economic scarring, businesses and workers must gear up for accelerated changes – such as those involving digitalisation and sustainability – brought about by the pandemic, Deputy Prime Minister Heng Swee Keat said yesterday.


Companies’ Brief

Keppel Land prices S$280m of 2% notes due 2026
Keppel Land, a wholly-owned subsidiary of Keppel Corporation, has priced S$280 million of 2 per cent notes due 2026, issued under its US$3 billion multi-currency medium-term note programme. The notes will be issued at a price of 100 per cent of the principal amount and in denominations of S$250,000…

MIT proposes US$1.32b acquisition of 29 data centres in the US
Mapletree Industrial Trust’s (MIT) manager on Thursday proposed a US$1.32 billion acquisition of 29 data centres in the US. The trust also announced an equity fundraising exercise to raise S$800 million through a private placement and preferential offering.


Views, Reviews, Forum & Others

The virus mutates fast, we must adapt our behaviour just as fast
Living with a global pandemic for over a year has forced many people all over the world to learn coping mechanisms to keep themselves and their families safe, while carrying on with work and life. New habits have been ingrained, and many aspects of pandemic living have become familiar.

An ambitious, challenging future agenda
As the coronavirus pandemic rages on, it has become increasingly clear that the post-Covid-19 world will not return to business as usual. The looming “new abnormal” has underlined the need to chart a different course for the Singapore economy going forward.

South-east Asia needs tangible socio-economic drivers to speed up green transition: experts
South-east Asia (SEA) is making steady but slow progress in its green energy transition, and stronger impetus in the form of socio-economic benefits and new job opportunities are needed to accelerate the shift to lower carbon economies, climate and energy policy experts say.

Update on COVID-19 (Coronavirus Disease 2019) Situation

41 new Covid-19 cases in Singapore, including 27 in community
[Singapore] There were 41 new Covid-19 cases, including 27 in the community, as at noon on Thursday (May 20), said the Ministry of Health (MOH). Of the community cases, six are currently unlinked. The remaining 21 are linked to previous cases. Among them, 15 had already been quarantined.

Residents of Hougang block to be tested for Covid-19
All residents of Block 506 Hougang Avenue 8 will have to be tested for Covid-19 as a precaution, after a few cases were found to be living there. The Ministry of Health (MOH) yesterday said the mandatory testing operation will be conducted at the void deck of the block today and tomorrow,

Man, 70, linked to TTSH cluster dies from Covid-19 complications
A 70-year-old Singaporean man linked to the Tan Tock Seng Hospital (TTSH) cluster here has died from complications related to Covid-19, bringing the total number of deaths here to 32. The Health Ministry said yes-terday that the man had been hospitalised in TTSH Ward 9D on April 22.

75 unlinked Covid-19 cases in S’pore in past 2 weeks raising concerns
Singapore – The number of unlinked Covid-19 cases in Singapore has been going up steadily this month, giving rise to concerns that there are undetected reservoirs of infections in the community.  There were 75 unlinked local Covid-19 cases reported from May 7 to May 20 (Thursday)…

37 students from 25 schools in S’pore infected in May so far
Singapore – A total of 37 students from 25 schools have been infected with Covid-19 this month, including six new cases reported on Thursday (May 20). This includes 15 cases linked to a cluster at the Learning Point tuition centre and another 11 to one at Changi Airport Terminal 3.

2,000 more students, staff from S’pore Poly to be tested after 4th case
A further 2,000 students and staff from Singapore Polytechnic’s School of Chemical and Life Sciences (CLS) will be tested for Covid-19 after a fourth student tested positive for the virus. The second-year student from CLS tested positive on Wednesday, a spokesman for the polytechnic said last night.

ACS (Junior) pupil tests positive; all classmates quarantined
A Primary 6 pupil from Anglo-Chinese School (Junior) has tested positive for Covid-19. Classmates of the pupil will be quarantined as they have been in close contact with the boy, The Straits Times has learnt. The boy, a close contact of a confirmed case outside of the school, was last on the premises on Monday and was well.

Alexandra Hospital ward bars visitors after staff virus case
Visitors will be barred from a ward in Alexandra Hospital until further notice after an employee tested positive for Covid-19. She was among the four unlinked cases reported by the Ministry of Health on Wednesday.

Surge in buying of face masks in Singapore continues; some manufacturers plan to lower prices
A surge in demand for face masks in Singapore, following the authorities’ call on Tuesday for people to use masks with better filtration capabilities, is still going strong, according to some retailers. Members of the public are now encouraged to use either surgical masks or reusable masks with at
least two layers of fabric, rather than simple cloth coverings.

Brunei temporarily suspends reciprocal green lane with S’pore
Brunei has temporarily suspended its reciprocal green lane arrangement with Singapore from 7pm yesterday until further notice. Travellers who had already been approved to enter Brunei under the arrangement could continue to do so until the 7pm cut-off time, the kingdom’s Prime Minister’s Office said in a statement on Wednesday.

Online platforms comply with Pofma direction over ‘S’pore variant’ claims
Facebook, Twitter and Singapore Press Holdings (SPH) said yesterday that they had complied with a correction direction under Singapore’s fake news law and put up notices on their platforms for their users in Singapore.

*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 applications for home mortgages tick up

Bitcoin struggles for footing on worries over China and leverage

Blackstone agrees to buy UK-based St Modwen Properties for £1.2 billion

Dream Industrial wins auction to buy assets in European warehouse fund

Swedish house prices soar at fastest pace ever

Fed hints of talk about slowing bond-buying

Some vaccines help nations exit pandemic faster than others

China’s regulatory tightening pains and gains

South Korea to run mix-and-match trial of Covid-19 vaccines

Amid rising ESG pressure, Malaysia prepares oil and gas firms for green economy

Malaysia’s business groups fear full lockdown will be devastating


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