DAILY NEWS

Daily News – 26 May 2022 (Thu)

Singapore Real Estate

Singapore retail rents and inflation moving in tandem may put retailers in a bind
Some retail businesses, including those selling recreational goods and furniture, are likely to be hit harder by rising rents coupled with inflationary pressures in Singapore, an analysis by the Institute of Real Estate and Urban Studies (IREUS) suggests.
https://www.businesstimes.com.sg/real-estate/singapore-retail-rents-and-inflation-moving-in-tandem-may-put-retailers-in-a-bind

5 BTO projects – including 2 under prime location model – will be launched on May 27
5 Build-To-Order (BTO) projects will be launched on Friday (May 27), including two under the prime location housing model. Applications for the flats close on June 2, said National Development Minister Desmond Lee said on Wednesday (May 25).
https://www.businesstimes.com.sg/real-estate/5-bto-projects-including-2-under-prime-location-model-will-be-launched-on-may-27
https://www.straitstimes.com/singapore/housing/5-bto-projects-including-2-under-prime-location-model-will-be-launched-on-may-27

58 BTO projects delayed by at least 6 months this year, down from 74 in 2021: Desmond Lee
The number of Build-To-Order (BTO) projects delayed by six months or longer has dropped to 58 this year from 74 in 2021, said National Development Minister Desmond Lee on Wednesday (May 25).
https://www.straitstimes.com/singapore/housing/bto-projects-delayed-by-6-months-or-longer-reduced-from-74-last-year-to-58-this-year-desmond-lee

Singapore Economy

Singapore’s full-year growth will depend on how well manufacturing holds up: analysts
The direction of Covid-19 policy in China has emerged as a key downside risk to Singapore’s economic outlook, as the Ministry of Trade and Industry (MTI) on Wednesday (May 25) warned that external demand looks weaker now than it did 3 months ago.
https://www.businesstimes.com.sg/government-economy/singapores-full-year-growth-will-depend-on-how-well-manufacturing-holds-up

External headwinds weigh on Singapore’s export growth despite forecast upgrade: economists
Downside risks are likely to continue weighing on Singapore’s export performance in the months ahead, even though the authorities on Wednesday (May 25) significantly upgraded their full-year trade forecast, said economists.
https://www.businesstimes.com.sg/government-economy/external-headwinds-weigh-on-singapores-export-growth-despite-forecast-upgrade

Singapore services export recovery lagged goods trade rebound as border closures hit travel
Singapore’s services export recovery is trailing the rebound in merchandise shipments, as the travel segment has yet to return to pre-pandemic levels, data out on Wednesday (May 25) showed. That’s as the Covid-19 pandemic prompted a worse drop in services trade than during the earlier global financial crisis and the severe acute respiratory syndrome (Sars) outbreak.
https://www.businesstimes.com.sg/government-economy/singapore-services-export-recovery-lagged-goods-trade-rebound-as-border-closures
https://www.straitstimes.com/business/economy/spore-services-exports-to-continue-growth-in-2022-amid-fewer-border-restrictions-higher-demand

Fight against inflation may need additional fiscal support on top of monetary policy tightening: Analysts
Supply chain disruptions caused by the Ukraine war and Covid-19 lockdowns in China may continue to fuel inflation that threatens to squeeze consumer wallets and cut business spending, analysts said.
https://www.straitstimes.com/business/economy/analysts-say-fight-against-inflation-may-need-additional-fiscal-support-on-top-of-monetary-policy-tightening

Companies’ Brief

SingLand gets URA provisional nod to redevelop Clifford Centre in Raffles Place
Clifford Centre, an ageing office and retail property in Raffles Place that once housed the Stock Exchange of Singapore, Bank of America and the Robinson’s Downtown Store, is headed for a redevelopment.
https://www.businesstimes.com.sg/real-estate/singland-gets-ura-provisional-nod-to-redevelop-clifford-centre-in-raffles-place

Wing Tai bags Lakeside Apartments for S$273.9m, above reserve price
The wholly-owned subsidiary of Wing Tai Holdings, Winville Investment, has won the tender for the collective purchase of Lakeside Apartments at some S$273.9 million, representing a 14 per cent premium to the S$240 million reserve price.
https://www.businesstimes.com.sg/companies-markets/wing-tai-bags-lakeside-apartments-for-s2739m-above-reserve-price

Chinese developers still active but more cautious in Singapore, weaker yuan may be a boon
Chinese developers are still active, albeit more cautious, in Singapore’s property development market, with the weaker yuan against the Singapore dollar a boon when it comes to importing cheaper building materials from the mainland.
https://www.businesstimes.com.sg/global-enterprise/chinese-developers-still-active-but-more-cautious-in-singapore-weaker-yuan-may-be

Singapore-listed US office Reits upbeat on outlook despite resistance in return to office
It is business as usual in the United States, as the world’s largest economy brushes off concerns over the Covid-19 pandemic. But even as the crowds return – mostly without masks – to the streets and shopping malls, Singapore-listed real estate investment trusts (S-Reits) focused on the US office market are facing a worrisome trend: employees are returning physically to the office more slowly than expected.
https://www.businesstimes.com.sg/companies-markets/singapore-listed-us-office-reits-upbeat-on-outlook-despite-resistance-in-return-to

Views, Reviews, Forum and Others

SMEs spurring Singapore’s green transition
Small and medium-sized enterprises (SMEs), which account for 99 per cent of enterprises in Singapore and employ 72 per cent of workers, have long played a central role in the country’s economic transformation. Their agility, nimbleness and creativity enable them to significantly advance innovation and build resilience in the economy.
https://www.businesstimes.com.sg/sme/smes-spurring-singapores-green-transition

More Singapore property developers expect prices of new launches to go up: Survey
Home buyers may have to brace themselves for more expensive private homes from new launches as about 71 per cent of developers expect their unit prices in the next six months to be moderately or substantially higher, the results of a poll revealed.
https://www.businesstimes.com.sg/real-estate/more-singapore-developers-looking-to-hike-condo-launch-prices
https://www.straitstimes.com/business/property/more-singapore-property-developers-expect-prices-of-new-launches-to-go-up-survey