DAILY NEWS

Daily News – 26 Dec 2019

Singapore Real Estate

Conserving historic Singapore buildings raises value of nearby homes, but could also cause gentrification: Study
Singapore — When a historic building is marked for conservation in Singapore, nearby private homes generally receive a sizeable boost in their property values, a new study has found. This is even though the conserved property itself is subject to guidelines to preserve the heritage of the building, which could potentially decrease its market value since these rules restrict its development while raising maintenance costs.
https://www.todayonline.com/singapore/conserving-historic-singapore-buildings-raises-value-nearby-homes-could-also-cause

Singapore Economy

A more upbeat scenario for Singapore job market
The job market for 2019 has turned out to be better than predicted – and many private-sector economists and recruiters are looking at stepped-up hiring in the year ahead, with real salary hikes for 2020 expected to surpass this year’s. At this time last year, economists and recruiters had forecast weaker job creation for 2019. The Ministry of Manpower’s (MOM) latest data, however, shows otherwise.
https://www.businesstimes.com.sg/government-economy/a-more-upbeat-scenario-for-singapore-job-market

Companies’ Brief

SingHaiyi boss: Property leaves a legacy
For entrepreneur and property veteran Celine Tang, the backbone of any piece of real estate doesn’t lie in its brick-and-mortar structure – instead, the human connections created and nurtured within its walls are what constitute the foundation. “For me, property is all about constructing something that will span generations,” said Ms Tang, the managing director of SGX-listed real estate developer SingHaiyi Group.
https://www.businesstimes.com.sg/companies-markets/singhaiyi-boss-property-leaves-a-legacy

Developer sues Parkson Retail Asia unit for alleged failure to pay rent
Property developer PKNS-Andaman Development Sdn Bhd has served Parkson Corporation Sdn Bhd (PCSB), a subsidiary of Parkson Retail Asia, with a writ and statement of claim in relation to premises let to PCSB within EVO shopping mall in Malaysia. In a regulatory filing on Thursday, PKNS alleged that PCSB has failed to observe its obligation to pay rental for the premises, according to the tenancy agreement…
https://www.businesstimes.com.sg/companies-markets/developer-sues-parkson-retail-asia-unit-for-alleged-failure-to-pay-rent