The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 28 July 2021 (Wed)

Singapore Real Estate

Developers could relook pricing after Pasir Ris 8 sells units at up to S$2,000 psf
The multiple price revisions for the newly launched Pasir Ris 8, which irked some prospective buyers over the weekend, could adjust expectations for suburban residential projects, especially when other developers relook at their own pricing, analysts say.

Property auction success rate trending upwards: Knight Frank
Singapore’s property auction market saw 200 listings in Q2 2021, marginally down 0.5 per cent or one less listing than that of the previous quarter, even amid heightened restrictions during parts of May and June.


Singapore Economy

Post-pandemic, Singapore must work hard to keep its edge as industries evolve
Even as he rounded up a debate on additional near-term Covid-19 support, Finance Minister Lawrence Wong looked to the future, noting opportunities in areas such as aerospace and sustainability. “As we transition to this new normal…

Firms not in eligible categories may appeal for JSS; 6,000 firms have benefited from this route
Business that do not strictly qualify for the enhanced Jobs Support Scheme (JSS) payouts but are affected by pandemic measures – such as suppliers to food and beverage outlets – may appeal to receive it, said Finance Minister Lawrence Wong in Parliament on Tuesday.

Singapore counts on three-pronged strategy to grow manufacturing sector by 50% by 2030
Singapore has a three-pronged strategy to help achieve the goal of growing the country’s manufacturing sector by 50 per cent by 2030. Marvin Lee, vice-president for semiconductors at the Singapore Economic Development Board (EDB), outlined the three key areas…


Companies’ Brief

Keppel Capital secures $815m for global infrastructure projects
Keppel Capital, the asset management arm of Keppel Corp, has secured an aggregate of US$600 million (S$815 million) in separate managed accounts (SMAs) from international financial institutions. The SMAs focus on global infrastructure projects with “long-term utility-like contracted cash flows”, the firm said yesterday.

KTL Global to acquire Tuas industrial property for S$6m as it expands into distribution
KTL Global has entered into a non-binding memorandum of understanding with Warehouse Logistics Net Asia to acquire an industrial property at Tuas for S$6 million as the company diversifies into the distribution business.

Two of Oxley’s residential projects obtain TOP
Real estate developer Oxley Holdings on Tuesday announced that it obtained temporary occupation permits (TOP) for two more Singapore residential development projects, Sea Pavilion Residences and Sixteen35 Residences, last month.

Keppel Reit posts H1 DPU of 2.94 cents, up 5%
Keppel Reit Keppel Reit: K71U 0% on Tuesday reported a distribution per unit (DPU) of 2.94 Singapore cents for the first-half ended June 30, up 5 per cent from 2.8 cents a year ago. DPU comprised 2 cents, which will be paid on Aug 27, and advanced DPU of 0.94 cent that was paid on March 31 in connection with the private placement that was launched on Feb 18.

Parkway Life Reit posts 0.7% rise in Q2 DPU to 3.38 S cents
Parkway Life Real Estate Investment Trust (Parkway Life Reit ParkwayLife Reit: C2PU -0.64% ) on Tuesday posted a 0.7 per cent rise in distribution per unit (DPU) to 3.38 Singapore cents for the second quarter ended June 30, 2021, from 3.36 cents the year before.

Corporate digest


Views, Reviews, Forum & Others

G-7’s B3W: Impacts on Singapore’s asset owners and insurers
One of the big takeaways from the G-7 meeting in June – the group of the seven largest so-called advanced economies – was broad agreement on plans to set up an alternative to China’s Belt and Road Initiative (BRI). The BRI is a global infrastructure development strategy adopted by the Chinese government in 2013…

A roadmap to resilience – and feeding the starved travel bug
The roadmap towards a “Covid-resilient” Singapore, sketched out in Parliament on Monday, provided reassurance tempered with caution: from a reiteration of the new focus on health outcomes rather than daily case numbers, to warnings that future variants might necessitate booster shots and even tightened measures.

Green finance in Asia: Emerging themes and the need for innovation
As global action towards achieving carbon neutrality gains momentum, Singapore has taken on the mantle to become the regional green finance hub. With the Monetary Authority of Singapore (MAS) leading the charge through the Green Finance Action Plan…

Technology is the cushion against supply chain foul-ups
In today’s globalised economy, supply chains can be likened to the lifeblood that keeps our world pumping. However, recent disruptions raise worries about whether this vital supply chain network is robust and agile enough to cope with the world’s rapidly growing needs.

Economic Affairs: Building a bigger digital red dot
Amid the economic wreckage caused by Covid-19, one of the bright spots for Singapore has been the information and communications sector, which grew by 4.8 per cent last year even as the overall economy contracted by 5.4 per cent.

Clear, calibrated moves to a new normal
As Parliament heard on Monday, Singapore has a strategy to synchronise its reopening with its vaccination coverage – not just of the overall population, but of seniors who are the most vulnerable to the effects of Covid-19. The strategy will be put in place through a series of controlled steps.

Family offices rethink how they can create social impact
The Covid-19 pandemic that roiled the world was a wake-up call for even the ultra-rich, as it exposed societal fault lines and vulnerabilities that shone a spotlight on the role that they can – and ought to – play in driving positive social change.

Govt pushing out support for firms as fast as it can, says minister
Firms’ concerns over the disbursement of relief have been heard and the Government is working to push out support as fast as it can, Finance Minister Lawrence Wong said yesterday. In his round-up speech after a parliamentary debate on additional support measures…

MPs suggest ways to provide more timely, direct relief
A fund or programme dedicated to Covid-19-related economic support could allow the Government to provide timely and direct relief to small businesses, workers and freelancers affected by sudden pandemic-related measures.

Tax hikes will take into account fiscal needs, economy: Minister
In deciding the timing of any increase to tax rates, including the goods and services tax (GST), the Government will take into account Singapore’s fiscal needs as well as the prevailing economic conditions, said Finance Minister Lawrence Wong yesterday.

The coming infrastructure boom
Most of us take our public amenities for granted – from clean tap water, high-functioning electricity and Internet connections, to roads and bridges. These amenities – economists call them infrastructure – are critical for the economic and social development of the world.

Strategic asset allocation, or: How I learnt to stop worrying and love the dispersion
For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90 per cent of performance is rapidly becoming outdated.

Update on COVID-19 (Coronavirus Disease 2019) Situation

136 new locally transmitted Covid-19 cases; 36 linked to Jurong Fishery Port
[Singapore] There were 136 new locally transmitted coronavirus cases on Tuesday (July 27), including 36 cases connected to the growing cluster linked to Jurong Fishery Port. This brings the total number of cases there to 894. There were also two new cases linked to the KTV cluster, taking its total to 245 cases.

New clusters involving Punggol Primary cleaner, Westlite Juniper dorm
Four new Covid-19 clusters have surfaced, one of which has four cases and involves a Punggol Primary School cleaner, and another at Westlite Juniper Dormitory with nine cases.The other two new active clusters are linked to individual cases, each having three cases linked to it, the Ministry of Health (MOH) said yesterday.

Decision to tighten measures was right judgment call: Minister
The Covid-19 situation today would have been much worse if the authorities did not impose tighter restrictions in the wake of the Jurong Fishery Port cluster, Finance Minister Lawrence Wong said yesterday. Responding to a barrage of questions and comments from MPs on the move back to phase two (heightened alert) last week, he said he was “fully convinced” it was the right judgment call.

Vacant Pasir Panjang site eyed as interim facility
The former Pasir Panjang Distripark has been identified as a possible alternative temporary distribution site in the event of disruption to Singapore’s food supply chain. Announcing this during a visit to the now-vacant premises at 151 Pasir Panjang Road yesterday…

*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 consumer confidence up for sixth month

US home prices rose in April at fastest pace in 16 years

IMF sees 6% world growth, warns developing nations falling behind

China’s industrial profit growth slows in June on high raw material prices

Evergrande opts not to declare special dividend in surprise move

Is Chinese bailout for Evergrande on the cards?

GIC to buy stake in Starbucks Coffee Korea

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