Singapore Real Estate
JBE’s The Commodore sells over 70% of units on launch weekend
The Commodore, a condominium development in Canberra, Sembawang, has sold 162 – or over 70 per cent – of its 219 units, as at 6 pm on Saturday (Nov 27) during its launch weekend. The 99-year leasehold development by JBE Holdings consists of 6 5-storey blocks, with unit sizes ranging from 1 to 5 bedrooms, including 4 penthouses, of 4-to-5 bedrooms, with private lifts…
https://www.businesstimes.com.sg/real-estate/jbes-the-commodore-sells-over-70-of-units-on-launch-weekend
Singapore Economy
Singapore factory output to stay positive – but electronics slowdown may kick in soon
Singapore’s industrial output bounced back in October from the drop the month before, and is expected to stay positive in 2022 – but factory growth will be slower from here as electronics cools from its breakneck pace, economists have warned.
https://www.businesstimes.com.sg/government-economy/singapore-factory-output-to-stay-positive-but-electronics-slowdown-may-kick-in-0
https://www.straitstimes.com/business/economy/singapore-factory-output-rises-169-in-october-as-pharmaceuticals-rebound
Singapore services sector sees revenue rise 16% in Q3
Singapore – The services sector saw business receipts rise 16 per cent year on year in the third quarter of 2021, with the sole exception of the recreation and personal services industry.
https://www.straitstimes.com/business/singapore-service-sector-revenue-up-16-per-cent-in-3rd-quarter
Asia, Europe well-positioned as partners to build up resilience, overcome Covid-19 impact: PM Lee
As the world learns to live with Covid-19, it must first build the resilience to overcome the grave social and economic impact wrought by the pandemic thus far. And this is a task that Asian and European countries, in partnership, are well-positioned to take on, said Prime Minister (PM) Lee Hsien Loong on Friday (Nov 26).
https://www.businesstimes.com.sg/government-economy/asia-europe-well-positioned-as-partners-to-build-up-resilience-overcome-covid-19
https://www.straitstimes.com/singapore/politics/asia-europe-well-positioned-as-partners-to-build-up-resilience-overcome-covid-19
Singapore tracking Omicron Covid-19 variant closely, may be forced to take steps back: PM Lee
Singapore – Singapore is watching the new coronavirus variant Omicron closely and may be forced to roll back the easing up of safety measures as it moves forward to tackle the disease, said Prime Minister Lee Hsien Loong on Sunday (Nov 28).
https://www.straitstimes.com/singapore/pap-conference-spore-tracking-omicron-covid-19-variant-closely-may-well-be-forced-to-roll
https://www.businesstimes.com.sg/government-economy/omicron-variant-may-force-singapore-to-roll-back-easing-of-covid-safety-measures
Companies’ Brief
Frasers Property proposes tie-up with JV partner involving investment, bridging loan
Frasers Property, through its wholly-owned subsidiary Suzhou Sing He Xiang Management Consultancy (SHX), on Thursday (Nov 25) entered into a framework agreement with an unnamed joint-venture (JV) partner and its related entity to participate in a potential investment in land.
https://www.businesstimes.com.sg/companies-markets/frasers-property-proposes-tie-up-with-jv-partner-involving-investment-bridging
Views, Reviews, Forum & Others
Enduring security or transient shelter?
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)
Home ownership is a long-term investment and a major financial commitment for many. Given land scarcity in Singapore and its economic development and position as a global financial and business hub, millennials (and Gen Z) in Singapore have to consider carefully their financial planning and capability/constraints, as well as their current and expected future circumstances when deciding to buy or rent a home.
https://www.businesstimes.com.sg/views-from-the-top/enduring-security-or-transient-shelter
The outlook may seem bleak, but optimism and meaning abound
Just as it seemed that the worst of Covid-19 was behind us, with global vaccination coverage rising, borders reopening and international air travel picking up, a spike in cases in Europe and the new Omicron variant of the coronavirus detected in southern Africa have sparked global alarm.
https://www.straitstimes.com/opinion/the-outlook-may-seem-bleak-but-optimism-and-meaning-abound
Holiday season, supply chain issues bolstering demand for warehousing
As the festive season approaches, demand for warehousing and storage space is picking up, with some operators expecting to reap a bump in revenue. Aside from the usual demand that comes with the year-end period, supply chain woes arising from the pandemic and construction delays for homes are also fuelling the need for space.
https://www.businesstimes.com.sg/companies-markets/holiday-season-supply-chain-issues-bolstering-demand-for-warehousing
What does COP26 mean for climate change investors – and what’s next?
The outcome of the 26th United Nations Climate Change Conference (COP26) came as a disappointment to some, given how critical climate issues are and the urgency of action within the coming decade. Overall, we do not see COP26 as being particularly game-changing from an investment point of view.
https://www.businesstimes.com.sg/wealth-investing/what-does-cop26-mean-for-climate-change-investors-and-whats-next
Update on COVID-19 (Coronavirus Disease 2019) Situation
Daily tally under 1,000 for first time since Sept 20 with 747 new Covid-19 cases; 11 more deaths reported
[Singapore] New Covid-19 infections stood at 747 cases on Sunday (Nov 28), down from 1,761 on Saturday and falling below the 1,000 mark for the first time since Sept 20. The Covid-19 weekly infection growth rate was at 0.69, down from 0.75 on Saturday, said the Ministry of Health (MOH) in its daily update.
https://www.businesstimes.com.sg/government-economy/daily-tally-under-1000-for-first-time-since-sept-20-with-747-new-covid-19-cases
https://www.straitstimes.com/singapore/health/daily-tally-under-1000-for-first-time-since-sept-20-with-747-new-covid-19-cases-11
What do we know about the new Covid-19 variant from South Africa with ‘unusual’ mutations?
[Singapore] A new, heavily-mutated variant of Covid-19 has been detected in South Africa, with concerns raised over the variant’s transmissibility and ability to evade vaccines. The Straits Times sets out what is known so far.
https://www.businesstimes.com.sg/government-economy/what-do-we-know-about-the-new-covid-19-variant-from-south-africa-with-unusual
https://www.straitstimes.com/singapore/health/what-do-we-know-about-the-new-covid-19-variant-from-south-africa-with-unusual
More information about Omicron needed before S’pore decides if Covid-19 rules should change: Experts
Singapore – The new coronavirus variant Omicron has put the world in a state of high alert, but two experts The Straits Times spoke to on Saturday (Nov 27) say more information is needed to determine if current pandemic protocols should change.
https://www.straitstimes.com/singapore/environment/more-information-about-omicron-needed-to-decide-if-covid-19-protocols-need-to
New Covid-19 variant Omicron may be of concern, but how big a threat it will be is unknown: Experts
Singapore – It is too early to tell if the new B.1.1.529 strain of the coronavirus that causes Covid-19, which has been classified a variant of concern (VOC) and named Omicron, will pose a real threat, said experts – but the world is taking its emergence seriously.
https://www.straitstimes.com/singapore/health/new-covid-19-variant-may-be-of-concern-but-how-big-a-threat-it-will-be-is-unknown
Urgent work needs to be done to understand new Covid-19 variant Omicron: NCID
Singapore – A lot of urgent work needs to be done to further understand the new coronavirus variant Omicron, said the National Centre for Infectious Diseases (NCID) on Sunday (Nov 28). It added that although Omicron emerged recently, the variant should still be detected on a polymerase chain reaction (PCR) test.
https://www.straitstimes.com/singapore/health/urgent-work-needs-to-be-done-to-understand-new-omicron-variant-ncid
S’pore tightens border measures for travellers from 6 European countries from Dec 1
Singapore – Travellers from six European countries will have to serve a 10-day stay-home notice (SHN) from Dec 1, as the Covid-19 situation is worsening in these countries, said the Ministry of Health (MOH) on Friday (Nov 26).
https://www.straitstimes.com/singapore/spore-tightens-border-measures-for-travellers-from-6-european-countries-from-dec-1
S’pore bans travellers from 7 African countries; no cases of new Covid-19 variant here
Singapore – New restrictions have been placed on travellers from several African countries by the Ministry of Health (MOH) amid reports of a potentially more contagious variant of the Covid-19 virus circulating in that region.
https://www.straitstimes.com/singapore/spore-tightens-border-measures-for-travellers-from-7-african-countries-no-cases-of-new
https://www.businesstimes.com.sg/government-economy/singapore-defers-vtl-with-qatar-saudi-arabia-uae-amid-fears-of-omicron-variant
Singapore adds 6 countries to its VTL scheme, raises traveller quota to 15,000
Singapore is launching Vaccinated Travel Lanes (VTLs) with Thailand from Dec 14 and with Cambodia, Fiji, Maldives, Sri Lanka and Turkey from Dec 16, said the Ministry of Health on Friday (Nov 26). Applications by short-term visitors and long-term pass holders for a Vaccinated Travel Pass (VTP) to enter under the quarantine-free travel scheme will commence on Dec 7 for those travelling from Thailand and Dec 9 for the other countries for which the VTL starts from Dec 16.
https://www.businesstimes.com.sg/transport/singapore-adds-6-countries-to-its-vtl-scheme-raises-traveller-quota-to-15000
S’pore to issue and accept Covid-19 certificates compatible with EU’s system from Dec 7
Singapore – From Dec 7, Singapore will issue Covid-19 health certificates that are compatible with the European Union’s (EU) Digital Covid Certificate (DCC) system, allowing for easier travel between the Republic and the continent.
https://www.straitstimes.com/singapore/spore-to-issue-and-accept-covid-19-certificates-compatible-with-eus-system-from-dec-7
All arriving in S’pore from Malaysia via land VTL must take ART on arrival in view of Omicron variant
Singapore – Those travelling from Malaysia to Singapore via the land vaccinated travel lane (VTL) will be required to take an antigen rapid test (ART) upon arrival here. This will take effect from 8am on Monday (Nov 29), when the first land VTL travellers arrive in Singapore.
https://www.straitstimes.com/singapore/health/travellers-from-malaysia-using-land-vtl-must-take-art-upon-arrival-in-singapore
Dream Cruises passengers must be fully vaccinated against Covid-19
Singapore – Cruise operator Dream Cruises is now mandating that all passengers above the age of 12 must be fully vaccinated to take its cruises, more than a month after Royal Caribbean International introduced the same requirement.
https://www.straitstimes.com/singapore/consumer/dream-cruises-passengers-must-be-fully-vaccinated-against-covid-19
*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation
Global Economy & Global Real Estate
New coronavirus variant Omicron keeps spreading around the world
https://www.businesstimes.com.sg/government-economy/new-coronavirus-variant-omicron-keeps-spreading-around-the-world-0
WHO classifies new Covid-19 strain Omicron as ‘variant of concern’
https://www.straitstimes.com/world/europe/who-classifies-new-covid-19-strain-omicron-as-variant-of-concern
America’s new, cheaper beachfront condos
https://www.straitstimes.com/business/invest/americas-new-cheaper-beachfront-condos
Growing old in high style
https://www.businesstimes.com.sg/real-estate/growing-old-in-high-style
Miami’s mini condos offer investors a small slice of a hot market
https://www.businesstimes.com.sg/real-estate/miamis-mini-condos-offer-investors-a-small-slice-of-a-hot-market
All arriving in UK must take PCR test, mask-wearing rules tightened after Omicron variant found
https://www.straitstimes.com/world/europe/uks-johnson-sets-out-more-measures-to-fight-new-covid-19-variant
France detects eight possible Omicron Covid-19 variant cases: Health Ministry
https://www.straitstimes.com/world/europe/france-detects-eight-possible-omicron-covid-19-variant-cases-health-ministry
Australia urgently tests arrivals as Covid-19 detected amid Omicron concerns
https://www.straitstimes.com/asia/australianz/australia-urgently-tests-arrivals-as-covid-19-detected-amid-omicron-concerns
China property turmoil risks upending green debt market
https://www.businesstimes.com.sg/real-estate/china-property-turmoil-risks-upending-green-debt-market
China Evergrande soccer stadium taken over by government: source
https://www.businesstimes.com.sg/real-estate/china-evergrande-soccer-stadium-taken-over-by-government-source-0
HK Oct home prices ease for 2nd month after record high
https://www.businesstimes.com.sg/real-estate/hk-oct-home-prices-ease-for-2nd-month-after-record-high
Hong Kong detects new Covid-19 variant in traveller who had been to South Africa
https://www.straitstimes.com/asia/east-asia/hong-kong-detects-new-covid-19-variant-in-traveller-who-had-been-to-south-africa
Global firms are paying up to deal with Hong Kong’s quarantine policy
https://www.businesstimes.com.sg/government-economy/global-firms-are-paying-up-to-deal-with-hong-kongs-quarantine-policy
Israel first nation to ban entry of travellers from all countries over Omicron Covid-19 variant
https://www.straitstimes.com/world/middle-east/israel-to-ban-entry-of-travellers-from-all-countries-over-omicron-covid-19-variant
Real Estate Indonesia chief wants VAT waiver on new homes extended for another year
https://www.businesstimes.com.sg/real-estate/real-estate-indonesia-chief-wants-vat-waiver-on-new-homes-extended-for-another-year
Additional Articles of Interests -Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article
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