The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 30 December 2021 (Thu)

Singapore Real Estate

Are shophouses an evergreen asset class?

Singapore Economy

Singapore GDP growth to moderate in Q4 on Omicron woes: poll
[Singapore] Singapore’s economic growth is expected to have moderated in the 4th quarter, partly hurt by uncertainty caused by the Omicron Covid-19 variant and analysts say the outlook for next year will hinge on the global progress made against the pandemic.

Finance Minister Lawrence Wong to deliver Singapore Budget on Feb 18
The Singapore Budget will be delivered in Parliament on Feb 18, 2022 by Finance Minister Lawrence Wong, the Ministry of Finance said in a press statement on Thursday (Dec 30). This will be the first time Wong is delivering the Budget statement in Parliament as Finance Minister.

Singapore, China ink 14 pacts to step up cooperation, including an ETF product link
New initiatives that saw the expansion of financial cooperation between Singapore and China were discussed at a high-level bilateral forum on Wednesday (Dec 29). Fourteen Memoranda of Understanding (MOUs) and agreements were announced at the 17th Joint Council for Bilateral Cooperation (JCBC).

Companies’ Brief

CapitaLand Development in JV to develop 1.5b yuan business park in Suzhou New District
CapitaLand Development (CLD) has partnered Mitsubishi Estate, one of Japan’s largest real estate groups, to invest 1.5 billion yuan (S$318.2 million) to develop a business park in China’s Suzhou New District. The development arm of CapitaLand takes a 50 per cent share in the joint venture (JV) for the project, which will start construction next year and is expected to complete in 2024.

Views, Reviews, Forum & Others

Data centre, logistics boom could further whet investor appetite
Logistics assets and data centres in the Asia-Pacific (Apac) region are expected to become even more coveted by property investors next year amid increasing capital flows and optimism. Real Capital Analytics (RCA) data showed that investments in the region’s industrial real estate – for deals of at least US$10 million – amounted to US$44.59 billion this January to November, climbing about 50 per cent from the same period in 2020.

Board diversity for resilience and sustainability
As we wind down for the year-end, it’s apparent that we’ve grappled with Covid-19 for almost 2 years now, and it has no doubt been a trying period. The pandemic has no doubt put the resilience of individuals, organisations, and countries to the test.

Update on COVID-19 (Coronavirus Disease 2019) Situation

Singapore’s vaccination drive one year on: 87% fully vaccinated, 39% have received booster
Singapore – It has been one year since the first Covid-19 jab was administered here on Dec 30, 2020. Since then, 87 per cent of the population here have been fully vaccinated, while 39 per cent have received their booster shot.

Experts believe Omicron will soon displace Delta as the dominant global strain
Singapore – The new and supposedly more contagious Omicron variant is likely to replace Delta – the current globally dominant Covid-19 strain – over the coming weeks to months, say experts. While Delta is still the most common variant in all continents except Africa, Omicron is rising very quickly…

Singapore hopes to be among first countries to resume cross-border travel with China: DPM Heng
Singapore – When China is ready to resume cross-border travel, Singapore hopes to be among the first countries with which it restores greater connectivity, said Deputy Prime Minister Heng Swee Keat on Wednesday (Dec 29).

Travellers to S’pore can bring up to 20 Covid-19 self-test kits approved in country of embarkation
Singapore – Local and foreign travellers entering Singapore are each allowed to bring with them a maximum of 20 Covid-19 self-test kits that have not been authorised for use here as long as they are approved for use in the country the traveller is arriving from.

No rush in Singapore to buy Covid-19 test kits, unlike in US and UK
Singapore – A shortage of Covid-19 test kits has been reported in the United States and England amid a surge in Omicron cases, but the shelves in Singapore remain well stocked. There also appears to be low demand for antigen rapid tests (ARTs) from retailers 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

World hits record number of Covid cases in a week; more than 935,000 cases each day

US pending home sales unexpectedly decline on low supply

US goods trade deficit hits a record in November

Bitcoin set for worst month since May crypto rout

Air filters and outdoor spaces: Office costs rise

China outlines vision for 4 mega data centre clusters

China to extend some favourable income tax policies

Japan braces itself for Omicron spread as New Year’s travellers fan out across country

Hong Kong November home prices drop for 2nd month, softening from peak

Vietnam’s economy expands in Q4 as manufacturing revives

Indonesia poised for stronger GDP growth in 2022

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