The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 31 Oct 2019

Singapore Real Estate

URA launches tender for Irwell Bank Road residential site
The Urban Redevelopment Authority (URA) has launched a residential site at Irwell Bank Road for sale by public tender, it said on Thursday.  The site spans an area of 12,789 square metres (sq m) with a gross floor area of 35,809 sq m.


Singapore Economy

Slow growth likely to persist through next year, says MAS
Economic activity in Singapore is likely to stay lacklustre over the next 18 months, with wages expected to grow slower this year and the next.  The trade-related cluster faces “significant uncertainties” as well, with industries in the electronics space seeing higher volatility in recent months.

H1 tourist spend points to Singapore missing full-year target
Singapore’s tourism receipts were down 1.3 per cent year on year in the second quarter at S$6.5 billion, despite a 1.7 per cent rise in international visitor arrivals to 4.6 million, according to Singapore Tourism Board (STB) figures on Wednesday.  This was nonetheless an improvement from the first quarter’s 4.8 per cent fall in spending. With the latest figures, tourism receipts for the first six months of 2019 were S$13.1…

Singapore wage growth could ease as market softens, says MAS
Singapore’s central bank is expecting the overall labour market to soften as domestic wage growth eases amid the slowdown across major advanced countries and Asian economies in the first half of this year.  In its October 2019 Macroeconomic Review released on Wednesday, the Monetary Authority of Singapore (MAS) noted that hiring sentiment has been more restrained amid the continued economic slowdown.

Inflation expectations shaped by rise of premium goods: study
Households tend to see inflation as higher than it really is – a misapprehension that may nonetheless affect how wages and prices are set.  The trend can be blamed on rising living standards and the variety of consumer goods available here, a team of academics has suggested.


Companies’ Brief

Parkway Life Reit Q3 DPU rises 1.9% to 3.3 S cents
Parkway Life Real Estate Investment Trust (Reit) on Thursday posted a 1.9 per cent rise in distribution per unit (DPU) to 3.30 Singapore cents for the third quarter ended Sept 30, from 3.23 Singapore cents a year ago.   Gross revenue rose 5.4 per cent to S$29.9 million, from S$28.4 million last year on the back of higher rent from its Singapore properties, and appreciation of the Japanese yen.

Maxi-Cash to buy four shops for S$23.7m from chairman’s firm
Maxi-Cash Financial Services Corporation is looking to buy four investment properties for a total cash consideration of S$23.7 million. Its wholly-owned subsidiary, Maxi-Cash Property, on Tuesday entered into a conditional sale and purchase agreement with 8G Investment for the acquisition of the properties, several of which house its pawnbroking and retail businesses.


Global Economy & Global Real Estate

US GDP growth slows to 1.9%, but still better than expected

US interest rate cut was ‘insurance,’ policy now in ‘good place’: Federal Reserve’s Powell

Q3 consumer strength fuels 1.9% growth in US economy

Pending US home sales post biggest annual increase since 2015

Los Angeles’ US$1b trophy tower halted as China pulls back

China’s service sector activity grows at slower pace in October: official PMI

China’s October factory activity shrinks for sixth month: official PMI

Soho China considers selling stake in commercial property holdings

How long will it take Hong Kong to bounce back from recession?

Brazil cuts interest rates to new record low


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

Scroll to Top