The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 5 Mar 2021 (Fri)

Singapore Real Estate

Pandemic to shape Singapore’s land use plans amid ongoing review: Indranee Rajah
The government is monitoring trends accelerated by the ongoing Covid-19 pandemic, and will factor the insight gathered into Singapore’s future land-use plans amid an ongoing review. To guide future development, the Ministry of National Development and the Urban Redevelopment Authority (URA) have embarked on a review of the country’s long-term land-use plans. These long-term plans are reviewed regularly, and the last major review was conducted in 2011.

Push for greener buildings under refreshed masterplan
As Singapore raises sustainability standards for green buildings under the refreshed Singapore Green Building Masterplan (SGBM), it is targeting 80 per cent of new buildings to be Super Low Energy (SLE) buildings by 2030. On Thursday in Parliament, National Development Minister Desmond Lee outlined plans to make Singapore’s urban environment more green and sustainable under the “Energy Reset” pillars of the Green Plan.

New scheme to support alliances in built environment sector
The push to accelerate transformation and boost the resilience of Singapore’s built environment sector will intensify through a new scheme that supports alliances among developers, builders, consultants and sub-contractors. Under the Growth and Transformation Scheme, each alliance will develop a business plan of at least three years that should clearly show how technology will be used to increase productivity, said Minister for National Development Desmond Lee yesterday.

Monthly record of 23 million-dollar HDB resale flats sold in February
[Singapore] The Housing Board resale market continued to perform strongly in February as 23 million-dollar flats changed hands – a new monthly record – and prices rose for the eighth straight month. Resale prices climbed 1.4 per cent last month compared with January 2021, according to flash data from real estate portal SRX released on Thursday.

HDB flat-buying process to be further streamlined
Flat buyers can soon submit their documents and be assessed for grants and loans in one application, instead of having to send multiple applications. Buyers can also apply for housing loans from participating financial institutions directly on the Housing Board flat portal, without having to submit separate applications, said National Development Minister Desmond Lee yesterday.

Resale curbs and longer occupation period among ideas for prime BTO flats
Limiting the pool of resale buyers or imposing a longer minimum occupation period beyond the five years now are some of the ideas being looked at for future public housing projects in prime locations, said National Development Minister Desmond Lee. Another suggestion being considered for a new housing model is to implement restrictions on home owners when renting out such flats.


Singapore Economy

S’pore is world’s freest economy: US think-tank
Singapore’s economy has been ranked the most free in the world this year in The Heritage Foundation’s 2021 Index of Economic Freedom, the second year in a row it topped the list. The Republic scored 89.7 points, with its overall score up by 0.3 point from last year, mainly due to an improvement in points gained for government spending, the conservative Washington think-tank said yesterday.

Dependant’s Pass moves could hurt startups, limit talent
Concerns have been raised that the moves to tighten employment conditions for Dependant’s Pass (DP) holders could hurt startups, underutilise dependants’ skills and contributions, and dampen openness to talent. Elena Chow, founder of startup talent consultancy ConnectOne, told The Business Times that the changes have created “a lot of buzz, and some concerns” in the startup community since their announcement.

Singapore, US reaffirm strong bilateral defence ties
Singapore – Singapore and the United States have reaffirmed their strong bilateral ties in defence and the desire to deepen them further. In a Facebook post about his introductory phone call with US Secretary of Defence Lloyd Austin on Wednesday (March 3), Singapore’s Minister for Defence Ng Eng Hen said: “We both affirmed our strong bilateral defence ties and desire to deepen them further. We discussed security challenges in our region, including the persistent threat of terrorism.”


Companies’ Brief

Brokers’ take: Singapore Reits poised for full recovery, says CGS-CIMB
CGS-CIMB believes Singapore real estate investment trusts (Reits) are poised for a full recovery on expectations of a continuous improvement in footfall, which would support growth in tenant sales. In a Thursday report, the brokerage singled out three Reits – Frasers Centrepoint Trust, Lendlease Global Commercial Reit (LReit) and SPH Reit – placing an “add” call on all three with target prices of S$3.01, 85.8 Singapore cents and S$1.06 respectively.

Sias reminds unitholders of Soilbuild Reit to take action
In less than a week, unitholders of Soilbuild Business Space Reit will have to vote on a proposed privatisation offer from Blackstone Real Estate and the executive chairman of the Reit’s sponsor, Soilbuild Group, Lim Chap Huat. The offer is via a trust scheme of arrangement, which means its outcome will be determined by minorities. Mr Lim and his concert parties will abstain from voting.


Views, Reviews, Forum & Others

GreenGov.SG: Public sector aims to peak carbon emissions by 2025
Singapore’s public service is adopting a carbon emissions target for the first time. It will aim for public-sector carbon emissions – including from public transport infrastructure, hawker centres and more – to have peaked around 2025, ahead of the national target. Environmental sustainability requirements will be incorporated into its procurement framework.


Singapore Budget 2021

Budget debate: Singapore blazing its own trail to become a bright green spark
Singapore – Singapore does things differently because its circumstances are different. This thinking underpins the country’s approach to subjects such as defence, labour relations, religious harmony and – if the thrust of Thursday’s (March 4) parliamentary speeches was any indication – the topic of sustainability as well. The core message: Singapore is not like other countries, and in its quest to light up the world as a “bright green spark”, it will have to blaze its own trail.

$315m to set up new trails, expand and enhance parks
A new 62km-long walking and cycling route linking Tuas to Changi is in the works. The Coast-to-Coast (C2C) Southern Trail was one of four new routes announced by National Development Minister Desmond Lee during the debate on his ministry’s budget yesterday. The other three are the 25km C2C Northern Trail linking Sungei Buloh to Khatib Bongsu, the 34km Central Corridor to link Woodlands to the city centre, and the 18km Eastern Corridor between East Coast and Pasir Ris

Electricity prices likely to rise as overcapacity normalises
Electricity prices are likely to increase as Singapore’s electricity overcapacity normalises and fuel prices rise, Second Minister for Trade and Industry Tan See Leng said yesterday. However, he noted that price surges and volatilities will be managed, adding: “Even when prices do go up, we will do our best to ensure that this gradient is gradual, and the Government will act where necessary to minimise excessive surges.”


Update on COVID-19 (Coronavirus Disease 2019) Situation

81-year-old whose husband tested positive earlier is sole community case
An 81-year-old Singaporean woman was confirmed to have Covid-19, after her 82-year-old retiree husband became infected. She was the sole coronavirus case in the community, out of 19 cases announced yesterday. The woman had developed a fever and chills last Saturday but did not seek medical attention and recovered on the same day, said the Ministry of Health (MOH).
*For more information, please visit the Ministry of Health (MOH) website and refer to for updates on the COVID-19 (Coronavirus Disease 2019) situation


Global Economy & Global Real Estate

US factory orders surge, but business spending on equipment slowing

Sunak’s UK Budget strategy: first boost growth, then raise taxes

Empty buildings squeeze city budgets as property values fall

Sands’ Sin City sale might fund pivot to Australia

Sands sells Las Vegas casinos in US$6.25b deal as it shifts focus to Macau, Singapore

Take on more risk or taper? BOJ faces tough choice with Reit buying

China sets GDP growth target of over 6 per cent this year

Hong Kong turns empty hotels into apartments as tourists vanish

Bitcoin soars above US$50,000 in rebound from last rout

Scuttled IPO leaves Ant staff stuck with shares they cannot sell

Asia’s ultra-rich are piling investments into blank-cheque firms

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