The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 3, 4 & 5 Oct 2020 (Sat, Sun & Mon)

Singapore Real Estate

Bigger homes back in demand
If you are feeling a bit cooped up working from home in your two-or three-bedroom unit, imagine how your horizon would be further curtailed if your living space was reduced by half or more. Add another home worker – your spouse – and there is bound to be daily jostling on who gets more elbow space at the dining table. And we have not even talked about the kids yet, as they are bound to want their own playing area.

More are checking into hotels – for work
With Covid-19 profoundly reworking the office concept, hotel operators have moved to selling flexible workspace in recent months for employees not yet able to head back to the office. Hotel operators told The Business Times (BT) that they have seen a good take-up for their work-from-hotel packages…

Designing smart, sustainable HDB homes for the future
Smart-enabled homes with built-in smart power sockets and sensor-equipped lights in common areas are some new features residents in the upcoming Punggol Northshore district can look forward to. Owners of these smart homes will be able to control just about any appliance that is connected to a power source – fans, lights and coffee machine – through a mobile application.

Reits (October 03-04, 2020)


Singapore Economy

Covid-19: Phase 3 reopening of Singapore expected to be calibrated, cautious, say experts
Singaporeans can expect to move into phase three reopening in a calibrated and cautious manner, in the same way restrictions are being eased in the different stages of the current phase two, experts told The Straits Times.

No new round of support tomorrow, says DPM Heng
Deputy Prime Minister Heng Swee Keat will not be unveiling a new round of support measures when he makes a ministerial statement in Parliament tomorrow, but will speak about how resources will be allocated to fund the measures already announced.

80% of businesses see revenues hit, but most are retaining workers: SCCCI survey
Some 80 per cent of businesses here are experiencing declines in revenue, according to an annual survey by the Singapore Chinese Chamber of Commerce & Industry (SCCCI) released on Friday. This is more than double the proportion of businesses (38.7 per cent) that reported revenue declines in 2019.

Chan Chun Sing says S’pore will stay open, as business leaders worry about anti-foreigner sentiment
Foreign business chambers in Singapore are worried that the recent rise in anti-foreigner sentiments and scrutiny of the role of foreign manpower could negatively impact future investments from the global business community.

Optimism in Singapore manufacturing hints at recovery
Singapore’s manufacturers appear to be optimistic about business prospects, with September’s Purchasing Managers’ Index (PMI) remaining in expansionary territory for the third straight month. September’s reading saw a faster expansion at 50.3, inching up 0.2 point from August, according to data from the Singapore Institute of Purchasing and Materials Management (SIPMM).

Taxman says no to 444 employers for job support payouts involving $10m; 4 cases referred to police
The Inland Revenue Authority of Singapore (Iras) has denied close to S$10 million in Job Support Scheme (JSS) payouts, either partially or fully, to 444 employers. Iras has also referred four egregious cases to the police for investigation, it said in a press statement on Friday.

Foreign business chambers worry about anti-foreigner sentiments
Foreign business chambers in Singapore are concerned about the rise in anti-foreigner sentiments and the possible effect on foreign investment, as they shared in an Oct 1 dialogue with Minister for Trade and Industry Chan Chun Sing, hosted by the Singapore Business Federation (SBF).

Job seekers in Singapore willing to accept lower pay as Covid-19 pandemic hits hard
Former manager Lau Disan was doing well before the pandemic hit, but she has had to take a 50 per cent pay cut after switching from the ravaged retail industry to early childhood education. Her experience is far from rare: Many job seekers are now willing to accept lower salaries because of the tight employment market and difficult economic conditions brought on by the coronavirus, experts said.


Companies’ Brief

Moody’s downgrades CMT to A3, and upgrades CCT to Baa1
Moody’s Investors Service has downgraded its ratings on CapitaLand Mall Trust (CMT) and upgraded those of CapitaLand Commercial Trust (CCT), days after unitholders voted in favour of a merger of the two trusts. The credit ratings agency has downgraded the issuer and senior unsecured ratings of CMT to A3 from A2; its rating of CCT has been raised from Baa2 to Baa1.

Frasers Property Australia wins build-to-rent project in Queensland
Frasers Property’s Australian division has won a bid to join the Queensland government’s build-to-rent (BTR) pilot. This will help create BTR as a viable asset class in Brisbane and deliver affordable key-worker housing options to the inner city, said mainboard-listed Frasers Property in a press statement on Saturday.

Heeton plans to balance cost cuts with discount purchases
While Heeton Holdings’ overseas hospitality business has taken a big hit from the Covid-19 pandemic, the mainboard-listed property group is not shying away from potential acquisitions, chief operating officer Ivan Hoh told The Business Times.

Corporate digest


Views, Reviews, Forum & Others

Developing skills for today’s workplace
Chia Ngiang Hong, President, Real Estate Developers’ Association of Singapore (REDAS)

A drastic change of mindset from the present regime is absolutely necessary. I concur with the NUS president’s recent call for a demolition of subject silos, as we need to prepare our students to be a more well-rounded, articulate and interdisciplinary character, and a polymath in skills.

S’pore – the launch pad for Chinese business in South-east Asia
Two weeks ago, Tencent, China’s Internet and gaming behemoth, announced it was creating a regional hub in Singapore to tap the fast-growing South-east Asia market. The news came on the heels of other Chinese tech giants setting up bigger shops in the Republic, as they face push-back in the US, India and other countries.

Using phased approach to make business decisions during a crisis
The devastating impact of Covid-19 on the global economy is rippling across the world. For many business leaders, the pandemic has disrupted every aspect of their organisation – from people to revenues. The work they do on both fronts now will shape the future of their organisations and, in effect, Singapore’s economy.

A green revolution beckons
In the midst of the worst public health crisis in a generation, a green revolution is set to further shake up the world of finance. Investors hold considerable sway. As the world’s largest wealth manager, UBS recently made headlines by announcing that it would be the first major financial institution to recommend sustainable over traditional solutions for private clients investing globally.

The death of globalisation?
In the wake of the Covid crisis, the tide is slowly turning away from outward-looking policies. Is this the end of globalisation as we know it and what will it mean for open economies like Singapore?

Trump’s Covid-19 diagnosis brings out the bears on crude
Crude prices, already possessed by bears amid a supply glut and an elusive US stimulus package, were hammered on Friday as uncertainty reigned on news that US President Donald Trump has tested positive for Covid-19.

Behave responsibly to stem spread
Singapore has drawn attention to the consequences of socially irresponsible behaviour by fining 32 diners $300 each for flouting Covid-19 rules at food and beverage outlets, such as for not wearing masks promptly after eating or drinking, intermingling between tables, and sitting in groups of more than five when dining in public.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Coronavirus: 12 new patients, with six imported, two in community
There were 12 new coronavirus cases confirmed as at yesterday afternoon, including two community cases and six imported cases. Ten of the cases are asymptomatic and detected from proactive screening, while two had symptoms.

Grey areas of masking up when dining out in Singapore
Wearing a mask outside the home has become part of everyday routine over the past six months or so, but one grey area remains: When should it be removed – and put back on – when dining out?

Cash no longer king as consumers turn to e-payments: Report
The coronavirus pandemic will further undermine the use of cash amid a shift by consumers towards e-commerce and digital payments, a report noted. It estimated that cash in Singapore will be used in 39 per cent of all transactions this year, down from 59 per cent in 2010.

TraceTogether token distribution to be expanded
The distribution of TraceTogether tokens will intensify from this month, with the authorities aiming to expand Singapore’s contact tracing network to 75 per cent of the population as the country opens up further.
*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 

Outlook for European economies remains gloomy despite stimulus funds

Manhattan landlords desperate to fill apartments

Manhattan home sales echo 2009 with supply pile-up

UK warehouse demand doubles in a year

US job growth slows more than expected in September

UK launches scheme to help new Covid-19 jobless back into work

Cerberus repackaging near-junk CMBS into top-rated securities

Goldman CEO finally sells Aspen home after dividing it

Australia to expand first-home buyer assistance to lift economy

Australia business conditions, confidence pick up but sentiment still gloomy

Australia to spend A$1.2b on jobs in budget based on Covid-19 vaccine

Japan’s jobless rate rises to 3%, a 3-year high

South Korea’s Sept factory activity shrinks at slowest pace in eight months

Indonesia revising entry ban on travel from Singapore

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