The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8 June 2022 (Wed)

Singapore Real Estate 

Tampines Avenue 11 megasite to test developers’ appetite
Singapore – A 5.07ha mixed-use site in Tampines Avenue 11 is among the highlights of the latest government land sales (GLS) programme and will likely test developers’ appetite for megasites, analysts say.


Singapore Economy

Singapore inflation seen quickening, growth slowing: Survey
Singapore (Bloomberg) – Economists bumped up their 2022 inflation forecast for Singapore by 1.6 percentage points, amid a potential threat to food supply chains. Headline inflation rate is seen rising 5.5 per cent on average in the current quarter and the next…

New joint action plan to facilitate customs clearance in Asean
Asean on Tuesday (Jun 7) launched the Joint Action Plan on the Asean Authorised Economic Operator – Mutual Recognition Arrangement, which will help facilitate customs clearance in the region, at the 31st Asean Directors-General of Customs meeting. oms-clearance-in-asean


Companies’ Brief

CapitaLand Malaysia Trust to acquire first logistics property for RM80m
CapitaLand Malaysia Trust (CLMT) has entered into a sale-and-purchase agreement to acquire 2 contiguous plots of freehold land and their industrial properties in Penang for RM80 million (S$25.1 million), the Reit manager, a subsidiary of CapitaLand Investment Limited said on Tuesday (Jun 7).

ERA sets up new unit for GCB sales
Upping the ante on the Good Class Bungalow (GCB) market, real estate agency ERA Realty on Tuesday (Jun 7) announced it has started a new division, called Luxury Homes. The new unit will focus on GCBs, a highly exclusive niche in Singapore’s luxury residential sector…


Views, Reviews, Forum and Others

URA’s ambitious blueprint for the future
The Urban Redevelopment Authority’s (URA) latest long-term plan, unveiled on Monday, speaks of a wider variety of home types, new parks and heritage corridors among its upcoming ideas for Singapore.

Nearly 3 in 4 family offices faced cyber breaches in recent years: EY
Almost 3 quarters or 74 per cent of single family offices (SFO) surveyed by EY experienced some form of cybersecurity or data breach in recent years, according to a new study conducted by the advisory services firm.


Update on COVID-19 (Coronavirus Disease 2019) situation

4,477 new Covid-19 cases reported in Singapore, more than double that of Monday
The number of new Covid-19 cases reported in Singapore rose to 4,477 on Tuesday (Jun 7), more than double the 2,162 cases on Monday. The number of cases reported on Tuesday was lower than last Tuesday’s figure, which stood at 4,985.

*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

Yellen says US inflation ‘unacceptable’ but likely to stay high

US trade deficit narrows most on record on muted China imports

IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar

World Bank slashes global growth forecast to 2.9%, warns of ‘stagflation’ risk

Australia hikes interest rates to rein in inflation

China’s economic headwinds chill its wary new homebuyers

Property tycoons lose US$65b after China curbs excesses

China export boom fades as spending shifts, cheaper rivals gain

Japan’s Q1 GDP revised up to 0.5% annualised contraction

South Korea’s Q1 GDP growth revised slightly down to 0.6%

South Korea truckers go on strike at ports as fuel costs soar

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