The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 9 February 2022 (Wed)

Singapore Real Estate

Vicenta Lodge in Kembangan relaunches for collective sale with S$27.2m reserve price
Freehold residential development Vicenta Lodge, located on Lorong Marzuki in Kembangan, will be relaunched for collective sale with a reserve price of S$27.2 million on Feb 10, said PropNex Realty on Wednesday (Feb 9).


Companies’ Brief

Carousell in talks to buy property marketplace ahead of SPAC deal
Online classifieds company Carousell is in talks to acquire Singapore-based property marketplace operator 99 Group ahead of a potential public listing in the US this year, according to people aware of the development.

Keppel still undervalued despite recent rally, growth potential
Singapore – It is not often that a company is seen as a microcosm of a nation. Keppel may very well be that company. Although largely known as an energy and shipyards-focused offshore and marine (O&M) player, Keppel has diversified, and its business portfolio now stretches from real estate and urban development, energy, environment and sustainability, to logistics and connectivity, and asset management.

Yanlord’s contracted pre-sales up 88% to 9.81b yuan last month
Chinese property developer Yanlord Land Group logged 9.81 billion yuan (S$2.07 billion) in total contracted pre-sales from residential and commercial units, as well as car parks in January 2022, up 87.7 per cent from the 5.22 billion yuan it recorded a year ago.

MBS to undergo revamp in US$1b reinvestment programme
Marina Bay Sands (MBS) announced plans to reinvest US$1 billion in upgrading its existing property as part of its parent company Las Vegas Sands’ ongoing programme to enhance the design and customer experience across its Singapore and Macau properties.

Raffles Family Office appoints first deputy group CEO
Raffles Family Office (RFO), a multi-family office and independent asset manager, has appointed William Chow as its first deputy group chief executive officer (CEO). The deputy CEO position is a newly created role as the company expands its C-suite team to “sustain growth trajectory and explore new service offerings”, RFO said in a press statement on Feb 9 (Wednesday).


Views, Reviews, Forum & Others

The road to net zero for corporate Singapore
While net-zero commitments hold a solid spot on many corporate board and C-suite agendas today, many companies in Singapore and Asia are still trying to figure out what net zero entails. A recent study by Engie Impact, a sustainability solutions company, found 90 per cent of companies in the Asia-Pacific lack confidence that their business units and individuals are incentivised to decarbonise.

Singapore’s GIC ramps up deals in low-return world
Singapore (Bloomberg) – As the world’s most acquisitive sovereign wealth fund turns 40, it has never had so much money to manage – nor faced more challenges trying to manage it.


Update on COVID-19 (Coronavirus Disease 2019) Situation

Number of new local Covid-19 cases rises to 12,791; more than a thousand hospitalised
[Singapore] The total number of locally transmitted Covid-19 cases in Singapore rose to 12,791 on Tuesday (Feb 8), up from 7,629 the day before. There were 29 more patients hospitalised with Covid-19, bringing the number to 1,194, up from 1,165 on Monday, said the Ministry of Health in its daily update.

Demand up for ART test kits amid surge in community cases, return to office
A combination of Chinese New Year festivities, more people returning to workplaces and a surge in community cases of the coronavirus have led to a surge in demand for antigen rapid test (ART) kits.

askST: Can I go back to work if I still test positive for Covid-19 after seven days?
Singapore – Last month, Singapore made further changes to its Covid-19 protocols as the Omicron wave hit. The maximum self-isolation period for vaccinated individuals was shortened from 10 to seven days.

Children aged 5 to 11 currently have highest Covid-19 infection rate here: Ong Ye Kung
[Singapore] Children aged 5 to 11 currently have the highest rate of Covid-19 infection here, Health Minister Ong Ye Kung said on Tuesday (Feb 8). Speaking at the Singapore Health Quality Service Awards 2022, where he was guest of honour, Mr Ong said that while hospitals may not currently be stressed in the same way as during the Delta wave, there is a need to ensure there are sufficient paediatric beds.

*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

U.S. trade deficit soared to a record in 2021 as imports outweighed exports

Even bosses are giving up on the 5-day office week

Singaporean investors in Australia residential property favour capital appreciation

China eases property loan curbs as housing market slumps

Japan’s Jan service sector sentiment worsens: government

Hong Kong further tightens its tough Covid rules

Hong Kong business activity contracts, sentiment turns negative on virus surge

Malaysian advisers agree to reopen borders next month, report says

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