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 Dec 2020 (Wed)

Singapore Real Estate

Singapore is most expensive city in South-east Asia for fitting out offices
Singapore recorded the highest average fit-out cost for offices across South-east Asia, at US$112 per square foot (psf), Cushman & Wakefield said on Tuesday. This was despite the city-state’s average cost having already fallen from US$115 psf a year ago, said the real estate services firm’s analysis for 2020-2021.

Mountbatten Road residential site for sale with S$13m guide price
A residential site at 801 Mountbatten Road is up for sale by expression of interest (EOI) with a guide price of S$13 million. This translates to about S$1,199 per square foot on a land area of 10,839 square feet, exclusive marketing agent Savills Singapore said on Tuesday.

AirTrunk opens its first Singapore data centre
AirTrunk on Wednesday opened its first Singapore data centre – located on 1.5 hectares of land in Loyang due to its close proximity to the Changi North Cable landing station, allowing for strong international connectivity, the company announced in a statement the same day.

Waterloo St vendors to move into allocated lots from January
Flower vendors and fortune tellers with makeshift stalls near two popular temples in Waterloo Street will need a licence from next year to operate in designated lots, as the authorities move in to deal with crowding and obstruction. From Jan 4, the 41 street vendors will have to progressively move into these allocated lots, which measure 2m by 1.5m.


Singapore Economy

Hosting WEF a major coup for Singapore and crucial to healing MICE sector
The World Economic Forum’s (WEF) decision to host its Special Annual Meeting 2021 in Singapore next May is a prestigious media-grabbing coup for the city-state, but more importantly a significant stepping stone to heal the country’s meetings, incentives, conferences and exhibitions (MICE) sector, experts say.

Observers highlight likely factors behind picking Singapore
Singapore’s handling of the Covid-19 outbreak and its strong events infrastructure were likely factors in the country being picked to host the World Economic Forum’s (WEF) annual meeting next May, observers said. Professor Dale Fisher from the National University of Singapore’s (NUS) Yong Loo Lin School of Medicine said WEF organisers can see that Singapore has “got good control of the disease”.

Singapore, China lay groundwork towards post-Covid world with new agreements
As the relationship between Singapore and China evolves, the two countries are working together on new areas such as public health and coming up with ways to deepen connectivity, Deputy Prime Minister Heng Swee Keat said on Tuesday.


Companies’ Brief

Keppel Infra Trust and Philippine partner to buy storage facility owner
The manager of Keppel Infrastructure Trust (KIT) and its Philippine partner Metro Pacific Investments Corporation (MPIC) have entered into a conditional agreement to fully acquire an entity that owns the largest petroleum products import storage facility in the Philippines.

Keppel Bay Tower bags Green Mark Platinum (Zero Energy) certification
Singapore’s Building and Construction Authority (BCA) has certified Keppel Bay Tower as a Green Mark Platinum (Zero Energy) building. It is the first commercial property in the country to receive this accolade, said BCA and Keppel Land in a joint statement on Wednesday.

Corporate digest


Views, Reviews, Forum & Others

Reliability record makes Singapore ideal vaccine distribution hub
The recent flurry of announcements by drug manufacturers that their Covid-19 vaccines have successfully completed clinical trials have brought a huge relief to a pandemic-weary world. Ordinarily, the process that follows to certify and approve the vaccines for immunisation among the general public would take months if not years.

Covid-19 rule-breakers endangering all
Recent punitive action taken against Gemma Steakhouse at the National Gallery Singapore and Foot Locker’s Orchard outlet for breaches of safe management measures should provide ample warning that companies and individuals should not behave as if the danger from the coronavirus pandemic has passed.

Want vaccines fast? Suspend intellectual property rights
As some reports would have it, this is the beginning of the end. Three coronavirus vaccines have posted excellent results, with more expected to come. But this is not the beginning of the end; it is only the beginning of an endless wait: There aren’t enough vaccines to go around in the richest countries on earth, let alone the poorest ones.


Update on COVID-19 (Coronavirus Disease 2019) Situation

S’porean teen returning from UK among 12 new imported cases
There were 12 new coronavirus cases confirmed as of yesterday, taking Singapore’s total to 58,285. All 12 cases were imported and had been placed on stay-home notice on arrival in Singapore, said the Ministry of Health (MOH). The new cases comprised one Singaporean, two permanent residents, eight work permit holders and one short-term visit pass holder.

A vaccine’s journey
The Health Sciences Authority is in talks with at least one vaccine developer to distribute Covid-19 vaccines in Singapore once its candidate is ready. According to a recent report on vaccine distribution by DHL, these are the paths the vaccines might take to get to our hospitals and clinics.

3 nightlife outlets allowed to reopen for 2 months under pilot
In a cautious first step towards reopening the nightlife scene here, three bars and pubs will be allowed to reopen for two months under a small-scale pilot programme with strict safe management measures. The bars and pubs that are part of the initial wave of openings are Bell Bar at Cuppage Plaza, which opened last night; Skinny’s Lounge at Boat Quay, which is opening today; and Bar Kiharu at Orchard Plaza, which plans to open today or tomorrow.

*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

US Q3 productivity revised to 4.6% rate

Spectre of forever-empty offices and malls haunts commercial mortgage backed securities

UK will suspend tariffs on US goods in bid to ease aircraft trade row

Situation tricky ahead of Brexit talks, says British PM

Manhattan luxury-home buyers are back, lured by deep discounts

New Bayer chairman faces sour investors in his first major roadshow

Blackstone, Brookfield seek yield with bet on India office Reits

Australia consumer sentiment hits 10-year high

Japan approves 73.6t-yen stimulus package

Japan’s core machinery orders jump 17.1% in Oct

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