Singapore Real Estate / Built Environment
Improved connectivity, shared spaces for Tanjong Pagar residents by 2030
Residents of Tanjong Pagar town will benefit from new roads, more public transport options and 82km of cycling paths by 2030, according to a new five-year plan unveiled by the Tanjong Pagar Town Council (TPTC).
Two Park Nova units sold in January at near-record prices, one penthouse at S$6,593 psf
Two recent transactions at Hong Kong developer Shun Tak’s Park Nova project in Singapore have surfaced at near-record-high levels, caveats data showed. One unit sold at S$6,593 per square foot (psf), the second-highest psf price ever recorded in the market.
Singapore Economy
Singapore will continue to work with US counterparts to comply with export controls: MTI
The Ministry of Trade and Industry (MTI) said on Saturday (Feb 1) that Singapore’s customs and law enforcement agencies will continue to work closely with US counterparts on export controls.
Singapore in rough spot if Trump’s tariffs escalate into trade war: analysts
Singapore may have to brace itself for serious economic fallouts and double down on trade pacts if the US’ sweeping new tariffs – on imports from China, Canada and Mexico – pave the way for a major trade war, observers told The Business Times.
Singapore’s operating revenue on track to exceed full-year estimate, allowing ‘generous’ Budget 2025: economists
After the first nine months of Singapore’s fiscal year, the government’s operating revenue is on track to meet – and likely surpass – the full-year estimate, said economists.
Business News
CapitaLand Ascott Trust acquires two freehold hotels in Japan for 21b yen
CapitaLand Ascott Trust (Clas) has acquired two freehold limited-service hotels in Japan – ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae – for 21 billion yen (S$178.5 million).
https://www.zaobao.com.sg/realtime/singapore/story20250131-5812437
MBS revenue rises 7.2% to $1.54 billion in bumper Q4
The numbers came up trumps for Marina Bay Sands (MBS) in a bumper final quarter of 2024. The resort operator’s reported net revenue came in at US$1.14 billion (S$1.54 billion) in the three months to Dec 31, 2024, up 7.2 per cent from the US$1.06 billion recorded in the final quarter of the previous year.
Views, Reviews, Forum and Others
‘Tax refund’ e-mails from Singapore Customs are scams, warns authority
Tax refund e-mails that appear to be from Singapore Customs are a new ploy of scammers impersonating the authorities. Singapore Customs warned of the hoax in a Facebook post on Jan 31. It said recipients are prompted to “choose their refund method” – including via a bank transfer or their credit card – and click on a hyperlink to claim the tax return.
https://www.zaobao.com.sg/realtime/singapore/story20250131-5811002
S’pore to lift cap on number of drones, other unmanned aircraft above 250g that can be registered
The limit on the number of unmanned aircraft (UA) weighing above 250g that each person or company can register in Singapore will be lifted from Feb 14 in an effort to support the development of the UA industry.
Water supply to about 20 homes in Lavender area restored; underground pipe burst on Feb 1
Water supply to several households in the Lavender area that had been disrupted owing to a burst underground water pipe on Feb 1 has been restored. In an update on Feb 2, national water agency PUB said the water supply to the affected households was restored fully at 2.45am.
https://www.zaobao.com.sg/realtime/singapore/story20250202-5817150
Global Economy & Real Estate
US tariffs: A blow to the world economy
https://www.businesstimes.com.sg/international/us-tariffs-blow-world-economy
Trump says tariff ‘pain’ will be ‘worth the price’
https://www.channelnewsasia.com/world/trump-says-tariff-pain-will-be-worth-price-4911736
US dollar surges against Singapore dollar, major currencies on Trump’s tariffs
Oil posts weekly losses as US set to impose tariffs on Canada, Mexico
Trump getting the lower interest rates he demanded from everyone but the Fed
US inflation rises in December; consumer spending accelerates
Australian house prices fall further led by Sydney and Melbourne
Canada’s Trudeau slaps 25% tariffs on C$155 billion of US goods in retaliation for Trump’s tariffs
Xi weighs retaliation after Trump hits China with 10% tariff
Trump tariffs target loophole used by Chinese online retailers
China home prices, sales slip further in January: report
https://www.businesstimes.com.sg/property/china-home-prices-sales-slip-further-january-report
Slow start for Hong Kong’s first new property launch in Year of the Snake
SHKP’s 9,700-unit Sai Sha project: can it be the next Taikoo Shing or Lohas Park?
Community spaces are a welcome addition
https://www.scmp.com/opinion/comment/article/3297038/community-spaces-are-welcome-addition
Indonesian ministry rolls out 4-day, 40-hour work week to improve productivity, mental health
Japan wary of taking another hit if Trump slaps tariffs on China
Japan’s factory activity extends decline, optimism weakens: PMI
BOJ must maintain monetary support, says governor Ueda
https://www.businesstimes.com.sg/international/boj-must-maintain-monetary-support-says-governor-ueda
Bank of Japan expects rising inflation to spur demand for new financial services
Japan’s foreign workforce hits record as labour crisis deepens
Residents near Japan sinkhole urged to evacuate
https://www.channelnewsasia.com/east-asia/residents-near-japan-sinkhole-urged-evacuate-4911441
Osaka gears up to host World Expo 2025
https://www.channelnewsasia.com/east-asia/osaka-gears-up-host-world-expo-2025-4908256
South Korea exports stay resilient as Trump tariff threat looms
South Korea factory activity expands as output grows on overseas demand: PMI
South Korea Dec retail sales decline amid political upheaval
Thai central bank says economy slowed in December
https://www.businesstimes.com.sg/international/asean/thai-central-bank-says-economy-slowed-december
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