The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News 1, 2 & 3 February 2025 (Sat, Sun & Mon)

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).

https://www.straitstimes.com/singapore/improved-connectivity-shared-spaces-for-tanjong-pagar-residents-by-2030

 

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.

https://www.businesstimes.com.sg/property/two-park-nova-units-sold-january-near-record-prices-one-penthouse-s6593-psf

 

 

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.

https://www.businesstimes.com.sg/singapore/singapore-will-continue-work-us-counterparts-comply-export-controls-mti

 

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.

https://www.businesstimes.com.sg/singapore/economy-policy/singapore-rough-spot-if-trumps-tariffs-escalate-trade-war-analysts

 

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.

https://www.businesstimes.com.sg/singapore/singapores-operating-revenue-track-exceed-full-year-estimate-allowing-generous-budget-2025

 

 

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.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-acquires-two-freehold-hotels-japan-21b-yen

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.

https://www.straitstimes.com/business/mbs-q4-revenue-rises-7-2-to-1-54-billion-as-travel-and-tourism-spending-in-asia-expands

 

 

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.straitstimes.com/singapore/tax-refund-e-mails-from-singapore-customs-are-scams-warns-authority

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.

https://www.straitstimes.com/singapore/transport/limit-on-number-of-unmanned-aircraft-above-250g-that-can-be-registered-to-be-lifted-on-feb-14-caas

https://www.channelnewsasia.com/singapore/unmanned-aircraft-drones-remote-kites-regulations-caas-ease-feb-14-4907886

 

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.straitstimes.com/singapore/water-supply-to-about-20-homes-in-lavender-area-disrupted-after-underground-pipe-bursts

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

https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-dollar-surges-against-singapore-dollar-major-currencies-trumps-tariffs

https://www.straitstimes.com/business/companies-markets/us-dollar-surges-oil-jumps-as-asian-stocks-start-to-fall-on-trump-tariffs

 

Oil posts weekly losses as US set to impose tariffs on Canada, Mexico

https://www.businesstimes.com.sg/companies-markets/oil-posts-weekly-losses-us-set-impose-tariffs-canada-mexico

https://www.channelnewsasia.com/world/us-president-donald-trump-tariffs-goods-canada-mexico-china-4911051

 

Trump getting the lower interest rates he demanded from everyone but the Fed

https://www.straitstimes.com/business/economy/trump-getting-the-lower-interest-rates-he-demanded-from-everyone-but-the-fed

 

US inflation rises in December; consumer spending accelerates

https://www.businesstimes.com.sg/international/us-inflation-rises-december-consumer-spending-accelerates

https://www.straitstimes.com/business/economy/us-economy-finished-2024-on-strong-note-but-faces-hurdles

 

Australian house prices fall further led by Sydney and Melbourne

https://www.businesstimes.com.sg/property/australian-house-prices-fall-further-led-sydney-and-melbourne

 

Canada’s Trudeau slaps 25% tariffs on C$155 billion of US goods in retaliation for Trump’s tariffs

https://www.businesstimes.com.sg/international/canadas-trudeau-slaps-25-tariffs-c155-billion-us-goods-retaliation-trumps-tariffs

 

Xi weighs retaliation after Trump hits China with 10% tariff

https://www.businesstimes.com.sg/international/global/xi-weighs-retaliation-after-trump-hits-china-10-tariff

 

Trump tariffs target loophole used by Chinese online retailers

https://www.businesstimes.com.sg/international/trump-tariffs-target-loophole-used-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

https://www.scmp.com/business/article/3297021/slow-start-hong-kongs-first-new-property-launch-year-snake

 

SHKP’s 9,700-unit Sai Sha project: can it be the next Taikoo Shing or Lohas Park?

https://www.scmp.com/business/article/3296967/shkps-9700-unit-sai-sha-project-can-it-be-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

https://www.channelnewsasia.com/asia/indonesia-ministry-state-owned-enterprises-4-day-work-week-work-life-balance-4908086

 

Japan wary of taking another hit if Trump slaps tariffs on China

https://www.straitstimes.com/business/japan-wary-of-taking-another-hit-if-trump-slaps-tariffs-on-china

 

Japan’s factory activity extends decline, optimism weakens: PMI

https://www.businesstimes.com.sg/international/japans-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

https://www.channelnewsasia.com/business/boj-must-maintain-monetary-support-says-governor-ueda-4908066

 

Bank of Japan expects rising inflation to spur demand for new financial services

https://www.businesstimes.com.sg/international/bank-japan-expects-rising-inflation-spur-demand-new-financial-services

 

Japan’s foreign workforce hits record as labour crisis deepens

https://www.businesstimes.com.sg/international/japans-foreign-workforce-hits-record-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

https://www.businesstimes.com.sg/international/south-korea-exports-stay-resilient-trump-tariff-threat-looms

 

South Korea factory activity expands as output grows on overseas demand: PMI

https://www.businesstimes.com.sg/international/south-korea-factory-activity-expands-output-grows-overseas-demand-pmi

https://www.channelnewsasia.com/business/south-korea-factory-activity-expands-output-grows-overseas-demand-pmi-shows-4912121

 

South Korea Dec retail sales decline amid political upheaval

https://www.channelnewsasia.com/business/south-korea-dec-retail-sales-decline-amid-political-upheaval-4912126

 

Thai central bank says economy slowed in December

https://www.businesstimes.com.sg/international/asean/thai-central-bank-says-economy-slowed-december

 

Disclaimer & Note:

Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.

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