Singapore Real Estate / Built Environment
Some 12,000 new homes to come up on sites rezoned for housing across 11 areas
slew of land parcels in 11 areas across the island are set to be rezoned for housing, in a move that will give a major boost to supply in popular residential areas.
Tampines industrial building fire: Structure assessed as unstable by SCDF after blaze
A fire broke out in a building in Tampines on May 9, with dense black smoke forcing the evacuation of office workers as well as students in a nearby school.
Shophouse hotels are favored by investors as tourism industry recovers
Singapore’s tourism industry has recovered, and conservation shophouse hotels, popular with many tourists, have gained favor among investors in recent years. Recently sold shophouse hotels include 21 Carpenter and Duxton Reserve, while two more hotels are seeking buyers.
https://www.zaobao.com.sg/finance/singapore/story20250511-6149684
Koufu’s Pang family buying Caldecott Hill GCB site for S$58 million
The family of Koufu Group founders Pang Lim and Ng Hoon Tien is understood to be in the early stage of a deal to buy a large freehold site in the Caldecott Hill Estate Good Class Bungalow (GCB) Area for S$58 million.
Singapore News
Dealing with economic situation is key post-election priority for government: PM Wong
A key priority for the newly elected government is to deal with the economic situation and its impact on Singaporeans, said Prime Minister Lawrence Wong in a video posted the week after the May 3 general election.
https://www.zaobao.com.sg/news/singapore/story20250510-6319155
Lack of talent could put a damper on Singapore’s growing carbon services sector
Singapore’s carbon services sector is gaining traction with new initiatives and research projects, but a shortage of talent could hinder the growth of the new sector in the long run.
Business News
CDL fails in bid to buy out New Zealand hotel unit
City Developments Ltd (CDL) failed in a bid to buy out its listed New Zealand hotel unit, in another setback for the embattled Singapore developer.
https://www.businesstimes.com.sg/property/cdl-fails-bid-buy-out-new-zealand-hotel-unit
DBS, OCBC, UOB set aside extra allowances to account for heightened uncertainty
The local banking trio have taken extra allowances in their first-quarter 2025 results amid a rise in uncertainty in the macroeconomic environment.
OCBC mulls capital management as it closes in on three-year target for S$3 billion incremental revenue
OCBC keeps 2025 guidance, but loan growth targets could be buffeted by headwinds: CEO Helen Wong
As OCBC reaches the deadline for its three-year target to achieve S$3 billion in incremental revenue by 2025, it is setting its sights on staying resilient in an increasingly uncertain world, said group chief executive Helen Wong.
Global Economy / Real Estate News
Federal Reserve’s Cook warns tariffs could lower productivity, feed inflation
Wary investors hope US-China talks cool high-stakes trade war
Ahead of China-US talks, Trump says 80% tariff ‘seems right’
https://www.businesstimes.com.sg/international/ahead-china-us-talks-trump-says-80-tariff-seems-right
https://www.channelnewsasia.com/world/us-china-talks-donald-trump-tariffs-geneva-5122571
China says it has full confidence in ability to manage US trade issues
In China, record land prices return as developers bet on prime plots
https://www.businesstimes.com.sg/property/china-record-land-prices-return-developers-bet-prime-plots
China’s factory-gate deflation deepens as trade war bites
Chinese exports to US slump 21% but soar to Asia and Europe
Hong Kong will ‘play it safe’ with growth figures amid US tariff war: Paul Chan
Hong Kong’s ‘golden week’ tourist numbers rise by better-than-expected 22%
Hong Kong property prices may bottom as borrowing costs plunge: Jefferies
Hong Kong property: Southeast Asian buyers, schools fuel revival in commercial deals
Indonesia eyes cut in fuel imports from Singapore as part of tariffs negotiations
Japan PM Ishiba reiterates call to eliminate all tariffs with US
Japan’s early exports in April slow as US tariffs hit firms
https://www.businesstimes.com.sg/international/japans-early-exports-april-slow-us-tariffs-hit-firms
Japan’s Panasonic targets 10,000 job cuts worldwide
https://www.channelnewsasia.com/business/panasonic-layoff-10000-job-cuts-worldwide-5119421
Japan fair trade watchdog warns Tokyo hotels over information-sharing
Thai central bank chief says uncertainty very high over US tariffs impact
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.