The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 10 July 2024 (Wed)

Singapore Real Estate / Built Environment


Prime residential sales remain firm in H1; high-value transactions surge
Prime home transactions in Singapore remained brisk in the first half of 2024, exceeding H2 2023’s figures across all residential types in terms of both sales value and transaction numbers.


Wah Loon Engineering founder’s family sells Jervois Hill GCB for S$58 million
The daughter of Wah Loon Engineering founder Alan Chong has sold a bungalow in Jervois Hill for S$58 million to a grandson of Sinar Mas founder Eka Tjipta Widjaja.



Business News


Dyson to axe around 1,000 jobs in Britain; Singapore ‘not directly impacted’
Vacuum cleaner manufacturer Dyson will cut about 1,000 jobs in Britain, more than a quarter of its workforce in the country, as part of a global restructuring. The company, founded by James Dyson, the inventor of the bagless cleaner, employs 3,500 people in Britain, including at its R&D centre in Malmesbury, west England.


Frasers Property bags S$904 million sustainability-linked loan
Frasers Property wholly owned subsidiary, Frasers Property Treasury, has secured a dual-tranche, sustainability-linked loan aggregating about S$904 million.


MPACT enters into HK$600 million term loan facility
Mapletree Pan Asia Commercial Trust (MPACT) and its subsidiary have entered into a HK$600 million ($104 million) term loan facility, guaranteed by DBS Trustee Limited in its capacity as trustee of MPACT.


Temasek returns to black with one-year total shareholder return of 1.6% for FY2024
Temasek turned in a one-year total shareholder return (TSR) of 1.6 per cent for the financial year ended Mar 31, reversing the previous year’s negative showing. However, the recovery was hampered by the weak China market.



Global Economy & Real Estate


US dollar gains as Fed’s Powell cautious on rate cuts


US Treasury’s Yellen: inflation will continue to ease over time


US economy no longer overheated, Fed’s Powell tells Congress


The US housing crisis is really about low-wage jobs


Australia business conditions worsen in June, job outlook dims: survey


Australia consumers gloomy on rates, tax relief yet to be felt


Australia sounds warning over state-backed Chinese hackers


China Vanke’s losses deepen due to discounts, project costs


China’s Guangzhou R&F Properties faces liquidation petition in Hong Kong


German real estate deals pick up amid slow recovery for offices


Hong Kong peak mansion sale price cut by 12% in three months


Hong Kong property: fire sales dominate 1st-half commercial deals as debt weighs on owners


Japan’s wholesale inflation accelerates as weak yen lifts import costs


New York City penthouse sells for US$135 million in priciest deal since 2022


Saudi Arabia to lure ultra-luxe travellers with palace stays


Taiwan June exports tops forecasts on AI demand, US market soars


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