Singapore Real Estate / Built Environment
Far East-Perennial JV to launch sale of strata-titled offices and medical suites at The Golden Mile
The consortium behind The Golden Mile is launching 156 strata-titled office units and 19 medical suites in the conserved former Golden Mile Complex along Beach Road for sale this month.
https://www.businesstimes.com.sg/property/far-east-perennial-jv-launch-sale-strata-titled-offices-and-medical-suites-golden-mile
https://www.straitstimes.com/singapore/golden-mile-complex-to-feature-architecture-centre-after-upgrading-is-completed-in-q3-2029
https://www.channelnewsasia.com/singapore/revamped-golden-mile-complex-expected-open-doors-public-third-quarter-2029-4797851
Singapore’s new family office framework will give clarity, but may not be enough to attract more super rich
The upcoming roll-out of Singapore’s single-family office (SFO) framework will likely provide ultra-wealthy families with greater clarity, and attract those seeking certainty and transparency, market observers said.
https://www.businesstimes.com.sg/companies-markets/banking-finance/singapores-new-family-office-framework-will-give-clarity-may-not-be-enough-attract-more-super-rich
Business News
Aims Apac Reit to divest warehouse in Singapore for S$24.4 million
Aims Apac Real Estate Investment Trust is divesting a warehouse at 3 Toh Tuck Link in Singapore for S$24.4 million. The sale price represents a 32.5 per cent premium to the property’s valuation of S$18.4 million as at Mar 31, 2024, the Reit manager said in a bourse filing on Tuesday (Dec 10) evening.
https://www.businesstimes.com.sg/companies-markets/aims-apac-reit-divest-warehouse-singapore-s24-4-million
HSBC raised fraud alarm that sparked collapse of fintech Stenn
A finance firm backed by several influential Wall Street investors collapsed last week after HSBC Holdings discovered some of the company’s transactions may have been fraudulent.
https://www.businesstimes.com.sg/companies-markets/banking-finance/hsbc-raised-fraud-alarm-sparked-collapse-fintech-stenn
https://www.straitstimes.com/business/banking/hsbc-raised-fraud-alarm-leading-to-collapse-of-fintech-stenn
Keong Hong unit to sell stake in Katong Holdings for S$34.5 million
Keong Hong Construction, a wholly owned subsidiary of Keong Hong Holdings, entered a non-binding agreement with private company MCSK for the proposed disposal of 20 per cent of the issued and paid-up share capital of Katong Holdings on Nov 8.
https://www.businesstimes.com.sg/companies-markets/keong-hong-unit-sell-stake-katong-holdings-s34-5-million
https://www.zaobao.com.sg/realtime/singapore/story20241210-5558467
Singapore real estate barons plan family office in Abu Dhabi
Raj Kumar and Kishin RK, the father-and-son duo behind one of Singapore’s biggest property portfolios, are setting up a family office in Abu Dhabi, joining a growing list of rich people helping to cement the Middle East’s status as a haven for the super wealthy.
https://www.businesstimes.com.sg/international/global/singapore-real-estate-barons-plan-family-office-abu-dhabi
https://www.straitstimes.com/business/banking/singapore-property-tycoons-plan-family-office-in-abu-dhabi
https://www.zaobao.com.sg/realtime/singapore/story20241210-5554592
Views, Reviews, Forum and Others
Low risk of Congo mystery disease spreading to Singapore: MOH
The risk of the mystery disease in the Democratic Republic of Congo (DRC) spreading to Singapore is low, the Ministry of Health (MOH) said on Tuesday (Dec 10). The ministry noted that the outbreak has been localised within Congo’s Panzi health zone.
https://www.channelnewsasia.com/singapore/congo-mystery-disease-low-risk-singapore-moh-who-4798091
New Punggol Coast MRT station opens, cutting travel time to city centre
Singapore – The opening of the new Punggol Coast MRT station will allow trains on the North East Line (NEL) to run at a higher frequency, shortening waiting times for commuters during peak hours, said Transport Minister Chee Hong Tat on Dec 10.
https://www.straitstimes.com/singapore/transport/new-punggol-coast-mrt-station-opens-passenger-service-to-begin-at-3pm
https://www.channelnewsasia.com/singapore/punggol-coast-mrt-station-opens-time-savings-better-connectivity-4797326
https://www.zaobao.com.sg/realtime/singapore/story20241210-5556622
Global Economy & Real Estate
Top bankers see US economy as bright spot under Trump despite tariffs threat
https://www.straitstimes.com/business/economy/top-bankers-see-us-economy-as-bright-spot-under-trump-despite-tariffs-threat
Trump’s big promise to reach peace deal with Putin to end Ukraine war is questionable
https://www.businesstimes.com.sg/international/trumps-big-promise-reach-peace-deal-putin-end-ukraine-war-questionable
Prosecutor fights Trump bid to throw out hush money conviction
https://www.businesstimes.com.sg/international/prosecutor-fights-trump-bid-throw-out-hush-money-conviction
https://www.channelnewsasia.com/world/prosecutors-suggest-sparing-trump-prison-sentence-hush-money-case-4798981
US inflation data to show fourth consecutive month of firm gains
https://www.businesstimes.com.sg/international/us-inflation-data-show-fourth-consecutive-month-firm-gains
US small business sentiment nears 3½ year high in November
https://www.businesstimes.com.sg/international/us-small-business-sentiment-nears-31-2-year-high-november
US labour costs revised down in sign of easing inflation pressure
https://www.businesstimes.com.sg/international/us-labour-costs-revised-down-sign-easing-inflation-pressure
US households’ views of finances are brightest since early 2020
https://www.businesstimes.com.sg/international/us-households-views-finances-are-brightest-early-2020
UBS reorganises US wealth management unit in growth push
https://www.businesstimes.com.sg/companies-markets/banking-finance/ubs-reorganises-us-wealth-management-unit-growth-push
Billionaires are most upbeat on opportunities in North America, less so on Asia-Pacific
https://www.straitstimes.com/business/banking/billionaires-are-most-optimistic-about-opportunities-in-north-america-less-so-on-asia-pacific
Asian economies resilient enough to endure turbulence: IMF
https://www.businesstimes.com.sg/international/asian-economies-resilient-enough-endure-turbulence-imf
https://www.straitstimes.com/business/economy/asian-economies-resilient-enough-to-endure-turbulence-imf-says
Australia business conditions worst since pandemic: survey
https://www.businesstimes.com.sg/international/australia-business-conditions-worst-pandemic-survey
China’s exports slow sharply, imports shrink ahead of Trump tariffs
https://www.businesstimes.com.sg/international/global/chinas-exports-slow-sharply-imports-shrink-ahead-trump-tariffs
https://www.straitstimes.com/business/economy/chinas-export-growth-slows-sharply-imports-shrink-ahead-of-trump-tariffs
https://www.channelnewsasia.com/business/chinas-exports-slow-sharply-imports-shrink-ahead-trump-tariffs-4797406
China’s ‘hidden infrastructure’, tech upgrades to empower investment potential
https://www.scmp.com/economy/china-economy/article/3290179/chinas-hidden-infrastructure-tech-upgrades-empower-investment-potential
China consumer spending to rise in 2025, but only modestly, Bain and Kantar say
https://www.scmp.com/business/china-business/article/3290209/china-consumer-spending-rise-2025-only-modestly-bain-and-kantar-say
Hong Kong has slashed liquor tax but can it take on trade hubs like Singapore?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3290178/hong-kong-has-slashed-liquor-tax-can-it-take-trade-hubs-singapore
Swire Properties sees robust demand for flats at first mainland China residential project
https://www.scmp.com/business/china-business/article/3290123/swire-properties-reports-robust-demand-flats-its-first-mainland-residential-project
Japan’s wholesale inflation rises in November
https://www.channelnewsasia.com/business/japans-wholesale-inflation-rises-november-4799596
https://www.businesstimes.com.sg/international/japans-wholesale-inflation-rises-november
Malaysia’s October industrial production up 2.1%, below forecast
https://www.channelnewsasia.com/business/malaysias-october-industrial-production-up-21-below-forecast-4797441
NYC’s five-star Pierre Hotel near Central Park is on the market
https://www.businesstimes.com.sg/property/nycs-five-star-pierre-hotel-near-central-park-market
San Francisco, Paris named best cities for urban transportation
https://www.businesstimes.com.sg/international/san-francisco-paris-named-best-cities-urban-transportation
UK pledges to cut government spending waste
https://www.businesstimes.com.sg/international/uk-pledges-cut-government-spending-waste
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.