Singapore Real Estate
Lumina Grand EC to open for e-applications on Jan 12; prices from $1.338 mil
City Developments Ltd (CDL) is launching Lumina Grand, the first executive condo (EC) project of the year. In a Jan 10 press release, the developer says the EC, located in Bukit Batok West, will open for e-applications from Jan 12 to 22, with sales bookings commencing on Jan 27.
https://www.edgeprop.sg/property-news/lumina-grand-ec-open-e-applications-jan-12-prices-1338-mil
https://www.businesstimes.com.sg/property/cdl-far-east-kick-years-new-launches-lumina-grand-ec-hillhaven-condo
Far East Organization to launch Hillhaven on Jan 20; prices from $1,907 psf
Far East Organization and its joint-venture partner, Sekisui House, will launch Hillhaven, their 341-unit residential project in District 23’s Hillview area, for sale on Jan 20. The development, which opened for preview last week, saw over 2,000 sales gallery visitors during its first preview weekend of Jan 5 to 7.
https://www.edgeprop.sg/property-news/far-east-organization-launch-hillhaven-jan-20-prices-1907-psf
https://www.businesstimes.com.sg/property/cdl-far-east-kick-years-new-launches-lumina-grand-ec-hillhaven-condo
Singapore Economy
PM Lee to visit Johor for signing of agreement on JB-Singapore special economic zone, RTS Link ceremony
Prime Minister Lee Hsien Loong will make an official visit to Johor on Thursday (Jan 11) to witness the signing of a Memorandum of Understanding (MOU) on the Johor-Singapore special economic zone.
https://www.channelnewsasia.com/singapore/pm-lee-hsien-loong-johor-visit-special-economic-zone-rts-link-ceremony-anwar-4036801
https://www.businesstimes.com.sg/international/pm-lee-visit-johor-attend-rapid-transit-system-link-commemorative-ceremony
https://www.straitstimes.com/singapore/pm-lee-on-official-visit-to-johor-on-jan-11
https://www.todayonline.com/singapore/pm-lee-visit-johor-signing-agreement-jb-singapore-special-economic-zone-rts-link-ceremony-2339661
SCCCI hopes Budget 2024 will help SMEs with costs, financing and sustainability
Rental reductions or freezes for government properties and a higher corporate income tax rebate threshold are some ways that Budget 2024 can help companies cope with rising costs, said the Singapore Chinese Chamber of Commerce and Industry (SCCCI).
https://www.businesstimes.com.sg/singapore/smes/sccci-hopes-budget-2024-will-help-smes-costs-financing-and-sustainability
https://www.straitstimes.com/business/companies-markets/sccci-calls-on-the-government-to-help-reduce-business-costs-in-budget-wish-list
https://www.theedgesingapore.com/news/budget-2024/scccis-recommendations-budget-2024-aimed-helping-local-businesses
Annual spending plan must keep sights on long-term issues such as climate change
Singapore’s businesses and households may all be hoping for some near-term relief in Budget 2024; but the government’s annual spending plan should also address longer-term threats such as climate change, competition for foreign investment, and social inequality.
https://www.businesstimes.com.sg/opinion-features/annual-spending-plan-must-keep-sights-long-term-issues-such-climate-change
Companies’ Brief
Frasers Property majority owners could sell company, assets amid review: WSJ
The majority owners of Frasers Property could put the company or some of its assets up for sale as part of a strategic review, reported The Wall Street Journal (WSJ) on Wednesday (Jan 10).
https://www.businesstimes.com.sg/companies-markets/frasers-property-majority-owners-could-sell-company-assets-amid-review-wsj
https://www.theedgesingapore.com/news/company-news/frasers-property-owners-may-sell-company-part-strategic-review-wsj
Soilbuild units clinch S$24.3 million in new construction contracts
Two units of Soilbuild Construction Group have bagged S$24.3 million in new contracts, the company said in a bourse filing on Wednesday (Jan 10). Soil-Build, a wholly-owned subsidiary, has been awarded a construction contract by SB (2TS) Investment for demolition and piling works for a multi-user industrial development at Tuas South Avenue.
https://www.businesstimes.com.sg/companies-markets/soilbuild-units-clinch-s243-million-new-construction-contracts
https://www.straitstimes.com/business/companies-markets/soilbuild-units-clinch-243-million-in-new-construction-contracts
https://www.theedgesingapore.com/news/contracts/soilbuild-construction-awarded-243-mil-contracts-starting-1q2024
Global Economy & Real Estate
Global unemployment seen rising modestly in 2024: UN
https://www.businesstimes.com.sg/international/global/global-unemployment-seen-rising-modestly-2024-un
https://www.channelnewsasia.com/world/global-unemploymnt-worsen-2024-4037721
Sustainable homes, AI will drive the luxury housing market in 2024
https://www.businesstimes.com.sg/property/sustainable-homes-ai-will-drive-luxury-housing-market-2024
US inflation set to fade in 2024 as goods prices keep falling
https://www.businesstimes.com.sg/international/us-inflation-set-fade-2024-goods-prices-keep-falling
US home-purchase applications increase in first week of 2024
https://www.businesstimes.com.sg/property/us-home-purchase-applications-increase-first-week-2024
Australia’s sharp inflation slowdown reinforces view RBA hike-cycle is over
https://www.businesstimes.com.sg/international/australias-sharp-inflation-slowdown-reinforces-view-rba-hike-cycle-over
Canadian banks confident mortgage holders can cope with loan renewals
https://www.businesstimes.com.sg/property/canadian-banks-confident-mortgage-holders-can-cope-loan-renewals
Toronto’s downtown office vacancy hits record with more supply
https://www.businesstimes.com.sg/property/torontos-downtown-office-vacancy-hits-record-more-supply
China’s economy holds ‘real potential’ in 2024, think tank predicts upbeat 5.3% GDP growth
https://www.scmp.com/economy/economic-indicators/article/3247925/chinas-economy-holds-real-potential-2024-think-tank-predicts-upbeat-53-gdp-growth
China’s central government likely to pitch in as localities attempt to untangle debt knots
https://www.scmp.com/economy/china-economy/article/3247950/chinas-central-government-likely-pitch-localities-attempt-untangle-debt-knots
Eurozone facing weak growth, possible recession: ECB vice-president
https://www.businesstimes.com.sg/international/eurozone-facing-weak-growth-possible-recession-ecb-vice-president
German wholesalers sound alarm as sentiment ‘on the floor’
https://www.businesstimes.com.sg/international/german-wholesalers-sound-alarm-sentiment-floor
German tech sector expected to outperform ailing economy in 2024
https://www.channelnewsasia.com/business/german-tech-sector-expected-outperform-ailing-economy-2024-study-4037376
German housing slump makes builders more pessimistic than ever
https://www.businesstimes.com.sg/property/german-housing-slump-makes-builders-more-pessimistic-ever
‘Limit their numbers’: Malaysia’s scammed, jobless migrant workers problem highlights its foreign labour dependence
https://www.channelnewsasia.com/asia/malaysia-foreign-worker-dependence-jobs-labour-4034881
Thai PM tells central bank chief ‘people are suffering’ from high rates
https://www.businesstimes.com.sg/international/thai-pm-tells-central-bank-chief-people-are-suffering-high-rates
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.