Singapore Real Estate / Built Environment
Singapore and Johor Regent swop prime Holland Road land plots as royal family eyes development
The government has agreed to swop an 8.5-hectare (ha) (about 900,000 sq ft) state land parcel along Holland Road for a 13-ha plot in the same area belonging to the Regent of Johor (ROJ), His Royal Highness Tunku Ismail. The land swop agreement comes as the ROJ plans to develop his land, said the Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) in a joint statement on Tuesday (Jun 10).
United House relaunched for sale at S$166 million
United House, a freehold commercial development in the Orchard Road area, has been put up for collective sale again with an unchanged reserve price of S$166 million. This time, the Urban Redevelopment Authority (URA) has granted in-principal approval for the building to be redeveloped for hotel use, with the same gross plot ratio of 4.9.
https://www.businesstimes.com.sg/property/united-house-relaunched-sale-s166-million
Upper Serangoon shopping centre tender deadline extended by three months to early September
The tender for the sale of Upper Serangoon Shopping Centre and an adjacent site was originally scheduled to close at 3pm on Tuesday (June 10). However, CBRE, the company responsible for the sales, announced on the same day that the deadline for the tender would be extended to 3pm on September 9.
https://www.zaobao.com.sg/realtime/singapore/story20250610-6659224
Will deglobalisation and business uncertainty hurt buying power in Good Class Bungalow properties?
Owning a detached home in a Good Class Bungalow (GCB) Area is arguably the ultimate status symbol for the super-rich in land-scarce Singapore. Located in leafy residential enclaves, these homes can be great for living and entertaining. They are also good stores of value, enabling owners to potentially enjoy robust capital appreciation.
Singapore News
Employers in Singapore see more hirings and firings in Q3, says ManpowerGroup
Singapore’s hiring outlook is mixed for the third quarter of 2025, with more employers planning to hire, but also expecting to see a reduction in their workforce, according to a survey by employment agency ManpowerGroup.
Teo Chee Hean resigns from GIC board
Former senior minister Teo Chee Hean will resign from GIC’s board of directors and from his role as chairman of the GIC International Advisory Board, with effect from Jun 30. Teo, 70, has served on the board of Singapore’s sovereign wealth fund for 14 years, GIC said on Tuesday (Jun 10).
https://www.businesstimes.com.sg/singapore/teo-chee-hean-resigns-gic-board
https://www.channelnewsasia.com/singapore/teo-chee-hean-resigns-gic-board-directors-5172461
https://www.zaobao.com.sg/realtime/singapore/story20250610-6659810
Business News
Consortium’s privatisation offer for Amara closes with 97.74% valid acceptances
The privatisation offer for hotel and property group Amara finally succeeded on Tuesday (Jun 10), with valid acceptances representing 97.74 per cent of the total shares.
https://www.zaobao.com.sg/realtime/singapore/story20250610-6666381
DBS becomes first Singapore-listed company to top US$100 billion in market value
DBS Group Holdings became the first listed company in Singapore to top US$100 billion (S$129 billion) in market value, helped by a weaker US dollar that amplified gains on the local stock market.
Singapore’s Frasers ties up with Britain’s Yotel in first development project in Japan
Singapore’s Frasers Hospitality and Britain-based lifestyle hotel chain Yotel on June 9 celebrated several firsts with the official opening of the 244-room Yotel Tokyo Ginza.
Ho Bee Land shares surge after Chua Thian Poh buys spark talk of privatisation plan
Shares of Ho Bee Land jumped more than 5 per cent on Tuesday (Jun 10) after the company said founder and executive chairman Chua Thian Poh upped his stake in the real estate company over the weekend.
https://www.zaobao.com.sg/realtime/singapore/story20250610-6658198
Keppel Infrastructure Trust to divest 24.6% stake in Australian bus service business for A$130 million
Keppel Infrastructure Fund Management, the manager of Keppel Infrastructure Trust, is divesting a 24.6 per cent stake in an Australian bus service business, Ventura Motors, for A$130 million (S$109 million).
https://www.zaobao.com.sg/realtime/singapore/story20250610-6663048
Global Economy / Real Estate News
World Bank slashes global growth forecast as trade tensions bite
US, China reach framework deal to ease export restrictions
https://www.channelnewsasia.com/world/us-china-reach-framework-deal-ease-export-restrictions-5173851
Australia business activity stalls in May as retailers squeezed: survey
Blackstone plans US$500 billion Europe investment: CEO
https://www.businesstimes.com.sg/international/blackstone-plans-us500-billion-europe-investment-ceo
China-led deflation looms as Thailand, Indonesia and Malaysia see declining inflation
China taps pool of funds worth 10.9 trillion yuan to prop up housing market
How US-China tensions are reshaping Hong Kong’s future as a global hub
Pressured by US tariffs, Chinese exports expand in Vietnam, Thailand, Indonesia
First batch of flats in NWD-led Deep Water Pavilia goes on sale on Saturday
Bank of Japan vows to keep raising rates if underlying inflation accelerates
Japan’s wholesale inflation slows, taking pressure off BOJ
https://www.businesstimes.com.sg/international/japans-wholesale-inflation-slows-taking-pressure-boj
‘Must earn a living like ordinary Malaysians’: Johor royals’ business empire spans real estate, telco and more
Thai tech services outlook remains positive amid recession fears: analyst
UK employment drops most since 2020 and wage growth cools
https://www.businesstimes.com.sg/international/uk-employment-drops-most-2020-and-wage-growth-cools
UK’s Reeves to make £2 trillion bet on ‘Britain’s renewal’
https://www.businesstimes.com.sg/international/uks-reeves-make-ps2-trillion-bet-britains-renewal
All the wrong moves for British homeowners
https://www.businesstimes.com.sg/property/all-wrong-moves-british-homeowners
Vietnam attracts global manufacturers despite US tariff increases
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