Singapore Real Estate
URA looking into use of Three Arrows co-founder Zhu Su’s GCB by urban farming company
Singapore – The Urban Redevelopment Authority (URA) is looking into the activities being carried out at a Good Class Bungalow (GCB) linked to Zhu Su, co-founder of failed crypto fund Three Arrows Capital.
https://www.straitstimes.com/business/ura-looking-into-use-of-zhu-su-s-gcb-by-urban-farming-company
Bigger flats in Choa Chu Kang, Tengah most popular among first-timers in Oct BTO exercise
Singapore – Larger flats in Choa Chu Kang and Tengah have emerged as the most popular for first-timer families among those launched in the latest Build-To-Order (BTO) sales exercise.
https://www.straitstimes.com/singapore/housing/bigger-flats-in-choa-chu-kang-tengah-draw-most-interest-in-oct-bto-exercise
‘Underwhelming’ application rate of 1.4 for October BTO exercise as new non-selection penalty kicks in
Singapore — The Build-to-Order (BTO) sales exercise for October saw an overall application rate of about 1.4 times its available supply, a few hours before applications for flats were slated to close on Tuesday (Oct 10) night.
https://www.todayonline.com/singapore/underwhelming-application-rate-14-october-bto-exercise-new-non-selection-penalty-kicks-2278251
https://www.edgeprop.sg/property-news/october-2023-bto-exercise-sees-underwhelming-response
Singapore Economy
GIC must tap new opportunities in changing world: DPM Wong
New York – Singapore’s sovereign wealth fund GIC must grasp new opportunities in a changing world of stubbornly high interest rates and sharp-edged geopolitics, said Deputy Prime Minister and Minister for Finance Lawrence Wong after attending the fund’s closed-door meetings.
https://www.straitstimes.com/world/united-states/gic-must-tap-new-opportunities-in-changing-world-dpm-wong
Singapore is fighting rising seas to save S$70 billion in real estate
During a half-century of independence, Singapore has fought to expand its territory, inch by hard-won inch. On the tip of the Malaysian peninsula, the island city-state piled up sand to expand its coastline and reclaim land from the sea.
https://www.businesstimes.com.sg/esg/singapore-fighting-rising-seas-save-s70-billion-real-estate
Singaporeans living in Israel and Palestinian Territories should leave as soon as possible: MFA
Singaporeans living in Israel and the Palestinian Territories should leave as soon as possible via commercial options, the Ministry of Foreign Affairs (MFA) said on Tuesday (Oct 10), stepping up an earlier advisory.
https://www.channelnewsasia.com/singapore/israel-hamas-gaza-singaporeans-should-leave-soon-possible-mfa-3834476
Views, Reviews Forum and Others
Condo management turns to court to get resident to remove unauthorised mezzanine attics, but fails
Singapore: When the management corporation (MCST) of a condominium discovered that a couple had unauthorised mezzanine attics built in their unit, it took them to court to compel them to remove the structures and to pay damages.
https://www.channelnewsasia.com/singapore/summit-condo-sue-architect-mezzanine-attic-built-fail-court-3834301
Two property agents fined for marketing empty BTO flats that didn’t meet 5-year MOP rule
Singapore – Two property agents have been fined for marketing Build-To-Order (BTO) flats that did not fulfil their five-year minimum occupation period (MOP).
https://www.straitstimes.com/singapore/housing/two-property-agents-fined-for-marketing-empty-bto-flats-that-didn-t-meet-5-year-mop-rule
Man falls 10 storeys in fatal workplace accident at Sembawang BTO site
Singapore — A construction worker at a Housing and Development Board (HDB) worksite died after being struck by a material waste bucket and falling 10 storeys to the ground on Monday (Oct 9).
https://www.todayonline.com/singapore/man-falls-10-storeys-fatal-workplace-accident-sembawang-bto-site-2278716
https://www.straitstimes.com/singapore/worker-dies-after-falling-10-storeys-in-accident-at-sembawang-bto-site
Forecast of rain should keep Singapore’s haze situation ‘subdued’ on Oct 11: NEA
Singapore — Wet weather should lower the chances of haze in Singapore on Wednesday (Oct 11), with showers forecast over the country and the surrounding region. “The wetter conditions should keep the regional fire and haze situation subdued, with a low likelihood of transboundary haze affecting Singapore,” said the National Environment Agency (NEA) in its daily haze advisory.
https://www.todayonline.com/singapore/forecast-rain-should-keep-singapores-haze-situation-subdued-oct-11-nea-2278691
Global Economy & Real Estate
LVMH Q3 revenue rises 9%, slowing from post-pandemic frenzy
https://www.businesstimes.com.sg/companies-markets/consumer-healthcare/lvmh-q3-revenue-rises-9-slowing-post-pandemic-frenzy
Federal Reserve ‘on track’ to avoid recession, official says
https://www.businesstimes.com.sg/companies-markets/banking-finance/federal-reserve-track-avoid-recession-official-says
IMF warns of inflation’s tenacity, weaker global growth in 2024
https://www.theedgesingapore.com/news/global-economy/imf-warns-inflations-tenacity-weaker-global-growth-2024
IMF says global economy ‘limping along’, cuts growth forecast for China, euro zone
https://www.straitstimes.com/business/economy/imf-says-global-economy-limping-along-cuts-growth-forecast-for-china-euro-zone
As China’s economy slows, Hong Kong aims to rebuild its international image
https://www.businesstimes.com.sg/international/global/chinas-economy-slows-hong-kong-aims-rebuild-its-international-image
Most Chinese remain unwilling to buy homes: Morgan Stanley
https://www.businesstimes.com.sg/property/most-chinese-remain-unwilling-buy-homes-morgan-stanley
China developer Kaisa says creditors will get less than 5% back if liquidated
https://www.straitstimes.com/business/china-developer-kaisa-says-creditors-will-get-less-than-5-back-if-liquidated
Germany to have 5 billion euros extra budget leeway in 2024
https://www.businesstimes.com.sg/international/germany-have-5-billion-euros-extra-budget-leeway-2024
Hong Kong’s affluent become millionaires by the age of 33 on average, wary about property as store of wealth, HSBC survey finds
https://www.scmp.com/business/banking-finance/article/3237470/hong-kongs-affluent-become-millionaires-age-33-average-wary-about-property-store-wealth-survey-finds
Japan’s manufacturers’ sentiment weighed by overseas risks – Reuters Tankan
https://www.channelnewsasia.com/business/japans-manufacturers-sentiment-weighed-overseas-risks-reuters-tankan-3836396
UK developer Berkeley takes a punt on Causeway Bay space once occupied by Gucci and La Perla, launches pop-up to sell homes in London, Kent
https://www.scmp.com/business/article/3237107/uk-developer-berkeley-takes-punt-causeway-bay-space-once-occupied-gucci-and-la-perla-launches-pop
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