Singapore Real Estate / Built Environment
‘Energy-intensive’ buildings must improve efficiency or face fines of up to S$150,000
Existing buildings that are deemed energy-intensive must implement measures to improve their energy use or face a fine of up to S$150,000. This was one of the changes made to the Building Control Act passed in Parliament on Tuesday (Sep 10).
https://www.businesstimes.com.sg/property/energy-intensive-buildings-must-improve-efficiency-or-face-fines-s150000
https://www.straitstimes.com/singapore/politics/owners-of-energy-intensive-buildings-must-reduce-energy-consumption-under-changes-to-law
https://www.zaobao.com.sg/news/singapore/story20240911-4682205
Singapore office floor in Orchard Road sells for record rate
An office floor in a building in Singapore’s Orchard Road is being sold for a record rate, in a sign of continued investor interest in the city-state’s prime market.
https://www.businesstimes.com.sg/property/singapore-office-floor-orchard-road-sells-record-rate
https://www.scmp.com/news/asia/southeast-asia/article/3277971/singapores-record-setting-us24-million-office-sale-orchard-road-signals-investor-interest
Singapore ranks fourth in Apac for office-leasing activity by legal firms in H1
Singapore has come in fourth in the Asia-Pacific region for office-leasing activity by legal firms in the first half of 2024, indicated a report released by property consultancy Savills on Tuesday (Sep 10).
https://www.businesstimes.com.sg/property/singapore-ranks-fourth-apac-office-leasing-activity-legal-firms-h1-savills
Business News
Mapletree Logistics Trust to sell three warehouses in Malaysia for RM157.5 million
The manager of Mapletree Logistics Trust (MLT) announced on Tuesday (Sep 10) its proposal to divest three warehouse properties in Malaysia for RM157.5 million (S$47.7 million).
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-sell-three-warehouses-malaysia-rm157-5-million
https://www.theedgesingapore.com/news/property/mlt-divest-three-malaysian-properties-rm1575-mil
Sabana Reit confirms first tenant at new Tuas warehouse
The manager of Sabana Industrial Real Estate Investment Trust (Reit) announced on Tuesday (Sep 10) that it had secured its first tenant to occupy the newly completed Sabana@1TA4 building, which is located at 1 Tuas Avenue 4.
https://www.businesstimes.com.sg/companies-markets/sabana-reit-confirms-first-tenant-new-tuas-warehouse
https://www.theedgesingapore.com/news/property/sabana-industrial-reit-signs-first-tenant-sabana1ta4
Global Economy & Real Estate
Biggest US banks’ capital hike chopped in half in latest plan by regulators
https://www.businesstimes.com.sg/companies-markets/banking-finance/biggest-us-banks-capital-hike-chopped-half-latest-plan-regulators
US small business sentiment ebbs in August amid rising uncertainty
https://www.businesstimes.com.sg/international/us-small-business-sentiment-ebbs-august-amid-rising-uncertainty
https://www.theedgesingapore.com/news/us-economy/us-small-business-optimism-declines-most-over-two-years
Real US household income increases for first time in four years
https://www.businesstimes.com.sg/international/real-us-household-income-increases-first-time-four-years
Australia business conditions hit 2½ year lows in August as job outlook worsens
https://www.businesstimes.com.sg/international/australia-business-conditions-hit-21-2-year-lows-august-job-outlook-worsens
Australia’s tight labour market set to ease, central bank says
https://www.businesstimes.com.sg/international/australias-tight-labour-market-set-ease-central-bank-says
Canada signals further tariffs on Chinese tech, minerals
https://www.businesstimes.com.sg/international/canada-signals-further-tariffs-chinese-tech-minerals
China’s exports top forecasts, but imports disappoint amid weak domestic demand
https://www.straitstimes.com/business/china-s-exports-top-forecasts-but-imports-disappoint-amid-weak-domestic-demand
China’s unworkable housing rescue math is prolonging the crisis
https://www.businesstimes.com.sg/international/global/chinas-unworkable-housing-rescue-math-prolonging-crisis
https://www.straitstimes.com/business/china-s-unworkable-housing-rescue-math-is-prolonging-the-crisis
https://www.bloomberg.com/news/articles/2024-09-10/china-s-unworkable-housing-rescue-math-is-prolonging-the-crisis
China’s housing woes push Vanke, Long for deeper into distress
https://www.businesstimes.com.sg/property/chinas-housing-woes-push-vanke-longfor-deeper-distress
China builders Sunac, Logan mull local debt restructuring plans
https://www.businesstimes.com.sg/property/china-builders-sunac-logan-mull-local-debt-restructuring-plans
China approves first domestic mpox vaccine for clinical trials
https://www.channelnewsasia.com/east-asia/china-first-mpox-vaccine-clinical-trial-4598216
Dell says job cuts will continue with margins under pressure
https://www.straitstimes.com/business/dell-says-job-cuts-will-continue-with-margins-under-pressure
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/dell-says-job-cuts-will-continue-margins-under-pressure
Saudi Arabia’s Vision 2030 projects reach US$1.3 trillion in value
https://www.businesstimes.com.sg/property/saudi-arabias-vision-2030-projects-reach-us1-3-trillion-value
South Korea jobless rate falls in August to record low
https://www.channelnewsasia.com/business/south-korea-jobless-rate-falls-august-record-low-4600091
Thai household debt at record high amid sluggish economy, survey shows
https://www.businesstimes.com.sg/international/asean/thai-household-debt-record-high-amid-sluggish-economy-survey-shows
https://www.channelnewsasia.com/asia/thai-household-debt-record-high-amid-sluggish-economy-survey-shows-4598436
UK grocery inflation resumes downward trend, says Kantar
https://www.businesstimes.com.sg/international/uk-grocery-inflation-resumes-downward-trend-says-kantar
BOE’s Breeden says relaxing bank regulations could boost growth
https://www.businesstimes.com.sg/international/boes-breeden-says-relaxing-bank-regulations-could-boost-growth
UK property portal Rightmove rejects £5.6 billion takeover offer from Murdoch’s REA Group
https://www.businesstimes.com.sg/companies-markets/uk-property-portal-rightmove-rejects-ps5-6-billion-takeover-offer-murdochs-rea-group
Tourism, factories reeling as Typhoon Yagi wreaks havoc in northern Vietnam
https://www.businesstimes.com.sg/international/asean/tourism-factories-reeling-typhoon-yagi-wreaks-havoc-northern-vietnam
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