The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 12 Apr 2023 (Wed)

Singapore Real Estate


Singapore will update housing, planning strategies to reflect current concerns: Desmond Lee
Singapore – Singapore will update its housing and planning strategies to reflect the concerns and aspirations of the times, and translate these into detailed plans in the upcoming master plan, said National Development Minister Desmond Lee.


Tanjong Katong walk-up apartments attempt collective sale again with lower price of S$63 million
A Tanjong Katong apartment block, comprising 26 units, has been relaunched for collective sale at a lower asking price of S$63 million.  Located in District 15, 56 to 62H Tanjong Katong Road was first put up for sale with an indicative price of S$65.5 million in July 2022.


Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil
Singapore (EdgeProp) – Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been launched for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.


Liberty House at 51 Club Street being sold for S$92.2 million
Liberty House, a five-storey corner office building at 51 Club Street, is being sold for S$92.2 million to a Singapore incorporated company wholly owned by a Chinese citizen who is also a Singapore permanent resident.



Singapore Economy


Trust, shared values key amid 4G leadership transition, which is ‘well under way’: President Halimah
Singapore – The transition to Singapore’s fourth generation (4G) of leaders is well under way, with the team having worked well together and proven its ability and grit through the handling of the Covid-19 crisis, said President Halimah Yacob on Monday.


Govt needs to ‘rethink approach’ to education and work so that advantages, privileges don’t become entrenched: President Halimah
Singapore — While meritocracy has long been the “organising principle” of Singapore society, the Government needs to rethink its approach to education and work so that advantages and privileges do not become entrenched and persist over generations, President Halimah Yacob said on Monday (April 10).



Companies’ Brief


Lian Beng’s Ong family makes privatisation offer at S$0.62 per share, less than half of NAV
Mainboard-listed Lian Beng’s controlling Ong family, through investment holding company OSC Capital, has made a voluntary unconditional cash offer to buy out minority shareholders at 62 Singapore cents a share.


‘Buy’ data centre S-REITs while they are under pressure from distressed tenant: DBS
Data centre Singapore REITs (S-REITs) are under pressure from recent headwinds, as concerns on one technology tenant’s financial health made headlines for its supposed impact on several names here.



Global Economy & Real Estate


US Fed officials signal divide over whether to hike rates again 


Central banks should continue inflation fight despite stability risks, warns IMF


UK to see worst economic performance among G7 peers in 2023: IMF


IMF warns it’s too soon to sound all-clear on financial turmoil


New Zealand sees record-low house sales as buyers sidelined


Swedes signal the worst of housing price rout is in the past


Australian economy not immune to global slowdown: treasurer


Australia’s new city tackles climate change from the ground up


Rocky start but market outlook is positive, with Asia poised to benefit from China reopening


China consumer inflation falls below 1% in March


Japan’s MUFG sets emissions targets for real estate, shipping, steel


Malaysia’s industrial production surprises with 3.6% growth in February



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