Singapore Real Estate
There are sound reasons for having more multi-owner strata office spaces
Constructed in the 1990s, Suntec City is a major mixed-use development comprising a mall, office buildings and a convention centre. Viewed aerially, its five office buildings and convention centre look like a left hand. The development’s Fountain of Wealth appears like a golden ring in the palm of the hand.
https://www.businesstimes.com.sg/opinion-features/there-are-sound-reasons-having-more-multi-owner-strata-office-spaces
Woodlands, Sin Ming flats most popular among first-timers in December BTO exercise
Singapore – Four- and five-room flats in Woodlands, and four-room flats in Sin Ming were the most popular among first-timer families in the latest Build-To-Order (BTO) sales exercise.
https://www.straitstimes.com/singapore/housing/woodlands-sin-ming-flats-most-popular-among-first-timers-in-december-bto-exercise
https://www.businesstimes.com.sg/property/first-timers-median-application-rate-below-one-december-bto-exercise
Companies’ Brief
GIC to buy out partner to become majority shareholder of reinsurance broker Miller
Singapore’s GIC has agreed to buy out its partner’s stake in UK specialist insurance and reinsurance broker Miller. After acquiring the shares from private equity firm Cinven, GIC will become the majority shareholder of Miller, GIC and Miller said on Monday (Dec 11).
https://www.businesstimes.com.sg/companies-markets/gic-buy-out-partner-become-majority-shareholder-reinsurance-broker-miller
Wing Tai acquires Melbourne property for A$28 million
Property group Wing Tai Holdings said its wholly-owned subsidiary, Wincrown, has acquired a property in Melbourne, Australia, for A$28 million (S$24.7 million). The property – 11-27 Tavistock Place, Melbourne, Victoria 3000 – is a substation site located in the Melbourne central business district.
https://www.businesstimes.com.sg/companies-markets/wing-tai-acquires-melbourne-property-a28-million
https://www.theedgesingapore.com/news/company-news/wing-tai-holdings-acquires-melbourne-property-a28-mil
Views, Reviews Forum and Others
Almost 300 victims lost at least S$1.8 million to rental scams from July-November 2023
Some 287 victims lost at least S$1.8 million to scammers posing as property agents between July and November 2023, said the Singapore Police Force (SPF). In a statement on Monday (Dec 11), SPF noted a resurgence of a scam variant that involves the impersonation of registered property agents, where victims were pressured by fake agents into making payments to secure the viewing or rental of properties.
https://www.businesstimes.com.sg/singapore/almost-300-victims-lost-least-s18-million-rental-scams-july-november-2023
https://www.straitstimes.com/singapore/at-least-18m-lost-through-rental-scams-from-july-to-november-police
https://www.channelnewsasia.com/singapore/police-rental-scams-fake-property-agents-impersonation-apartment-viewings-3980636
Covid-19 patients with mild symptoms urged to visit clinics to ease hospital bed crunch
Singapore – Public hospitals are urging individuals with mild to moderate symptoms of Covid-19 to visit a general practitioner clinic or polyclinic near their home.
https://www.straitstimes.com/singapore/go-to-the-gp-polyclinic-if-covid-19-symptoms-are-mild-stop-hospital-bed-crunch
https://www.todayonline.com/singapore/singapore-hospitals-remaining-vigilant-ready-respond-changing-needs-amid-rise-covid-19-cases-2323091
https://www.channelnewsasia.com/singapore/covid-19-singapore-hospitals-remaining-vigilant-ready-respond-changing-needs-nuhs-singhealth-3979656
Public should not hoard ART kits; pharmacies and stores have sufficient supply: MOH
Singapore – The Ministry of Health (MOH) has urged the public not to hoard antigen rapid test (ART) kits as Covid-19 cases spike here. Retailers and pharmacies here have a sufficient supply and have placed fresh orders to meet growing demand, said MOH in a statement on Dec 11.
https://www.straitstimes.com/singapore/public-should-not-hoard-art-kits-pharmacies-and-stores-have-sufficient-supply-moh
https://www.channelnewsasia.com/singapore/covid19-art-kits-sufficient-supplies-moh-3980391
Global Economy & Real Estate
Global trade to drop 5% this year amid geopolitical headwinds
https://www.theedgesingapore.com/news/global-economy/global-trade-drop-5-year-amid-geopolitical-headwinds
Australia business mood darkens as activity slows: survey
https://www.businesstimes.com.sg/international/australia-business-mood-darkens-activity-slows-survey
To stabilise China’s economy, Beijing corrects course on policy, from carbon cuts to common prosperity
https://www.scmp.com/economy/china-economy/article/3244703/stabilise-chinas-economy-beijing-corrects-course-policy-carbon-cuts-common-prosperity
China makes plans to boost domestic and foreign trade
https://www.businesstimes.com.sg/international/china-makes-plans-boost-domestic-and-foreign-trade
World’s newest haven for billionaires is a skyscraper-studded emirate
https://www.straitstimes.com/business/world-s-newest-haven-for-billionaires-is-a-skyscraper-studded-emirate
German housing crisis deepens as slump in new orders hits record
https://www.businesstimes.com.sg/property/german-housing-crisis-deepens-slump-new-orders-hits-record
Hong Kong, Singapore prime property to see contrasting fortunes as luxury homes globally set to trend higher in 2024
https://www.scmp.com/business/article/3244691/hong-kong-singapore-prime-property-see-contrasting-fortunes-luxury-homes-globally-set-trend-higher
Hong Kong officials cut estimated price tag for 30,000 temporary flats by another HK$1.69 billion
https://www.scmp.com/news/hong-kong/society/article/3244704/hong-kong-officials-cut-estimated-price-tag-30000-temporary-flats-another-hk169-billion
Hong Kong home prices down 20% from historical peak, rebound hinged on US interest rate cuts
https://www.scmp.com/business/article/3244543/hong-kong-home-prices-down-20-historical-peak-rebound-hinged-us-interest-rate-cuts
Sportswear maker Li Ning shares tumble as investors against HK$2.2 billion property bet
https://www.businesstimes.com.sg/property/sportswear-maker-li-ning-shares-tumble-investors-against-hk22-billion-property-bet
https://www.scmp.com/business/article/3244619/mainland-chinas-li-ning-buys-henderson-lands-harbour-east-us282-million-house-its-hong-kong
Japan wholesale inflation slows sharply in November on easing cost pressure
https://www.channelnewsasia.com/business/japan-wholesale-inflation-slows-sharply-november-easing-cost-pressure-3981931
Malaysia’s October industrial production up 2.7%, exceeds forecast
https://www.businesstimes.com.sg/international/asean/malaysias-october-industrial-production-27-exceeds-forecast
South Korea sees risks to financial firms from overseas property
https://www.businesstimes.com.sg/international/south-korea-sees-risks-financial-firms-overseas-property
Thai tycoon leads US$100 million fund for South-east Asia property
https://www.businesstimes.com.sg/international/asean/thai-tycoon-leads-us100-million-fund-south-east-asia-property
https://www.straitstimes.com/business/thai-tycoon-leads-134-million-fund-for-south-east-asia-property
UK PM Sunak battles to unite divided party in pivotal week
https://www.businesstimes.com.sg/international/uk-pm-sunak-battles-unite-divided-party-pivotal-week
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