Singapore Real Estate
PGIM Real Estate to begin strata sales at 108 Robinson Road in Q1 2024
Riding on the strong demand for strata offices, PGIM Real Estate (PGIM RE) plans to embark on strata sales at 108 Robinson Road this quarter. The 12-storey freehold office building underwent an extensive revamp that was completed in June 2023.
https://www.businesstimes.com.sg/property/pgim-real-estate-begin-strata-sales-108-robinson-road-q1-2024
IOI Central Boulevard Towers: Sole new CBD Grade-A office complex to be completed in 2024
New office buildings usually get all the attention. It is IOI Central Boulevard Towers’ turn in the spotlight as the only new office development to be completed in the CBD this year, says Andrew Tangye, JLL head of office leasing advisory — Singapore.
https://www.theedgesingapore.com/news/property/ioi-central-boulevard-towers-sole-new-cbd-grade-office-complex-be-completed-2024
Some Singaporeans buying property near RTS Link
Analysts have seen home prices near the RTS Link grow by up to 20 per cent in the last few years, with some Singaporeans already snapping up properties in the area
https://www.channelnewsasia.com/watch/some-singaporeans-buying-property-near-rts-link-video-4041206
How HDB market will fare with more new units in 2024
Great anticipation and excitement for the public housing market are expected in 2024. The second half of the year will likely see a surge in market chatter as many new HDB flats will be released for sale under the new Plus, Prime and Standard categories.
https://www.straitstimes.com/business/invest/how-hdb-market-will-fare-with-more-new-units-in-2024
Singapore Economy
Singapore’s trade, tourism sectors could benefit as China’s economy stabilises in 2024, experts say
Singapore – After China’s bumpy road to recovery in 2023, economists are cautiously optimistic that the country’s economy will stabilise and gradually rebound in 2024 despite risks such as deflationary pressures and continued weakness in the property sector.
https://www.straitstimes.com/business/singapore-s-trade-tourism-sectors-could-benefit-as-china-s-economy-stabilises-in-202-experts-say
SNEF reminds employers to retrench responsibly despite business troubles
Singapore – Singapore’s trade union for employers has reminded them to responsibly manage excess manpower and retrench workers only as a last resort. The Singapore National Employers Federation’s (SNEF) statement on Jan 11 follows similar comments made recently by its partners in the labour movement and Government.
https://www.straitstimes.com/business/snef-reminds-employers-to-retrench-responsibly-despite-business-troubles
Panel calls for help for older workers, government grants that run longer in Budget 2024
Panellists at a pre-Budget roundtable have suggested that the government’s upcoming spending plan include support for older workers who improve their job skills, and a longer-term approach to government grants.
https://www.businesstimes.com.sg/singapore/panel-calls-help-older-workers-government-grants-run-longer-budget-2024
Firms hope Budget 2024 will support digitalisation, skills and sustainability amid rising costs
Singapore – Business and industry leaders have told a pre-Budget roundtable that local companies are concerned about rising costs and geopolitical uncertainties as they head into 2024.
https://www.straitstimes.com/business/firms-hope-budget-2024-will-support-digitalisation-skills-and-sustainability-amid-rising-costs
BT Explains: What is the Budget, and why is it important?
The annual Budget is the government’s plan for how it will get money and spend it in the upcoming fiscal year. Its revenue plan indicates the government’s outlook on the economy, such as how much it expects to receive in corporate tax.
https://www.businesstimes.com.sg/singapore/bt-explains-what-budget-and-why-it-important
Companies’ Brief
Ho Bee Land expects net losses to widen for FY2023
Real estate group Ho Bee Land expects its net losses for the full year ended Dec 31, 2023 to widen from its current net-loss position for the six months ended Jun 30, 2023, it said in a bourse filing on Thursday (Jan 11).
https://www.businesstimes.com.sg/companies-markets/ho-bee-land-expects-net-losses-widen-fy2023
https://www.straitstimes.com/business/companies-markets/ho-bee-land-expects-net-losses-to-widen-for-fy2023
https://www.theedgesingapore.com/news/results/ho-bee-land-report-overall-net-loss-fy2023
Keppel, Pan-United team up with industry leaders to commercialise low-carbon technologies
Mainboard-listed Keppel and Pan-United Corporation on Thursday (Jan 11) inked a memorandum of understanding (MOU) with industry leaders to jointly develop and commercialise low-carbon technologies.
https://www.businesstimes.com.sg/companies-markets/keppel-pan-united-team-industry-leaders-commercialise-low-carbon-technologies
Metro buys another 6% stake in China property developer Top Spring International
Department store operator Metro has acquired an additional 6 per cent equity stake in China property developer Top Spring International for HK$93.2 million (S$15.9 million).
https://www.businesstimes.com.sg/companies-markets/metro-buys-another-6-stake-china-property-developer-top-spring-international
Global Economy & Real Estate
Global economy ‘poised for a soft landing’: IMF
https://www.businesstimes.com.sg/international/global/global-economy-poised-soft-landing-imf
As inflation slows, the job market gains Fed mindshare
https://www.businesstimes.com.sg/international/inflation-slows-job-market-gains-fed-mindshare
https://www.straitstimes.com/business/economy/us-fed-rate-cuts-may-wait-as-inflation-ticked-up-in-december
US consumer prices rise more than expected in December; weekly jobless claims fall
https://www.businesstimes.com.sg/international/us-consumer-prices-rise-more-expected-december-weekly-jobless-claims-fall
https://www.straitstimes.com/business/economy/us-consumer-prices-rise-more-than-expected-in-december-weekly-jobless-claims-fall
https://www.channelnewsasia.com/business/us-consumer-inflation-jumps-more-expected-34-4041171
US mortgage rates climb for second straight week, hitting 6.66%
https://www.businesstimes.com.sg/property/us-mortgage-rates-climb-second-straight-week-hitting-666
There’s finally hope for the commercial real estate market
https://www.businesstimes.com.sg/property/theres-finally-hope-commercial-real-estate-market
Canadians give Trudeau low marks for housing affordability in poll
https://www.businesstimes.com.sg/property/canadians-give-trudeau-low-marks-housing-affordability-poll
China Reits plumb record lows as economic gloom lingers
https://www.businesstimes.com.sg/property/china-reits-plumb-record-lows-economic-gloom-lingers
Fund manager who beat 97% of peers sees bottom in China property
https://www.businesstimes.com.sg/international/global/fund-manager-who-beat-97-peers-sees-bottom-china-property
https://www.theedgesingapore.com/news/china-focus/fund-manager-who-beat-97-peers-sees-bottom-china-property
China cities buy housing with PBOC-tied loans, local media says
https://www.businesstimes.com.sg/companies-markets/banking-finance/china-cities-buy-housing-pboc-tied-loans-local-media-says
https://www.straitstimes.com/business/china-cities-buy-unsold-homes-and-turn-them-into-rental-housing-local-paper-says
China Resources Land reports slowest sales growth since 2015 amid housing slump while rental assets mitigate slowdown
https://www.scmp.com/business/article/3248069/china-resources-land-reports-slowest-sales-growth-2015-amid-housing-slump-while-rental-assets
China developer Sino-Ocean said to seek yuan bond extensions
https://www.businesstimes.com.sg/property/china-developer-sino-ocean-said-seek-yuan-bond-extensions
ECB interest rates at peak: Lagarde
https://www.businesstimes.com.sg/international/ecb-interest-rates-peak-lagarde
OECD urges Japan’s central bank to gradually raise interest rates
https://www.businesstimes.com.sg/international/oecd-urges-japans-central-bank-gradually-raise-interest-rates
https://www.channelnewsasia.com/business/oecd-urges-japans-central-bank-gradually-raise-interest-rates-4039501
BOJ considers lowering FY2024 inflation outlook to mid-2% range
https://www.channelnewsasia.com/business/boj-considers-lowering-fy2024-inflation-outlook-mid-2-range-jiji-4040771
Bank of Korea modifies hawkish policy tilt, keeps rate unchanged
https://www.businesstimes.com.sg/international/bank-korea-modifies-hawkish-policy-tilt-keeps-rate-unchanged
South Korea to step up monitoring of real estate projects
https://www.channelnewsasia.com/business/south-korea-step-monitoring-real-estate-projects-4042411
Emptier streets in parts of Kuala Lumpur as migrants shy away after raids targeting illegal foreign workers
https://www.channelnewsasia.com/asia/malaysia-foreign-workers-immigration-raids-kuala-lumpur-police-4040106
Saudi Arabia launches new residency plans to draw foreign talent
https://www.businesstimes.com.sg/international/saudi-arabia-launches-new-residency-plans-draw-foreign-talent
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