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 June 2024 (Wed)

Business News


CapitaLand Investment pushes ahead with disclosures from suppliers, more green leases
Singapore – Mainboard-listed CapitaLand Investment (CLI) is pushing ahead in its decarbonisation by adding key disclosures from suppliers and ramping up green leases with tenants, even though its efforts to cut carbon emissions did not go as smoothly in 2023 as previously.


Sabana Reit’s tenant in Tuas Avenue 8 placed under provisional liquidation
The tenant of Sabana Industrial Real Estate Investment Trust (Sabana Reit) at 30 and 32 Tuas Avenue 8 has been placed in provisional liquidation. The Reit’s manager said in a bourse filing on Tuesday (Jun 11) that the tenant in question, biotechnology company GDMC, accounted for about 2.4 per cent of the Reit’s total gross rental income for the financial year ended Dec 31, 2023.



Views, Reviews, Forum and Others


Agents gave kickbacks, bankers took cuts: Ethics flew out the window in money launderers’ deals
Property agents who represented the 10 foreigners in Singapore’s largest money laundering case earned six-figure commissions, but some of them gave up more than half the amount as “kickbacks” in order to close the deal.


Airbnb removes listings offering illegal short stays in Singapore
Singapore: Illegal listings on Airbnb offering short-term stays in Singapore have been removed from the platform after CNA reported that some hosts have been advertising such rentals. CNA had found more than 15 such listings offering two- and three-night stays in condominium units and Housing Board (HDB) flats. Some were active for months, claiming to be “authorised serviced apartments”.



Global Economy & Real Estate


World Bank raises global growth forecast on strong US expansion


US Fed likely to remain on pause and pare back rate cut expectations


US small business sentiment up in May, but looming election clouds outlook


US weighs more limits on China’s access to chips needed for AI


Amazon commits US$1.4 billion to build 14,000 affordable homes


Australia’s economy is on track for soft landing, treasurer says


Australian business conditions soften in May, cost pressures pick up


China’s call for ‘open mind’ spurs hope of new housing measures


Chinese developers’ troubles continue as Dexin gets liquidated


ECB says many eurozone banks dragging their feet on loan-loss provisions


Russian real estate in Finland pose security risk, PM warns


Hong Kong buyer’s market for flats persists as Sun Hung Kai offers homes at 17% discount


Japan May wholesale inflation accelerates more than expected


Bank of Japan expected to weigh bond buying cuts as rate hike timing nears


BlackRock will expand offerings for overseas investors in Japan


Bank of Korea board members cautious on easing monetary policy, minutes show


Brookfield sells Seoul Conrad hotel for about US$300 million


Taiwan set to hold rates steady amid persistent inflation worries: Reuters poll


Rise in UK jobless rate muddies Sunak’s message to voters


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