Singapore Real Estate / Built Environment
2.7ha site in Sin Ming being prepared for new housing development
Singapore – A 2.7ha plot of land in Sin Ming, about the size of 3½ football fields, is being prepared for what analysts say could be hundreds of new homes. A proposed amendment to the Master Plan 2019 published by the Urban Redevelopment Authority (URA) on Nov 11 raises the residential site’s gross plot ratio from 3.5 to 3.9, to help provide more housing options in the area.
https://www.straitstimes.com/singapore/housing/2-7ha-site-in-sin-ming-being-prepared-for-new-housing-development
Greater flexibility needed when government assesses bids for GLS sites
A buyer may pay what many people view as an aggressive price for a home because he is very keen on the property for personal reasons. On the other hand, a property vendor who is in financial distress might sell at a significant discount to the transacted prices of comparable units nearby.
https://www.businesstimes.com.sg/opinion-features/greater-flexibility-needed-when-government-assesses-bids-gls-sites
Singapore Economy
Singapore and China sign 25 agreements at annual top-level bilateral meeting to boost cooperation
Singapore and China have signed 25 agreements at their annual apex meeting, boosting cooperation in areas like trade, finance and maritime as they strengthen ties amid a troubled geopolitical climate.
https://www.channelnewsasia.com/asia/singapore-china-jcbc-cooperation-gan-kim-yong-ding-xuexiang-4732926
https://www.businesstimes.com.sg/singapore/chinese-vice-premier-ding-xuexiang-meets-president-tharman-pm-wong1
https://www.straitstimes.com/singapore/chinese-vice-premier-ding-xuexiang-meets-president-tharman-pm-wong
https://www.scmp.com/week-asia/politics/article/3286100/singapores-pm-wong-and-chinas-vice-premier-ding-reaffirm-positive-momentum-ties
Decision to join any multilateral grouping must be clearly defined by Singapore’s interests: Vivian
Any decision for Singapore to join international groupings must be carefully considered and clearly defined by national interests, Foreign Minister Vivian Balakrishnan said on Nov 11.
https://www.straitstimes.com/singapore/politics/decision-to-join-any-multilateral-grouping-must-be-clearly-defined-by-singapores-interests-vivian
https://www.businesstimes.com.sg/singapore/singapores-membership-international-bodies-must-be-based-national-interests-vivian-balakrishnan
https://www.zaobao.com.sg/realtime/singapore/story20241111-5325583
Raising rail reliability targets could come at a cost to taxpayers, commuters: Chee Hong Tat
Singapore: Raising rail reliability targets could come at a cost to taxpayers and commuters, said Transport Minister Chee Hong Tat. The current rail reliability target of 1 million mean kilometres between failure (MKBF) remains a “relevant and valid” target, he said in parliament on Monday (Nov 11).
https://www.channelnewsasia.com/singapore/rail-reliability-target-mrt-lrt-cost-taxpayer-commuters-chee-hong-tat-4740341
New laws to target money laundering give S’pore more powers to assist foreign crime probes
Singapore – Even if criminal prosecutions have not started overseas, the authorities in Singapore will soon be able to take statements from people to assist in investigating foreign crimes.
https://www.straitstimes.com/singapore/politics/new-laws-to-target-money-laundering-gives-spore-more-powers-to-assist-foreign-crime-probes
https://www.businesstimes.com.sg/singapore/singapore-broadens-scope-mutual-legal-assistance-cross-border-crime-under-new-law
Business News
CICT divests office asset in Raffles Place for S$688 million
CapitaLand Integrated Commercial Trust (CICT) has divested 21 Collyer Quay, an office building located in Raffles Place, for S$688 million.
https://www.businesstimes.com.sg/companies-markets/cict-divests-office-asset-raffles-place-s688-million
Lendlease Global Reit posts 89.5% committed occupancy portfolio for Q1 FY2025
Lendlease Global Commercial Reit (Lendlease Global Reit) on Monday (Nov 11) posted a committed portfolio occupancy of 89.5 per cent for the first quarter ended Sep 30, up from 89.1 per cent in the previous quarter.
https://www.businesstimes.com.sg/companies-markets/lendlease-global-reit-posts-89-5-committed-occupancy-portfolio-q1-fy2025
https://www.zaobao.com.sg/realtime/singapore/story20241111-5329401
Oxley Holdings Signs Hotel Management Agreement with Langham Hospitality Group
Oxley Holdings has partnered with Langham Hospitality Group to operate a 198-room hotel in Kuala Lumpur. The company said in a statement on Monday (Nov 11) that the collaboration is an important milestone in the company’s efforts to enhance its hotel portfolio and “symbolizes the shared vision and pursuit of excellence in operating luxury hotels in Malaysia.”
https://www.zaobao.com.sg/realtime/singapore/story20241111-5330348
Views, Reviews, Forum and Others
Stiffer penalties for illegal discharge into sewers, silty discharge into drainage system
Penalties will be raised for the illegal discharge of harmful waste into sewers, and silty discharge into drains to deter offences that can compromise Newater production and cause floods.
https://www.straitstimes.com/singapore/politics/stiffer-penalties-for-illegal-discharge-into-sewers-silty-discharge-into-drainage-system
https://www.zaobao.com.sg/realtime/singapore/story20241111-5327020
At least S$9.6 million lost to scammers impersonating staff of Chinese companies since August
More than 440 cases of scammers pretending to be staff of Chinese companies such as WeChat, Tencent and Union Pay have been reported since Aug 28, with losses coming up to at least S$9.6 million (US$7.2 million).
https://www.channelnewsasia.com/singapore/chinese-companies-staff-impersonation-scams-s96-million-lost-august-4740646
https://www.straitstimes.com/singapore/at-least-9-6m-lost-to-scammers-impersonating-staff-of-china-based-firms-since-late-august
Global Economy & Real Estate
Australia consumer sentiment climbs even as trump clouds outlook
https://www.businesstimes.com.sg/international/australia-consumer-sentiment-climbs-even-trump-clouds-outlook
German commercial property prices drop but show some stabilisation
https://www.businesstimes.com.sg/property/german-commercial-property-prices-drop-show-some-stabilisation1
Waiting time for Hong Kong public rental flats remains unchanged at 5½ years
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3286052/waiting-time-hong-kong-public-rental-flats-remains-unchanged-5-1/2-years
Hong Kong landlords rush to sell commercial property amid market optimism, rate cuts
https://www.scmp.com/business/china-business/article/3286057/hong-kong-landlords-rush-sell-commercial-property-amid-market-optimism-rate-cuts
Hong Kong residential property prices to rebound next year, though unsold inventory looms
https://www.scmp.com/business/article/3285948/hong-kong-residential-property-prices-rebound-next-year-though-unsold-inventory-looms
Desperate for tourists, Hong Kong doles out incentives to woo visitors from mainland and beyond
https://www.businesstimes.com.sg/international/global/desperate-tourists-hong-kong-doles-out-incentives-woo-visitors-mainland-and-beyond
Bank of Japan hints at caution on rate hike with no clear December hint
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-japan-hints-caution-rate-hike-no-clear-december-hint
New Zealand inflation expectations inch up, stay near 2% target
https://www.businesstimes.com.sg/international/new-zealand-inflation-expectations-inch-stay-near-2-target
New Zealand’s sputtering economy highlighted by concrete slump
https://www.businesstimes.com.sg/international/new-zealands-sputtering-economy-highlighted-concrete-slump
South Korea state-run think tank sees need to loosen monetary policy
https://www.businesstimes.com.sg/international/south-korea-state-run-think-tank-sees-need-loosen-monetary-policy
UK business closures surge after budget hit to employers
https://www.businesstimes.com.sg/international/uk-business-closures-surge-after-budget-hit-employers
Hamptons lowers UK home price forecast on Labour budget measures
https://www.businesstimes.com.sg/property/hamptons-lowers-uk-home-price-forecast-labour-budget-measures
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