SINGAPORE REAL ESTATE
Securing anchor tenants can be a double-edged sword for commercial property landlords
IOI Properties’ landmark new development, IOI Central Boulevard Towers, in Singapore’s Central Business District (CBD) is taking over six years to be completed. But the Malaysian group is buoyed by strength in Singapore’s Grade A office market and the securing of Amazon as an anchor tenant.
Singapore’s F&B space could see uptick in M&A activity; more businesses up for sale or seeking growth capital
Singapore’s food and beverage (F&B) space could soon see an uptick in mergers and acquisitions (M&A) amid an increasingly challenging macroeconomic environment. Industry players and market watchers told The Business Times that they see more businesses up for sale, while others seek growth capital to get back on track.
Pond with capacity of 50 Olympic swimming pools built on Jurong Island to mitigate climate-change flooding
JTC Corporation (JTC) has built a pond on Jurong Island that can hold enough rainwater to fill 50 Olympic-size swimming pools and makes use of the terrain to protect the area from climate-change-related flooding.
Experts back Govt’s stance on including land cost in BTO pricing but urge more transparency on subsidies
Property analysts have backed the Government’s stance that land costs should continue to be included when determining the price of Build-to-Order (BTO) flats. This was necessary to ensure the stability of fiscal revenue and property market, they added.
CapitaLand India Trust acquiring Chennai site to develop 19.4b rupee data centre
CapitaLand India Trust is acquiring a freehold 4.01-acre site in Ambattur, Chennai, for about 832.8 million rupees (S$14.1 million) to develop its third data centre in India.
Frasers Property appoints ThaiBev CEO to board of directors
Frasers Property has appointed Thai Beverage president and chief executive Thapana Sirivadhanabhakdi as its non-executive, non-independent director effective Jan 1, 2023. He will also join as a member of the company’s board executive committee and remuneration committee (RC).
Keppel to debut on main Dow Jones Sustainability Index; CDL dropped
From next Monday (Dec 19), Keppel Corporation will be incorporated as a constituent on the Dow Jones Sustainability World Index, while real estate giant City Developments Limited (CDL) will be dropped.
Soilbuild bags S$140.4 million in new construction contracts
Soilbuild Construction Group has clinched S$140.4 million in new contracts, bringing its total order book to S$492.7 million as at end-October, the company announced in a Monday (Dec 12) bourse filing.
GLOBAL ECONOMY & GLOBAL REAL ESTATE
US dollar eases, but inflation outlook stays high on investors’ radar
Yellen expects US inflation to be much lower by end 2023
Britain’s GDP grew 0.5% in October: statistics office
UK home asking prices are falling at sharpest pace in four years
China to set economic plans amid shift from Covid Zero to growth
China will further relax Covid-19 measures, Beijing envoy to US says
China reopening may boost GDP in Hong Kong, Thailand and S’pore, Goldman says
China’s relaxing of borders will be ‘much-needed boost’ for retail sector in 2023: DBS
Malaysia’s factory output growth slips to 4.6% in October, below economists’ expectation
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