Singapore Real Estate / Built Environment
To prepare for the tram era, 300 HDB multi-storey car parks upgrade power infrastructure
The average usage rate of charging points in HDB car parks is less than 10%
Work will begin on upgrading the electrical infrastructure of 300 local HDB multi-storey car parks in the middle of this year so that more charging stations can be added to meet demand when electric vehicles become more popular in the future.
https://www.zaobao.com.sg/news/singapore/story20250513-6321785?ref=today-news-section-card-5
https://www.zaobao.com.sg/news/singapore/story20250513-6321828
Trade tariffs may remove Fomo among new condo buyers, open the way to relax ABSD
Generally, private homes here are seen as good long-term investments. Key drivers of capital appreciation include Singapore’s ability to transform its economy, steady increase in housing supply, policies that support a stable market, good urban planning, constant public infrastructure upgrading, the city’s attractiveness to the wealthy and political stability.
Singapore News
Prime Minister Lawrence Wong is expected to announce a new cabinet in the near future. Analysis: The fourth generation of ministers may take over all departments.
Prime Minister Lawrence Wong is expected to announce the new cabinet in the near future. Political observers interviewed believe that the pace of political team renewal in our country will accelerate after the 2025 general election, and the new cabinet is expected to have more departments led by fourth-generation ministers.
https://www.zaobao.com.sg/news/singapore/story20250512-6327558?ref=today-news-section-card-1
https://www.zaobao.com.sg/news/singapore/story20250512-6327714
Singapore dollar’s top-performer spot in doubt amid inflation, growth concerns
The Singapore dollar is the top-performing Southeast Asian currency this year, but slowing inflation and growth worries may push it down the rankings in coming months.
SGX sees steady stream of delistings amid market pressures
At least 16 companies are on the delisting track as of the first week of May this year. They have either delisted, confirmed delisting dates or announced plans to exit the Singapore Exchange (SGX). Meanwhile, only one initial public offering (IPO) has taken place so far this year – car dealer Vin’s Holdings, which listed on the Catalist board in mid-April.
Business News
In return to Singapore, Barclays Private Bank sets sights on ultra rich and family offices
Barclays’ private bank, which made a return to Singapore in 2021, is building up the business with renewed vigour. In that push, the group has been stepping up its recruitment in Singapore, said Evonne Tan, head of Barclays Private Bank, Singapore. Among the most prominent hires, besides Tan, are David Ratcliffe as chief operating officer and Ken Sze as head of investments, Asia.
Yeo Mui Hong, President of ION Orchard: The mall actively responds to fierce competition and improves the shopping experience
The retail landscape in the prime area of Orchard Road is gradually changing. For example, Paragon Mall was recently privatized to pave the way for large-scale renovations; Far East Plaza, Ming Arcade and Tanglin Shopping Center at the other end are also being redeveloped.
https://www.zaobao.com.sg/finance/singapore/story20250512-6310290
Global Economy / Real Estate News
Oil prices settle up at two-week high as US, China ease tariffs
US: Wall St surges at open as US, China slash tariffs
https://www.businesstimes.com.sg/companies-markets/us-wall-st-surges-open-us-china-slash-tariffs
https://www.straitstimes.com/business/companies-markets/us-stocks-rally-after-us-china-tariff-truce
US-China truce likely to avert recession but not coming slowdown
https://www.zaobao.com.sg/finance/world/story20250512-6328748?ref=today-news-section-card-9
US tariffs to weigh on economy despite recent reprieve: Federal Reserve official
US tariff revenue jumped in April, before China de-escalation
https://www.businesstimes.com.sg/international/us-tariff-revenue-jumped-april-china-de-escalation
https://www.straitstimes.com/business/us-dollar-surges-after-us-and-china-agree-to-reduce-tariffs
McDonald’s sets out to hire 375,000 US workers this summer
2,800 units sold in two years; hot sales of private homes in Toronto may lead to a cluster trend
https://www.zaobao.com.sg/finance/singapore/story20250512-6322052
China’s luxury hotels are booming and Singaporeans love them as they are affordable and accessible
China’s long, nagging property market downturn nears stabilisation: analysts
China’s property market faces uncertain future despite historic rate cuts
Europe: Shares close higher after Sino-US tariff deal relieves markets
Hong Kong’s IPO market accelerates amid tariff uncertainty, China stimulus optimism
Multifamily offices could yield bigger benefits for Hong Kong, industry executive says
Dai Qingcheng: Hong Kong has a long way to go to expand into the Middle East market
https://www.zaobao.com.sg/news/china/story20250513-6328177
BOJ policymaker called for keeping rate-hike stance, May meeting summary shows
Nissan to cut over 10,000 more jobs globally
https://www.businesstimes.com.sg/companies-markets/nissan-cut-over-10000-more-jobs-globally
https://www.straitstimes.com/business/nissan-job-cuts-double-to-20000-in-huge-overhaul-nhk-says
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.