Singapore Real Estate
First residential plots returned to the state will be rejuvenated as HDB flats in Kallang
The first residential plot of land in post-independence Singapore which reached the end of its lease is being readied for a public housing development as part of rejuvenation efforts in Kallang.
https://www.businesstimes.com.sg/property/first-residential-plots-returned-state-will-be-rejuvenated-hdb-flats-kallang
Singapore shophouses are blazing-hot properties
Singapore – Almost a decade ago, Sebestian Soh got the idea to buy a shophouse. He’d recently returned to Singapore after going to university in London, and to his eyes shophouses had a kind of magic.
https://www.straitstimes.com/business/singapore-shophouses-are-blazing-hot-properties
https://www.businesstimes.com.sg/property/singapores-s30-million-shophouses-are-blazing-hot-properties
When condo owners fight over the right to build extra roofs
An increasing number of owners of private apartments have been hitting the roof when some neighbours in their condominiums build unwanted structures right under their noses.
https://www.straitstimes.com/business/invest/when-condo-owners-fight-over-the-right-to-build-extra-roofs
Resale price growth slows in more HDB towns in Q3: OrangeTee
Resale prices grew at a slower pace in the third quarter of 2023, with 10 Housing and Development Board (HDB) towns witnessing a decline in average resale prices, said OrangeTee & Tie on Thursday (Oct 12).
https://www.businesstimes.com.sg/property/resale-price-growth-slows-more-hdb-towns-q3-orangetee
https://www.edgeprop.sg/property-news/hdb-resale-price-growth-slows-even-number-million-dollar-transactions-hit-record-high
Centralised cooling system in Tengah runs into teething issues for first batch of residents
Singapore – The first centralised cooling system in a Housing Board estate has run into teething problems as the first batch of residents of Tengah town collect the keys to their flats.
https://www.straitstimes.com/singapore/housing/centralised-cooling-system-in-tengah-runs-into-teething-issues-for-first-batch-of-residents
Singapore Economy
Singapore and US to venture into new areas to beef up ties: DPM Wong
The United States will continue to play a dominant role in the world in the foreseeable future and Singapore will expand bilateral ties into new areas such as emerging technologies, outer space exploration and green energy, said Deputy Prime Minister Lawrence Wong at the end of his 10-day visit to the US.
https://www.businesstimes.com.sg/singapore/singapore-and-us-venture-new-areas-beef-ties-dpm-wong
Lawrence Wong says China needs to grow influence ‘carefully’
China’s attempt to grow its influence shouldn’t come at the expense of other countries feeling pressured or it risks a backlash, according to Singapore Deputy Prime Minister Lawrence Wong.
https://www.theedgesingapore.com/news/singapore-news/lawrence-wong-says-china-needs-grow-influence-carefully
https://www.scmp.com/news/asia/southeast-asia/article/3237960/singapores-wong-warns-china-needs-grow-its-influence-carefully
Singapore hopes for substantial IPEF progress by Apec
Singapore’s deputy prime minister said on Friday (Oct 13) he hopes for substantial progress in the US-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month’s Asia Pacific Economic Cooperation (Apec) summit.
https://www.businesstimes.com.sg/singapore/singapore-hopes-substantial-ipef-progress-apec
Companies’ Brief
Keppel announces first close of infrastructure fund at US$575 million
Keppel Corporation’s flagship open-ended infrastructure fund, Keppel Core Infrastructure Fund (KCIF), achieved its first close with initial capital and co-investment commitments of US$575 million.
https://www.businesstimes.com.sg/companies-markets/keppel-announces-first-close-infrastructure-fund-us575-million
https://www.straitstimes.com/business/keppel-private-fund-acquires-two-education-assets-in-sydney-for-175-million
https://www.theedgesingapore.com/news/funds/keppel-achieves-first-closing-us575-mil-flagship-infrastructure-fund
Straits Trading appoints Eric Teng as its new group COO
Eric Teng, who is currently the CEO of Straits Development, has been appointed Straits Trading’s new group chief operating officer (COO). Straits Development is a subsidiary of Straits Trading.
https://www.theedgesingapore.com/news/new-appointments/straits-trading-appoints-eric-teng-its-new-group-coo
Tuan Sing exploring move into hospitality, may turn HQ into hotel or serviced residence
Property developer Tuan Sing Holdings : T24 0% plans to turn its headquarters at The Oxley into a hotel or serviced residence, in a bold move into the hospitality sector in Singapore.
https://www.businesstimes.com.sg/property/tuan-sing-exploring-move-hospitality-may-turn-hq-hotel-or-serviced-residence
https://www.straitstimes.com/business/tuan-sing-may-turn-link896-adjoining-site-at-bukit-timah-into-hotel-or-serviced-residence
Views, Reviews Forum and Others
$2.8b money laundering case: Luxury yacht linked to 2 accused listed for sale at more than $21m
Singapore – A luxury yacht linked to the $2.8b money-laundering bust in Singapore has been listed for sale at US$15.5m ($21.2 million).
https://www.straitstimes.com/singapore/courts-crime/28b-money-laundering-case-luxury-yacht-linked-to-su-haijin-listed-for-sale-at-more-than-21m
HSA approves updated Covid-19 vaccine by Moderna to target Omicron sub-variants
Singapore – The Health Sciences Authority (HSA) has approved Moderna’s updated vaccine against Covid-19 to protect against current Omicron sub-variants of the virus.
https://www.straitstimes.com/singapore/hsa-approves-updated-covid-19-vaccine-by-moderna-to-target-omicron-sub-variants
https://www.channelnewsasia.com/singapore/updated-moderna-covid-19-vaccine-newer-omicron-subvariants-authorised-singapore-hsa-3843916
Number of hot spots down but chance of slight haze affecting Singapore if regional situation escalates: NEA
Singapore — There is a chance of slight haze affecting Singapore if the regional situation escalates, the National Environment Agency (NEA) said on Sunday (Oct 15) in its daily haze advisory.
https://www.todayonline.com/singapore/number-hot-spots-down-chance-slight-haze-affecting-singapore-if-regional-situation-escalates-nea-2282346
https://www.channelnewsasia.com/singapore/chance-slight-haze-affecting-singapore-if-regional-situation-escalates-nea-3847566
Global Economy & Real Estate
Fed officials prepare to extend rate pause without saying hikes are done
https://www.theedgesingapore.com/news/us-economy/fed-officials-prepare-extend-rate-pause-without-saying-hikes-are-done
US economy strong but faces many risks, JPMorgan’s Pinto says
https://www.businesstimes.com.sg/international/us-economy-strong-faces-many-risks-jpmorgans-pinto-says
IMF says Asian economies under pressure as China’s property woes bite
https://www.businesstimes.com.sg/international/imf-says-asian-economies-under-pressure-chinas-property-woes-bite
https://www.channelnewsasia.com/business/imf-says-asian-economies-under-cosh-chinas-property-woes-bite-3843906
Canadian home sales fall for 3rd month; full-year forecast lowered
https://www.businesstimes.com.sg/property/canadian-home-sales-fall-3rd-month-full-year-forecast-lowered
China’s Sept consumer prices flat, factory deflation persists
https://www.businesstimes.com.sg/international/global/chinas-sept-consumer-prices-flat-factory-deflation-persists
China’s economy is in search of more stable footing
https://www.businesstimes.com.sg/international/global/chinas-economy-search-more-stable-footing
Deutsche Bank CEO says hard times ahead for commercial property
https://www.businesstimes.com.sg/companies-markets/deutsche-bank-ceo-says-hard-times-ahead-commercial-property
German builders to confront Scholz with demands to stem property rout
https://www.businesstimes.com.sg/property/german-builders-confront-scholz-demands-stem-property-rout
Hong Kong’s Urban Renewal Authority feels the pinch of property slump, but pushes ahead with sales at latest starter home development
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3238004/hong-kongs-urban-renewal-authority-feels-pinch-property-slump-pushes-ahead-sales-latest-starter-home
Hong Kong’s retail space vacancy to stabilise as global brands boost local presence to reconnect with target consumers
https://www.scmp.com/business/article/3238006/hong-kongs-retail-space-vacancy-stabilise-global-brands-boost-local-presence-reconnect-target
Japan households’ inflation expectations rise slightly: BOJ poll
https://www.businesstimes.com.sg/international/global/japan-households-inflation-expectations-rise-slightly-boj-poll
https://www.channelnewsasia.com/business/japan-households-inflation-expectations-rise-slightly-boj-poll-3843331
Former GIC Japan head investing US$1.4 billion to build luxury ski paradise near Tokyo
https://www.businesstimes.com.sg/international/former-gic-japan-head-investing-us14-billion-build-luxury-ski-paradise-near-tokyo
As Japan pushes to sell Southeast Asia more seafood, will consumers bite?
https://www.scmp.com/week-asia/politics/article/3237877/japan-pushes-sell-southeast-asia-more-seafood-will-consumers-bite
Malaysia unveils largest-ever budget; more investment incentives, subsidy cuts to narrow deficit
https://www.businesstimes.com.sg/international/malaysia-unveils-largest-ever-budget-more-investment-incentives-subsidy-cuts-narrow
https://www.channelnewsasia.com/asia/malaysia-anwar-ibrahim-budget-2024-finance-spending-3843431
New Zealand inflation poised to add to kiwi’s downside risks
https://www.businesstimes.com.sg/international/new-zealand-inflation-poised-add-kiwis-downside-risks
UK home sellers restrain asking prices as economic gloom grows
https://www.businesstimes.com.sg/property/uk-home-sellers-restrain-asking-prices-economic-gloom-grows
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