Singapore Real Estate / Built Environment
Several Parkway Parade mall tenants leave or downsize amid rising rents
Singapore – British retailer Marks & Spencer will be closing its Parkway Parade store on Feb 16, marking another major departure from the 42-year-old mall in Marine Parade.
Why linkway to Parkway Parade is being built after opening of Marine Parade MRT station
After experiencing years of disruption caused by the construction of Marine Parade MRT station around Parkway Parade, some of the mall’s tenants have barely had time to heave a sigh of relief after the station opened in June 2024.
https://www.zaobao.com.sg/realtime/singapore/story20250213-5871257
Singapore Economy
MAS review group proposes tax perks to boost Singapore’s equities market as a start
The Monetary Authority of Singapore’s (MAS) equities market review group proposes to introduce tax incentives to spur more listings and investments in the local equities market, in its first set of measures announced on Thursday (Feb 13).
Singapore’s 2024 GDP growth revised upwards to 4.4%; 2025 forecast range kept at 1 to 3%
Singapore’s economy grew 4.4 per cent in 2024, revised up from the advance estimate of 4 per cent, data from the Ministry of Trade and Industry (MTI) showed on Friday (Feb 14). This marks an acceleration from the 2023 full-year growth figure of 1.8 per cent.
https://www.channelnewsasia.com/singapore/singapore-economy-growth-mti-gdp-4935996
https://www.zaobao.com.sg/realtime/singapore/story20250214-5875365
Singapore’s key exports grow 0.2% in 2024; 2025 forecast unchanged
Singapore’s non-oil domestic exports (NODX) grew 0.2 per cent for the whole of 2024, reversing from the 13.1 per cent contraction recorded in the previous year, due to higher shipments of electronic products, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Feb 14).
https://www.zaobao.com.sg/realtime/singapore/story20250214-5875395
Singapore’s real median household income growth in 2024 eases to 1.4%
Singapore’s median household employment income rose 1.4 per cent in real terms last year, slower than the year before amid lower inflation, data from the Singapore Department of Statistics (SingStat) showed on Thursday (Feb 13).
https://www.zaobao.com.sg/realtime/singapore/story20250213-5870056
Business News
Ong Beng Seng’s HPL to focus on its other Orchard Road properties after exiting Cuscaden consortium
Hotel Properties Ltd (HPL), the real estate player owned by tycoon Ong Beng Seng, will focus on developing its assets and holdings after exiting a Temasek-backed consortium that owns Paragon real estate investment trust (Reit), among other assets.
Singapore life insurance records higher 2024 sales as annual premium sales climb
Singapore’s life insurance industry recorded nearly S$1.6 billion in weighted new business premiums for the fourth quarter, representing a year-on-year growth of 11.1 per cent.
Global Economy & Real Estate
Trump outlines reciprocal tariff plan in latest bid to reshape trade on his terms
Trump plans tariffs on Canada, France over digital services taxes
China land sales show property market stabilising: report
https://www.businesstimes.com.sg/property/china-land-sales-show-property-market-stabilising-report
Chinese developer rally is already fading after Vanke support
https://www.businesstimes.com.sg/property/chinese-developer-rally-already-fading-after-vanke-support
BlackRock fund gives up China towers after opting to miss loan
https://www.businesstimes.com.sg/property/blackrock-fund-gives-china-towers-after-opting-miss-loan
Lower valuation is next ‘pain point’ for Hong Kong office landlords, S&P says
Family of Hong Kong’s ‘minibus king’ sells The Center offices at 34% loss in market slump
Most economists expect BOJ to hike rates in latter half of 2025, survey shows
US$582 million mixed-use development with mall, hotel, apartments to be integrated with Johor’s RTS Link station
New Zealand manufacturing grows for first time in two years
https://www.businesstimes.com.sg/international/new-zealand-manufacturing-grows-first-time-two-years
South Korea’s tech exports lose growth momentum as risks rise
South Korea to limit power banks on flights following plane fire
Thai consumer confidence hits 8-month high in January on stimulus measures
UK economy unexpectedly picks up in late 2024, outlook for 2025 still ‘sluggish’
UK housing demand froze in January market turbulence, say agents
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