The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 14 Mar 2023 (Tue)

Singapore Real Estate


Developers likely to convert more retail and office buildings into private housing: Property analysts
Singapore – In May 2021, developer Frasers Property said it had secured provisional approval from the authorities to redevelop Bedok Point into a residential development. The mall was the first of several retail and office buildings that subsequently shuttered for redevelopment, as developers reassessed their use of space amid the prolonged disruption from the Covid-19 pandemic.


HDB to pilot new type of public rental housing with own room, shared facilities for low-income singles
A new type of public rental housing where low-income singles live in their own rooms but share toilets and kitchens will be rolled out at the end of 2023. Called Single Room Shared Facilities, this new housing type aims to give tenants greater privacy while providing a community-type living environment, said the Housing Board on Monday (Mar 13).



Singapore Economy


Vivian Balakrishnan and Johor leaders welcome full resumption of cross-border visits
Minister for Foreign Affairs Vivian Balakrishnan met leaders in Johor on Monday, as they welcomed the full resumption of cross-border visits and exchanges between Singapore and the Malaysian state Johor since the reopening of borders.


Singapore banking system remains ‘sound and resilient’ amid SVB collapse: MAS
The Singapore banking system remains “sound and resilient” amid the recent collapse of Silicon Valley Bank (SVB) and a couple of other small banks, said the Monetary Authority of Singapore (MAS) on Monday (Mar 13).


Start-ups in Singapore to face more difficulties in fundraising after US bank failures, say experts and VCs
Singapore: Tech start-ups in Singapore may be in for a tougher fund-raising environment, with investors likely to turn cautious following the collapse of Silicon Valley Bank (SVB) and Signature Bank in the United States, analysts and venture capital firms told CNA.



Companies’ Brief


Mandarin Oriental closes for six-month refurbishment
Singapore (EdgeProp) – Mandarin Oriental, Singapore, the 527-key luxury hotel located along Raffles Avenue overlooking Marina Bay, has closed from March 7 to undergo refurbishments. Renovations will take six months, and the hotel will reopen in September.


V-ZUG opens flagship showroom at ION Orchard; offers 10-year warranty on new products
Singapore (EdgeProp) – Swiss luxury appliances brand V-ZUG has opened a new flagship showroom at ION Orchard. Located on the second floor, the space replaces V-ZUG’s previous showroom Zugorama, located at Scotts Square.



Global Economy & Real Estate


Canadian farms buck housing market trend as prices keep rising


Canada 2-year yield plunges most since 1990s; rate bets shift


Why Silicon Valley Bank isn’t Lehman


New Zealand flirts with recession amid sharp economic slowdown


New Zealand government to boost financial support for 1.4 million people in face of soaring inflation


ECB seen hiking rates again, but for how much longer?


Australian business activity strong in Feb, even as confidence wanes


Hong Kong GDP outlook lifted on China; Singapore sees high costs


Lack of airlift hitting Hong Kong tourism industry’s efforts to take flight after Covid-19, experts say, as recovery slower than expected


SVB collapse: Hong Kong property market, economy could benefit from expected pause in US interest rate increases


Asian markets sink as SVB contagion fears hit banking sector



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