Singapore Real Estate / Built Environment
URA puts up second Chuan Grove site for sale; firm bids expected amid steady demand in the area
A second Chuan Grove residential site has been released for sale under the 2025 government land sales (GLS) programme. The 14,514.3 square metre (sq m) site, which is on a 99-year lease, can accommodate 505 new condominium units. It is expected to attract firm interest amid steady demand for housing in the area.
https://www.zaobao.com.sg/finance/singapore/story20250513-6332573
Royal Group puts six HDB shophouses up for sale for S$73 million
A portfolio of six HDB shophouses located across Toa Payoh, Ang Mo Kio and Tanjong Pagar is up for sale for S$73 million. Based on checks by The Business Times, the shophouses are owned by Royal Group, a Singapore-based, single-family office founded by billionaire Asok Kumar Hiranandani.
https://www.businesstimes.com.sg/property/royal-group-puts-six-hdb-shophouses-sale-s73-million
Singlife leases former Prudential space of 73,300 sq ft in Marina One East Tower
The space vacated in core CBD Grade-A office buildings has been backfilling steadily on the back of a flight to quality and location, with tenant movements seen at Marina One and Capital Square. Singlife has leased 73,300 square feet in the East Tower of Marina One, a space vacated this year by fellow insurer Prudential, The Business Times understands.
Singapore Economy / News
US-China tariff rollback: marginal gains for Singapore amid lingering uncertainty
A temporary rollback in US-China tariffs has buoyed global markets and near-term sentiment, but economists expect any benefits to Singapore’s economy to be limited and short-lived. Structural uncertainties still cloud the outlook, and some damage has already been done, they noted.
Government will provide help for as long as needed: PM Wong at launch of latest tranche of CDC vouchers
Every Singaporean household can claim S$500 CDC vouchers from May 13
CDC vouchers are not a one-off exercise to help Singaporeans cope with cost-of-living issues, said Prime Minister Lawrence Wong, who gave the assurance that the government would provide help for as long as needed.
https://www.zaobao.com.sg/news/singapore/story20250513-6336200
https://www.channelnewsasia.com/singapore/cdc-vouchers-claim-500-launch-pm-wong-5125456
Business News
Ascott to add 300 new real estate projects in the next three years, creating 12,000 jobs
The Ascott Limited is actively expanding its business globally and expects to open more than 300 new accommodation properties by 2028. In a statement before the market opened on Wednesday (May 14), Ascott, the hospitality business of CapitaLand Investment, said it is accelerating its recruitment as it expects the global expansion plan to create 12,000 new job vacancies, including 1,500 leadership positions.
https://www.zaobao.com.sg/realtime/singapore/story20250514-6338250
BRC Asia H1 profit rises 9% to S$42.1 million
Steel solutions provider BRC Asia reported on Tuesday (May 13) a 9 per cent year-on-year increase in net profit for the first half of the year to S$42.1 million, from S$38.5 million in the year-ago period. Revenue fell 6 per cent to S$715.6 million from S$758.3 million in the year before.
https://www.businesstimes.com.sg/companies-markets/brc-asia-h1-profit-rises-9-s42-1-million
https://www.zaobao.com.sg/realtime/singapore/story20250513-6336905
CDL to buy back preference shares at S$0.78 each via off-market, equal access scheme
Property player City Developments Limited (CDL) will be repurchasing 10 per cent of its preference shares – or about 26.8 million shares – at S$0.78 a share, it announced in a regulatory filing on Tuesday (May 13).
https://www.zaobao.com.sg/realtime/singapore/story20250513-6337061
Keppel, Huawei to collaborate on solar and battery tech for Asean power grids
The infrastructure division of Keppel will work with Chinese tech giant Huawei International to design and develop solar photovoltaic (PV) systems and battery energy storage system (Bess) technologies for interconnected power grids across South-east Asia.
https://www.zaobao.com.sg/realtime/singapore/story20250513-6331239
Other News
S’pore monitoring rise in Covid-19 cases; no indication variants are more transmissible or severe
The Singapore authorities are monitoring the recent increase in the number of Covid-19 cases, but there is currently no indication that the variants spreading locally are more transmissible or cause more severe symptoms, compared with previous strains.
https://www.channelnewsasia.com/singapore/covid-19-cases-rise-singapore-monitoring-5126281
https://www.zaobao.com.sg/news/singapore/story20250513-6336660
Jail for lorry crane operator who lifted lamp post footing that toppled and fatally struck worker
Despite objections from his supervisor, a lorry crane operator at a construction site lifted a lamp post footing weighing around 4.4 tonnes without checking if other people were around and despite knowing that it was rigged on only one side.
Global Economy / Real Estate News
US inflation comes in softer than forecast for a third month
https://www.straitstimes.com/business/us-consumer-prices-rise-moderately-in-april
https://www.businesstimes.com.sg/international/us-consumer-prices-rise-moderately-april
US slashes ‘de minimis’ tariff on small China parcels to as low as 30%
https://www.channelnewsasia.com/world/us-de-minimis-tariff-cut-packages-china-shipping-post-5125951
Australian family office to build 3,000 homes on UK golf courses
https://www.businesstimes.com.sg/property/australian-family-office-build-3000-homes-uk-golf-courses
China’s factories race to ship goods amid US trade truce: ‘everyone’s rushing’
China-US tariff truce offers Hong Kong exporters 90-day window to ship goods
Hong Kong rushes security law changes, cementing Beijing’s grip
Hong Kong luxury property: mainland buyers pounce on big discounts from local sellers
Multifamily offices could yield bigger benefits for Hong Kong, industry executive says
Indonesia’s plan to cut fuel imports from Singapore could disrupt trade flows, but fallout likely minimal: Analysts
India-Pakistan conflict to hurt travel more than tariffs: regional airport association chief
Bank of Japan upbeat on wages despite US tariffs, sees scope to resume rate hikes
Japan April wholesale prices rise 4.0 pct yr/yr
https://www.channelnewsasia.com/business/japan-april-wholesale-prices-rise-40-pct-yryr-5128316
Japan’s SoftBank Group books first annual profit in four years
Nissan shuts plants, culls jobs after worst loss in 25 years
https://www.straitstimes.com/business/nissan-shuts-plants-culls-jobs-after-worst-loss-in-25-years
Microsoft cutting 6,000 employees in second-biggest layoffs ever
Airbnb revamps app with luxury services, curated tours in push beyond stays
Vietnam cranks up fight on imported counterfeits amid US tariff talks
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.