Singapore Real Estate / Built Environment
7 buildings in Tampines begin using shared cooling system, cutting emissions and saving energy
A shared cooling system connecting seven buildings in Tampines began operations in early March, and talks are under way to bring more neighbouring buildings into the network. Tampines is Singapore’s first town centre to be retrofitted with this system. The project is the first of its kind to be built on already developed land.
Keppel pivots to brownfield redevelopment projects following completion of Keppel South Central
Company fined $49k for damaging water main and causing Marine Parade flood
A construction company that damaged a water main and caused a flood in Marine Parade in October 2024 was fined $49,000 on March 11. National water agency PUB said on March 14 that Pal-Link Construction damaged a potable water main and performed works within a water pipe corridor without prior approval on Oct 4, 2024.
https://www.channelnewsasia.com/singapore/marine-parade-flood-water-pipe-damage-firm-fined-4999926
https://www.zaobao.com.sg/news/singapore/story20250314-6019019
Singapore Economy/News
Singapore and Thai businesses, associations ink 5 MOUs to strengthen trade and investment relations
Singapore and Thailand businesses and associations have signed five memoranda of understanding (MOUs) to deepen trade and investment relations between both countries. The MOUs were signed on the sidelines of the 7th Singapore-Thailand Enhanced Economic Relationship Ministerial Meeting on Friday (Mar 14), which marked 60 years of diplomatic ties between the two.
https://www.channelnewsasia.com/singapore/singapore-thailand-sign-mou-60-years-relations-4999806
Singapore’s key exports up 7.6% in February, reversing from January drop
Singapore’s non-oil domestic exports (NODX) grew 7.6 per cent in February, reversing from the previous month’s contraction, as both electronics and non-electronics exports charted increases, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Mar 17).
Sora, benchmark interest rate for home loans in S’pore, falls to lowest since end-2022
Singapore’s money-market rates have dropped as traders shrug off the central bank’s first monetary policy shift in five years. The Singapore Overnight Rate Average, the de facto standard for Singapore’s loan products including home loans, fell to 2.08 per cent on March 13, the lowest since Dec 30, 2022.
Business News
Banyan Tree unit acquires stakes in two resort investment and development companies for S$5.5 million
Hospitality group Banyan Tree said on Friday (Mar 14) that the indirect subsidiary of its subsidiary – Laguna Resorts & Hotels Public Company – has bought over stakes in two resort investment and development companies from NSL Resorts International for S$5.5 million.
Soilbuild Construction makes a comeback
The pandemic years of 2020 to 2022 were challenging years for Soilbuild Construction. Revenue and profits slumped as construction activity – and the world – came to a halt.
https://www.businesstimes.com.sg/companies-markets/soilbuild-construction-makes-comeback
Global Economy & Real Estate
Trump administration weighs travel ban on dozens of countries: memo
https://www.channelnewsasia.com/world/trump-administration-travel-ban-dozens-countries-memo-5002176
Trump poised to launch new round of layoffs despite setbacks in court
Trump administration deports hundreds of migrants, despite judge’s order stopping removal
US consumer sentiment plunges on tariff fears, inflation expectations jump
Bank of America lays off 16 investment bankers in Hong Kong in global trim: sources
Asean trade booms, poised to rank among world’s fastest by 2029: report
Australian inflation may quicken after cyclone, Treasurer Jim Chalmers warns
Blackstone’s US$17 billion property lending arm isn’t giving up on its office bets
China unveils plan to boost domestic consumption
https://www.businesstimes.com.sg/international/china-unveils-plan-boost-domestic-consumption
https://www.straitstimes.com/asia/china-looks-to-boost-consumption-amid-consumer-squeeze
China February bank lending slows more than expected as US tariffs add to uncertainty
China ramps up criticism of Li Ka-shing’s BlackRock ports deal
Li Ka-shing has little to lose as China threatens Panama deal
Deutsche Bank sees more headwinds from commercial real estate
https://www.businesstimes.com.sg/property/deutsche-bank-sees-more-headwinds-commercial-real-estate
Euro gains after German fiscal deal raises hopes of reviving growth
Polls predict pay rises for Hong Kong professionals, with some hitting 5%
Hong Kong urged to make Northern Metropolis ‘special zone’ to speed up work
ICBC Asia backs Hong Kong developers with stable loan support amid sector’s challenges
China Vanke’s Hong Kong unit sees strong sales in Tai Po project despite mortgage concerns
Japan’s GDP growth imperils 2% defence spending target
https://www.businesstimes.com.sg/international/japans-gdp-growth-imperils-2-defence-spending-target
Banks boom and shoppers scrimp a year after Japan’s rate pivot
South Korea asks US for tariff exemption, trade ministry says
https://www.channelnewsasia.com/east-asia/south-korea-asks-us-tariff-exemption-5002026
Interest rate of 2% robust for current circumstances: BOT chief
Thai household debt stablising, measures planned to ease credit, minister says
Expressway bridge under construction in Bangkok collapses, killing at least 5 people
https://www.channelnewsasia.com/asia/expressway-bridge-bangkok-collapse-killed-5002426
UK economy shrinks in January in fresh setback for Labour
https://www.businesstimes.com.sg/international/uk-economy-shrinks-january-fresh-setback-labour
London homebuyers in last ditch effort to dodge stamp duty hike
https://www.businesstimes.com.sg/property/london-homebuyers-last-ditch-effort-dodge-stamp-duty-hike
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