Singapore Real Estate / Built Environment
Jurong Hill Tower, Turf City grandstands and Dakota Crescent blocks to be conserved
Jurong Hill Tower, two grandstands at Turf City in Bukit Timah and six blocks in Dakota Crescent estate have been put forth for conservation. The state properties were among buildings and structures at five sites that National Development Minister Desmond Lee said the Urban Redevelopment Authority (URA) is proposing to conserve.
https://www.zaobao.com.sg/news/singapore/story20250514-6354036
https://www.zaobao.com.sg/news/singapore/story20250514-6351297
CBRE moves to bigger CBD office in MBFC Tower 1, ups its game
CBRE is moving its client-facing operations to new premises at Marina Bay Financial Centre (MBFC), where it will operate its new central business district (CBD) office from Friday (May 16).
https://www.businesstimes.com.sg/property/cbre-moves-bigger-cbd-office-mbfc-tower-1-ups-its-game
Singapore News
Changi T5 will create new jobs and opportunities for S’poreans: PM Wong at ground-breaking
The development of Changi Airport Terminal 5 (T5) – a “bold move” to keep the Singapore air hub competitive – will raise demand for services and workers, said Prime Minister Lawrence Wong.
https://www.zaobao.com.sg/news/singapore/story20250515-6354522
Singapore businesses dust off contingency plans following recent increase in COVID-19 cases
A recent spike in COVID-19 cases has spurred some businesses to implement additional measures to deal with labour shortage and ensure customer safety. These include hiring more part-time workers, engaging sanitisation services and putting in place protective equipment for staff and customers.
https://www.channelnewsasia.com/singapore/singapore-covid-19-businesses-shortage-health-5128916
Business News
CapitaLand Investment’s Ascott to create over 12,000 jobs globally with over 300 new property openings
Ascott, the lodging business of CapitaLand Investment (CLI), expects to create more than 12,000 jobs – including 1,500 property leadership roles – to support the opening of over 300 properties by 2028. It will launch talent development efforts in preparation, the company said on Wednesday (May 14).
Centurion Q1 revenue up 13% at S$69 million on rental reversions
Dormitory and student accommodation operator Centurion Corporation’s revenue rose 13 per cent to S$69 million for the first quarter ended Mar 31, from S$61.1 million in the year ago period. This was driven by positive rental revisions across markets and strong financial occupancies in both Singapore and the United Kingdom.
Frasers Property makes second bid to privatise Frasers Hospitality Trust in $1.37 billion deal
Thai billionaire Charoen Sirivadhanabhakdi’s Frasers Property is making a second attempt to take private its hospitality real estate investment trust at a valuation of $1.37 billion. The company on May 14 announced an offer of 71 cents in cash per stapled security for Frasers Hospitality Trust (FHT).
https://www.zaobao.com.sg/finance/singapore/story20250514-6346630
Mapletree acquires 18-acre site to develop logistics facility in Chicago
Property developer Mapletree Investments announced on Wednesday (May 14) that it has acquired an 18.11-acre site in Chicago, where it plans to develop a premier logistics facility spanning 276,000 square feet (sq ft).
Paragon Reit to suspend trading on May 15 ahead of delisting
Paragon Reit will suspend trading in its units from 9 am on Thursday (May 15), and bow out of the Singapore Exchange, the manager of the retail real estate investment trust said in a regulatory filing on Wednesday.
Tan Hee Teck to retire as Resorts World Sentosa chairman and Genting Singapore CEO
Resorts World Sentosa (RWS) chairman and chief executive officer Tan Hee Teck will retire from his position on May 31. Mr Tan, 69, is also stepping down as CEO of Genting Singapore, the group said in a bourse filing on May 14.
DBS, OCBC and UOB should review dividend policies amid the deteriorating business outlook
It probably will not surprise anyone that DBS, OCBC and UOB ended Tuesday (May 13) significantly higher – with gains of 1.19 per cent, 0.74 per cent and 1.55 per cent, respectively – after the US and China agreed over the long weekend to temporarily slash the crippling tariffs they had slapped on each other.
Global Economy / Real Estate News
‘Panic and paralysis’: US firms fret despite China tariff reprieve
ABN Amro profit beats estimates on fees, bad loan provisions
Banks upgrade China growth forecast, foreigners flock to Shenzhen: SCMP daily highlights
Foreigners flock to China’s Shenzhen as visa-free entries surge 160%
German property lender PBB to shun new US business
https://www.businesstimes.com.sg/property/german-property-lender-pbb-shun-new-us-business
Editorial | Homes market in need of more competition
https://www.scmp.com/opinion/comment/article/3310352/homes-market-need-more-competition
From gyms to supermarkets, Hong Kong tenants are spoiled for discounts amid retail gloom
Wait time for Hong Kong public rental flat still at 5.3 years, but applications plummet
Japan economic panel urges $400 billion investment to boost SME productivity
Rich Japanese still fear a yen crash, UBS wealth manager says
‘Don’t know what to do’: Johor Bahru’s heritage businesses near RTS station grapple with rising rents, inflation
E-commerce sales in South-east Asia to more than double to US$410 billion by 2030: DBS report
https://www.zaobao.com.sg/finance/singapore/story20250515-6351855
Fractional platform RealVantage ties up with ESR to invest US$55 million in South Korean logistics facility
Thailand’s worsening outlook led to April rate cut: central bank minutes
Toronto home sellers slashing prices, offering big discounts
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.