Singapore Real Estate / Built Environment
Buyers sweep up almost 1,500 new homes in 3 weekend launches; Emerald of Katong 99% sold
A staggering1,480 new condominium units flew off the market over the weekend, with Emerald of Katong, Nava Grove, and executive condo project Novo Place chalking up the strongest launch sales the real estate trade has seen in the recent past.
https://www.businesstimes.com.sg/property/buyers-sweep-almost-1500-new-homes-3-weekend-launches-emerald-katong-99-sold
https://www.zaobao.com.sg/realtime/singapore/story20241117-5358989
New private home sales rise in October, buoyed by major launches
New private home sales were pushed up in October with two major projects, Meyer Blue and Norwood Grand, launched during the month. Urban Redevelopment Authority data released on Friday (Nov 15) indicated there were 738 private residential units, excluding executive condominiums (ECs), sold in October, and 534 units launched in the same month.
https://www.businesstimes.com.sg/property/new-private-home-sales-rise-october-buoyed-major-launches
https://www.straitstimes.com/singapore/housing/new-private-home-sales-surge-in-october-as-market-continues-to-rebound
https://www.zaobao.com.sg/realtime/singapore/story20241115-5351337
REDAS celebrates 65th anniversary, honours Chia Ngiang Hong with Lifetime Achievement Award
The Real Estate Developers’ Association of Singapore (REDAS) celebrated its 65th anniversary two days earlier. “Turning 65 may mean receiving CPF [Central Provident Fund] retirement payouts for some,” says Tan Swee Yiow, president of REDAS, in his welcome speech at the anniversary dinner on Nov 15, held at the Marina Bay Sands ballroom. President of Singapore Tharman Shanmugaratnam was the guest of honour at the event.
https://www.edgeprop.sg/property-news/redas-celebrates-65th-anniversary-honours-chia-ngiang-hong-lifetime-achievement-award
https://www.zaobao.com.sg/finance/singapore/story20241115-5353847
From ‘cowboy’ times to cooling measures: real estate veteran Chia Ngiang Hong on Singapore’s market
Covid-19 was ‘the mother of all challenges’ for real estate industry: CDL’s Chia Ngiang Hong
The real estate sector in Singapore has become “very orderly, transparent and very reliable” over the past 40 years, said industry veteran Chia Ngiang Hong, adding that for property development to remain a viable business, the government can consider relooking some restrictions.
https://www.businesstimes.com.sg/property/cowboy-times-cooling-measures-real-estate-veteran-chia-ngiang-hong-singapores-market
https://www.businesstimes.com.sg/property/covid-19-was-mother-all-challenges-real-estate-industry-cdls-chia-ngiang-hong
Singapore’s office market: A temporary pause or a prelude to a structural decline?
The Singapore office market performed well after the Covid-19 pandemic. According to CBRE Research, Core CBD (Grade A) office rents rose by 14.9 per cent over 12 consecutive quarters since Q1 2021.
https://www.businesstimes.com.sg/property/bt-property-week-nov-2024/singapores-office-market-temporary-pause-or-prelude-structural-decline
Bringing quirky back: Strata commercial property’s unique place
In A real estate landscape that is as broad and diverse as Singapore, strata commercial properties have carved out a unique niche. This asset class encompasses both strata office and strata retail spaces, that can appeal to the individual investor, institutions, as well as businesses that are owner occupiers.
https://www.businesstimes.com.sg/property/bt-property-week-nov-2024/bringing-quirky-back-strata-commercial-propertys-unique-place
Wave of asset rejuvenation to come in Singapore industrial real estate
Despite a heightened interest rate environment and slower economic growth, the Singapore industrial property market continues to see healthy growth. Sentiment in the manufacturing sector has picked up on the back of a pick-up in global manufacturing demand.
https://www.businesstimes.com.sg/property/bt-property-week-nov-2024/wave-asset-rejuvenation-come-singapore-industrial-real-estate
Singapore Economy
Singapore offers to host Apec summit in 2030
Singapore has offered to host the Asia-Pacific Economic Cooperation (Apec) summit in 2030, said Prime Minister Lawrence Wong on Saturday (Nov 16).
https://www.businesstimes.com.sg/singapore/singapore-offers-host-apec-summit-2030
https://www.straitstimes.com/singapore/politics/singapore-to-host-apec-summit-in-2030
https://www.channelnewsasia.com/singapore/singapore-apec-summit-2030-lawrence-wong-4752481
https://www.zaobao.com.sg/realtime/singapore/story20241117-5357843
Singapore and Malaysia sign MOU to combat transnational crimes
Singapore and Malaysia signed a Memorandum of Understanding (MOU) on Thursday (Nov 14) to deepen cooperation in preventing and combating transnational crimes.
https://www.channelnewsasia.com/singapore/singapore-malaysia-mou-combat-transnational-crimes-4751531
https://www.zaobao.com.sg/realtime/singapore/story20241116-5355660
Singapore NODX disappoints further with October exports down 4.6%
Singapore’s key exports fell by 4.6 per cent year on year in October, coming in worse than what the authorities were expecting, as non-electronic shipments decreased sharply, data from Enterprise Singapore (EnterpriseSG) showed on Monday (Nov 18).
https://www.businesstimes.com.sg/singapore/singapore-nodx-disappoints-further-october-exports-down-4-6
https://www.zaobao.com.sg/realtime/singapore/story20241118-5361229
Singapore looks to Asean neighbours for green power to meet carbon goals
Singapore will increase imports of green electricity from fellow members of the Association of Southeast Asian Nations (Asean) as it seeks to decarbonise its power system to help meet its climate goals, an energy official said.
https://www.businesstimes.com.sg/international/asean/singapore-looks-asean-neighbours-green-power-meet-carbon-goals
Companies can get up to S$72,000 in wage support to send staff abroad
Companies seeking to expand overseas can receive up to S$72,000 in salary and overseas allowance support to send their employees abroad under a new Workforce Singapore (WSG) programme.
https://www.businesstimes.com.sg/singapore/companies-can-get-s72000-wage-support-send-staff-abroad
https://www.straitstimes.com/business/16m-fund-for-employers-to-post-250-workers-overseas-in-boost-to-spore-business-network
https://www.channelnewsasia.com/singapore/overseas-markets-immersion-programme-funding-firms-send-employees-overseas-career-development-4749536
Business News
CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13
Share buybacks can be used for employee compensation plans, such as share option schemes or employee share purchase plans, as well as for long-term capital management.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-leads-buyback-consideration-tally-2024-till-nov-13
Frasers Property to redevelop Robertson Walk assets with Sekisui House
Frasers Property’s apartment hotel Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk, will be redeveloped into a mixed-use project with 348 residential units.
https://www.businesstimes.com.sg/companies-markets/frasers-property-redevelop-robertson-walk-assets-sekisui-house
LHN making the most of shared spaces
Roughly half a decade has elapsed since LHN marked its pivot into co-living with Coliwoo – which has now become a flagship brand for the mainboard-listed real estate manager.
https://www.businesstimes.com.sg/companies-markets/lhn-making-most-shared-spaces
Resorts World Sentosa’s S$6.8 billion waterfront expansion to open in 2030
Genting Singapore’s Resorts World Sentosa (RWS) plans to complete a major expansion by 2030, in its bid to attract more visitors to the integrated resort (IR) amid falling earnings.
https://www.businesstimes.com.sg/property/resorts-world-sentosas-s6-8-billion-waterfront-expansion-open-2030
https://www.channelnewsasia.com/singapore/sentosa-rws-uss-tourism-attraction-sea-aquarium-4748201
S-Reits remain active in acquisitions and divestments as managers eye growth
Singapore-listed real estate investment trusts (S-Reits) have been active in their portfolio management activities in the fourth quarter to date, as managers look to optimise assets and capture growth.
https://www.businesstimes.com.sg/companies-markets/s-reits-remain-active-acquisitions-and-divestments-managers-eye-growth
Views, Reviews, Forum and Others
MOM to open new dorm in early 2026 with privacy nooks, single beds for migrant workers
Singapore – A new foreign worker dormitory in Jurong – the first to be built and owned by the Government – will offer more personal space and privacy to its residents when it opens in early 2026.
https://www.straitstimes.com/singapore/mom-unveils-new-designs-for-migrant-worker-dormitories
https://www.zaobao.com.sg/realtime/singapore/story20241117-5358143
Bukit Timah Road hit by flash flood as northwest Singapore experiences one of highest daily rainfalls since 1978
Heavy downpour caused a flash flood along Bukit Timah Road on Saturday (Nov 16) as the northwestern part of Singapore received one of the highest recorded daily rainfalls in 46 years. The flash flood occurred near King Albert Park MRT station at around 3.20pm due to high water levels in the adjacent drains as well as Bukit Timah Canal, said Singapore’s national water agency PUB in a Facebook post.
https://www.channelnewsasia.com/singapore/heavy-rain-flash-flood-risk-bukit-timah-pub-warning-4751796
Global Economy & Real Estate
Gold faces worst week since 2021 as US Fed signals no rate-cut rush
https://www.straitstimes.com/business/gold-faces-worst-week-since-2021-as-fed-signals-no-rate-cut-rush
US retail sales slightly above expectations in October
https://www.businesstimes.com.sg/international/us-retail-sales-slightly-above-expectations-october
US import prices unexpectedly rise in October
https://www.businesstimes.com.sg/international/us-import-prices-unexpectedly-rise-october
Canadian home sales post ‘October surprise’ as buyers flood back
https://www.businesstimes.com.sg/property/canadian-home-sales-post-october-surprise-buyers-flood-back
China’s Oct data shows soft economic underbelly, Trump threat looms large
https://www.businesstimes.com.sg/international/chinas-oct-data-shows-soft-economic-underbelly-trump-threat-looms-large
China retail sales pick up speed, beats forecasts in October
https://www.businesstimes.com.sg/international/china-retail-sales-pick-speed-beats-forecasts-october
https://www.straitstimes.com/business/economy/chinas-economy-stabilises-as-consumption-rises-more-than-expected
China’s home prices fall fastest in 9 years, but officials see signs of stabilisation
https://www.businesstimes.com.sg/property/chinas-home-prices-fall-fastest-9-years-officials-see-signs-stabilisation
https://www.straitstimes.com/business/property/china-home-prices-fall-at-slower-pace-after-stimulus-boost
China Mobile in talks to buy Hong Kong tower seized from tycoon
https://www.businesstimes.com.sg/property/china-mobile-talks-buy-hong-kong-tower-seized-tycoon
Iron ore slumps on China property concerns, firmer supply
https://www.businesstimes.com.sg/companies-markets/energy-commodities/iron-ore-slumps-china-property-concerns-firmer-supply
EU sees eurozone growth ticking up in 2025, but risks loom
https://www.businesstimes.com.sg/international/eu-sees-eurozone-growth-ticking-2025-risks-loom
Hong Kong expects growth to slow as sluggish demand weighs
https://www.businesstimes.com.sg/international/hong-kong-expects-growth-slow-sluggish-demand-weighs
https://www.channelnewsasia.com/business/hong-kongs-q3-gdp-expands-18-year-2024-growth-forecast-revised-25-4749866
Hong Kong’s first private residence for elderly set to welcome retirees who can afford it
https://www.scmp.com/news/hong-kong/society/article/3286939/hong-kongs-first-private-residence-elderly-set-welcome-retirees-who-can-afford-it
The design secrets of Hong Kong’s private housing estates
https://www.scmp.com/postmag/design-interiors/article/3286743/design-secrets-hong-kongs-private-housing-estates
Israel inflation steady at 3.5% in October, stays above target
https://www.businesstimes.com.sg/international/israel-inflation-steady-3-5-october-stays-above-target
Japan October inflation likely eased, exports picked up
https://www.channelnewsasia.com/business/japan-october-inflation-likely-eased-exports-picked-reuters-poll-4749411
Malaysia economy sustains strong growth with investment surge
https://www.straitstimes.com/business/economy/malaysia-economy-sustains-strong-growth-with-investment-surge
https://www.channelnewsasia.com/business/malaysias-economy-loses-steam-q3-lower-oil-gas-output-4749396
Why is it so expensive to build housing in New York?
https://www.businesstimes.com.sg/property/why-it-so-expensive-build-housing-new-york
UK economy contracts in September in blow to Reeves’ growth push
https://www.businesstimes.com.sg/international/uk-economy-contracts-september-blow-reeves-growth-push
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