Singapore Real Estate / Built Environment
New private home sales bounce back in September after seasonal lull
Developers’ sales regained some footing in September after clocking their lowest-ever sales figure for the month of August since official records were made available by the Urban Redevelopment Authority (URA) in 2007.
https://www.businesstimes.com.sg/property/new-private-home-sales-bounce-back-september-after-seasonal-lull
https://www.straitstimes.com/singapore/housing/new-private-home-sales-bounce-back-in-september-after-seasonal-lull
LHN puts three freehold co-living properties up for sale for S$120 million
Three freehold co-living properties have been put up for sale for a guide price of S$120 million by property management services group LHN.
https://www.businesstimes.com.sg/property/lhn-puts-three-freehold-co-living-properties-sale-s120-million
Three adjoining shophouses in Bugis area sell for S$72 million
Three adjoining shophouses along North Bridge Road opposite Bugis Junction are being sold for a total of S$72 million.
https://www.businesstimes.com.sg/property/three-adjoining-shophouses-bugis-area-sell-s72-million
Singapore Economy
Public transport fares should not be tied to service levels, disruptions: Chee Hong Tat
Public transport fares should not be tied to service levels or disruptions, Transport Minister Chee Hong Tat said in Parliament on Tuesday (Oct 15).
https://www.businesstimes.com.sg/singapore/economy-policy/public-transport-fares-should-not-be-tied-service-levels-disruptions-chee-hong-tat
https://www.straitstimes.com/singapore/politics/mrt-disruptions-should-be-separated-from-how-public-transport-fares-are-set-chee-hong-tat
https://www.channelnewsasia.com/singapore/east-west-line-train-disruption-chee-hong-tat-4678956
https://www.zaobao.com.sg/news/singapore/story20241016-5138051
S’pore must balance worker protection with business flexibility to keep jobs here in long term: Zaqy
Singapore – Even as Singapore sets out to protect workers from unfair treatment during retrenchment exercises, it must also provide business flexibility that preserves and creates good jobs here for the long haul.
https://www.straitstimes.com/singapore/politics/s-pore-must-balance-worker-protection-with-business-flexibility-to-keep-jobs-here-in-long-term-zaqy
https://www.channelnewsasia.com/singapore/dyson-retrenchment-mom-unions-4678836
https://www.zaobao.com.sg/news/singapore/story20241016-5137641
Singapore SMEs continue to expand in Q3, except for those in ICT: OCBC
Singapore – Singapore’s small and medium-sized enterprises (SMEs) extended their growth momentum for a second consecutive quarter, according to the latest OCBC SME Index released on Oct 15.
https://www.straitstimes.com/business/companies-markets/singapore-smes-continued-to-expand-in-q3-except-for-ict-ocbc
https://www.businesstimes.com.sg/singapore/smes/singapore-smes-extend-expansionary-momentum-q3-ocbc
Singapore ranks second in Apac for ESG bonds issuance in H1 2024: MSCI
The growing prominence of labelled bonds in global bond benchmarks in H1 2024 suggests that these bonds are growing faster than the wider bond market, said MSCI following research on green, social and sustainability labelled bonds.
https://www.businesstimes.com.sg/esg/singapore-ranks-second-apac-esg-bonds-issuance-h1-2024-msci
Business News
CDL Hospitality Trusts acquires boutique hotel in England for £19.4 million
CDL Hospitality Trusts (CDLHT) is acquiring an upscale lifestyle boutique hotel in Exeter, England, as well as two retail units in the hotel for about £19.4 million (S$33.2 million), its managers announced on Tuesday (Oct 15).
https://www.businesstimes.com.sg/companies-markets/cdl-hospitality-trusts-acquires-boutique-hotel-england-ps19-4-million
Citigroup profit drops on bigger stockpiles for potential loan losses
Citigroup’s profit fell 9 per cent in the third quarter as it set aside more money to cover loans that may not be repaid, particularly on credit cards.
https://www.businesstimes.com.sg/companies-markets/banking-finance/citigroup-profit-drops-bigger-stockpiles-potential-loan-losses
https://www.channelnewsasia.com/business/citigroup-profit-beats-estimates-investment-banking-surge-4679856
Global Economy & Real Estate
Global public debt to hit US$100 trillion by end of 2024: IMF
https://www.businesstimes.com.sg/international/global-public-debt-hit-us100-trillion-end-2024-imf
Bank of America profit beats expectation on investment banking, trading strength
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-america-profit-beats-expectation-investment-banking-trading-strength
US holiday sales to grow up to 3.5% in 2024, NRF forecasts
https://www.businesstimes.com.sg/international/us-holiday-sales-grow-3-5-2024-nrf-forecasts
https://www.straitstimes.com/business/us-holiday-sales-growth-expected-to-normalise-in-an-abnormal-year
Australia PM launches affordable housing plan, buys $2.9 million ocean home
https://www.businesstimes.com.sg/property/australia-pm-launches-affordable-housing-plan-buys-2-9-million-ocean-home
Home sales, prices rise in Canada as more households test market
https://www.businesstimes.com.sg/property/home-sales-prices-rise-canada-more-households-test-market
China housing minister plans briefing after Beijing vows support
https://www.businesstimes.com.sg/property/china-housing-minister-plans-briefing-after-beijing-vows-support
Top Chinese developers’ sales up slightly in September following Beijing support
https://www.scmp.com/property/article/3282410/top-chinese-developers-sales-slightly-september-following-beijing-support
Eurozone economy shows some signs of growth
https://www.businesstimes.com.sg/international/eurozone-economy-shows-some-signs-growth
Hong Kong SMEs’ loan defaults balloon to HK$14.72 billion burden on government
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3282476/hong-kong-smes-loan-defaults-balloon-hk1472-billion-burden-government
Hongkongers aged under 40 to find easier path to buying a home in policy address
https://www.scmp.com/news/hong-kong/politics/article/3282507/hongkongers-aged-under-40-find-easier-path-buying-home-policy-address
Hong Kong developer prices Cheung Sha Wan flats at 2016 levels as rebound proves elusive
https://www.scmp.com/business/article/3282481/hong-kong-developer-prices-cheung-sha-wan-flats-2016-levels-rebound-proves-elusive
Japan August machinery orders fall 1.9% m/m, worse than expected
https://www.channelnewsasia.com/business/japan-august-machinery-orders-fall-19-m-m-worse-expected-4681016
Petrol subsidy cuts, new taxes and wage increases to be focus of Malaysia’s 2025 Budget: Analysts
https://www.channelnewsasia.com/asia/malaysia-budget-2025-anwar-ron95-gst-subsidy-4679666
New Zealand sees annual inflation at 2.2%, now within central bank target range
https://www.businesstimes.com.sg/international/new-zealand-sees-annual-inflation-2-2-now-within-central-bank-target-range
Cooler home prices in Seoul support Bank of Korea’s policy pivot
https://www.businesstimes.com.sg/property/cooler-home-prices-seoul-support-bank-koreas-policy-pivot
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