Singapore Real Estate / Built Environment
JTC to reclaim about 49 ha of land off Lorong Halus to meet future demand
About 49 hectares (ha) of land will be reclaimed in the waters off Lorong Halus in Pasir Ris by industrial developer JTC to meet future needs, including for industrial use, The Straits Times has learnt.
https://www.zaobao.com.sg/news/singapore/story20250516-6394986
Duxton Reserve hotel sold to Lotus One Investment for S$80 million
Duxton Reserve, a 49-key boutique hotel in Tanjong Pagar, has been sold by Singapore-based hospitality company The Garcha Group to a family office for S$80 million, or about S$1.63 million per key.
https://www.businesstimes.com.sg/property/duxton-reserve-hotel-sold-lotus-one-investment-s80-million
https://www.zaobao.com.sg/realtime/singapore/story20250516-6396161
Fewer property flippers in condo sub-sale market, but deals in Q1 still ‘highly profitable’
Sub-sale volumes in Singapore’s private housing market – where buyers can “flip” a new unit before the project is completed – are on the decline, with speculative buying dampened by cooling measures and wider economic uncertainty now exacerbated by tariff-induced volatility.
Singapore News
Singapore may get preferential tariff or exemption for pharmaceutical exports in US trade talks: DPM Gan
There is a prospect that Singapore’s pharmaceutical exports to the United States may be tariff-free, based on ongoing trade negotiations between the two countries.
https://www.zaobao.com.sg/news/singapore/story20250517-6400515
Changes to Singapore Economic Resilience Taskforce members possible after Cabinet reshuffle: DPM Gan
Adjustments may be made to the composition of the Singapore Economic Resilience Taskforce when the new Cabinet line-up is announced, said Deputy Prime Minister Gan Kim Yong. Prime Minister Lawrence Wong is widely expected to announce changes to his Cabinet soon, following the May 3 General Election.
New campaign to urge S’pore home, business, building owners to set air-cons at 25 deg C
A new campaign to urge home, business and building owners to turn up their thermostats was launched on May 16. Called the Go 25 movement, it encourages Singapore residents to set the indoor air-conditioning temperature in their homes, offices and buildings at 25 deg C. The campaign is an initiative housed under Go Green SG 2025.
Business News
More attractive land prices for Singapore tenders ahead, says Citi, giving its top developer pick
More attractive land prices could be on the horizon for eight upcoming government tenders from May to September this year, in support of developers’ land replenishment exercises, said Citi equity research analyst Brandon Lee in his Thursday (May 15) report.
Citi to cut up to 200 tech contractor roles in China
Citigroup is cutting up to 200 information technology (IT) contractor roles in China, two people familiar with the matter said, as the bank looks to hire its own staff globally for such operations to improve risk management and data governance.
FCT to draw on additional debt financing to fund Northpoint City acquisition
The acquisition of Northpoint City’s south wing may be financed either with or without the issuance of perpetual securities, said the manager of Frasers Centrepoint Trust (FCT) in a bourse filing on Saturday (May 17).
Shares of Ong Beng Seng’s HPL jump over 9%; company says it’s unaware of reason for intraday spike
Shares of Hotel Properties Limited (HPL) rose as much as 9.3 per cent to $4.72 in morning trading on May 16, prompting a query from Singapore Exchange Regulation (SGX RegCo).
No plans for layoffs; HK$1.5 billion investment in Greater China to continue: OCBC’s Helen Wong
OCBC has no plans to implement “major” layoffs despite macroeconomic uncertainties arising from US tariffs, said the bank’s group chief executive officer Helen Wong on Friday (May 16). “We’re growing, so why would we be thinking about letting people go?” she said.
Offeror says Sinarmas Land offer price is final, extends offer period to Jun 2
Lyon Investments said on Sunday (May 18) that its offer price of S$0.375 per share of Singapore-listed property developer Sinarmas Land is final, and that it does not intend to revise the current offer price. It will also extend the closing date of the offer from May 29 to Jun 2, 5.30pm.
Global Economy / Real Estate News
Trump says US will set tariff rates for other nations in weeks
Trump’s tariff tide lifts Asean ports again – some more than others
US import prices unexpectedly rise in April
https://www.businesstimes.com.sg/international/us-import-prices-unexpectedly-rise-april
Price hikes are beginning to threaten the American consumer
https://www.businesstimes.com.sg/international/price-hikes-are-beginning-threaten-american-consumer
Voice of America building latest federal property up for sale
https://www.businesstimes.com.sg/property/voice-america-building-latest-federal-property-sale
Pan Pacific Hotels upgrades its Perth property as it eyes Australia’s growing Mice industry
China-US trade truce prompts nations to consider tougher tactics
Tariff cuts ease mass China layoffs threat, but job market pain persists
Timing not right yet for overhaul of China home sales market: state media
Some China companies eyeing Singapore listings to expand markets amid trade war: sources
Dubai’s red-hot real estate attracts big name backers, including Mapletree
Hong Kong economy expands 3.1% in Q1
https://www.businesstimes.com.sg/international/hong-kong-economy-expands-3-1-q1
https://www.channelnewsasia.com/business/hong-kong-economy-expands-31-first-quarter-5134596
US importers urging Hong Kong manufacturers ‘to bypass levies’ amid trade war
Hong Kong will weather tariff storm, finance chief says, touting ‘brisk’ IPO market
Hong Kong seeks to turn To Kwa Wan into ‘world-class’ cove for dining, concerts
Mainland Chinese retailers take advantage of falling rents to expand Hong Kong presence
Hong Kong property: new pricing weighs on home market as tariff war hurts demand
Distressed Hong Kong builder Parkview gets private loan from PAG
Buyers snap up all of SHKP’s Sierra Sea flats on sale as hot streak continues
Malaysia’s Q1 GDP growth meets expectation, but outlook remains clouded by external risks
https://www.channelnewsasia.com/business/malaysias-economy-grows-44-q1-5134131
Malaysia committed to 2025 petrol subsidy cut but no fixed date
Thai construction magnate surrenders on felony negligence charges over building collapse in quake
UK and EU poised to grasp post-Brexit reset as talks go to wire
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