The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 17 Mar 2023 (Fri)

Singapore Real Estate


Luxury property rents increase faster in Singapore than New York
Singapore pushed New York off the top spot for the strongest growth in residential rents in the last quarter of 2022, fuelled by a supply crunch and strong demand. The city-state saw annual rents jump 28 per cent in the quarter from a year earlier, according to a report by Knight Frank. New York followed with 19 per cent growth, while London and Toronto took the third and fourth spots, according to the survey of prime residential rents across 10 cities.


UOL Group to launch Pan Pacific London-branded The Sky Residences in Singapore
Having sold out most of the units in the residential projects launched in Singapore last year, property giant UOL Group hopes to repeat that feat at its flagship Pan Pacific Hotel-branded residences, The Sky Residences, in London’s One Bishopsgate Plaza.



Singapore Economy


Singapore, Indonesia ink agreements on tech talent, smart cities during Jokowi’s visit
Singapore and Indonesia are exploring cooperation in new areas such as tech talent and smart cities, following the resolution of longstanding bilateral issues, including over airspace, both leaders said at an annual leaders’ retreat in the city-state on Thursday (Mar 16).


Singapore key exports contract 15.6% in February in fifth straight month of decline
Singapore’s key exports contracted for the fifth straight month in February, albeit at a slower pace than the month before, as the decline in non-electronic shipments eased, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Mar 17).


Analysts remain ‘overweight’ on Singapore banks; SVB seen as a ‘non-event’ for the sector
Analysts are remaining positive on the Singapore banking sector following the collapse of US banks, Silicon Valley Bank (SVB) and Signature Bank. SVB closed on March 10 while Signature Bank was shut down on March 12.


Government remains most trusted institution in Singapore, amid global trend of societal polarisation: Survey
Singapore — The Government remains the institution most trusted by people in Singapore with trust levels at a high, even as business leaders in many other countries command more trust than their political counterparts.



Companies’ Brief


Keppel and Cambodian group ink pact to create Singapore’s largest cross-border electricity contract
Keppel Corp : has inked a pact with Cambodia’s Royal Group Power for the long-term import and sale of one gigawatt (GW) of low-carbon electricity, in a move that marks Singapore’s largest cross-border electricity contract and progress in the city-state’s decarbonisation goals for the power sector.


PwC’s 4,000 legal staffers get AI assistant as law chatbots gain steam
PricewaterhouseCoopers (PwC) said on Wednesday (Mar 15) that it will give 4,000 of its legal professionals access to an artificial intelligence (AI) platform, becoming the latest firm to introduce generative AI technology for legal work.



Global Economy & Real Estate


US single-family housing starts, building permits rebound in February

Global recession, or worse, increasingly likely

Fed was the ‘culprit’ on SVB, Signature bankruptcies, Wood says

How the SVB collapse will change US banks and tech

UK woos corporate investment with tax breaks in latest budget

ECB raises rates as planned despite banking turmoil

Japan trade deficit narrows sharply from record as imports slow

Hong Kong’s December-February unemployment eases to 3.3%

Li Ka-shing’s flagship companies post rise in net profit, showcase strength of diverse portfolio

Multibillion-dollar funding request for Hong Kong light public housing scheme on track to secure unanimous backing from lawmakers

Indonesia central bank leaves interest rates unchanged


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