Singapore Real Estate
Strong demand for ECs could spur competition for Pasir Ris GLS site
The Housing and Development Board (HDB) has launched an executive condominium (EC) site at Jalan Loyang Besar for sale via tender, under the government land sales programme’s (GLS) confirmed list for the first half of 2024.
https://www.businesstimes.com.sg/property/strong-demand-ecs-could-spur-competition-pasir-ris-gls-site
https://www.straitstimes.com/singapore/hdb-launches-executive-condo-site-opposite-downtown-east-in-pasir-ris-for-tende
Punggol Digital District to open from Q3 with 65% of space pre-committed
Punggol Digital District, a massive new business park campus coming up in north-eas
ern Singapore, will open progressively from the third quarter of the year, with some 65 per cent of space in eight towers pre-committed.
https://www.businesstimes.com.sg/property/punggol-digital-district-open-q3-65-space-pre-committed
https://www.straitstimes.com/business/punggol-digital-district-takes-shape-with-two-thirds-of-space-pre-committed
https://www.channelnewsasia.com/singapore/punggol-digital-district-opening-ev-chargers-cycling-4324081
Retail units at 20 Cecil Street for sale from S$3.8 million
Eight ground-floor strata retail units at 20 Cecil Street have been put on the market for individual sale by private treaty, with asking prices ranging from S$3.8 million to S$7.75 million. Based on the units’ strata area range of 388 to 807 square feet, this translates to a per square foot (psf) price of about S$9,603 to S$9,794.
https://www.businesstimes.com.sg/property/retail-units-20-cecil-street-sale-s-3-8-million
Singapore Economy
Singapore’s monetary policy should remain tight until inflationary pressures recede: IMF
A team from the International Monetary Fund (IMF) has said at the close of its visit to Singapore that as the economy recovers amid gradual disinflation, the Republic’s monetary policy should remain tight until inflationary pressures recede.
https://www.businesstimes.com.sg/singapore/economy-policy/singapores-monetary-policy-should-remain-tight-until-inflationary-pressures-recede-imf
https://www.straitstimes.com/business/singapore-s-monetary-policy-should-remain-tight-until-inflationary-pressures-recede-imf
Singapore tourist arrivals dip to 1.36 million in April, after March’s Taylor Swift-led high
Singapore’s international visitor arrivals slipped in April from March’s Taylor Swift-induced high, marking the lowest number of arrivals in the year to date. The city-state welcomed 1.36 million tourists last month, based on the latest figures from the Singapore Tourism Board (STB) on Thursday (May 16).
https://www.businesstimes.com.sg/singapore/singapore-tourist-arrivals-dip-1-36-million-april-after-marchs-taylor-swift-led-high
https://www.straitstimes.com/business/singapore-tourist-arrivals-dip-to-136-million-in-april-after-march-s-taylor-swift-led-high
Singapore export slump eases as shipments fall 9.3% in April
Singapore – Singapore’s non-oil domestic exports (Nodx) fell 9.3 per cent to $13.9 billion in April from a year earlier, easing from the revised 20.8 per cent contraction in March 2024. Trade agency Enterprise Singapore (EnterpriseSG) said on May 17 that the decline was from a high base a year ago when April exports of $15.4 billion were higher than the monthly average of $14.4 billion for the year.
https://www.straitstimes.com/business/singapore-export-slump-eases-as-shipments-fall-93-in-april
https://www.businesstimes.com.sg/singapore/singapores-key-exports-shrink-slightly-larger-expected-9-3-april-easing-march
Business News
Centurion JV leases 15 floors of Hong Kong building for student accommodation business
A joint venture of Centurion Corporation has leased 15 floors of a building in Hong Kong from Golden Well Development, with the intention of using the space for student accommodation, the dormitory operator said on Thursday (May 16).
https://www.businesstimes.com.sg/companies-markets/centurion-jv-leases-15-floors-hong-kong-building-student-accommodation-business
ESR eyes fourth data centre in Japan
ESR Group on Thursday (May 16) announced plans to develop its fourth data centre in Japan, a 60-megawatt project located in Ariake in central Tokyo. The asset manager currently has three data centres in the country: Cosmosquare Data Centre campus in Osaka; Keihanna Data Centre campus in Kyoto; and Higashi Kurume Data Centre in Tokyo.
https://www.businesstimes.com.sg/property/esr-eyes-fourth-data-centre-japan
Global Economy & Real Estate
US Fed officials suggest interest rates should stay high for longer
https://www.businesstimes.com.sg/international/us-fed-officials-suggest-interest-rates-should-stay-high-longer
US import prices increase by the most in two years in April
https://www.businesstimes.com.sg/international/us-import-prices-increase-most-two-years-april
US industrial production weaker than expected in April
https://www.businesstimes.com.sg/international/us-industrial-production-weaker-expected-april
Major brokerages retain US rate-cut view after soft inflation data
https://www.businesstimes.com.sg/international/major-brokerages-retain-us-rate-cut-view-after-soft-inflation-data
US efforts to reshape global supply chains gathers pace in Asia
https://www.businesstimes.com.sg/international/global/us-efforts-reshape-global-supply-chains-gathers-pace-asia
US single-family housing starts, permits fall in April
https://www.businesstimes.com.sg/property/us-single-family-housing-starts-permits-fall-april
Microsoft asks hundreds of China staff to relocate, WSJ reports
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/microsoft-asks-hundreds-china-staff-relocate-wsj-reports
https://www.straitstimes.com/business/microsoft-asks-hundreds-of-china-based-staff-to-relocate-wsj-reports
No quick fix for Australia’s housing shortage, warns RBA
https://www.businesstimes.com.sg/property/no-quick-fix-australias-housing-shortage-warns-rba
New US tariffs will not lead to a full-blown trade war with China, say observers
https://www.channelnewsasia.com/world/us-china-trade-war-tariffs-restrictions-ev-semiconductors-white-house-joe-biden-wang-yi-4340636
As US hikes China tariffs, imports soar from China-reliant Vietnam
https://www.businesstimes.com.sg/international/us-hikes-china-tariffs-imports-soar-china-reliant-vietnam
China recovery likely picked up with outlook buoyed by stimulus
https://www.businesstimes.com.sg/international/china-recovery-likely-picked-outlook-buoyed-stimulus
China regulators to discuss property aid with banks on May 17
https://www.straitstimes.com/business/china-regulators-to-discuss-property-aid-with-banks-on-may-17
China property stocks gauge jumps on proposal for home purchases
https://www.businesstimes.com.sg/property/china-property-stocks-gauge-jumps-proposal-home-purchases
ECB warns of stability risks from global elections, geopolitics
https://www.businesstimes.com.sg/international/ecb-warns-stability-risks-global-elections-geopolitics
Hong Kong’s shaky crypto ETF debuts dent global hub aspirations
https://www.businesstimes.com.sg/international/hong-kongs-shaky-crypto-etf-debuts-dent-global-hub-aspirations
Hong Kong government to submit construction sector bill to regulate contracts, speed up adjudication in financial disputes
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3262971/hong-kong-government-submit-construction-sector-bill-regulate-contracts-speed-adjudication-financial?module=top_story&pgtype=subsection
Japan’s economy suffers worse-than-expected 0.5% contraction in Q1
https://www.straitstimes.com/business/japan-s-economy-suffers-worse-than-expected-contraction-of-05
Newly privatised Toshiba to cut 4,000 jobs in restructuring drive
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/newly-privatised-toshiba-cut-4000-jobs-restructuring-drive
https://www.channelnewsasia.com/business/recently-delisted-toshiba-cut-4000-jobs-restructuring-drive-4340536
Philippine central bank signals August rate cut after leaving policy unchanged
https://www.businesstimes.com.sg/international/philippine-central-bank-signals-august-rate-cut-after-leaving-policy-unchanged
South Korea’s state-run think tank raises GDP, inflation forecasts
https://www.businesstimes.com.sg/international/south-koreas-state-run-think-tank-raises-gdp-inflation-forecasts
Swiss growth slows as export woes hit struggling industry
https://www.businesstimes.com.sg/international/swiss-growth-slows-export-woes-hit-struggling-industry
Digitalisation of banking creates new risks, says global watchdog
https://www.businesstimes.com.sg/international/global/digitalisation-banking-creates-new-risks-says-global-watchdog
https://www.channelnewsasia.com/business/digitalisation-banking-creates-new-risks-says-global-watchdog-4340876
Thai finance minister says financial access more worrying than interest rates
https://www.businesstimes.com.sg/international/thai-finance-minister-says-financial-access-more-worrying-interest-rates
Climate change could force Bangkok to move, official warns
https://www.businesstimes.com.sg/international/climate-change-could-force-bangkok-move-official-warns
https://www.channelnewsasia.com/asia/bangkok-thailand-climate-change-rising-sea-levels-move-new-capital-4340716
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