Singapore Real Estate / Built Environment
Developers’ new home sales shrink to lowest for the month of August in 17 years
New private home sales slumped in August, as developers sold 208 new units during the seasonally quiet Ghost Month period, but sales are also down 47 per cent from the year-ago period.
https://www.businesstimes.com.sg/property/developers-new-home-sales-shrink-lowest-month-august-17-years
https://www.straitstimes.com/singapore/housing/new-private-home-sales-sink-to-16-year-low-for-aug-but-interest-rate-cuts-could-lure-buyers
Win-win investment property deals exist, but lower interest rates raise risk of bad deals
Sometimes, win-win deals do not exist. In trading a pair of currencies, one party benefits from a particular currency strengthening while the counterparty suffers a loss.
https://www.businesstimes.com.sg/opinion-features/win-win-investment-property-deals-exist-lower-interest-rates-raise-risk-bad-deals
Sultan Plaza offers rare commercial investment opportunity for sale via Expression of Interest at $39 mil
Commercial strata retail space at Sultan Plaza on 100 Jalan Sultan off Beach Road has been launched for sale via Expression of Interest with a guide price of $39 million. At a strata area of 30,946 sq ft, this translates into $1,260 psf on total strata area.
https://www.edgeprop.sg/property-news/sultan-plaza-offers-rare-commercial-investment-opportunity-sale-expression-interest-39-mil
Singapore Economy
MAS ready to make bold changes to revitalise equities market: Chee Hong Tat
To revive Singapore’s equities market, the Monetary Authority of Singapore (MAS) is ready to make bold yet necessary changes after carefully reviewing their trade-offs, said Transport Minister and Second Finance Minister Chee Hong Tat on Monday (Sep 16).
https://www.businesstimes.com.sg/companies-markets/mas-ready-make-bold-changes-revitalise-equities-market-chee-hong-tat
https://www.straitstimes.com/business/companies-markets/quality-listings-more-investor-participation-and-re-looking-regulations-to-boost-s-pore-equity-market
https://www.scmp.com/news/asia/southeast-asia/article/3278724/singapore-sets-course-bold-changes-reinvigorate-flagging-stock-market
Singapore key exports jump 10.7% in Aug, extending previous month’s surge
Singapore’s key exports in August extended the previous month’s rally on the back of a surge in electronics shipments, even as both electronics and non-electronics exports rose.
https://www.businesstimes.com.sg/singapore/singapore-key-exports-jump-10-7-aug-extending-previous-months-surge
https://www.straitstimes.com/business/singapore-key-exports-up-107-in-august-extending-gains-for-second-month
Number of single family offices awarded tax perks hit 1,650 as at end-August
The Monetary Authority of Singapore had, as at the end of August, awarded tax incentives to some 1,650 single family offices (SFOs). The number was up from the 1,400 SFOs given such tax perks as at the end of 2023. In 2020, the number was 400.
https://www.businesstimes.com.sg/companies-markets/number-single-family-offices-awarded-tax-perks-hit-1650-end-august
https://www.straitstimes.com/business/singapore-s-wealth-management-sector-growing-as-single-family-offices-balloon-to-1650
Business News
CapitaLand Investment in talks to buy Club Med stake from Fosun
Singapore’s CapitaLand Investment is in advanced talks to buy a minority stake in French luxury resort chain Club Med SAS from its Chinese owner Fosun International, according to sources with knowledge of the matter.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-talks-buy-club-med-stake-fosun
Lum Chang Holdings subsidiary awarded retrofitting works contract for community hospital in Bedok
Lum Chang Holdings’ subsidiary, Lum Chang Interior (LC Interior), has secured a contract for the provision of retrofitting works to operationalise a community hospital in Bedok.
https://www.theedgesingapore.com/news/contracts/lum-chang-holdings-subsidiary-awarded-retrofitting-works-contract-community-hospital
Sabana Reit’s EGM to vote on proposed internal manager directors to be postponed: trustee
The trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) has asked to postpone the trust’s extraordinary general meeting (EGM) to vote on the proposed internal manager directors.
https://www.businesstimes.com.sg/companies-markets/sabana-reits-egm-vote-proposed-internal-manager-directors-be-postponed-trustee
Global Economy & Real Estate
Democratic senators call on Fed to cut rates by 75 basis points
https://www.businesstimes.com.sg/international/democratic-senators-call-fed-cut-rates-75-basis-points
The View | Why it’s good news Asia’s property markets are more transparent
https://www.scmp.com/opinion/asia-opinion/article/3278653/why-its-good-news-asias-property-markets-are-more-transparent
Australian boomers retiring with less than half the money needed, requiring government help
https://www.straitstimes.com/business/australian-boomers-retiring-with-less-than-half-the-money-needed
A hotel ban in Bali? Not a second too soon
https://www.businesstimes.com.sg/opinion-features/hotel-ban-bali-not-second-too-soon
https://www.channelnewsasia.com/commentary/bali-tourists-crowded-traffic-hotels-villa-tax-sumba-labuan-bajo-4611131
Apple buildings in Silicon Valley put up for sale by landlord
https://www.businesstimes.com.sg/property/apple-buildings-silicon-valley-put-sale-landlord
Canada home sales pick up with buyers boosted by lower rates
https://www.businesstimes.com.sg/property/canada-home-sales-pick-buyers-boosted-lower-rates
With Fed rate cut opening the door, China likely to ease as economic issues grow: analysts
https://www.scmp.com/economy/global-economy/article/3278731/fed-rate-cut-opening-door-china-likely-ease-economic-issues-grow-analysts
China’s homeowners are rushing to pay off mortgages early as outlook on the economy dims
https://www.scmp.com/business/china-business/article/3278576/chinas-homeowners-are-rushing-pay-mortgages-early-outlook-economy-dims
Henderson’s rooftop venue to host Hong Kong gala dinners, mega events in boost to builder
https://www.scmp.com/business/article/3278743/hendersons-rooftop-venue-host-hong-kong-gala-dinners-mega-events-boost-builder
CK Asset leads Hong Kong builders in touting new flat sale ahead of expected rate cut
https://www.scmp.com/business/article/3278757/ck-asset-leads-hong-kong-builders-touting-new-flat-sale-ahead-expected-rate-cut
Japan’s elderly population hits record high
https://www.businesstimes.com.sg/international/japans-elderly-population-hits-record-high1
Hotel properties in Japan, China, draw investors as travel fervour improves returns
https://www.scmp.com/business/article/3278487/hotel-properties-japan-china-draw-investors-travel-fervour-improves-returns
Malaysia’s troubled China-backed Forest City, to become special financial zone
https://www.scmp.com/news/asia/southeast-asia/article/3278719/forest-city-malaysias-china-backed-project-launch-special-financial-zone-friday
NZ’s Auckland International Airport to raise US$861.8 million, signs contract to build new terminal
https://www.businesstimes.com.sg/property/nzs-auckland-international-airport-raise-us861-8-million-signs-contract-build-new-terminal
Thai baht is too strong and impacting exports, minister says
https://www.businesstimes.com.sg/international/asean/thai-baht-too-strong-and-impacting-exports-minister-says
Thailand expects less than 40 million to join handout scheme
https://www.businesstimes.com.sg/international/asean/thailand-expects-less-40-million-join-handout-scheme
https://www.channelnewsasia.com/east-asia/thailand-expects-less-40-million-people-join-handout-scheme-official-says-4610991
UK should outlaw imports of goods made by Xinjiang forced labour, says senior lawmaker
https://www.businesstimes.com.sg/international/uk-should-outlaw-imports-goods-made-xinjiang-forced-labour-says-senior-lawmaker
With the UK mulling new wealth taxes, non-domiciled residents might leave in droves
https://www.businesstimes.com.sg/international/uk-mulling-new-wealth-taxes-non-domiciled-residents-might-leave-droves
London’s high-end property market cools on worries about tax hit
https://www.businesstimes.com.sg/property/londons-high-end-property-market-cools-worries-about-tax-hit
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