The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News – 18, 19 & 20 Feb 2023 (Sat, Sun & Mon)

Singapore Real Estate

 

Upcoming Bayshore precinct to have a central park, green network linking its housing projects
Singapore – The upcoming 60ha Bayshore housing precinct in Upper East Coast Road will have a new central park, which will be part of a network of green spaces throughout the estate. These green spaces will serve as recreational areas for residents and provide “conducive habitats for flora and fauna to thrive”, said the Housing Board on Friday in a report responding to public feedback on an environmental study for the area published in November 2022.
https://www.straitstimes.com/singapore/housing/upcoming-bayshore-precinct-to-have-a-central-park-green-network-linking-its-housing-projects

 

The Cathay mall to close for revamp from August 2023
Come August, The Cathay mall will no longer be open to the public as it closes for a revamp, said its spokesperson on Friday (Feb 17). Works are set to begin in August and are expected to span about one and a half years. The mall targets to reopen in late 2024, ahead of Christmas, said the spokesperson, adding that all tenants of the mall have been informed and will move out by Aug 18.
https://www.businesstimes.com.sg/property/cathay-mall-close-revamp-august-2023
https://www.straitstimes.com/singapore/the-cathay-to-close-in-august-for-revamp-works-lasting-a-year-and-a-half

 

Where to buy and when to buy? BT seminar looks into opportunities in a volatile property market
Those on the hunt for residential property that gives “better bang for the buck”, particularly at today’s price levels in the Singapore market, should cast their eyes to the prime Core Central Region (CCR).
https://www.businesstimes.com.sg/property/where-buy-and-when-buy-bt-seminar-looks-opportunities-volatile-property-market

 

Resale HDB flat sellers unlikely to raise prices for first-time buyers despite higher grants, property agents say
Singapore — Although first-time resale flat buyers will receive increased housing grants, some property agents said they have not seen sellers raising their flat prices to capitalise on the larger budget.
https://www.todayonline.com/singapore/resale-hdb-flat-first-time-buyer-higher-housing-grant-2111821

 

Explainer | Will Singapore’s housing tweaks help families get their first homes more quickly?
Public housing affordability in Singapore has become a conversation-starter in recent months, as ballooning prices, sky-high rents and a vigorous back-and-forth between the government and its critics on the path ahead for Housing Development Board (HDB) flats – home to over 80 per cent of the population – thrusts the topic to the centre of national consciousness.
https://www.scmp.com/week-asia/economics/article/3210639/will-singapores-housing-tweaks-help-families-get-their-first-homes-more-quickly

 

 

Companies’ Brief

 

Ho Bee Land’s twin-engine growth strategy propels high ROEs
Ho Bee Land stands out among Singapore-listed property groups for its relatively high return on equity (ROE) numbers. In nine out of the past 10 years, the group’s ROE – which measures the rate of return on the capital provided by shareholders – has been at least 7.5 per cent.
https://www.businesstimes.com.sg/companies-markets/reits-property/ho-bee-lands-twin-engine-growth-strategy-propels-high-roes

 

Keppel announces distribution of 19,130 Sembmarine shares for every 1,000 Keppel shares held
Singapore – Keppel Corp shareholders will receive 19.13 new SembCorp Marine (Sembmarine) shares for every Keppel share they own. In short, for every 1,000 Keppel shares held, the shareholder will receive 19,130 Sembmarine shares.
https://www.straitstimes.com/business/keppel-announces-distribution-of-19000-sembmarine-shares-for-every-keppel-share-held

 

Hafary H2 profit increases 187.1% to S$19.8 million
Tile specialist Hafary Holdings posted a profit net of tax of S$19.8 million for the second half of the financial year ended Dec 31, 2022, up 187.1 per year on year from S$6.9 million. Revenue climbed up by 44.6 per cent to S$97.6 million, from S$67.5 million a year earlier.
https://www.businesstimes.com.sg/companies-markets/hafary-h2-profit-increases-1871-s198-million

 

 

Views Reviews, Forum and Others

 

Public Service Division announces new permanent secretary appointment, changes to two others from Apr 3
Singapore: The Public Service Division (PSD) on Friday (Feb 17) announced a new permanent secretary appointment as well as changes to permanent secretary appointments at the Ministry of Law (MinLaw) and Ministry of Foreign Affairs (MFA).
https://www.channelnewsasia.com/singapore/psd-new-permanent-secretary-law-luke-goh-mfa-loh-khum-yean-stanley-loh-3286041
https://www.straitstimes.com/singapore/nea-ceo-luke-goh-to-be-permanent-secretary-for-law

 

CPF salary ceiling should keep pace with inflation to avoid problems for Singapore in the future: Lawrence Wong
Singapore: The Central Provident Fund (CPF) salary ceiling should keep pace with inflation to avoid “storing up more problems” for Singapore, said Deputy Prime Minister Lawrence Wong. Responding to a question on the Ask The Finance Minister programme on CNA on Friday night (Feb 17), Mr Wong said he understood why the raised CPF salary ceiling is a concern for employers and individuals.
https://www.channelnewsasia.com/singapore/cpf-salary-ceiling-should-keep-pace-inflation-avoid-problems-singapore-future-lawrence-wong-3286131

 

Why the new CPF income ceiling will benefit more workers
There were a lot of instant giveaways in Budget 2023, but a measure concerning Central Provident Fund (CPF) contributions that will have far-reaching benefits may not be obvious to many workers. The changes are well-timed as CPF is likely in the minds of many people now, since February is usually when we might notice a bump in our CPF accounts from an extra dollop of contributions.
https://www.straitstimes.com/business/invest/why-the-new-cpf-income-ceiling-will-benefit-more-workers

 

Death of harbour pilot off S’pore’s Southern Islands is 5th workplace fatality in 2023
Singapore – The harbour pilot from PSA Marine who died after he fell overboard in the waters off the Southern Islands on Saturday is the fifth workplace fatality in 2023.
https://www.straitstimes.com/singapore/death-of-harbour-pilot-off-s-pore-s-southern-islands-is-5th-workplace-fatality-in-2023

 

 

Global Economy & Real Estate

 

What if interest rates remain high?

https://www.straitstimes.com/business/invest/what-if-interest-rates-remain-high

 

More Fed policymakers point to higher rates in inflation fight
https://www.straitstimes.com/business/economy/more-fed-policymakers-point-to-higher-rates-in-inflation-fight

 

US import prices fall in January; annual increase smallest in two years
https://www.businesstimes.com.sg/international/us-import-prices-fall-january-annual-increase-smallest-two-years

 

UK property asking prices show weakest Feb gain on record: Rightmove
https://www.businesstimes.com.sg/property/uk-property-asking-prices-show-weakest-feb-gain-record-rightmove

 

UK’s Purplebricks starts strategic review, forecasts bigger core loss
https://www.businesstimes.com.sg/property/uks-purplebricks-starts-strategic-review-forecasts-bigger-core-loss

 

UK retail sales unexpectedly rise but gloom seen persisting
https://www.businesstimes.com.sg/international/uk-retail-sales-unexpectedly-rise-gloom-seen-persisting

 

Even super-prime London property can’t defy market forces
https://www.businesstimes.com.sg/property/even-super-prime-london-property-cant-defy-market-forces

 

Portugal ends ‘golden visas’ to rein in property speculation
https://www.businesstimes.com.sg/property/portugal-ends-golden-visas-rein-property-speculation

 

Australia’s central bank says more rate pain needed to tame inflation
https://www.businesstimes.com.sg/international/australias-central-bank-says-more-rate-pain-needed-tame-inflation

 

Australian supermarkets set to capitalise on high inflation, but softer demand ahead
https://www.businesstimes.com.sg/international/australian-supermarkets-set-capitalise-high-inflation-softer-demand-ahead

 

Cautious optimism for China’s steady recovery
https://www.businesstimes.com.sg/international/global/cautious-optimism-chinas-steady-recovery

 

Chinese developers struggle to avoid defaults despite state help
https://www.businesstimes.com.sg/property/chinese-developers-struggle-avoid-defaults-despite-state-help

 

Chinese home sales post third weekly rise in a row – survey
https://www.channelnewsasia.com/business/chinese-home-sales-post-third-weekly-rise-row-survey-3290726

 

China quietly pivots from land sale limits to stem housing slump
https://www.straitstimes.com/business/china-quietly-pivots-from-land-sale-limits-to-stem-housing-slump
https://www.businesstimes.com.sg/property/china-quietly-pivots-land-sale-limits-stem-housing-slump

 

China’s mortgage rate cuts spur prepayment rush, threaten bank earnings
https://www.businesstimes.com.sg/property/chinas-mortgage-rate-cuts-spur-prepayment-rush-threaten-bank-earnings
https://www.channelnewsasia.com/business/analysischinas-mortgage-rate-cuts-spur-prepayment-rush-threaten-bank-earnings-3286161

 

China ramps up economic support with record cash injection
https://www.businesstimes.com.sg/international/global/china-ramps-economic-support-record-cash-injection

 

Hong Kong finance chief warns of challenges from fiscal deficit
https://www.businesstimes.com.sg/international/hong-kong-finance-chief-warns-challenges-fiscal-deficit

 

Japan consumer inflation rate seen accelerating to over 41-year high: Reuters poll
https://www.businesstimes.com.sg/international/japan-consumer-inflation-rate-seen-accelerating-over-41-year-high-reuters-poll

 

Malaysia’s Jan exports rise 1.6% y-o-y, below forecast
https://www.businesstimes.com.sg/international/asean/malaysias-jan-exports-rise-16-y-o-y-below-forecast
https://www.channelnewsasia.com/business/malaysias-jan-exports-rise-16-y-y-below-forecast-3290691

 

Malaysia seen returning to rate pause after a final hike to 3%
https://www.businesstimes.com.sg/international/asean/malaysia-seen-returning-rate-pause-after-final-hike-3

 

 

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Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.

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