The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



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.


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.


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).


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.


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.



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.


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.


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.



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).


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.


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.


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.



Global Economy & Real Estate


What if interest rates remain high?


More Fed policymakers point to higher rates in inflation fight


US import prices fall in January; annual increase smallest in two years


UK property asking prices show weakest Feb gain on record: Rightmove


UK’s Purplebricks starts strategic review, forecasts bigger core loss


UK retail sales unexpectedly rise but gloom seen persisting


Even super-prime London property can’t defy market forces


Portugal ends ‘golden visas’ to rein in property speculation


Australia’s central bank says more rate pain needed to tame inflation


Australian supermarkets set to capitalise on high inflation, but softer demand ahead


Cautious optimism for China’s steady recovery


Chinese developers struggle to avoid defaults despite state help


Chinese home sales post third weekly rise in a row – survey


China quietly pivots from land sale limits to stem housing slump


China’s mortgage rate cuts spur prepayment rush, threaten bank earnings


China ramps up economic support with record cash injection


Hong Kong finance chief warns of challenges from fiscal deficit


Japan consumer inflation rate seen accelerating to over 41-year high: Reuters poll


Malaysia’s Jan exports rise 1.6% y-o-y, below forecast


Malaysia seen returning to rate pause after a final hike to 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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