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 January 2025 (Sat, Sun & Mon)

Singapore Real Estate / Built Environment

 

Major housing policy moves unlikely so soon after rollout of new BTO classification, enhanced grants

While Prime Minister Lawrence Wong has said he is looking for ways to support families in Budget 2025, this is unlikely to take the form of further major housing policy changes, said observers.

https://www.businesstimes.com.sg/singapore/major-housing-policy-moves-unlikely-so-soon-after-rollout-new-bto-classification-enhanced-grants

 

The Orie by CDL, Frasers, Sekisui sells 86% of units at average of S$2,704 psf at launch

Leasehold residential development The Orie kickstarted 2025’s new launches by selling 668 units – around 86 per cent of the 777 available – over its launch weekend. Units were sold at an average price of S$2,704 per square foot (psf).

https://www.businesstimes.com.sg/property/orie-cdl-frasers-sekisui-sells-86-units-average-s2704-psf-launch

https://www.straitstimes.com/business/property/the-orie-condo-at-toa-payoh-sells-86-at-launch-with-prices-averaging-2704-psf

https://www.zaobao.com.sg/realtime/singapore/story20250119-5757486

 

New community hub in Siglap to get running track, rooftop gym and jamming studio

Singapore – A new, upcoming community club in Siglap will span over 8,000 sq m – more than triple the size of the existing facility it will replace – and contain amenities such as a 300m running track, jamming studio and a rooftop gym.

https://www.straitstimes.com/singapore/new-community-hub-in-siglap-to-get-running-track-rooftop-gym-and-jamming-studio-says-edwin-tong

 

New community hub in Bedok North with therapy cats, shared kitchen to be ready by end-2025

A new community hub in Bedok North will house facilities such as a kitchen for home-based businesses to experiment with recipes and conduct culinary workshops, as well as a therapy centre for people to interact with rescue cats.

https://www.channelnewsasia.com/singapore/new-community-hub-bedok-north-community-facilities-4872106

 

 

Singapore Economy/News

 

More support on the way to help Singaporeans cope with cost of living: SM Lee

Singapore will continue to invest in its people and prepare them for the opportunities and challenges ahead, Senior Minister Lee Hsien Loong said on Saturday (Jan 18), adding that amid worries about the cost of living, the government will help Singaporeans in various ways.

https://www.channelnewsasia.com/singapore/singapore-cost-living-more-help-way-budget-2025-lee-hsien-loong-4872401

https://www.zaobao.com.sg/realtime/singapore/story20250118-5752862

 

Singapore strong enough to withstand ‘collateral impact’ from US-China trade war, tariffs: HSBC

Despite the risk of the “collateral impact” from an ongoing US-China trade war that is expected to escalate, Singapore should be able to withstand moderated growth, said Frederic Neumann, chief Asia economist at HSBC.

https://www.businesstimes.com.sg/international/global/singapore-strong-enough-withstand-collateral-impact-us-china-trade-war-tariffs-hsbc

 

Singapore’s manufacturing outlook ‘slightly better’ in 2025, but mostly for tech-related production: SMF

Singapore’s manufacturing outlook for 2025 is “slightly better” than last year, but growth is likely to be uneven, with advanced manufacturing industries gaining the most, said Singapore Manufacturing Federation’s (SMF) president Lennon Tan.

https://www.businesstimes.com.sg/singapore/singapores-manufacturing-outlook-slightly-better-2025-mostly-tech-related-production-smf

 

 

Business News

 

CDL New Zealand unit proposes to buy Millennium & Copthorne Hotels stake at NZ$2.25 a share

City Developments Ltd’s (CDL) wholly owned subsidiary intends to purchase all the fully paid ordinary shares in hotel company Millennium & Copthorne Hotels New Zealand that it does not already own for NZ$2.25 a share.

https://www.businesstimes.com.sg/international/global/cdl-new-zealand-unit-proposes-buy-millennium-copthorne-hotels-stake-nz2-25-share

 

Former Sabana Reit director Charlie Chan, other unitholders requisition EGM; seek to conduct ‘price discovery’ on assets

The manager of Sabana Industrial Real Estate Investment Trust has received a requisition notice for an extraordinary general meeting (EGM) from unitholders owning over 10 per cent of the trust.

https://www.businesstimes.com.sg/companies-markets/former-sabana-reit-director-charlie-chan-other-unitholders-requisition-egm-seek-conduct-price

 

 

Views, Reviews, Forum and Others

 

CPF Special Account for 1.4 million members closed on Jan 19

The Special Accounts (SA) of some 1.4 million Central Provident Fund (CPF) members aged 55 and above were closed on Sunday (Jan 19), said the CPF Board in a news release.

https://www.businesstimes.com.sg/singapore/cpf-special-account-1-4-million-members-closed-jan-19

https://www.straitstimes.com/business/cpf-board-closes-1-4-million-special-accounts-of-members-on-jan-19

https://www.channelnewsasia.com/singapore/cpf-special-account-closed-55-years-old-and-above-jan-19-notification-email-letter-4876826

https://www.zaobao.com.sg/news/singapore/story20250120-5756901?ref=today-news-section-card-1

 

6 more nabbed for allegedly using ICA e-service to illegally change other people’s addresses

Another six people have been arrested over their alleged links to cases in which the home addresses of people were changed online through the Immigration and Checkpoints Authority’s (ICA) e-service without their knowledge.

https://www.straitstimes.com/singapore/6-more-nabbed-for-allegedly-using-ica-e-service-to-illegally-change-other-peoples-addresses

https://www.channelnewsasia.com/singapore/police-arrest-suspects-ica-change-addresses-unauthorised-attempts-4869916

 

Bus, train services to be extended on Chinese New Year Eve

Those planning to stay out late on Jan 28, the eve of Chinese New Year, will have more transport options, with SBS Transit offering later services on selected MRT lines and bus routes.

https://www.straitstimes.com/singapore/bus-train-services-to-be-extended-on-eve-of-chinese-new-year

 

 

Global Economy & Real Estate

 

Trump’s economic plans could cause inflation: IMF chief economist

https://www.businesstimes.com.sg/international/trumps-economic-plans-could-cause-inflation-imf-chief-economist

 

Why Trump’s plan to escalate tariffs has so many haters

https://www.businesstimes.com.sg/international/why-trumps-plan-escalate-tariffs-has-so-many-haters

 

What to expect on Trump’s Inauguration Day

https://www.businesstimes.com.sg/international/what-expect-trumps-inauguration-day

 

Chicago – ‘Home Alone’ house sells above asking price at US$5.5 million

https://www.businesstimes.com.sg/property/home-alone-house-sells-above-asking-price-us5-5-million

 

Chinese economic growth among slowest in decades

https://www.businesstimes.com.sg/international/global/chinese-economic-growth-among-slowest-decades

 

China home prices fall at slower pace as stimulus takes hold

https://www.businesstimes.com.sg/property/china-home-prices-fall-slower-pace-stimulus-takes-hold

https://www.straitstimes.com/business/chinas-new-home-prices-flat-for-the-first-time-in-18-months-after-stimulus-push

 

Kuwaiti developers seek to tap property boom in Dubai’s neighbour

https://www.businesstimes.com.sg/property/kuwaiti-developers-seek-tap-property-boom-dubais-neighbor

 

‘Hong Kong to welcome 1.45 million mainland tourists over Lunar New Year’

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3295303/hong-kong-welcome-145-million-mainland-tourists-over-lunar-new-year

 

Company registrations in Hong Kong hit record high in 2024

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3295152/hong-kong-saw-record-company-registrations-2024-authorities

 

60% of Hongkongers in subdivided flats say proposed minimum too small: poll

https://www.scmp.com/news/hong-kong/society/article/3295385/60-hongkongers-subdivided-flats-say-proposed-minimum-too-small-poll

 

Hong Kong to expedite approvals to keep construction sector from contracting

https://www.scmp.com/news/hong-kong/society/article/3295262/hong-kong-expedite-approvals-keep-construction-sector-contracting

 

More foreign property investors are likely to sell their Greater Bay Area assets in 2025

https://www.scmp.com/business/article/3295259/more-foreign-property-investors-are-likely-sell-their-greater-bay-area-assets-2025

 

First-time homebuyers snap up Tuen Mun flats amid easing uncertainty around Trump policy

https://www.scmp.com/business/article/3295317/first-time-homebuyers-snap-tuen-mun-flats-amid-easing-uncertainty-around-trump-policy

 

Chinese tycoon’s luxury mansion in Hong Kong sees 60% price cut

https://www.businesstimes.com.sg/international/global/chinese-tycoons-luxury-mansion-hong-kong-sees-60-price-cut

 

Israeli cabinet approves Gaza ceasefire accord, due to take effect Jan 19

https://www.businesstimes.com.sg/international/israeli-cabinet-approves-gaza-ceasefire-accord-due-take-effect-jan-19

https://www.straitstimes.com/singapore/singapore-welcomes-gaza-ceasefire-deal-hopes-it-will-be-fully-implemented-pm-wong

https://www.channelnewsasia.com/world/israel-approves-gaza-ceasefire-deal-hostages-4872046

 

Japan projects primary budget surplus in fiscal 2026, delayed by a year

https://www.businesstimes.com.sg/international/japan-projects-primary-budget-surplus-fiscal-2026-delayed-year

https://www.channelnewsasia.com/business/japan-projects-primary-budget-surplus-fiscal-2026-delayed-year-4869021

 

IMF expects more Bank of Japan interest rate hikes in 2025 and 2026

https://www.channelnewsasia.com/business/imf-expects-more-bank-japan-interest-rate-hikes-2025-and-2026-4870656

 

Malaysia’s economic growth may slow to 4.8% in Q4, below forecast

https://www.businesstimes.com.sg/international/malaysias-economic-growth-may-slow-4-8-q4-below-forecast

https://www.straitstimes.com/business/economy/malaysian-economy-slows-in-last-quarter-of-2024-showing-risks-ahead

 

UK home asking prices show biggest early-year rise since 2020: Rightmove

https://www.businesstimes.com.sg/property/uk-home-asking-prices-show-biggest-early-year-rise-2020-rightmove

 

UK market turbulence pushes mortgage costs to 5-month high

https://www.businesstimes.com.sg/property/uk-market-turbulence-pushes-mortgage-costs-five-month-high

 

Disclaimer & Note:

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.

The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.

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