Singapore Real Estate/Built Environment
Elias Green owners in fresh push for collective sale at S$928 million guide price
Owners at the 419-unit Elias Green condominium in Pasir Ris are making a fresh attempt at an en bloc sale, eyeing an asking price of S$928 million. As at late June, 80 per cent of unit owners have given consent for the collective sale to proceed, Alan Loh, chairman of the collective sale committee, told The Business Times.
https://www.businesstimes.com.sg/property/elias-green-owners-fresh-push-collective-sale-s928-million-guide-price
OCBC to recover over S$20 million from sale of Su Baolin’s Sentosa property
A vacant plot of land in Sentosa Cove, acquired by one of the 10 foreigners arrested in Singapore’s biggest money laundering case, has finally been sold via private treaty for over S$20 million. This follows two rounds of auction that failed to secure a buyer.
https://www.businesstimes.com.sg/property/ocbc-recover-over-s20-million-sale-su-baolins-sentosa-property
https://www.straitstimes.com/singapore/housing/ocbc-to-recover-more-than-20-million-from-selling-sentosa-cove-plot-linked-to-money-laundering-probe
Business News
Hyatt in advanced talks to buy Standard hotels brand
Hyatt Hotels is nearing a deal to buy boutique hotel operator Standard International, continuing a run of acquisitions that has helped Hyatt add luxury properties in leisure destinations.
https://www.businesstimes.com.sg/property/hyatt-advanced-talks-buy-standard-hotels-brand
IBM and JLL launch ESG reporting and data management software
New York-listed computing giant IBM and global commercial real estate and investment management firm JLL have partnered to provide data management and reporting software for commercial real estate companies.
https://www.edgeprop.sg/property-news/ibm-and-jll-launch-esg-reporting-and-data-management-software
Rajah & Tann, Allen & Gledhill expand in China as international peers retreat
Singapore’s two largest law firms are expanding in China, banking on a trend of Chinese companies venturing overseas even as some of their global peers pull back from the world’s second-largest economy.
https://www.businesstimes.com.sg/international/global/rajah-tann-allen-gledhill-expand-china-international-peers-retreat
Shell on selling its first-born in Singapore and its energy transition and growth plans
When news broke of Shell’s sale of its assets on Pulau Bukom including a refinery and ethylene cracker in May, some market watchers read the move as a retreat from Singapore.
https://www.businesstimes.com.sg/companies-markets/shell-selling-its-first-born-singapore-and-its-energy-transition-and-growth-plans
Global Economy & Real Estate
Fed’s Beige Book shows slight economic growth, cooling inflation
https://www.businesstimes.com.sg/international/feds-beige-book-shows-slight-economic-growth-cooling-inflation
US unveils Americas-wide plan to boost semiconductor production
https://www.businesstimes.com.sg/international/us-unveils-americas-wide-plan-boost-semiconductor-production
US manufacturing output beats expectations with 0.4% rise in June
https://www.businesstimes.com.sg/international/us-manufacturing-output-beats-expectations-0-4-rise-june
US single-family housing starts slump to eight-month low
https://www.businesstimes.com.sg/property/us-single-family-housing-starts-slump-eight-month-low
US mortgage rates fall to 6.87%, lowest level since early March
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-6-87-lowest-level-early-march
Apple backs US$50 million fund to support Bay Area affordable housing
https://www.businesstimes.com.sg/property/apple-backs-us50-million-fund-support-bay-area-affordable-housing
https://www.channelnewsasia.com/business/apple-backs-50-million-fund-support-bay-area-affordable-housing-4486021
Supply in Canada’s property market surges as mortgage renewals loom
https://www.businesstimes.com.sg/property/supply-canadas-property-market-surges-mortgage-renewals-loom
Xi Jinping to map out vision for China’s economy as key meeting wraps up
https://www.businesstimes.com.sg/international/xi-jinping-map-out-vision-chinas-economy-key-meeting-wraps
China’s visa-free entry boosts tourism but some hurdles remain
https://www.straitstimes.com/business/economy/china-strives-to-lure-foreign-tourists-but-its-a-hard-sell-for-some
China’s youth-jobless rate improves as challenges still threaten stabilityhttps://www.scmp.com/economy/economic-indicators/article/3270772/chinas-youth-jobless-rate-improves-challenges-still-threaten-stability-nbs?module=top_story&pgtype=subsection
Singapore law firms expand to China as global peers retreat from the mainland
https://www.scmp.com/news/asia/southeast-asia/article/3270795/singapore-law-firms-expand-china-global-peers-retreat-mainland
German coalition passes 2025 budget after months of wrangling
https://www.businesstimes.com.sg/international/german-coalition-passes-2025-budget-after-months-wrangling
More Singapore firms want to expand into Europe, using Germany as a springboard
https://www.straitstimes.com/business/companies-markets/more-singapore-firms-want-to-expand-into-europe-using-germany-as-a-springboard
Hong Kong’s West Kowloon arts hub gets green light to sell land parcels to boost income
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3270782/hong-kongs-west-kowloon-arts-hub-gets-greenlight-sell-land-parcels-boost-income?module=top_story&pgtype=subsection
SHKP wins hotly contested plot of land in Sha Tin for price at mid-point of estimates
https://www.scmp.com/business/article/3270840/shkp-wins-hotly-contested-plot-land-sha-tin-price-mid-point-estimates
Hong Kong posts record home purchases by mainland Chinese, realtor says
https://www.businesstimes.com.sg/property/hong-kong-posts-record-home-purchases-mainland-chinese-realtor-says
https://www.channelnewsasia.com/business/hong-kong-posts-record-home-purchases-mainland-chinese-realtor-says-4485156
https://www.scmp.com/business/article/3270692/mainland-chinese-spend-record-us9-billion-homes-hong-kong-first-half?module=top_story&pgtype=subsection
Crackdown on illegal structures at Hong Kong luxury homes continues, Legco told
https://www.scmp.com/news/hong-kong/health-environment/article/3270842/crackdown-illegal-structures-hong-kong-luxury-homes-continues-legco-told
BOJ likely to skip rate hike in July, former official says
https://www.straitstimes.com/business/economy/boj-likely-to-skip-rate-hike-in-july-former-official-says
Japan exports rise 5.4% year/year in June
https://www.channelnewsasia.com/business/japan-exports-rise-54-year-year-june-4487221
https://www.straitstimes.com/business/economy/japan-s-exports-rise-for-seventh-month-supporting-growth
https://www.businesstimes.com.sg/international/japan-export-growth-cools-amid-worries-about-china-slowdown
More than 40% of Japanese companies have no plan to make use of AI: Reuters poll
https://www.channelnewsasia.com/business/more-40-japanese-companies-have-no-plan-make-use-ai-reuters-poll-4487136
London rental inflation eases in relief for squeezed tenants
https://www.businesstimes.com.sg/property/london-rental-inflation-eases-relief-squeezed-tenants
Thailand’s extra 122 billion baht budget for stimulus clears first parliamentary vote
https://www.businesstimes.com.sg/international/asean/thailands-extra-122-billion-baht-budget-stimulus-clears-first-parliamentary-vote
Thai industrial sentiment hits 2-yr low in June, business federation says
https://www.channelnewsasia.com/business/thai-industrial-sentiment-hits-2-yr-low-june-business-federation-says-4484886
UK inflation pressures stay hot, reducing chance of August rate cut
https://www.businesstimes.com.sg/international/uk-inflation-pressures-stay-hot-reducing-chance-august-rate-cut
https://www.straitstimes.com/business/economy/uk-inflation-pressures-stay-hot-reducing-chance-of-august-rate-cut
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