Singapore Real Estate / Built Environment
New home sales surge in February, with record number of suburban units sold for S$2 million or more
Developers in Singapore sold 1,575 private homes in February, about 10 times the 153 units moved a year earlier and 45.4 per cent more than the total sold in January, data released by the Urban Redevelopment Authority (URA) showed on Monday (Mar 17).
https://www.zaobao.com.sg/finance/singapore/story20250317-6030373
Local construction companies adopt ESG registry to bolster competitiveness, secure project tenders
Seven local construction companies have adopted ESGpedia – a Singapore-based environmental, social and governance (ESG) registry – to strengthen their competitiveness and secure more project tenders.
Why did OCBC put Chulia Street redevelopment plans on the back burner?
Nearly a year ago, when news broke that OCBC was exploring the redevelopment of its Chulia Street property, there was much buzz in property circles as to how this would rejuvenate the locale, which is in Singapore’s central business district, near the banks of the Singapore River.
Singapore News
Rehabilitation and reintegration vital in dealing with extremist threat, says SM Teo
The Republic’s approach to the threat of violent, extremist ideologies is a “whole-of-society” one with rehabilitation and reintegration programmes at its centre, said Senior Minister and Coordinating Minister for National Security Teo Chee Hean on March 17.
BCA board appoints deputy chairman Tan Thiam Soon as chairman
The Building and Construction Authority (BCA) board will appoint current deputy chairman Professor Tan Thiam Soon as its new chairman from Apr 1. He will succeed Lim Sim Seng, who will be stepping down from the board.
https://www.channelnewsasia.com/singapore/bca-board-new-chairman-tan-thiam-soon-sit-5004836
https://www.zaobao.com.sg/news/singapore/story20250317-6029545
Business News
CapitaLand Integrated Commercial Trust appoints deputy CEO Tan Choon Siang as CEO from May 1
The manager of CapitaLand Integrated Commercial Trust (CICT) on Monday (Mar 17) announced the appointment of current deputy chief executive officer Tan Choon Siang as CEO and executive non-independent director from May 1. Tan Choon Siang, 48, will also be appointed as a member of the executive committee (EC).
https://www.zaobao.com.sg/realtime/singapore/story20250317-6030529
Creative Technology cuts workforce, joining wave of tech layoffs
Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14 per cent of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.
Global Economy & Real Estate
Fed likely to keep rates steady with markets ‘confused’
Trump trade war to sap Canadian, Mexican and US growth, OECD says
Trump says both reciprocal and sectoral tariffs coming Apr 2
US retail sales rebound moderately in February
https://www.businesstimes.com.sg/international/us-retail-sales-rebound-moderately-february
US homebuilder sentiment drops to seven-month low in March
https://www.businesstimes.com.sg/property/us-homebuilder-sentiment-drops-seven-month-low-march
Australia’s central bank still more cautious than market on prospect of more rate cuts
Carney says Canada ‘too reliant on US’ on UK, France trip
https://www.businesstimes.com.sg/international/carney-says-canada-too-reliant-us-uk-france-trip
https://www.channelnewsasia.com/world/carney-says-canada-too-reliant-us-uk-france-trip-5006576
China economic pickup tops forecasts before tariff pain deepens
China’s January to February retail sales pick up as economy navigates tariff
China’s property slump persists as stimulus struggles to stabilise sector
Property developer Sunac China warns of wider loss for 2024
https://www.businesstimes.com.sg/property/property-developer-sunac-china-warns-wider-loss-2024
ECB to cut rates by less as Europe ramps up spending: poll
Sense of urgency is required in rectifying illegal structures in Hong Kong
Lee Shau Kee, founder of Henderson Land Group, dies at 97
https://www.businesstimes.com.sg/property/lee-shau-kee-founder-henderson-land-group-dies-97
https://www.straitstimes.com/business/hong-kong-property-magnate-lee-shau-kee-dies-at-97
https://www.channelnewsasia.com/east-asia/lee-shau-kee-dies-97-henderson-land-group-founder-5005651
https://www.scmp.com/business/article/3302726/lee-shau-kee-founder-henderson-land-dies-age-97
Indonesia’s February trade surplus surpasses expectations, but risks loom
Bank of Japan to hold rate steady as concern over global outlook mounts
From Johor to Borneo: Malaysia plotting Brunei-Sarawak SEZ to tap new growth frontier
Portugal home prices to keep rising as demand outpaces supply
https://www.businesstimes.com.sg/property/portugal-home-prices-keep-rising-demand-outpaces-supply
Thailand eyes EU free trade deal by year end amid US tariff risk
Thailand approves 200 billion baht of projects to expand Bangkok metro system, data-centre network
Thai PM threatens legal action over latest construction deaths
Exclusive-Vietnam developer proposes 15-year rescue for bank at heart of giant fraud, documents show
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.