DAILY NEWS

Daily News – 18 Oct 2022 (Tue)

SINGAPORE REAL ESTATE

September new home sales hit 987 units, more than double August’s 438 units
The number of new private homes sold in September more than doubled over the tally in August, on the back of two major launches that set new price benchmarks for suburban housing.
https://www.businesstimes.com.sg/real-estate/september-new-home-sales-hit-987-units-more-than-double-augusts-438-units
https://www.straitstimes.com/business/new-private-home-sales-in-september-supercharged-by-lentor-modern-sky-edenbedok-launches
https://www.todayonline.com/singapore/new-private-home-sales-more-double-september-driven-lentor-modern-skyedenbedok-launches-2021906
https://www.channelnewsasia.com/singapore/ura-private-home-sales-september-2022-lentor-modern-sky-eden-3011411

Liberty House at 51 Club Street put up for sale at S$120m
Liberty House at 51 Club Street has been put up for sale via expression of interest at an indicative price of S$120 million. This translates to around S$4,155 per square foot on a total gross floor area of 28,876 square feet, exclusive marketing agent CBRE said in a press statement on Monday (Oct 17).
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/liberty-house-at-51-club-street-put-up-for-sale-at-s120m

Prime Orchard area retail rents on the rise, outpacing other areas despite headwinds
Retail rents recorded the strongest quarter-on-quarter growth in Singapore’s prime shopping belt, gaining 2.9 per cent to average S$38.40 per square foot (psf) a month for Orchard/Scotts Road ground floor space in Q3 this year, data from Edmund Tie on Monday (Oct 17) showed.
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/prime-orchard-area-retail-rents-on-the-rise-outpacing-other-areas

Despite travel recovering, listed hospitality plays are unloved and may be privatised
Singapore’s opening up along with that of many countries has led to a rise in international visitor arrivals, as well as hotel room and occupancy rates. Hotels here are also buoyed by the return of large scale events and relaxation of dining-in restrictions.
https://www.businesstimes.com.sg/opinion/despite-travel-recovering-listed-hospitality-plays-are-unloved-and-may-be-privatised

BTO flats offered at a range of prices to serve different budgets: Desmond Lee
Singapore – Build-To-Order (BTO) flats here are offered with different attributes, price points and grant amounts to cater to a diverse group of flat buyers – not just median-income households but also those in lower-income segments, said Minister for National Development Desmond Lee.
https://www.straitstimes.com/singapore/housing/bto-flats-offered-at-a-range-of-prices-to-serve-different-budgets-desmond-lee

SINGAPORE ECONOMY

Singapore’s inflation expectations at 11-year high amid global economic uncertainty: poll
Singaporeans’ headline inflation expectations for the year ahead hit an 11-year high, up to 4.6 per cent in a September poll from 3.9 per cent in June 2022, according to the latest quarterly results of the Singapore Index of Inflation Expectations (SInDex).
https://www.businesstimes.com.sg/government-economy/singapores-inflation-expectations-at-11-year-high-amid-global-economic
https://www.straitstimes.com/business/singaporeans-inflation-expectations-hit-11-year-high-amid-global-economic-uncertainty-poll

Singapore exports set to slow further in Q4, may even contract: economists
The outlook for Singapore’s key exports turned a shade gloomier on Monday (Oct 17), with fresh data from Enterprise Singapore (EnterpriseSG) revealing further drag from China’s slowdown alongside the global electronics downturn.
https://www.businesstimes.com.sg/government-economy/singapore-exports-set-to-slow-further-in-q4-may-even-contract-economists

COMPANIES’ BRIEF

Bonvests proposes privatisation offer of Colex via scheme of arrangement
Catalist waste management company, Colex has announced a proposed privatisation offer by Bonvests Holdings for the shares not held by Bonvests and its subsidiary Coop International by a scheme of arrangement.
https://www.businesstimes.com.sg/companies-markets/bonvests-proposes-privatisation-offer-of-colex-via-scheme-of-arrangement

Sembcorp obtains investment licence to develop industrial park in Vietnam
Sembcorp Industries has, through its wholly-owned subsidiary Sembcorp Development, obtained an investment licence to develop a new industrial park in Can Tho City, it said in a bourse filing on Monday (Oct 17).
https://www.businesstimes.com.sg/asean-business/sembcorp-obtains-investment-licence-to-develop-industrial-park-in-vietnam
https://www.straitstimes.com/business/sembcorp-obtains-investment-licence-to-develop-industrial-park-in-vietnam