The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 19 Apr 2023 (Wed)

Singapore Real Estate


Katong Shopping Centre up for en bloc sale again at S$638 million
Freehold Katong Shopping Centre, Singapore’s first air-conditioned mall when it opened in 1973, is being offered for collective sale at S$638 million. The East Coast landmark in District 15 occupies a corner land plot of 86,924 square feet (sq ft), with dual road frontage along both Mountbatten Road and Haig Road.


Two adjoining shophouses at Kampong Bahru Road for sale at $18.8 mil
Singapore (EdgeProp) – A pair of freehold conservation shophouses are on sale through an expression of interest (EOI) at a guide price of $18.8 million. The adjoining shophouses with attic are located at 69 and 71 Kampong Bahru Road.


63% of delayed BTO projects delivered by March: Desmond Lee
Singapore – The Housing Board (HDB) has delivered about 63 per cent of the Covid-19 pandemic-delayed Build-To-Order (BTO) projects as at March, said National Development Minister Desmond Lee in a Facebook post on Tuesday.



Singapore Economy


Singapore to boost mid-career support, make training ‘more accessible’
Training will be made “more accessible” for working adults with competing commitments, while mid-career workers will get more targeted support such as SkillsFuture Credit top-ups, Education Minister Chan Chun Sing said on Tuesday (Apr 18).


Singapore to further help private capital, family offices ‘maximise philanthropic impact’
Singapore will do more to help private capital and family offices “maximise their philanthropic impact”, having already extended the tax deduction rate of 250 per cent for donations until end-2026, said Minister for Social and Family Development Masagos Zulkifli in Parliament on Tuesday (Apr 18).



Companies’ Brief


City Energy explores importing hydrogen from Malaysia to Singapore
Keppel Infrastructure Trust’s wholly-owned subsidiary City Energy is working with a Petronas unit to study the feasibility of importing hydrogen from Malaysia to Singapore, it announced on Tuesday (Apr 18).


JLL appoints sustainability consulting head for Asia Pacific
Singapore (EdgeProp) – JLL has appointed Elke Kornalijnslijper as head of sustainability consulting, Asia Pacific. She moves from her previous role as JLL’s head of energy and sustainability services for Southeast Asia. Based in Singapore, she will be responsible for delivering sustainability advice and solutions for JLL’s client base in Asia Pacific and managing a team of 100 real estate sustainability experts across 11 markets regionally.


Minority shareholders should hold out against Lian Beng’s lowball offer
Construction and engineering company Lian Beng Group is trying its luck with a lowball privatisation offer for the company. Minority shareholders should stand their ground, as they may hold a trump card.


Sabana Reit’s Q1 leverage ratio inches up to 33.1%
Sabana Industrial Real Estate Investment Trust’s aggregate leverage ratio rose to 33.1 per cent in the first quarter of 2023, up from 32.4 per cent in the previous quarter, its manager said on Wednesday (Apr 19).


Tech, banks in focus for Q1 reporting season, with economic weakness likely to weigh on earnings
Technology companies could report weaker sales for the first quarter of the year, said analysts ahead of the financial reporting season that begins this week. The banks, too, will be closely watched for signs of a peaking in net interest margins (NIMs), as the pace of interest rate hikes by central banks looks set to slow.



Views, Reviews, Forum and Others


New York tops world’s richest cities, Singapore is fifth
New York again topped the list of the world’s wealthiest cities, boasting some 340,000 millionaires last year, according to investment migration firm Henley & Partners. The number of Singapore millionaires between 2012 and 2022, grew 40 per cent to 240,100.


11 companies fined a total of $27,000 for not adhering to safe work procedures
Singapore – The Ministry of Manpower (MOM) has fined 11 companies a total of $27,000 for inadequate safe work procedures for managing and storing flammable substances, and not providing workers with suitable personal protective equipment.


Singapore retailers see rise in demand for masks, ART kits after increase in COVID-19 cases
Singapore: Retailers are seeing an increase in demand for masks and antigen rapid test (ART) kits amid a surge in COVID-19 cases in Singapore. Despite the rise in sales, however, stocks of both masks and ART kits remain sufficient while their prices have been stable, retailers told CNA.



Global Economy & Real Estate


WHO warns Covid-19 pandemic still volatile

Fed likely to hike rates one more time and then hold steady, Bostic says

Airbnb adds Starwood to programme offering apartment rentals

US single-family housing starts increase in March

Housing market downturn among top risks to Canada’s financial system: regulator

Sydney house prices may have bottomed as supply stays tight

China economic growth bounces back as consumers spend again

China land sales revenue falls at slower pace in March

Chinese developers engage in intense bidding as Shanghai’s first land sale of the year gets under way

China firms see developed economies as best bet to recoup exports lost in pandemic, survey finds

Hong Kong leader rejects calls to drop property cooling measures after association head says decade-old curbs ‘prevent Earth from spinning’

Hong Kong home sales hit 20-month high, with return of mainland Chinese buyers, property tax cut boosting sentiment

Hong Kong luxury home sells for HK$577 million after border reopens

Cap starting rent for subdivided flats, Hong Kong concern group and lawmaker say as data shows rising prices despite new law

Big Japanese manufacturers remain gloomy as external demand ebbs: survey

Singapore-Malaysia QR code payment link a boost to cashless drive


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