DAILY NEWS

Daily News – 19 Aug 2022 (Fri)

SINGAPORE REAL ESTATE

Swiss Club Road GCB on market for S$39.9m or S$1,874 psf
A freehold bungalow in the Good Class Bungalow (GCB) enclave of Swiss Club Road has come on the market, asking S$39.9 million in a private treaty sale. At that price, the 10,600 sq ft house, sitting on 21,293 sq ft of land, is valued at about S$1,874 per square foot (psf) of land.
https://www.businesstimes.com.sg/real-estate/swiss-club-road-gcb-on-market-for-s399m-or-s1874-psf

Auric Pacific CEO granted option to buy Belmont Road bungalow for S$55.5 million
A freehold bungalow in the Belmont Park Good Class Bungalow (GCB) Area is in the early stage of being sold for S$55.5 million or about S$2,055 per square foot (psf) on its land area of 27,000 sq ft.
https://www.businesstimes.com.sg/real-estate/auric-pacific-ceo-granted-option-to-buy-belmont-road-bungalow-for-s555-million

Jalan Besar freehold coffee shop up for sale at S$28m guide price
A 2-storey freehold coffee shop unit at Hoa Nam Building is looking for takers at a S$28 million guide price via an expression of interest (EOI) exercise, sole marketing agent Savills Singapore announced on Thursday (Aug 18).
https://www.businesstimes.com.sg/real-estate/jalan-besar-freehold-coffee-shop-up-for-sale-at-s28m-guide-price

S$1.8b collective sale tender for People’s Park Centre closes without bids
The collective sale tender for People’s Park Centre in Chinatown closed Thursday (Aug 18) without any bids. A spokesman for its marketing agency, ERA Realty Network, told The Straits Times it will be initiating private negotiations with some developers in the next 10 weeks.
https://www.businesstimes.com.sg/real-estate/s18b-collective-sale-tender-for-peoples-park-centre-closes-without-bids
https://www.straitstimes.com/business/property/18-billion-collective-sale-tender-for-peoples-park-centre-closes-without-bids

Bali Lane shophouse sold for $23 million; record psf price in Kampong Glam area
Singapore – A shophouse in Bali Lane in the Arab Street area, currently occupied by entertainment venue Blu Jaz Cafe, has changed hands for $23 million. Mr Koh Tuck Lye, co-founder of Chinese venture capital firm Shunwei Capital, lodged a caveat earlier this month for the 999-year leasehold shophouse at 11 Bali Lane, according to a property title information search.
https://www.straitstimes.com/business/property/bali-lane-shophouse-sold-for-23-million-record-psf-price-in-kampong-glam-area

SINGAPORE ECONOMY

Transition to green economy must be orderly to keep inflation in check, job market stable: MAS chief
Decarbonising the global economy will induce inflation and trigger a major reset of the labour market, said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). However, an orderly transition to a greener economy may help keep both inflationary pressures and the disruption in labour markets manageable, he said in a speech at the Economic Society of Singapore’s annual dinner on Wednesday (Aug 17).
https://www.businesstimes.com.sg/government-economy/transition-to-green-economy-must-be-orderly-to-keep-inflation-in-check-job-market
https://www.straitstimes.com/business/economy/transition-to-green-economy-must-be-orderly-to-keep-inflation-in-check-job-market-stable-mas-chief