Singapore Real Estate / Built Environment
Latest GLS programme designed to draw developers back to state tenders
Despite the uncertain global economic and political climate, the government will continue to provide stable land supply for private housing development in the second half of this year.
Retail competition aims to rejuvenate Singapore mall scene by offering free rent, financial support
Three retailers will get up to a year of free rent in prime shopping mall space and monetary support to pilot innovative concepts, as part of a competition aimed at rejuvenating Singapore’s retail sector. The first edition of the Retail Maverick Challenge – launched by Enterprise Singapore (EnterpriseSG) and asset management group CapitaLand Investment (CLI) on June 18 – is seeking out local retail brands with the most innovative store concepts.
https://www.zaobao.com.sg/realtime/singapore/story20250618-6850231
Record-high satisfaction with property agents, but rising expectations on advice, compliance: CEA survey
While a record 92 per cent of property consumers are satisfied with their agents’ services, more are seeking clearer advice and better guidance from agents, based on the 2024 Public Perception Survey by the Council for Estate Agencies (CEA).
https://www.zaobao.com.sg/realtime/singapore/story20250618-6856253
Singapore Economy / News
Economists slash Singapore growth forecast to 1.7%, with manufacturing expected to shrink: survey
Private-sector economists’ forecasts for Singapore’s full-year 2025 growth and inflation fell sharply in the latest quarterly survey published by the Monetary Authority of Singapore (MAS), as expectations dimmed amid worsening US-China tensions.
https://www.zaobao.com.sg/realtime/singapore/story20250618-6851981
WP co-opts 4 rookie MPs into CEC, NCMP Eileen Chong to head youth wing
The Workers’ Party has co-opted two of its rookie MPs and its two new Non-Constituency MPs (NCMPs) into its central executive committee – its highest decision-making body.
https://www.zaobao.com.sg/realtime/singapore/story20250618-6850733
Business News
BlackRock launches hedge fund for retail investors in Singapore and Hong Kong
BlackRock has launched an Asia-Pacific-focused hedge fund for retail investors in Singapore and Hong Kong, the world’s largest asset manager – with US$11.6 trillion in assets under management – announced on Wednesday (Jun 18).
DBS aims to double Australian lending book in 5 years
DBS Group aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank seeks to take advantage of trade links between Australia and South-east Asia.
https://www.straitstimes.com/business/banking/dbs-aims-to-double-australian-lending-book-in-5-years
https://www.zaobao.com.sg/realtime/singapore/story20250618-6860905
Far East Orchard secures £96 million for private fund to develop UK student accommodation
Far East Orchard on Wednesday (Jun 18) said its first private student accommodation development fund in Singapore has secured £96 million (S$166 million) in total committed capital at its closing.
https://www.zaobao.com.sg/realtime/singapore/story20250618-6868260
Hoi Hup Realty clinches resolution to grant planning consent for London ‘High Holborn’ project
Hoi Hup Realty on Wednesday (Jun 18) secured a resolution to grant planning consent from the City of London Corp for the “High Holborn” project, an office-led regeneration of a 0.6 hectare island site.
Standard Chartered cuts jobs in Singapore; moves them to India: Finance jobs portal
Dozens of staff at Standard Chartered have reportedly been laid off in Singapore in a fresh round of job cuts by the London-based bank. The move affected about 80 Singapore-based employees – understood to be from the bank’s technology and operations teams – with their jobs being offshored to India, according to finance jobs portal efinancialcareers.
https://www.straitstimes.com/business/standard-chartered-cuts-jobs-in-singapore-moves-them-to-india
Other News
8 drivers caught for providing illegal point-to-point services: LTA
Eight drivers have been caught providing illegal rides to two popular tourist spots – the Buddha Tooth Relic Temple and Museum, as well as Gardens by the Bay. The Land Transport Authority (LTA) said on Tuesday (Jun 17) that they were caught last week in a joint enforcement with the Singapore Tourism Board.
SIA flights from Changi Airport to Bali among dozens cancelled after Indonesia volcano eruption
Travellers scrambling for flights between S’pore and Bali after Indonesia volcano erupts
At least two dozen flights to and from the Indonesian resort island of Bali, including Singapore Airlines flights from Changi Airport, have been cancelled after a volcano in the archipelago’s east erupted, shooting an ash tower 10km into the sky.
https://www.zaobao.com.sg/realtime/singapore/story20250618-6851261
Global Economy / Real Estate News
US Fed keeps rates steady but pencils in two cuts by end of 2025; Powell sees ‘meaningful’ inflation ahead
US weekly jobless claims fall, but still elevated
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-fall-still-elevated
New US home construction falls to five-year low
https://www.businesstimes.com.sg/property/new-us-home-construction-falls-five-year-low
Amazon orders US employees to relocate to Seattle and other hubs; said to affect thousands of staff
Blackstone snaps up stakes in office buildings leased by Meta
https://www.businesstimes.com.sg/property/blackstone-snaps-stakes-office-buildings-leased-meta
China’s rare earth exports slump in May as magnet sales curbed
China consumer rush for subsidies overloads stimulus programme
European, North Asian companies also eyeing the potential of JS-SEZ: UOB banker
Court suspends work ban on Hong Kong contractor linked to 5 site deaths
India developer’s US$1.3 billion luxury project sells out in one week
Indonesia central bank keeps rates steady, leaves door open to more easing
BOJ’s inflation warning leaves room for another rate hike this year
Malaysia hopes to draw back talent to power JS-SEZ
https://www.businesstimes.com.sg/international/asean/malaysia-hopes-draw-back-talent-power-js-sez
Malaysia to build 50% more gas-fired power capacity to meet data centre demand
Microsoft planning thousands more job cuts aimed at salespeople
New Zealand’s economic recovery gathers pace as exports jump
Thai May export growth beats forecast with fastest pace in more than three years
https://www.channelnewsasia.com/business/thai-may-exports-jump-184-yy-well-above-forecast-5188666
UK inflation slows in May but food prices jump
https://www.businesstimes.com.sg/international/uk-inflation-slows-may-food-prices-jump
London’s sky-high prices thin the ranks of room-to-rent seekers
https://www.businesstimes.com.sg/property/londons-sky-high-prices-thin-ranks-room-rent-seekers
Made in Vietnam: Hanoi cracks down on fake goods as US tariffs loom
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