DAILY NEWS

Daily News – 19 Oct 2022 (Wed)

SINGAPORE REAL ESTATE

New URA guidelines call for bigger spaces for homes in non-landed developments in Central Area
Developers will need to provide for larger homes in non-landed projects in the Central Area from January 2023, when new guidelines from the Urban Redevelopment Authority (URA) for dwelling units kick in.
https://www.businesstimes.com.sg/real-estate/new-ura-guidelines-call-for-bigger-spaces-for-homes-in-non-landed-developments-in
https://www.straitstimes.com/business/new-ura-guideline-to-curb-shoebox-units-in-central-area

Luxury condo sales hold up in Q3 even as top-end GCB market softens
Demand for luxury condominiums in Singapore continues to hold up, even as sales of top-end Good Class Bungalows (GCB) soften, said Huttons Asia in its latest report on the luxury market released on Tuesday (Oct 18).
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/luxury-condo-sales-hold-up-in-q3-even-as-top-end-gcb-market-softens

Loyang Valley condo up for collective sale at S$980m
Loyang Valley, a 362-unit condominium in Changi, is making its first stab at a collective sale with a reserve price of S$980 million. The public tender for the 99-year leasehold site will open on Thursday (Oct 20).
https://www.businesstimes.com.sg/real-estate/mobile-spotlight/loyang-valley-condo-up-for-collective-sale-at-s980m
https://www.straitstimes.com/business/loyang-valley-condo-up-for-collective-sale-at-980-million

Limited office space, need for flexibility could support demand for co-working market
Co-working demand in Singapore could remain firm as some firms opt to rein in capital expenditure, amid tight vacancies in the office market, rising rents and economic headwinds. Occupancy has recovered from the troughs seen during the pandemic, when safe distancing measures kept employees home-bound, said several co-working operators.
https://www.businesstimes.com.sg/real-estate/limited-office-space-need-for-flexibility-could-support-demand-for-co-working-market

Market keeps watch on S-Reits’ debt levels as rising interest rates crush confidence
The likelihood of a higher-for-longer interest rate environment has gutted investor sentiment towards real estate investment trusts (Reits).
https://www.businesstimes.com.sg/companies-markets/market-keeps-watch-on-s-reits-debt-levels-as-rising-interest-rates-crush

SINGAPORE ECONOMY

Singapore needs twin strategy of staying open and developing local: DPM Wong
Singapore needs to pursue a twin strategy – of staying open and developing local – in order to continue thriving, said Deputy Prime Minister Lawrence Wong on Tuesday (Oct 18). “Openness is in fact the basic driver of human progress,” Wong said at the Singapore Economic Policy Forum 2022 held at Regent Singapore.
https://www.businesstimes.com.sg/government-economy/singapore-needs-twin-strategy-of-staying-open-and-developing-local-dpm-wong
https://www.straitstimes.com/singapore/to-thrive-singapore-must-stay-open-while-developing-own-talent-dpm-wong
https://www.channelnewsasia.com/singapore/singapore-economy-workers-jobs-skills-training-lawrence-wong-3012601

Singapore’s economy does not sufficiently value those doing ‘hands-on and heart work’: DPM Wong
Singapore’s economy places too much of a premium on cognitive abilities, and does not sufficiently value those engaging in “hands-on and heart work” such as technical, service and community care roles, said Deputy Prime Minister Lawrence Wong on Tuesday.
https://www.straitstimes.com/singapore/need-to-bridge-gap-in-how-head-work-and-other-types-of-work-are-valued-dpm-wong
https://www.todayonline.com/singapore/hand-heart-head-work-wong-2022451

Singapore, Australia deepen cooperation in green economy, ‘new strategic areas’ such as supply chains
Singapore and Australia are taking their cooperation further with the signing of a landmark Green Economy Agreement (GEA) and collaboration in “new strategic areas” such as supply chain resilience, Prime Minister Lee Hsien Loong said on Tuesday (Oct 18) in Canberra.
https://www.businesstimes.com.sg/government-economy/singapore-australia-deepen-cooperation-in-green-economy-new-strategic-areas-such
https://www.channelnewsasia.com/singapore/singapore-australia-lee-hsien-loong-anthony-albanese-green-economy-agreement-3012381

Slump in equity-guzzling Reits, Sats are signs of a coming ice age for the stock market
The Straits Times Index (STI) lurched below the 3,000 mark for about 45 minutes during early trading on Monday (Oct 17). But it managed to claw its way back up to close at 3,015.75 – 0.8 per cent below where it ended the preceding week.
https://www.businesstimes.com.sg/opinion/slump-in-equity-guzzling-reits-sats-are-signs-of-a-coming-ice-age-for-the-stock-market?login=true&close=true

HDB launches new five-year green senior bond at 4.09%, capped at S$1.2b
The Housing Development Board (HDB) has launched a new five-year green senior bond with a coupon rate of 4.09 per cent per annum, with an issue size capped at S$1.2 billion, according to a Bloomberg report on Tuesday (Oct 18).
https://www.businesstimes.com.sg/banking-finance/mobile-spotlight/hdb-launches-new-five-year-green-senior-bond-at-409-capped-at-s12b