Singapore Real Estate
Commentary: Can the land that country clubs occupy be put to better use in Singapore?
Singapore: News that Raffles Town Club’s lease will expire in 2026 raises questions about the future of country clubs in Singapore. Many have leases expiring sometime between 2030 and 2040, including Orchid Country Club, whose lease will not be renewed after it expires in 2030.
https://www.channelnewsasia.com/commentary/country-club-lease-expire-land-housing-golf-course-3959891
S-Reits rebound 7.4 per cent in November, best month in 3 years
The iEdge S-Reit Index ended November with a 7.4 per cent total return, reversing the 7.0 per cent decline seen in October. Similar performance was seen across most major Reit markets after signals from the US Federal Reserve that rate hikes are likely over, with the broader FTSE EPRA Nareit Developed Index gaining 7.8 per cent in total returns over the month.
https://www.businesstimes.com.sg/companies-markets/s-reits-rebound-74-cent-november-best-month-3-years
Marriott and IOI Properties to launch W Hotel in Marina Bay district
Marriott International has signed an agreement with Bursa Malaysia-listed property developer IOI Properties Group to operate a new 350-room luxury hotel, W Singapore – Marina View. The hotel will be housed within a 51-storey, mixed-use development at the 99-year leasehold, 84,110 sq ft Marina View site, which IOI purchased for $1.508 billion in September 2021.
https://www.edgeprop.sg/property-news/marriott-and-ioi-properties-launch-w-hotel-marina-bay-district
The risk of renting your homes to criminals and dubious tenants
Employing an estate agent to do the heavy lifting has been a time-honoured way of ensuring that the tenants from hell don’t end up renting your investment unit, but some due diligence on the owner’s part won’t be wasted.
https://www.straitstimes.com/business/invest/the-risk-of-renting-your-homes-to-criminals-and-dubious-tenants
Owner loses 5-room HDB flat after renting it out illegally
A crafty property investor came up with a “foolproof” scheme – buy a new public housing unit, rope in a dodgy estate agent and then blatantly ignore HDB rules to rent it all out. What could possibly go wrong?
https://www.straitstimes.com/business/invest/owner-loses-5-room-hdb-flat-after-renting-it-out-illegally
Singapore Economy
Singapore signs MOU with Fiji to collaborate on carbon credits
Singapore and Fiji have signed an agreement to collaborate on carbon markets, the Republic said on Dec 3. “As members of the Alliance of Small Island States, Singapore and Fiji are both vulnerable to the effects of climate change,” said Minister for Trade and Industry Gan Kim Yong, who signed the memorandum of understanding (MOU) with Fiji’s Prime Minister and Minister for Climate Change Sitiveni Rabuka.
https://www.straitstimes.com/singapore/singapore-signs-mou-with-fiji-to-collaborate-on-carbon-credits
https://www.channelnewsasia.com/sustainability/cop28-teo-chee-hean-climate-change-action-low-carbon-energy-net-zero-emissions-3961466
COP28: New MAS guidelines for banks to finance transition activities to drive greater climate action
To boost climate mitigation across eight key sectors, Singapore has set new criteria for banks and financial institutions on the financing of green business activities, and transitional activities that are currently not green but are on a pathway to net-zero emissions.
https://www.straitstimes.com/singapore/new-mas-guidelines-for-banks-to-finance-transition-activities-to-drive-greater-climate-action
https://www.theedgesingapore.com/news/environmental-social-and-governance/mas-launches-singapore-asia-taxonomy-worlds-first-include
Companies’ Brief
Beijing Capital hires Citi to sell Singapore waste company ECO in up to S$535 million deal: sources
China’s state-owned Beijing Capital Group has hired Citigroup to sell its wholly-owned Singapore waste management company ECO in a deal that could fetch S$401 million to S$535 million, said two sources with knowledge of the matter.
https://www.businesstimes.com.sg/companies-markets/beijing-capital-hires-citi-sell-singapore-waste-company-eco-s535-million-deal
Koh Brothers and Koh Brothers Eco Engineering hit by cybersecurity incident
Koh Brothers Group and Koh Brothers Eco Engineering on Dec 4, announced that both companies were recently hit by a cyberattack. The incident resulted in unauthorised access to, and the encryption of certain of their servers.
https://www.theedgesingapore.com/news/cybersecurity/koh-brothers-and-koh-brothers-eco-engineering-hit-cybersecurity-incident
https://www.businesstimes.com.sg/companies-markets/koh-brothers-eco-units-face-cyber-attack-investigation-ongoing
SingLand approves sale of residential unit to CEO Jonathan Eu’s wife for $7.7 mil
Singapore Land Group (SingLand) has announced the sale of a residential development unit to Elaine Low, the wife of SingLand CEO Jonathan Eu. On Dec 1, the company approved the proposed sale by its joint venture company, United Venture Development (Watten), of a unit in its Watten House project for a price of $7.7 million.
https://www.theedgesingapore.com/news/company-news/singland-approves-sale-residential-unit-ceo-jonathan-eus-wife-77-mil
Swire Properties expects sales boost for Indonesia Savyavasa project as Jakarta eases foreign buying requirements
Swire Properties is ramping up marketing and promotion for its joint venture luxury property project in Indonesia following Jakarta’s move to ease property purchase requirements for foreign investors by allowing them to simply present their passport instead of a special stay permit.
https://www.scmp.com/business/article/3243588/swire-properties-expects-sales-boost-indonesia-savyavasa-project-jakarta-eases-foreign-buying
Global Economy & Real Estate
Real estate euphoria highlights trader angst for end to rate hikes
https://www.businesstimes.com.sg/property/real-estate-euphoria-highlights-trader-angst-end-rate-hikes
Powell brushes off rate-cut bets as Fed moves carefully
https://www.theedgesingapore.com/news/us-economy/powell-brushes-rate-cut-bets-fed-moves-carefully
US construction spending rises in October
https://www.businesstimes.com.sg/property/us-construction-spending-rises-october
US pending home sales index drops to lowest level on record
https://www.businesstimes.com.sg/property/us-pending-home-sales-index-drops-lowest-level-record
Reserve Bank of Australia to hold rates on Dec 5, Aussie home prices to rise 5% in 2024: poll
https://www.businesstimes.com.sg/companies-markets/banking-finance/reserve-bank-australia-hold-rates-dec-5-aussie-home-prices-rise-5
Australian job advertisements fall 4.6% in November: ANZ-Indeed
https://www.businesstimes.com.sg/international/australian-job-advertisements-fall-46-november-anz-indeed
British property prices rise unexpectedly for a third month
https://www.businesstimes.com.sg/property/british-property-prices-rise-unexpectedly-third-month
Soaring Canadian housing costs power a population boom in Alberta
https://www.businesstimes.com.sg/property/soaring-canadian-housing-costs-power-population-boom-alberta
China has more space to cut reserve ratio instead of interest rates, says ex-official
https://www.channelnewsasia.com/business/china-has-more-space-cut-reserve-ratio-instead-interest-rates-says-ex-official-3962581
China frames ‘one province, one policy’ plan for financial risk
https://www.businesstimes.com.sg/international/china-frames-one-province-one-policy-plan-financial-risk
China urged to look to low-income groups like migrant workers to ignite new growth engines
https://www.scmp.com/economy/china-economy/article/3243673/china-urged-focus-low-income-groups-migrant-workers-economy-seeks-new-growth-engines
Easing of Shenzhen’s housing market policies may lift sentiment, but is limited and could be offset soon. Here’s why
https://www.scmp.com/business/china-business/article/3243674/easing-shenzhens-housing-market-policies-may-lift-sentiment-limited-and-could-be-offset-soon-heres
Hong Kong cuts public housing waiting time to boost birth rates
https://www.businesstimes.com.sg/property/hong-kong-cuts-public-housing-waiting-time-boost-birth-rates
https://www.scmp.com/news/hong-kong/society/article/3243491/hong-kong-cuts-waiting-time-transitional-housing-public-flat-applicants-newborns-2-years
Sun Hung Kai’s biggest weekend property sale since 2022 pays off, as homebuyers snap up flats at Yoho West amid strong demand
https://www.scmp.com/business/article/3243632/sun-hung-kais-biggest-weekend-property-sale-2022-pays-homebuyers-snap-flats-yoho-west-amid-strong
India’s construction sector levels up as housing demand spurs economy
https://www.businesstimes.com.sg/international/indias-construction-sector-levels-housing-demand-spurs-economy
Kiwi house prices to rise modestly next year on high interest rates
https://www.businesstimes.com.sg/property/kiwi-house-prices-rise-modestly-next-year-high-interest-rates
Blackstone’s flex offices biggest in London as WeWork retreats
https://www.businesstimes.com.sg/property/blackstones-flex-offices-biggest-london-wework-retreats
Tokyo core CPI growth seen slowing to 2.5% in November: Reuters poll
https://www.channelnewsasia.com/business/tokyo-core-cpi-growth-seen-slowing-25-november-reuters-poll-3958596
Top Abu Dhabi developer buys London Square for US$291 million
https://www.businesstimes.com.sg/property/top-abu-dhabi-developer-buys-london-square-us291-million
The Big Read: As Singaporeans flock to Malaysia to seek respite from rising costs, are they inflicting the same on JB?
https://www.channelnewsasia.com/singapore/singaporeans-malaysia-ringgit-rising-costs-spending-big-read-3961036
NYC realtors are grappling over who will pay commissions
https://www.businesstimes.com.sg/property/nyc-realtors-are-grappling-over-who-will-pay-commissions
How corporations created the prototypical Seoul apartment
https://www.businesstimes.com.sg/property/how-corporations-created-prototypical-seoul-apartment
Thailand’s proposed 100 km land bridge poses little threat to Singapore, Malaysia ports: analysts
https://www.businesstimes.com.sg/international/asean/thailands-proposed-100-km-land-bridge-poses-little-threat-singapore-malaysia
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