Singapore Real Estate/Built Environment
Smith Street in Chinatown set for rejuvenation, with more curated offerings beyond retail, dining
Singapore – Visitors to Chinatown in the next few years can look forward to more curated offerings and experiences for both locals and tourists with the rejuvenation of Smith Street.
https://www.straitstimes.com/singapore/more-curated-offerings-beyond-retail-dining-for-smith-street-to-rejuvenate-chinatown
Government tightens HDB loan limits to tame resale market, extends more support to lower- to middle-income first-time buyers
New restrictions on Housing and Development Board (HDB) loans for flat buyers will be implemented to cool the public housing resale market, the Ministry of National Development (MND) said on Monday (Aug 19) night.
https://www.businesstimes.com.sg/property/government-tightens-hdb-loan-limits-tame-resale-market-extends-more-support-lower-middle-income
https://www.straitstimes.com/singapore/housing/new-property-cooling-measure-to-tighten-hdb-loan-limits-larger-grants-for-lower-income-flat-buyers
https://www.channelnewsasia.com/singapore/hdb-property-cooling-first-time-buyers-cpf-housing-grant-loan-value-limit-lowered-4554726
Singapore Economy
Two-thirds of Singapore consumers optimistic about local economy, but over half lack financial preparedness: survey
Singapore consumers are more optimistic about the local economy, with more than two-thirds of respondents (68 per cent) expressing confidence in the current economic environment.
https://www.businesstimes.com.sg/international/asean/two-thirds-singapore-consumers-optimistic-about-local-economy-over-half-lack-financial-preparedness
Commentary: GDP is not the best measure of a nation’s success
Singapore: Two and a half years on from Russia’s invasion of Ukraine, the fighting shows no signs of abating. Since the war began in February 2022, Moscow has faced increasing international isolation and a broad swath of economic sanctions imposed by Western nations, particularly on its primary export commodity, oil.
https://www.channelnewsasia.com/commentary/gdp-measure-health-success-economy-quality-growth-more-important-4547671
Business News
Keppel, ADB, EnterpriseSG to explore US$800 million of energy and environmental projects
Keppel has inked a memorandum of understanding with Asian Development Bank (ADB) and Enterprise Singapore (EnterpriseSG) to explore US$800 million worth of energy transition and environmental sustainability opportunities in the Asia-Pacific.
https://www.businesstimes.com.sg/companies-markets/energy-commodities/keppel-adb-enterprisesg-explore-us800-million-energy-and-environmental-projects
https://www.theedgesingapore.com/news/environmental-social-and-governance/keppel-adb-enterprisesg-ink-mou-explore-us800-mil-energy
Soilbuild wins two contracts worth $69.6 mil, bringing order book to $1.25 bil
Soilbuild Construction Group has been awarded two new contracts with an aggregate contract value of $69.6 million, comprising one construction contract and one precast and prefabrication contract.
https://www.theedgesingapore.com/news/contracts/soilbuild-wins-two-contracts-worth-696-mil-bringing-order-book-125-bil
Property groups should sell low-yielding investment properties, go slow in raising debt
Access to debt appears fine for Singapore-listed property groups. Frasers Property announced in July that it had secured a sustainability-linked loan amounting to around S$904 million, comprising an Australian dollar tranche and a US dollar tranche.
https://www.businesstimes.com.sg/opinion-features/property-groups-should-sell-low-yielding-investment-properties-go-slow-raising-debt
Global Economy & Real Estate
Global digital economy will hit US$16.5 trillion by 2028: report
https://www.businesstimes.com.sg/international/global/global-digital-economy-will-hit-us16-5-trillion-2028-report
https://www.straitstimes.com/business/global-digital-economy-will-hit-us165-trillion-by-2028-report
US workers more glum on compensation and work prospects, New York Fed says
https://www.businesstimes.com.sg/international/us-workers-more-glum-compensation-and-work-prospects-new-york-fed-says
Shifts in Asia’s rental markets are less dramatic than they appear
https://www.scmp.com/opinion/asia-opinion/article/3274986/shifts-asias-rental-markets-are-less-dramatic-they-appear
Australia’s Lendlease reports A$1.5 billion loss amid strategy shift, regulatory delays
https://www.businesstimes.com.sg/property/australias-lendlease-reports-1-5-billion-loss-amid-strategy-shift-regulatory-delays
Property downturn creating best opportunity in decades, Andy Gloor says
https://www.businesstimes.com.sg/property/property-downturn-creating-best-opportunity-decades-andy-gloor-says
Luxury properties defy China’s slumping home sales as big-city buyers splash out
https://www.scmp.com/business/china-business/article/3275032/luxury-properties-defy-chinas-slumping-home-sales-big-city-buyers-splash-out
Hong Kong Monetary Authority task force to help SMEs struggling to repay loans
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3275090/hong-kong-monetary-authority-create-task-force-support-struggling-smes-repaying-loans
Japan govt to raise long-term rate estimate to 2.1% in FY2025/2026, Nikkei reports
https://www.channelnewsasia.com/business/japan-govt-raise-long-term-rate-estimate-21-fy2025-2026-nikkei-reports-4555551
New Zealand population growth slows further on economic weakness
https://www.businesstimes.com.sg/international/new-zealand-population-growth-slows-further-economic-weakness
New Zealand house prices fall 1.4% in July: Reinz
https://www.businesstimes.com.sg/property/new-zealand-house-prices-fall-1-4-july-reinz
Philippines detects first mpox case this year, yet to determine strain
https://www.channelnewsasia.com/asia/philippines-mpox-first-case-year-strain-4554156
South Koreans expect hotter home prices with central bank set to meet
https://www.businesstimes.com.sg/property/south-koreans-expect-hotter-home-prices-central-bank-set-meet
https://www.theedgesingapore.com/news/property/south-koreans-expect-hotter-home-prices-central-bank-set-meet
Thai central bank to hold rates until Q2 2025, political turmoil risks early cut
https://www.businesstimes.com.sg/companies-markets/banking-finance/thai-central-bank-hold-rates-until-q2-2025-political-turmoil-risks-early-cut
https://www.channelnewsasia.com/business/thai-central-bank-hold-rates-until-q2-2025-political-turmoil-risks-early-cut-reuters-poll-4553891
Thailand growth quickens even as US$14 billion stimulus hangs
https://www.businesstimes.com.sg/international/asean/thailand-growth-quickens-even-us14-billion-stimulus-hangs
https://www.straitstimes.com/business/thailand-growth-quickens-yet-stimulus-in-limbo-clouds-outlook
https://www.channelnewsasia.com/business/thai-growth-quickens-q2-higher-consumption-tourism-4553981
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