Singapore Real Estate / Built Environment
The government will introduce more locations to build executive condominiums and private homes to stabilize housing prices
The government will release more plots for the construction of executive condominiums and private houses, stabilize the prices of such houses, and give people more choices when buying houses. Minister for National Development Desmond Lee gave a video interview to Lianhe Zaobao on Tuesday (March 18) to discuss the various housing policies announced recently.
https://www.zaobao.com.sg/news/singapore/story20250319-6039849
Look at ‘hard data’ before getting carried away by million-dollar transactions: Desmond Lee
Housing Board flats will continue to remain affordable for all Singaporeans, with a strong pipeline of new flats in place and more units hitting the resale market in the coming years, Minister for National Development Desmond Lee has said. Mr Lee was speaking on The Straits Times’ current affairs podcast The Usual Place with podcast host Natasha Ann Zachariah and ST journalist Isabelle Liew on March 18, where he addressed worries about housing affordability, a key concern among voters as Singapore gears up for a general election.
Top three floors at 20 Collyer Quay transact for S$91.8 million
The top three floors at 20 Collyer Quay, a Grade A commercial building owned by GuocoLand, have been transacted for S$91.8 million or S$3,148 per square foot (psf). A caveat was lodged for the strata units, which span 29,160 square feet in total, on Mar 10, URA Realis data showed.
https://www.businesstimes.com.sg/property/top-three-floors-20-collyer-quay-transact-s91-8-million
Hong Kong’s Link Reit should consider listing a Singapore-centric Reit on the SGX
The size of Hong Kong’s real estate investment trust (Reit) market pales in comparison with Singapore’s. However, Hong Kong-listed Link Reit is a leader in the Reit universe. Managed by Link Asset Management, the Reit lays claim to being Asia’s largest by many measures, including asset value.
Singapore Economy
President Tharman approves record Budget, says S’pore must keep looking far ahead
President Tharman Shanmugaratnam has approved 2025’s bumper Budget, he said in a Facebook post on March 19. The record $143.1 billion spending plan is the last Budget of the current term of government.
Singapore government will take industry feedback seriously as business ties grow more important: PM Wong
Businesses’ feedback on needs and challenges will be taken seriously, as the government’s relationship with industry becomes increasingly important in Singapore’s next growth phase, said Prime Minister Lawrence Wong at a post-Budget dialogue on Wednesday (Mar 19).
https://www.zaobao.com.sg/news/singapore/story20250319-6040011
Economists keep 2.6% forecast for Singapore’s 2025 growth; Indonesia slowdown to have ‘limited’ impact
Private-sector economists maintained a median forecast of 2.6 per cent for Singapore’s 2025 growth – with 3.8 per cent growth expected in the first quarter – and lowered their expectations for inflation, in a quarterly survey on Wednesday (Mar 19).
https://www.channelnewsasia.com/singapore/singapore-economy-gdp-growth-forecast-mas-5009951
https://www.zaobao.com.sg/finance/singapore/story20250319-6040920
Singapore’s retrenchments grow in Q4, but job vacancies also rise
In the final quarter of 2024, retrenchments picked up, but so did job vacancies, the Ministry of Manpower’s (MOM) labour market report on Wednesday (Mar 19) showed. Meanwhile, resident employment rose in both the fourth quarter and for the full year – a turnaround from 2023’s decline.
https://www.businesstimes.com.sg/singapore/singapores-retrenchments-grow-q4-job-vacancies-also-rise
https://www.zaobao.com.sg/news/singapore/story20250319-6040724
Business News
Centurion surges to 52-week high amid heavy trading
Shares of purpose-built accommodation operator Centurion advanced amid a surge in trading volumes on Wednesday (Mar 19) morning. As at 11.54 am, the counter climbed 4.6 per cent or S$0.05 to S$1.14 – a 52-week high, after close to 1.7 million shares changed hands.
https://www.businesstimes.com.sg/companies-markets/centurion-surges-52-week-high-amid-heavy-trading
Siemens’ new Singapore factory on track despite move to cut 6,000 jobs globally
The impact of Siemens’ global job cuts on its Singapore workforce cannot be determined yet, as the German industrial giant is still deciding how the layoffs will be made across different locations. The company is unable to confirm yet whether, or how, the workers in its Singapore office will be affected, a spokesperson for Siemens Singapore told The Business Times on Wednesday.
Other News
Migrant worker rights group Home calls for ban on ‘unsafe’ practice of transporting workers on lorries
The migrant worker rights group Humanitarian Organisation for Migration Economics (Home) has urged the Government to ban the practice of transporting migrant workers on lorries. In a report released on March 19, Home called on the Government to provide a 12-month transport subsidy to help companies move away from using lorries to transport workers.
Got an e-mail to review your taxes? It might be scammers impersonating Iras
Scammers are now impersonating the taxman and sending e-mails to Singaporeans, asking them to click on a link to review their taxes. Those who receive an e-mail claiming that a routine tax review is being conducted should not click the link in it, warned the Inland Revenue Authority of Singapore (Iras) in a statement on March 19.
Global Economy & Real Estate
US Fed holds rates again, flags increased economic uncertainty
Canadian pension giant to close Hong Kong office, shift some staff to Singapore
Chinese tech hub Shenzhen sees exports slump over 16% as trade war fears rise
UBS sees China property turnaround coming sooner than expected
https://www.businesstimes.com.sg/property/ubs-sees-china-property-turnaround-coming-sooner-expected
Hong Kong maintains base rate at 4.75% as Fed holds fire on Trump’s tariff fallout
30% of Hong Kong companies expect to hire more staff in second quarter: survey
Hong Kong may extend grace period to 3 years to fix subdivided flats: sources
Chinese Estates CEO, sister sell retail shops in Hong Kong amid market stress
Indonesia central bank holds rates amid market uncertainties
BOJ keeps interest rates steady as Trump risk looms
https://www.channelnewsasia.com/business/boj-keeps-interest-rates-steady-widely-expected-5009796
London city office sells to Strategic Value Partners at 62% discount to offer price
New Zealand exits recession as fourth-quarter growth beats forecasts
Rate cuts to help Philippines hit 7% growth, finance chief says
South Korea moves to curtail rising speculation in home market
https://www.businesstimes.com.sg/property/south-korea-moves-curtail-rising-speculation-home-market
Thai economy to grow slightly above 2.5%, recovery more uneven, central bank minutes show
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