Singapore Real Estate / Built Environment
Raffles Place Park to be revamped into space for relaxation, social interaction by 2028
Singapore – Raffles Place Park, located above Raffles Place MRT station, will be redeveloped by 2028 into “a key urban park” and “a destination for relaxation and social interaction”.
https://www.straitstimes.com/singapore/raffles-place-park-to-be-redeveloped-by-2028-into-space-for-relaxation-and-social-interaction
Cathay Cineplexes in AMK Hub to shut down as part of mall undergoes refurbishment
Singapore – Cathay Cineplexes will be shutting its operations at AMK Hub on June 30, with the Ang Mo Kio mall set to refurbish the fourth floor of the building.
https://www.straitstimes.com/singapore/cathay-cineplexes-in-amk-hub-to-shut-down-operations-as-part-of-mall-s-refurbishment-plan
First BTO flats in Bayshore, Kembangan integrated development to be launched in October
Singapore – The first Housing Board flats in Bayshore and an integrated development in Kembangan are among 14 Build-To-Order (BTO) projects that will go on sale in October.
https://www.straitstimes.com/singapore/housing/first-bto-flats-in-bayshore-kembangan-integrated-development-to-be-launched-in-october
Singapore Economy
Singapore’s re-entry rate of retrenched workers down, job vacancies up in Q1
Fewer retrenched residents in Singapore are finding work within six months, while the number of job vacancies in Singapore continued to climb in the first quarter of 2024, indicated the Ministry of Manpower’s (MOM) Labour Market Report on Thursday (Jun 20).
https://www.businesstimes.com.sg/singapore/singapores-re-entry-rate-retrenched-workers-down-job-vacancies-q1
https://www.straitstimes.com/singapore/jobs/job-vacancies-in-singapore-go-up-even-as-unemployed-numbers-rise-mom-report
https://www.channelnewsasia.com/singapore/singapore-labour-market-report-q1-2024-manpower-ministry-4423346
Non-financial sectors in S’pore, including property, at higher risk of money laundering: Report
Singapore – A review of Singapore’s anti-money laundering regime has identified a number of non-financial sectors that are at higher risk of the crime, including property and casinos.
https://www.straitstimes.com/singapore/courts-crime/new-report-finds-non-financial-sectors-including-real-estate-at-higher-risk-of-money-laundering
https://www.businesstimes.com.sg/companies-markets/singapore-flags-corporate-service-providers-real-estate-among-non-bank-money-laundering-risks
https://www.scmp.com/news/asia/southeast-asia/article/3267355/singapore-warns-banks-pose-highest-money-laundering-risk-after-us224-billion-scandal
Business News
Frasers Hospitality debuts in Taiwan with over 200-key Taipei serviced apartment
Frasers Hospitality, a strategic business unit of Frasers Property, announced on Thursday (Jun 20) its entrance into Taiwan with its premium serviced apartment, in partnership with Taiwanese real estate developer Hongtai Group.
https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-debuts-taiwan-over-200-key-taipei-serviced-apartment
https://www.straitstimes.com/business/frasers-hospitality-expands-to-taiwan-with-over-200-key-taipei-serviced-apartment
Keppel Reit prices A$175 million floating rate green notes due 2027
Keppel Reit has priced A$175 million (S$158 million) of floating rate green notes due 2027, the Reit manager announced in a bourse filing on Thursday (Jun 20).
https://www.businesstimes.com.sg/companies-markets/keppel-reit-prices-175-million-floating-rate-green-notes-due-2027
Mapletree Investments divests North Carolina student housing asset
Mapletree Investments has divested its student accommodation asset in North Carolina, United States, for an undisclosed amount, it said on Thursday (Jun 20).
https://www.businesstimes.com.sg/companies-markets/mapletree-investments-divests-north-carolina-student-housing-asset
https://www.straitstimes.com/business/mapletree-investments-sells-north-carolina-student-dorm-for-undisclosed-amount
Paragon Reit to divest The Rail Mall for S$78.5 million
Paragon Real Estate Investment Trust has entered into a sale-and-purchase agreement for the divestment of The Rail Mall for a cash consideration of S$78.5 million.
https://www.businesstimes.com.sg/companies-markets/paragon-reit-divest-rail-mall-s78-5-million
https://www.straitstimes.com/business/paragon-reit-to-sell-the-rail-mall-for-785-million
Global Economy & Real Estate
US weekly jobless claims fell in latest week
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-fell-latest-week
US single-family housing starts fall in May
https://www.businesstimes.com.sg/property/us-single-family-housing-starts-fall-may
Oil prices slip as rate hike worries come into focus
https://www.channelnewsasia.com/business/oil-prices-slip-rate-hike-worries-come-focus-4425871
China plans new measures to attract venture capital investment
https://www.businesstimes.com.sg/international/china-plans-new-measures-attract-venture-capital-investment
China property recovery elusive despite relief, say S&P, Fitch; others see bright spots
https://www.scmp.com/property/article/3267394/china-property-recovery-elusive-despite-relief-say-sp-fitch-others-see-bright-spots
Indonesia central bank keeps rates unchanged, as expected
https://www.businesstimes.com.sg/international/indonesia-central-bank-keeps-rates-unchanged-expected
Japan’s May core inflation perks up, keeps rate hike prospect intact
https://www.businesstimes.com.sg/international/global/japans-may-core-inflation-perks-keeps-rate-hike-prospect-intact
Bank of Japan warns of potential hit to lenders from rising rates
https://www.channelnewsasia.com/business/bank-japan-warns-potential-hit-lenders-rising-rates-4423916
https://www.straitstimes.com/business/century-old-japanese-bank-sends-warning-to-world-on-higher-for-longer-rates
Japan’s June factory activity eases as costs rise, PMI shows
https://www.channelnewsasia.com/business/japans-june-factory-activity-eases-costs-rise-pmi-shows-4425856
Japan aims to double foreign tourists despite overtourism concerns
https://www.channelnewsasia.com/east-asia/japan-aims-double-foreign-tourists-despite-overtourism-concerns-4423881
https://www.scmp.com/news/asia/east-asia/article/3267379/japan-seeks-more-visitors-despite-overtourism-woes
Japan visitors top 3 million for third month as yen fuels boom
https://www.channelnewsasia.com/business/japan-visitors-top-3-million-third-month-yen-fuels-boom-4423176
Swiss National Bank presses ahead as rate cutting front-runner
https://www.businesstimes.com.sg/international/swiss-national-bank-presses-ahead-rate-cutting-front-runner
UK GfK consumer sentiment rises to highest since Nov 2021
https://www.businesstimes.com.sg/international/uk-gfk-consumer-sentiment-rises-highest-nov-2021
Bank of England keeps rates at 5.25% ahead of UK election
https://www.businesstimes.com.sg/international/bank-england-keeps-rates-5-25-ahead-uk-election
https://www.straitstimes.com/business/bank-of-england-holds-rates-steady-ahead-of-uk-election
In London, a houseboat used to be the affordable option. Not anymore
https://www.businesstimes.com.sg/property/london-houseboat-used-be-affordable-option-not-anymore
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