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The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News – 21 Mar 2023 (Tue)

Singapore Real Estate

 

Singapore is sixth most expensive city for office space: Savills
Singapore (EdgeProp) – Research by Savills has found that Singapore ranks as the sixth most expensive city for office space, beating other global hubs such as San Francisco, Shanghai and Seoul.
https://www.edgeprop.sg/property-news/singapore-sixth-most-expensive-city-office-space-savills

 

In the face of high home rentals, consider growing a build-to-rent segment
Property tax rates have risen for residential landlords. Borrowing costs are escalating for many homeowners. Low-risk alternatives to investing in homes such as Singapore dollar fixed deposits, treasury bills and Singapore Savings Bonds are looking more attractive with higher interest rates offered.
https://www.businesstimes.com.sg/opinion-features/face-high-home-rentals-consider-growing-build-rent-segment

 

Data centres have become more green, but are limited by Singapore’s reliance on gas: Experts
Singapore: Data centres in Singapore have become more sustainable over the years, but for them to significantly reduce their carbon footprint, they would have to overcome significant obstacles.
https://www.channelnewsasia.com/singapore/data-centre-renewable-energy-efficiency-sustainable-3338781

 

Freehold restaurant floor at Oxley Tower for sale at $12.9 mil
Singapore (EdgeProp) – An entire freehold strata floor at Oxley Tower, located along Robinson Road in the CBD, is up for sale through an expression of interest exercise with a guide price of $12.9 million.
https://www.edgeprop.sg/property-news/freehold-restaurant-floor-oxley-tower-sale-129-mil

 

Govt to announce plan for existing dorms to meet improved standards later in 2023: Tan See Leng
Singapore – The details of a plan to support the retrofitting of existing worker dormitories to meet higher standards of living will be announced later in 2023, after almost two years of deliberations and discussions.
https://www.straitstimes.com/singapore/politics/govt-to-announce-plan-for-existing-dorms-to-meet-improved-standards-later-in-2023-tan-see-leng

 

HDB bought back 4 flats from owners who could not sell them due to caps on ethnic quota
Singapore – In 2022, the Housing Board bought back flats from four owners who could not sell their homes due to ethnic quota limits. Providing this figure on Monday, National Development Minister Desmond Lee said HDB received 411 appeals related to the Ethnic Integration Policy (EIP) last year.
https://www.straitstimes.com/singapore/politics/hdb-bought-back-4-flats-from-owners-who-could-not-sell-them-due-to-caps-on-ethnic-quota

 

 

Singapore Economy

 

Covid-19 White Paper aims not to critique but draw lessons after honest appraisal: DPM Wong
The point of the Singapore government’s Covid-19 after-action review (AAR) is not to look back and critique the past with hindsight, but to be honest in appraising its own actions and learn from the experience, Deputy Prime Minister and Finance Minister Lawrence Wong said in Parliament on Monday (Mar 20).
https://www.businesstimes.com.sg/singapore/covid-19-white-paper-aims-not-critique-draw-lessons-after-honest-appraisal-dpm-wong
https://www.straitstimes.com/singapore/politics/the-gist-mps-discuss-tackling-future-pandemics-migrant-worker-housing
https://www.channelnewsasia.com/singapore/covid19-white-paper-debate-mps-raise-questions-preparations-future-pandemic-public-spending-migrant-worker-dormitories-3360161

 

Singapore to set up dedicated centre for public health and forward planning team to prepare for future pandemics
Singapore — A dedicated centre for public health as well as a team that will anticipate and monitor risks will be set up to better prepare Singapore for the next pandemic, said Deputy Prime Minister Lawrence Wong on Monday (March 20).
https://www.todayonline.com/singapore/singapore-set-dedicated-centre-public-health-and-forward-planning-team-prepare-future-pandemics-2133506
https://www.channelnewsasia.com/singapore/covid-19-review-white-paper-lawrence-wong-disease-pandemic-control-3359576

 

850 compulsory retrenchment notices in 2023 so far; one quarter from tech: MOM
The Ministry of Manpower (MOM) has received about 850 mandatory retrenchment notifications since the start of the year, said Manpower Minister Tan See Leng on Monday (Mar 20). Around a quarter of them came from the information and communications sector, he said.
https://www.businesstimes.com.sg/singapore/850-compulsory-retrenchment-notices-2023-so-far-one-quarter-tech-mom

 

The gist: MPs discuss tackling future pandemics, migrant worker housing
Singapore — The handling of the coronavirus outbreak in migrant worker dormitories, supply chain problems and Singapore’s mask-wearing policy were among the various issues heard when Parliament debated on the Covid-19 White Paper
https://www.todayonline.com/singapore/outbreak-worker-dorms-supply-chain-parliament-debates-covid-19-white-paper-2133561

 

 

Companies’ Brief

 

Hatten Land says most of its projects have been completed in clarification statement
Hatten Land Limited has issued a statement on March 20 to make clarifications on “certain media articles” on the group’s projects. In its statement, the group says the majority of its projects have been completed and delivered to their respective buyers.
https://www.theedgesingapore.com/news/property/hatten-land-says-most-its-projects-have-been-completed-clarification-statement

 

Soilbuild seeks to overturn order to pay S$1 million to subcontractor
Construction company Soilbuild Construction said on Monday (Mar 20) that it will be applying to overturn an order from the Singapore Mediation Centre to pay close to S$1 million to its subcontractor. The amount will instead be paid to court as security, as it pursues further legal proceedings against the subcontractor.
https://www.businesstimes.com.sg/companies-markets/soilbuild-seeks-overturn-order-pay-s1-million-subcontractor

 

 

Global Economy & Real Estate

 

Uncertainty reigns as Fed mulls whether to raise interest rates
https://www.businesstimes.com.sg/international/uncertainty-reigns-fed-mulls-whether-raise-interest-rates

 

These are the world’s most expensive cities for business travel
https://www.businesstimes.com.sg/international/these-are-worlds-most-expensive-cities-business-travel

 

Britain’s financial industry plans blueprint for post-Brexit ‘kickstart’
https://www.businesstimes.com.sg/international/britains-financial-industry-plans-blueprint-post-brexit-kickstart

 

Asian central banks face little impact from US, Europe banking crisis
https://www.businesstimes.com.sg/companies-markets/banking-finance/asian-central-banks-face-little-impact-us-europe-banking-crisis

 

Small Pacific islands look to push sustainable tourism as visitors return
https://www.straitstimes.com/asia/australianz/small-pacific-islands-look-to-sustainable-tourism-as-visitors-return

 

Hong Kong developer opens new office towers amid record vacancy
https://www.businesstimes.com.sg/property/hong-kong-developer-opens-new-office-towers-amid-record-vacancy

 

South Korea producer inflation eases in Feb for eighth month in a row
https://www.channelnewsasia.com/business/south-korea-producer-inflation-eases-feb-eighth-month-row-3361511

 

Malaysia’s Subang Airport’s redevelopment plan to be finalised by end-June: transport minister
https://www.businesstimes.com.sg/international/asean/malaysias-subang-airports-redevelopment-plan-be-finalised-end-june-transport

 

 

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