Singapore Real Estate / Built Environment
CapitaLand Development subsidiary wins tender to repurpose Kallang Way terraced factories
The tender for a 4.41ha industrial site in Kallang Way has been awarded to a subsidiary of CapitaLand Development for $369 million, JTC Corporation said on Nov 20. CL Savour Property will have to retain and repurpose the existing three-storey terraced factory, which was built in the 1980s and is the last of its kind in Singapore.
https://www.straitstimes.com/singapore/capitaland-development-subsidiary-wins-tender-to-repurpose-kallang-way-terraced-factories
https://www.zaobao.com.sg/realtime/singapore/story20241120-5374623
Data centres the standout performers among S-Reits in Q3
Data centres turned out to be the surprise package in what was otherwise an expected financial performance posted by Singapore-listed real estate investment trusts, or S-Reits, in the third quarter ended September.
https://www.businesstimes.com.sg/companies-markets/data-centres-standout-performers-among-s-reits-q3
S-Reit investors will need patience after Trump’s win dashes hopes of fast rate cuts
Investors of Singapore-listed real estate investment trusts, or S-Reits, would have had their bubbles burst after former United States president Donald Trump won the latest presidential elections in the country.
https://www.businesstimes.com.sg/opinion-features/s-reit-investors-will-need-patience-after-trumps-win-dashes-hopes-fast-rate-cuts
Home prices set to rise in Hong Kong, Singapore, Australia in 2025
Property prices in Asia’s major markets are expected to rise over the next year with Hong Kong leading the projected gains, according to Bloomberg Intelligence (BI). Beyond Hong Kong, homes in Singapore, Australia and Japan will all become more expensive in 2025, a report from BI found.
https://www.businesstimes.com.sg/international/global/home-prices-set-rise-hong-kong-singapore-australia-2025
Condo rents up 0.5% in October; HDB rental market perks up
Private condominium rents rose 0.5 per cent in October, as leasing volume fell for the third straight month to 5,712 units, down 7.5 per cent from September, according to data from 99-SRX. In contrast, rental volume in the public housing market rose 2.9 per cent month on month with 2,398 Housing and Development Board flats leased.
https://www.businesstimes.com.sg/property/condo-rents-0-5-october-hdb-rental-market-perks-srx-99-co
https://www.straitstimes.com/singapore/housing/condo-rents-up-0-5-in-october-hdb-rental-market-picks-up-slightly-srx-99-co
https://www.zaobao.com.sg/realtime/singapore/story20241120-5372854
Business News
KPMG to spend US$100 million on AI partnership with Google Cloud
KPMG said on Wednesday (Nov 20) it would spend US$100 million over the next four years to bolster its enterprise artificial intelligence (AI) services through a partnership with Alphabet’s Google Cloud.
https://www.businesstimes.com.sg/companies-markets/kpmg-spend-us100-million-ai-partnership-google-cloud
https://www.channelnewsasia.com/business/kpmg-spend-100-million-ai-partnership-google-cloud-4759901
Maybank eyes Johor-Singapore SEZ for growth; targets 25% profit contribution from Singapore by 2027
The upcoming Johor-Singapore Special Economic Zone (SEZ) could drive a 10 to 20 per cent growth in Maybank Singapore’s loan book within the first year of operation, country chief executive Alvin Lee told The Business Times.
https://www.businesstimes.com.sg/international/asean/maybank-eyes-johor-singapore-sez-growth-targets-25-profit-contribution-singapore-2027
Global Economy & Real Estate
World leaders seek stability with China as Biden exits stage
https://www.businesstimes.com.sg/international/world-leaders-seek-stability-china-biden-exits-stage
Australia critical infrastructure faces cyber threats: report
https://www.businesstimes.com.sg/international/australia-critical-infrastructure-faces-cyber-threats-report
Dubai-based family offices now manage over US$1 trillion in assets
https://www.businesstimes.com.sg/international/global/dubai-based-family-offices-now-manage-over-us1-trillion-assets
Eurozone wage growth surges in test for ECB rate cuts
https://www.businesstimes.com.sg/international/eurozone-wage-growth-surges-test-ecb-rate-cuts
Hong Kong property tycoons plough money into rebounding IPO market
https://www.businesstimes.com.sg/property/hong-kong-property-tycoons-plough-money-rebounding-ipo-market
https://www.scmp.com/business/markets/article/3287363/hong-kong-ipos-get-boost-sino-land-new-world-tycoons-back-sf-holdings-listing
Bridgewater’s Prince buys HK$95 million Hong Kong flat, joining financiers in putting down roots
https://www.scmp.com/business/article/3287412/bridgewaters-prince-buys-hk95-m-hong-kong-flat-joining-financiers-putting-down-roots
Explainer-How far could the Bank of Japan raise interest rates?
https://www.channelnewsasia.com/business/explainer-how-far-could-bank-japan-raise-interest-rates-4758726
Japan set to approve US$87 billion economic stimulus this week
https://www.businesstimes.com.sg/international/japan-set-approve-us87-billion-economic-stimulus-week
https://www.channelnewsasia.com/business/japan-set-approve-87-billion-economic-stimulus-week-4759111
Japan exports rebound on China demand as Trump tariff risks loom
https://www.straitstimes.com/business/economy/japans-exports-grow-helped-by-china-even-as-global-risks-rise
Blackstone nears US$2.6 billion deal for Seibu’s Tokyo Complex
https://www.businesstimes.com.sg/property/blackstone-nears-us2-6-billion-deal-seibus-tokyo-complex
New Zealand Treasury sees deeper economic downturn pressuring tax take
https://www.businesstimes.com.sg/international/new-zealand-treasury-sees-deeper-economic-downturn-pressuring-tax-take
IMF cuts South Korea’s growth outlook as trade headwinds grow
https://www.businesstimes.com.sg/international/imf-cuts-south-koreas-growth-outlook-trade-headwinds-grow
South Korea Nov 1-20 exports rise 5.8% year-on-year
https://www.channelnewsasia.com/business/south-korea-nov-1-20-exports-rise-58-year-year-4760986
Conflict in Myanmar sparks surge in Thai property purchases
https://www.businesstimes.com.sg/international/asean/conflict-myanmar-sparks-surge-thai-property-purchases
Thailand expects to distribute $4 billion in handouts in Q2 next year
https://www.channelnewsasia.com/business/thailand-expects-distribute-4-billion-handouts-q2-next-year-4758761
UK inflation jumps to 2.3%, underscoring BOE’s stance for gradual rate cuts
https://www.businesstimes.com.sg/international/uk-inflation-jumps-2-3-underscoring-boes-stance-gradual-rate-cuts
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