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The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News 22 January 2025 (Wed)

Singapore Real Estate / Built Environment

 

‘We will always keep public housing affordable for Singaporeans’: PM Wong

Singapore – Public housing will always be kept affordable for Singaporeans, both now and in the future, said Prime Minister Lawrence Wong.  He gave this assurance during a dialogue on Jan 21 with close to 900 student participants across various education institutions at the University Cultural Centre in NUS.

https://www.straitstimes.com/singapore/we-will-always-keep-public-housing-affordable-for-singaporeans-pm-wong

https://www.zaobao.com.sg/news/singapore/story20250121-5769412?ref=today-news-section-card-1

https://www.channelnewsasia.com/singapore/hdb-bto-flats-public-housing-prices-affordable-government-assures-resale-property-market-lawrence-wong-4887396

 

Jadescape owner sells unit for S$4.4 million profit after 5 years, topping Q4 resale gains

A 4,230 square foot (sq ft) unit at Jadescape in Bishan was sold for S$10.2 million in December 2024, earning the seller a tidy profit of S$4.4 million – making it the most profitable transaction by quantum in the fourth quarter of 2024.

https://www.businesstimes.com.sg/property/jadescape-owner-sells-unit-s4-4-million-profit-after-5-years-topping-q4-resale-gains

 

Approximately 5,000 flats from nine towns will obtain MOP this year

Almost-new resale HDB flats are popular because such flats offer prospective buyers the best of both worlds. Prospective buyers have the opportunity to own a property with a long remaining lease while avoiding the lengthy waiting times associated with build-to-order (BTO) flats.

https://www.edgeprop.sg/property-news/approximately-5000-flats-nine-towns-will-obtain-mop-year

 

 

Singapore Economy

 

Risk of US cutting itself off from China low, other countries can help manage rivalry: PM Wong

Singapore – The risk of the US cutting itself off from China is not high at this stage, given the “tremendous interdependencies” between both countries, said Prime Minister Lawrence Wong.  And as long as they do not force others to pick sides, Singapore will be able to navigate the growing competition between them.

https://www.straitstimes.com/singapore/risk-of-us-cutting-itself-off-from-china-low-other-countries-can-help-manage-rivalry-pm-wong

https://www.youtube.com/watch?v=ICg4w_WQ_ks

 

Helping SMEs go green among the first major initiatives of PAP’s new climate action group

Singapore – Laws to combat greenwashing and make sustainability a key criterion for all government tenders will be among nine recommendations set out in an upcoming parliamentary motion aimed at helping smaller firms decarbonise.

https://www.straitstimes.com/singapore/helping-smes-go-greener-among-key-steps-of-paps-new-climate-action-group

https://www.channelnewsasia.com/singapore/singapore-pap-desmond-lee-sustainability-environment-climate-action-group-parliament-motion-4886981

 

Singapore’s STI ends 0.3% lower as investors digest Trump 2.0, no immediate China tariffs

Singapore – Stocks in Singapore closed lower on Jan 21, following US President Donald Trump’s second inauguration, even though most markets in the region ended in the black.  The benchmark Straits Times Index (STI) slipped 0.3 per cent or 12.6 points to finish at 3,795.37.

https://www.straitstimes.com/business/companies-markets/singapores-sti-ends-0-3-lower-as-investors-digest-trump-2-0-no-immediate-china-tariffs

https://www.straitstimes.com/business/companies-markets/singapores-sti-ends-0-3-lower-as-investors-digest-trump-2-0-no-immediate-china-tariffs

 

 

Business News

 

Mapletree Logistics Trust posts 11.1% fall in Q3 DPU to S$0.02003 

The distribution per unit (DPU) for Mapletree Logistics Trust : M44U -0.78% (MLT) fell 11.1 per cent to S$0.02003 for its third quarter ended Dec 31, 2024, from S$0.02253 in the prior year.

https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-posts-11-1-fall-q3-dpu-s0-02003

https://www.theedgesingapore.com/capital/results/mapletree-logistics-trust-3qfy2024-dpu-declines-111-y-o-y-2003-cents

 

Meinhardt Singapore and Japanese fund sign MOU to explore digital and smart city projects in Asean

Singapore-headquartered engineering consulting firm Meinhardt has signed a memorandum of understanding (MOU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN) to jointly explore and deliver digital and smart city projects in third-world Asean countries, according to a Jan 17 release.

https://www.edgeprop.sg/property-news/meinhardt-singapore-and-japanese-fund-sign-mou-explore-digital-and-smart-city-projects-asean

 

Sabana Reit posts 32.2% rise in H2 DPU to S$0.0152, with 10% kept for capital management

Sabana Industrial Real Estate Investment Trust (Reit) : M1GU +1.35% posted a distribution per unit (DPU) of S$0.0152 for the half-year ended Dec 31, 2024, up 32.2 per cent from S$0.0115 in the year-ago period.

https://www.businesstimes.com.sg/companies-markets/sabana-reit-posts-32-2-rise-h2-dpu-s0-0152-10-kept-capital-management

https://www.theedgesingapore.com/capital/results/sabana-reit-declares-improved-dpu-286-cents-fy2024-36-higher-y-o-y

 

Sembcorp launches Nusantara solar power plant to serve its electricity needs  

Sembcorp Industries announced its launch of a power plant in Indonesia’s capital Nusantara on Monday (Jan 20). The Nusantara Sembcorp Solar Energi Power Plant is a joint initiative between Sembcorp’s wholly owned subsidiary PT Sembcorp Renewables Indonesia and PT PLN Nusantara Renewables, a unit under Indonesian government-owned utilities corporation PLN.

https://www.businesstimes.com.sg/companies-markets/sembcorp-launches-nusantara-solar-power-plant-serve-its-electricity-needs

 

 

Global Economy & Real Estate

 

Trump’s tightrope between oil sanctions and dollar status

https://www.businesstimes.com.sg/opinion-features/trumps-tightrope-between-oil-sanctions-and-dollar-status

 

Easing tariff fears cement bets on ECB rate cut next week

https://www.businesstimes.com.sg/international/easing-tariff-fears-cement-bets-ecb-rate-cut-next-week

 

Aramco chief expects additional oil demand of 1.3 million bpd this year

https://www.businesstimes.com.sg/companies-markets/energy-commodities/aramco-chief-expects-additional-oil-demand-1-3-million-bpd-year

 

Asean carbon market might face setbacks with Trump back in power

https://www.businesstimes.com.sg/opinion-features/asean-carbon-market-might-face-setbacks-trump-back-power

 

Gold holds steady as markets focus on Trump’s policies

https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-holds-steady-markets-focus-trumps-policies

https://www.straitstimes.com/business/gold-extends-gain-greenback-volatile-after-president-trump-first-moves-in-office

 

US office REITs close with double-digit growths after Trump’s return to office mandate

https://www.theedgesingapore.com/news/reits/us-office-reits-close-double-digit-growths-after-trumps-return-office-mandate

 

Chinese yuan surges after Trump goes easy on China in inaugural address

https://www.scmp.com/economy/china-economy/article/3295601/chinese-yuan-surges-after-trump-goes-easy-china-inaugural-address?module=top_story&pgtype=section

 

Country Garden shares surge 11% in resumed trade after nine-month halt

https://www.businesstimes.com.sg/property/country-garden-shares-surge-11-resumed-trade-after-nine-month-halt

https://www.scmp.com/business/article/3295684/country-garden-shares-jump-17-trading-resumption-amid-debt-restructuring-hopes?module=top_story&pgtype=section

 

Hongkongers to keep forfeiting flat deposits at high rate, agents forecast

https://www.scmp.com/business/article/3295691/hongkongers-keep-forfeiting-flat-deposits-high-rate-agents-forecast?module=top_story&pgtype=section

 

New Hong Kong title deeds system should include existing owners: lawmakers

https://www.scmp.com/news/hong-kong/society/article/3295610/new-hong-kong-land-property-registry-should-include-existing-owners-lawmaker

 

New World offers US$15 billion for loan collateral as stress grows

https://www.businesstimes.com.sg/property/new-world-offers-us15-billion-loan-collateral-stress-grows

https://www.businesstimes.com.sg/property/ubs-halts-margin-loans-some-new-world-development-securities

 

Indonesia’s President Prabowo to spend $3 billion on new capital city through 2029

https://www.straitstimes.com/asia/indonesias-president-prabowo-to-spend-3-billion-on-new-capital-city-through-2029

 

Johor Bahru’s property boom: Are locals getting priced out?

https://www.youtube.com/watch?v=js2H1O3-uEc

 

Philippine finance chief sees slower rate cuts on global risks

https://www.businesstimes.com.sg/international/philippine-finance-chief-sees-slower-rate-cuts-global-risks

 

Radisson Collection hotel opens in Sri Lanka

Radisson Collection, a luxury hotel brand under the Radisson Hotel Group, has opened a seafront property in Galle, Sri Lanka. The 106-key Radisson Collection Resort, Galle marks the brand’s inaugural hotel in the Southeast Asia and Pacific region. It is also the group’s fourth hotel in Sri Lanka.

https://www.edgeprop.sg/property-news/radisson-collection-hotel-opens-sri-lanka

 

UK wage growth hits six-month high ahead of crunch BOE meeting

https://www.straitstimes.com/business/economy/uk-wage-growth-hits-six-month-high-ahead-of-crunch-boe-meeting

 

Vietnamese businesses brace for Trump’s tariffs

https://www.youtube.com/watch?v=8JNW5Z1lv74

 

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