Singapore Real Estate / Built Environment
Shophouse at 27 Neil Road on the market for around $8 mil
A two-storey corner shophouse at Neil Road and Duxton Road was listed for sale last month with a guide price of $8 million. According to Krystal Khor, director of Mondania and marketing agent for the property, “it has received a lot of interest”.
https://www.edgeprop.sg/property-news/shophouse-27-neil-road-market-around-8-mil
Real estate veteran Koh Teck Chuan debuts as boutique developer with The Ranz on Rangoon Road
As the former CEO of MCL Land, Koh Teck Chuan oversaw the acquisition of sizeable land plots and the development of large-scale residential projects. These included the 738-unit J’Gateway in Jurong East, the 696-unit Lakeville in Jurong West, and the 1,327-unit Sol Acres executive condo in Choa Chu Kang.
https://www.edgeprop.sg/property-news/real-estate-veteran-koh-teck-chuan-debuts-boutique-developer-ranz-rangoon-road
Singapore Economy
Prime Minister Huang: my country will continue the momentum of the state visit to Sweden to establish closer ties
King Carl XVI of Sweden concluded his three-day visit to Singapore. Prime Minister Lawrence Wong said Singapore will continue the momentum of this state visit and establish closer ties with Sweden.
https://www.zaobao.com.sg/news/singapore/story20241121-5382813?ref=today-news-section-card-1
S’pore and Peru’s carbon trading agreement reaches advanced stage
Baku, Azerbaijan – Peru is set to be among the first few countries that Singapore could buy carbon credits from, with a bilateral agreement on carbon trading reaching the advanced stage.
https://www.straitstimes.com/singapore/spore-and-perus-carbon-trading-agreement-reaches-advanced-stage
https://www.zaobao.com.sg/news/singapore/story20241122-5382178
Singapore upgrades 2024 economic growth forecast to around 3.5%
Singapore on Friday (Nov 22) upgraded its economic growth forecast for 2024 to around 3.5 per cent, above the range of its previous prediction.
https://www.channelnewsasia.com/singapore/singapore-economic-gdp-growth-forecast-q3-upgrade-mti-4762721
https://www.businesstimes.com.sg/singapore/singapore-sees-2025-growth-1-3-upgrades-forecast-year-about-3-5
Singapore downgrades 2024 export forecasts again on weaker-than-expected recovery
Singapore has narrowed its 2024 full-year forecasts for both non-oil domestic exports (NODX) and total merchandise trade, on a worse-than-expected recovery in the beginning of the second half of this year. This was primarily due to volatile segments that could continue to drag Q4 performance.
https://www.businesstimes.com.sg/singapore/singapore-downgrades-2024-export-forecasts-again-weaker-expected-recovery
EDB to get new managing director in March
The Economic Development Board (EDB) will have a new person at the helm come Mar 1, 2025.
Jermaine Loy, currently the Principal Private Secretary to Senior Minister Lee Hsien Loong, will succeed Jacqueline Poh as managing director, said the Ministry of Trade and Industry in a statement on Thursday (Nov 21).
https://www.businesstimes.com.sg/singapore/edb-get-new-managing-director-march
https://www.zaobao.com.sg/news/singapore/story20241121-5381947
https://www.channelnewsasia.com/singapore/economic-development-board-edb-new-managing-director-jermaine-loy-jacqueline-poh-mti-4761931
Views, Reviews, Forum and Others
Non-profit ImpactSG launched to connect family offices to philanthropic causes
Singapore – Non-profit organisation ImpactSG was launched by President Tharman Shanmugaratnam on Nov 21, to engage a growing community of family offices here to contribute to Singapore and the Asean region.
https://www.straitstimes.com/singapore/non-profit-impactsg-launched-to-connect-family-offices-to-philanthropic-causes
https://www.zaobao.com.sg/news/singapore/story20241121-5382552?ref=today-news-section-card-9
Countdown celebrations across S’pore, including heartland and migrant workers’ dorms
Singaporeans will be able to usher in the new year and join in celebrations counting down to the nation’s 60th birthday at key places such as Marina Bay and Sentosa as well as 17 heartland locations on Dec 31.
https://www.straitstimes.com/singapore/ring-in-2025-at-various-locations-including-heartlands-and-migrant-workers-dorms
https://www.zaobao.com.sg/realtime/singapore/story20241121-5380623?ref=today-news-section-card-5
https://www.channelnewsasia.com/singapore/sg60-celebrations-new-year-one-countdown-2025-4762006
Global Economy & Real Estate
Gold prices rose sharply in 2024. Is it a good time to invest in gold?
https://www.straitstimes.com/business/gold-prices-rose-sharply-in-2024-is-it-a-good-time-to-invest-in-gold
US existing home sales rebound in October
https://www.businesstimes.com.sg/property/us-existing-home-sales-rebound-october
US mortgage rates resume climb, ratcheting up pressure on buyers
https://www.businesstimes.com.sg/property/us-mortgage-rates-resume-climb-ratcheting-pressure-buyers
German property market picks up as big deals rebound
https://www.businesstimes.com.sg/property/german-property-market-picks-big-deals-rebound
Hong Kong’s Tsim Sha Tsui named world’s fourth most expensive shopping district
https://www.scmp.com/business/article/3287548/tsim-sha-tsui-named-worlds-fourth-most-expensive-shopping-district
Second try for Hong Kong land sale draws 33 developers as cautious bids expected
https://www.scmp.com/business/article/3287578/second-try-hong-kong-land-sale-draws-33-developers-cautious-bids-expected?module=top_story&pgtype=section
Hong Kong’s private wealth assets rise for first time since 2020
https://www.businesstimes.com.sg/companies-markets/banking-finance/hong-kongs-private-wealth-assets-rise-first-time-2020
Japan inflation eases to 2.3% in October: official data
https://www.businesstimes.com.sg/international/japan-inflation-eases-2-3-october-official-data
Sri Lanka’s inflation rate drops to minus 0.7% in October
https://www.businesstimes.com.sg/international/sri-lankas-inflation-rate-drops-minus-0-7-october
Thai economy to grow 2.7% this year, beat 2025 forecast, PM says
https://www.businesstimes.com.sg/international/asean/thai-economy-grow-2-7-year-beat-2025-forecast-pm-says
ThaiBev’s FY2024 net profit dips 1% to 27.2 billion baht
https://www.businesstimes.com.sg/companies-markets/thaibevs-fy2024-net-profit-dips-1-27-2-billion-baht
UK factories see signs of recovery in output: CBI
https://www.businesstimes.com.sg/international/uk-factories-see-signs-recovery-output-cbi
UK rental inflation picks up for first time in seven months
https://www.businesstimes.com.sg/property/uk-rental-inflation-picks-first-time-seven-months
UK parents spend £29 billion to help kids buy homes
https://www.businesstimes.com.sg/property/uk-parents-spend-ps29-billion-help-kids-buy-homes
Wealth hubs go on charm offensive to lure UK super-rich
https://www.businesstimes.com.sg/wealth/wealth-hubs-go-charm-offensive-lure-uk-super-rich
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