Singapore Real Estate
More homeowners cash out as property prices peak
More private homeowners in Singapore sold their properties last year, as home prices appear to have peaked and the white-hot real estate market eased after successive rounds of cooling measures.
https://www.businesstimes.com.sg/property/more-homeowners-cash-out-property-prices-peak
BTO flats in Tanjong Rhu, Holland Village to go on sale in June
Two Build-To-Order (BTO) projects by the Geylang River in Tanjong Rhu and the first flats in Holland Village in at least a decade are among seven developments that will go on sale in June. Flats near a future Jurong Region Line MRT station in Teban Gardens and the first development in Chencharu, a new HDB residential area in Yishun, will also be on offer.
https://www.businesstimes.com.sg/property/bto-flats-tanjong-rhu-holland-village-go-sale-june
https://www.straitstimes.com/singapore/housing/bto-flats-in-tanjong-rhu-holland-village-to-go-on-sale-in-june
Business News
Genting Singapore H2 profit rises 31% to S$334.9 million on strong post-pandemic recovery
Integrated resort operator Genting Singapore posted a 31 per cent rise in net profit to S$334.9 million for the second half of 2023, from S$255.7 million in the previous corresponding period. This was mainly due to the significant post-pandemic recovery of its businesses across the board, leading to strong revenue gains, the company said in a regulatory filing on Thursday (Feb 22).
https://www.businesstimes.com.sg/companies-markets/genting-singapore-h2-profit-rises-31-s3349-million-strong-post-pandemic-recovery
https://www.straitstimes.com/business/genting-singapore-s-net-profit-jumps-80-in-2023-as-rws-recovers-to-near-pre-covid-levels
Shopee’s parent Sea seen consolidating Singapore footprint in one-north, Science Park
Sea Ltd, the parent company of e-commerce platform Shopee, looks to be consolidating its Singapore footprint into two main buildings – Rochester Commons and 5 Science Park Drive – from the current four main premises that it is leasing in one-north and Singapore Science Park.
https://www.businesstimes.com.sg/property/shopees-parent-sea-seen-consolidating-singapore-footprint-one-north-science-park
Boss of co-living player The Assembly Place eyes pole position, overseas expansion
Homegrown co-living player The Assembly Place (TAP) is not sitting on its laurels, even after having racked up exponential growth in the last five years. Started in 2019 with just six rooms in a landed home, the startup surpassed 1,800 rooms in 102 assets by end-2023, and manages S$500 million in assets. In 2021, it was managing 550 rooms in 16 assets worth S$250 million.
https://www.businesstimes.com.sg/property/boss-co-living-player-assembly-place-eyes-pole-position-overseas-expansion
Global Economy & Real Estate
US existing home sales rise to five-month high in January
https://www.businesstimes.com.sg/property/us-existing-home-sales-rise-five-month-high-january
US business activity moderates in February
https://www.businesstimes.com.sg/international/us-business-activity-moderates-february
US weekly jobless claims unexpectedly fall
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-unexpectedly-fall-3
Australia economy should avoid recession: NAB CEO
https://www.businesstimes.com.sg/international/australia-economy-should-avoid-recession-nab-ceo
China’s property foreclosures surge as growth slows
https://www.businesstimes.com.sg/property/chinas-property-foreclosures-surge-growth-slows
Pressure grows on China for big policy moves to fix economy
https://www.channelnewsasia.com/business/pressure-grows-china-big-policy-moves-fix-economy-4141341
China starts drafting bill to boost private sector and tackle sluggish post-Covid economy following major setbacks
https://www.scmp.com/news/china/politics/article/3252798/china-starts-drafting-bill-boost-private-sector-and-tackle-sluggish-post-covid-economy-following
Could China’s economy-boosting infrastructure plans throw a contradictory monkey wrench in the works?
https://www.scmp.com/economy/china-economy/article/3252875/could-chinas-economy-boosting-infrastructure-plans-throw-contradictory-monkey-wrench-works
China urgently needs to issue ‘most effective’ cash coupons to boost insufficient consumption, economist says
https://www.scmp.com/economy/china-economy/article/3252843/china-urgently-needs-issue-most-effective-cash-coupons-boost-insufficient-consumption-economist-says
Chinese developer Sunshine 100 says it is assessing impact of liquidation order against controlling shareholder Joywise Holdings
https://www.scmp.com/business/article/3252867/chinese-developer-sunshine-100-says-it-assessing-impact-liquidation-order-against-controlling
Dubai property frenzy sees buyers queue for million-dollar homes
https://www.businesstimes.com.sg/property/dubai-property-frenzy-sees-buyers-queue-million-dollar-homes
EU states jostle to host new anti-money laundering agency
https://www.businesstimes.com.sg/international/eu-states-jostle-host-new-anti-money-laundering-agency
Eurozone business activity inches towards growth in Feb: survey
https://www.businesstimes.com.sg/international/eurozone-business-activity-inches-towards-growth-feb-survey
https://www.straitstimes.com/business/economy/euro-zone-business-activity-decline-slows-in-february
German economic downturn deepens unexpectedly in February: PMI
https://www.businesstimes.com.sg/international/german-economic-downturn-deepens-unexpectedly-february-pmi
Hong Kong developers Sino Land, Hysan expect last year’s ‘uncertainties’ to loom over city’s property sector this year as well
https://www.scmp.com/business/article/3252877/hong-kong-developers-sino-land-hysan-expect-last-years-uncertainties-loom-over-citys-property-sector
BOJ to scrap negative interest rates in April, say over 80% of economists : Reuters poll
https://www.channelnewsasia.com/business/boj-scrap-negative-interest-rates-april-say-over-80-economists-reuters-poll-4141156
Japan’s Jan inflation likely to lag BOJ target for first time in nearly 2 years: Reuters poll
https://www.channelnewsasia.com/business/japans-jan-inflation-likely-lag-boj-target-first-time-nearly-2-years-reuters-poll-4141356
Eiffel Tower closed for fourth day as its workers strike
https://www.businesstimes.com.sg/international/eiffel-tower-closed-fourth-day-its-workers-strike
Singapore awaiting Malaysia’s reply on proposal to purchase its land in Woodlands: ICA
https://www.straitstimes.com/singapore/singapore-awaiting-malaysia-s-reply-on-proposal-to-purchase-its-land-in-woodlands-ica
Thai rate-cut case backed by investors amid government pressure
https://www.businesstimes.com.sg/international/thai-rate-cut-case-backed-investors-amid-government-pressure
Thai PM to keep pressing for rate cut, seeks central bank chief meeting
https://www.businesstimes.com.sg/international/thai-pm-keep-pressing-rate-cut-seeks-central-bank-chief-meeting
UK economy puts recession behind it, but inflation pressures rise
https://www.businesstimes.com.sg/international/uk-economy-puts-recession-behind-it-inflation-pressures-rise
UK consumer morale falls unexpectedly in February: GfK survey
https://www.businesstimes.com.sg/international/uk-consumer-morale-falls-unexpectedly-february-gfk-survey
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