Singapore Real Estate / Built Environment
Height limit of Singapore buildings near airports under review; move could increase housing supply
The government is reviewing Singapore’s height limits for buildings near airports, a move that could free up more space for both residential and commercial developments, Transport Minister Chee Hong Tat announced on Thursday (May 22).
https://www.zaobao.com.sg/news/singapore/story20250523-6443762
Judge questions whether Thomson View’s S$810 million en bloc deal secured 80% mandate within time stipulated
A High Court judge has questioned whether Thomson View Condominium received the 80 per cent mandate required for its collective sale to go through within the one-year period stipulated under the law.
Lornie Road bungalow of late property developer on market with S$82 million guide price
A two-storey bungalow in Lornie Road with seven bedrooms, which once belonged to the late property developer Chng Gim Huat, is on the market. The guide price of S$82 million works out to S$1,586 per square foot on the freehold land area of 51,700 sq ft.
Rising rents lead Siglap Drive shophouse businesses to close; bakery Flor Patisserie to shut by July
Rental hikes at a stretch of 16 shophouses in Siglap Drive have driven at least three tenants to close down there since 2024. Another two businesses told The Straits Times they will follow suit before the end of 2025.
Singapore News
‘Increasingly difficult and challenging’ to partner both US and China: DPM Gan Kim Yong
It is getting increasingly difficult and challenging to work with both the US and China amid rising uncertainty and geopolitical tensions, said Deputy Prime Minister Gan Kim Yong. Finding ways to do business that will be comfortable for both sides is a key issue that Singapore will have to navigate, said Gan, who is also minister for trade and industry.
Over a third of businesses in Singapore already hurting from tariff pain; 9 in 10 expect ripple effects soon: SBF poll
Over one-third of businesses in Singapore are already hurting from the global tariff war, with almost 90 per cent expecting to feel its fallout within the next six months. According to a Singapore Business Federation (SBF) survey of multinationals (MNCs), small-and-medium enterprise (SMEs) and large enterprises, three-quarters of businesses are staring at a revenue slide over the next six to 12 months.
Business News
Changi Airport Group full-year net profit doubles to S$841 million
Changi Airport Group (CAG) saw its net profit almost double to S$841 million for the full year ended Mar 31, up from S$431 million in the year-ago period.
https://www.zaobao.com.sg/realtime/singapore/story20250522-6444122
Savills appoints new group managing director to oversee property management and services
Savills Singapore has appointed industry veteran Cheng Su Chen as group managing director. She will be responsible for coordinating the company’s property management and facilities services-related businesses, driving operational integration and strategic growth.
https://www.zaobao.com.sg/realtime/singapore/story20250522-6439609
Other News
CPF Special, MediSave and Retirement Accounts’ interest rate remains at 4% for Q3 2025
The interest rate for the Central Provident Fund’s (CPF) Special, MediSave and Retirement Accounts (SMRA) will remain at 4 per cent per annum in the third quarter of 2025 – the same as the second quarter.
Fire breaks out in industrial building in Tuas, no injuries reported
A fire broke out in a warehouse in Tuas on the morning of May 22. No injuries were reported. In a Facebook post, the Singapore Civil Defence Force (SCDF) said it was alerted to the fire at 4 Tuas Avenue 18 at about 10am.
https://www.zaobao.com.sg/realtime/singapore/story20250522-6440212
Covid-19 testing demand surges as cases spike across Asia
Demand for Covid-19 tests is increasing in Hong Kong as cases surge in recent weeks, according to the top executive of diagnostic kit maker Phase Scientific International.
https://www.zaobao.com.sg/realtime/world/story20250521-6436446
Global Economy / Real Estate News
US House passes Trump’s sweeping tax-cut Bill
https://www.businesstimes.com.sg/international/us-house-passes-trumps-sweeping-tax-cut-bill
US business activity improves in May; inflation poised to accelerate sharply
Ultra rich wanted more China exposure before trade war: survey
Loan volume for offices plummets, German bank data show
https://www.businesstimes.com.sg/property/loan-volume-offices-plummets-german-bank-data-show
Hong Kong groups call for review of imported worker policy amid job losses
A HK hotel famed for S’pore food is now a prohibited place. The reason: National security
Hong Kong’s CK Hutchison stresses need for war chest in face of geopolitical tensions
Hong Kong developer CK Asset set to weather ‘stress test’ conditions, chairman says
Indonesia’s Q1 current account deficit narrows to 0.1 per cent of GDP
Japan’s core inflation hits more than 2-year high, keeps BOJ under pressure
Japan to ease timeframe for balancing budget
https://www.businesstimes.com.sg/international/japan-ease-timeframe-balancing-budget
Malaysia’s April inflation stable at 1.4%, but core rate hits 17-month high
Ringgit may gain most in South-east Asia on exporter conversion
UK budget strains deepen ahead of Reeves’ spending review
https://www.businesstimes.com.sg/international/uk-budget-strains-deepen-ahead-reeves-spending-review
Vietnam cites progress in US trade talks, will continue in June
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