SINGAPORE REAL ESTATE
Holland Rise GCB site up for sale again with S$106m asking price
A land site in the Holland Rise good class bungalow (GCB) area has been put up for sale with an indicative price of S$106 million, said marketing agent Knight Frank on Wednesday (Nov 23). The same site was put up for sale in January 2021 for S$68 million, pointing to a 55 per cent jump in asking price in under two years.
https://www.businesstimes.com.sg/property/holland-rise-gcb-site-sale-again-s106m-asking-price
Heartland shops on expiring 30-year leases cautious about making long-term plans
Singapore: The future is uncertain for Union Book Co – a fixture at Bras Basah Complex – with its 30-year lease set to end in 2028. The iconic bookstore, where long-time customers make up half its sales, is troubled by the impending tenancy changes.
https://www.channelnewsasia.com/singapore/heartland-shops-30-year-lease-expiry-3092256
SINGAPORE ECONOMY
Singapore’s 2023 growth forecast at 0.5-2.5%; 2022 forecast narrowed to ‘around 3.5%’
Singapore’s economy is forecast to grow at between 0.5 per cent and 2.5 per cent in 2023, while the official full-year growth forecast for 2022 has been narrowed to “around 3.5 per cent”, according to data from the Ministry of Trade and Industry (MTI) on Wednesday (Nov 23).
https://www.businesstimes.com.sg/singapore/economy-policy/singapores-2023-growth-forecast-05-25-2022-forecast-narrowed-around-35
https://www.straitstimes.com/business/singapore-sees-economic-growth-slowing-to-05-25-in-2023
https://www.channelnewsasia.com/singapore/singapore-economic-growth-forecast-slow-2023-global-uncertainties-3094441
https://www.todayonline.com/singapore/singapore-narrows-2022-growth-forecast-around-35-sees-lower-05-25-expansion-2023-2054071
Singapore expects trade growth of -2% to 0% for 2023; full-year forecast for 2022 upgraded
Singapore on Wednesday (Nov 23) upgraded its 2022 full-year trade forecasts for the third time this year, even as it projected negative to flat growth for 2023. Total merchandise trade is now projected to grow 19.5-20 per cent in 2022, up from an earlier prediction of 15-16 per cent, according to Enterprise Singapore (EnterpriseSG).
https://www.businesstimes.com.sg/singapore/economy-policy/singapore-expects-trade-growth-2-0-2023-full-year-forecast-2022-upgraded
https://www.straitstimes.com/business/s-pore-trade-growth-expected-to-dip-in-2023-with-forecast-of-2-to-0
COMPANIES’ BRIEF
BlackRock becomes substantial shareholder of Keppel
Asset manager BlackRock Inc became a substantial shareholder of conglomerate Keppel Corporation on Nov 18 after a related entity acquired 87,600 shares for a total of some S$650,000, a bourse filing on Tuesday (Nov 22) showed.
https://www.businesstimes.com.sg/companies-markets/spotlight/blackrock-becomes-substantial-shareholder-keppel
EC World Reit to remain a going concern, in discussions with lead loan lenders for repayment
The board of directors at EC World Real Estate Investment Trust (EC World Reit) has assessed that the trust will remain a going concern, a bourse filing on Tuesday (Nov 22) said.
https://www.businesstimes.com.sg/companies-markets/spotlight/ec-world-reit-remain-going-concern-discussions-lead-loan-lenders
GLOBAL ECONOMY & GLOBAL REAL ESTATE
Battling inflation ‘priority’ as global growth slows: OECD
https://www.businesstimes.com.sg/international/battling-inflation-priority-global-growth-slows-oecd
UK rental market crisis leaves Brits paying for rooms with household work
https://www.businesstimes.com.sg/property/uk-rental-market-crisis-leaves-brits-paying-rooms-household-work
UK government borrows less than expected in October, but worse to come
https://www.businesstimes.com.sg/international/uk-government-borrows-less-expected-october-worse-come
New Zealand steps up inflation fight with record rate hike of 75 basis points
https://www.straitstimes.com/business/new-zealand-steps-up-inflation-fight-with-record-rate-hike
Economist who called China’s housing slump sees slow recovery
https://www.businesstimes.com.sg/property/economist-who-called-chinas-housing-slump-sees-slow-recovery
China’s ‘slow, painful’ reopening threatens more economic strain
https://www.businesstimes.com.sg/international/chinas-slow-painful-reopening-threatens-more-economic-strain
China’s great reopening may come too late for many businesses
https://www.businesstimes.com.sg/international/global/chinas-great-reopening-may-come-too-late-many-businesses
Australia may have to live with more volatile inflation, says RBA
https://www.businesstimes.com.sg/international/australia-may-have-live-more-volatile-inflation-says-rba
South Korea seen opting for smaller interest-rate hike on credit risks
https://www.businesstimes.com.sg/international/south-korea-seen-opting-smaller-interest-rate-hike-credit-risks
South Korea warns of supply disruptions, economic damage if truckers strike
https://www.businesstimes.com.sg/international/south-korea-warns-supply-disruptions-economic-damage-if-truckers-strike