Singapore Real Estate / Built Environment
Some 14,000 new homes planned in Sembawang and Woodlands
Two new housing estates offering around 14,000 homes are being planned in Singapore’s northern region, with the first public housing project to be launched in February 2025. More than 80 per cent of the homes – around 12,000 units – will be set aside for public housing flats, said Minister for National Development Desmond Lee, speaking during the HDB Awards ceremony on Tuesday (Oct 22).
https://www.businesstimes.com.sg/property/some-14000-new-homes-planned-sembawang-and-woodlands
https://www.straitstimes.com/singapore/housing/new-sembawang-north-woodlands-north-housing-areas-to-yield-14000-homes
https://www.channelnewsasia.com/singapore/sembawang-north-woodlands-north-coast-new-housing-areas-build-new-homes-4690306
https://www.zaobao.com.sg/news/singapore/story20241023-5215777
Sengkang BTO project wins HDB awards for construction and design features
Singapore – Playgrounds and gardens inspired by the surrounding flora and fauna, fully pedestrianised common areas, and an underground carpark with direct access to the lift lobbies of residential blocks.
https://www.straitstimes.com/singapore/housing/sengkang-bto-project-wins-hdb-awards-for-construction-and-design-features
Singapore News
Construction of new 30-storey MOE building in Buona Vista to begin in 2025
Singapore: The Ministry of Education (MOE) will commence the construction of a new building adjacent to its current one on North Buona Vista Drive in 2025, with the move allowing it to consolidate its headquarters staff at a single location.
https://www.channelnewsasia.com/singapore/moe-staff-operations-be-consolidated-new-building-goh-keng-swee-centre-education-4693816
https://www.straitstimes.com/singapore/new-moe-building-named-after-goh-keng-swee-in-north-buona-vista-to-begin-construction-in-2025
Oil pipeline leak: Clean-up targeted to be completed in ‘coming days’
Singapore: Clean-up operations following the oil leak from a Shell pipeline are targeted to be completed in the “coming days”, the authorities said on Tuesday (Oct 22). There have also been no other oil sightings at sea or ashore as of 3pm.
https://www.channelnewsasia.com/singapore/oil-leak-shell-pipeline-pulau-bukom-clean-up-operations-4694356
Business News
CapitaLand Ascott Trust to divest Tianjin property at undisclosed price
CapitaLand Ascott Trust (Clas) has agreed to divest its property in Tianjin, China, managers of the stapled group said on Tuesday (Oct 22).
https://www.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-divest-tianjin-property-undisclosed-price
Keppel Pacific Oak US Reit Q3 distributable income falls 8.8% to US$11.9 million
Keppel Pacific Oak US Reit (Kore) posted a distributable income of US$11.9 million for the third quarter ended Sep 30, down 8.8 per cent from US$13.1 million in the previous corresponding period.
https://www.businesstimes.com.sg/companies-markets/keppel-pacific-oak-us-reit-q3-distributable-income-falls-8-8-us11-9-million
https://www.zaobao.com.sg/realtime/singapore/story20241023-5216477
Mapletree Logistics Trust posts 10.6% fall in DPU to S$0.02027
The distribution per unit (DPU) of (MLT) fell by 10.6 per cent to S$0.02027 for the second quarter ended Sep 30, on the back of higher borrowing costs and lower revenue contributions from China.
https://www.businesstimes.com.sg/companies-markets/mapletree-logistics-trust-posts-10-6-fall-dpu-s0-02027
https://www.zaobao.com.sg/realtime/singapore/story20241022-5215426
OUE unit to issue S$50 million in fixed-rate green notes due 2029 at 4%
An OUE subsidiary, OUE Treasury, has proposed to issue S$50 million in green notes due 2029 at a fixed rate of 4 per cent per annum, the property player said on Tuesday (Oct 22).
https://www.businesstimes.com.sg/companies-markets/oue-unit-issue-s50-million-fixed-rate-green-notes-due-2029-4
Global Economy & Real Estate
IMF predicts slightly slower global growth in 2024 and 2025
https://www.businesstimes.com.sg/international/imf-predicts-slightly-slower-global-growth-2024-and-2025
https://www.straitstimes.com/business/economy/imf-predicts-slightly-slower-global-growth-in-2024-and-2025
Xi Jinping makes economic-centric instructions to spur China’s growth
https://www.scmp.com/economy/policy/article/3283393/xi-jinping-makes-economic-centric-instructions-spur-chinas-growth
IMF lowers China 2024 growth forecast, warns property woes ‘could worsen’
https://www.businesstimes.com.sg/international/imf-lowers-china-2024-growth-forecast-warns-property-woes-could-worsen
https://www.scmp.com/economy/economic-indicators/article/3283403/despite-chinas-stimulus-imf-lowers-gdp-forecast-property-consumer-confidence
China’s youth unemployment rate falls after climbing for two straight months
https://www.businesstimes.com.sg/international/chinas-youth-unemployment-rate-falls-after-climbing-two-straight-months1
https://www.channelnewsasia.com/business/chinas-youth-unemployment-rate-falls-after-climbing-two-straight-months-4693451
China’s Singles’ Day sales festival fails to inspire consumers
https://www.channelnewsasia.com/business/china-singles-day-11-11-festival-fails-inspire-consumers-4694191
https://www.straitstimes.com/business/economy/chinas-singles-day-sales-festival-fails-to-inspire-consumers
Germany’s Scholz working with industry to boost growth
https://www.businesstimes.com.sg/international/germanys-scholz-working-industry-boost-growth
Hong Kong property market sees price increases as confidence returns, sales surge
https://www.scmp.com/business/article/3283276/hong-kong-property-market-sees-price-increases-confidence-returns-sales-surge
Hong Kong lawmakers question need for HK$700 million gallery on prime site to showcase projects
https://www.scmp.com/news/hong-kong/society/article/3283435/hong-kong-lawmakers-question-need-hk700-million-gallery-prime-site-showcase-projects
Thailand says growth may not reach 3% in 2024, but in 2025
https://www.businesstimes.com.sg/international/thailand-says-growth-may-not-reach-3-2024-2025
Thai central bank governor sees ‘high’ bar to another rate cut
https://www.businesstimes.com.sg/international/asean/thai-central-bank-governor-sees-high-bar-another-rate-cut
Is Sydney the new London for investing in commercial property? Some Singapore companies seem to think so
https://www.businesstimes.com.sg/companies-markets/sydney-new-london-investing-commercial-property-some-singapore-companies-seem-think-so
Higher UK deficit piles pressure on finance minister before Budget
https://www.businesstimes.com.sg/international/higher-uk-deficit-piles-pressure-finance-minister-budget
IMF boosts UK growth second most in G-7, but warns on debt
https://www.businesstimes.com.sg/international/imf-boosts-uk-growth-second-most-g-7-warns-debt
Budget nerves mute UK’s usual autumn rise in home prices
https://www.businesstimes.com.sg/property/budget-nerves-mute-uks-usual-autumn-rise-home-prices
Big UK property sales to test market appetite after slump
https://www.businesstimes.com.sg/property/big-uk-property-sales-test-market-appetite-after-slump
UK pay growth steadies, employers see further slowing in 2025
https://www.businesstimes.com.sg/international/uk-pay-growth-steadies-employers-see-further-slowing-2025
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