Singapore Real Estate / Built Environment
Speech by MND Minister at BCA-REDAS Seminar
Up to $53 billion in construction contracts expected in 2025: BCA
Singapore – Some $47 billion to $53 billion in construction contracts are expected to be awarded in 2025, as construction demand grows this year, said the Building and Construction Authority (BCA) on Jan 23.
https://www.zaobao.com.sg/realtime/singapore/story20250123-5776710
Singapore private home rents fell 1.9% in 2024 in first full-year decline since 2020
Private home rents in Singapore fell 1.9 per cent in 2024, marking the first full-year decline since 2020. This was a sharp reversal from the 8.7 per cent increase in rents in 2023, according to figures released by the Urban Redevelopment Authority (URA) on Friday (Jan 24).
https://www.zaobao.com.sg/realtime/singapore/story20250124-5782273
Office rents in Singapore’s central region fall 0.9% quarter on quarter in Q4 2024, flat for whole year: URA
Office rents in Singapore’s central region fell 0.9 per cent in the fourth quarter of 2024 over the preceding quarter. This was a bigger drop compared with the 0.5 per cent quarter-on-quarter decrease in Q3 2024, based on Urban Redevelopment Authority (URA) data released on Friday (Jan 24).
Singapore’s industrial rents up 3.5% in 2024 after inching up 0.5% in Q4: JTC
Rental rates for industrial properties in Singapore inched up 0.5 per cent in the fourth quarter of 2024 as compared with the quarter before, JTC’s latest data released on Thursday (Jan 23) indicated.
https://www.zaobao.com.sg/realtime/singapore/story20250123-5777620
HDB resale prices up 2.6% in Q4, taking full-year gain to 9.7%
Resale prices of public housing flats rose 2.6 per cent in the fourth quarter of 2024, data from the Housing and Development Board (HDB) showed. The rise, announced on Friday (Jan 24), was a notch higher than the earlier estimated 2.5 per cent released on Jan 2.
https://www.businesstimes.com.sg/property/hdb-resale-prices-2-6-q4-taking-full-year-gain-9-7
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-up-9-7-in-2024-more-units-sold
https://www.zaobao.com.sg/realtime/singapore/story20250124-5782191
Singapore Economy
MAS eases monetary policy settings, lowers 2025 core inflation forecast to between 1 and 2 per cent
Singapore’s central bank eased monetary policy settings on Friday (Jan 24), after having held policy steady for more than two years since the last tightening move in October 2022. The move was in line with market expectations, after Singapore’s core inflation came in below the 2-per cent threshold in December for the second straight month.
https://www.channelnewsasia.com/singapore/mas-eases-monetary-policy-first-time-2020-4893471
https://www.zaobao.com.sg/realtime/singapore/story20250124-5782076
Singapore 2024 inflation averages 2.4%, close to official outlook
Singapore’s full-year inflation in 2024 came in at 2.4 per cent, close to the official forecast, and far lower than the elevated levels in the year before, data from the Singapore Department of Statistics showed on Thursday (Jan 23).
https://www.straitstimes.com/business/singapore-core-inflation-drops-further-to-1-8-in-december
https://www.zaobao.com.sg/realtime/singapore/story20250123-5777424
Companies could book S$14.5 billion more in revenue from EnterpriseSG support in 2024, down a tad from 2023
Amid a challenging business environment in 2024, Singapore companies could grow their annual revenue by S$14.5 billion, and create 12,300 jobs through projects supported by Enterprise Singapore (EnterpriseSG).
Business News
ESR Reit posts 15.9% fall in H2 DPU to S$0.00997
The manager of ESR Real Estate Investment Trust (ESR Reit) posted a distribution per unit (DPU) of S$0.00997 for its second half (H2) ended Dec 31, 2024, down 15.9 per cent from S$0.01186 a year ago.
https://www.businesstimes.com.sg/companies-markets/esr-reit-posts-15-9-fall-h2-dpu-s0-00997
Keppel DC Reit posts 13.2% rise in H2 DPU to S$0.04902
The manager of Keppel DC Reit on Friday (Jan 24) posted a distribution per unit (DPU) of S$0.04902 for the second-half ended December, up 13.2 per cent from S$0.04332 in the previous corresponding period.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-posts-13-2-rise-h2-dpu-s0-04902
https://www.zaobao.com.sg/realtime/singapore/story20250124-5782240
MPACT Q3 DPU falls 9.1% to S$0.02 amid global headwinds
Mapletree Pan Asia Commercial Trust’s (MPACT) distribution per unit (DPU) fell 9.1 per cent to S$0.02 for its third quarter ended Dec 31, 2024, from S$0.022 in the year-ago period.
https://www.zaobao.com.sg/realtime/singapore/story20250123-5780365
OUE Reit’s H2 DPU increases 8.7% to S$0.0113
The distribution per unit (DPU) for OUE Real Estate Investment Trust (Reit) rose 8.7 per cent to S$0.0113 for the second half of its financial year ended Dec 31, 2024, from S$0.0104 in the year-ago period, its manager said in a bourse filing on Thursday (Jan 23).
https://www.businesstimes.com.sg/companies-markets/oue-reits-h2-dpu-increases-8-7-s0-0113
Starhill Global Reit posts 1.1% rise in H1 DPU to S$0.018
Starhill Global Real Estate Investment Trust’s (Reit) distribution per unit (DPU) rose 1.1 per cent to S$0.018 for its first half ended Dec 31, 2024, from S$0.0178 in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/starhill-global-reit-posts-1-1-rise-h1-dpu-s0-018
Suntec Reit’s H2 DPU slides 13.9% to S$0.0315
Suntec Real Estate Investment Trust’s (Suntec Reit) distribution per unit (DPU) slid 13.9 per cent to S$0.0315 for the second half of 2024 ended Dec 31, from S$0.03659 in the corresponding year-ago period.
https://www.businesstimes.com.sg/companies-markets/suntec-reits-h2-dpu-slides-13-9-s0-0315
https://www.zaobao.com.sg/realtime/singapore/story20250123-5780150
Global Economy & Real Estate
Trump urges lower oil prices, interest rate cuts at Davos
Trade wars sparked by Trump tariffs would be ‘catastrophic’: WTO chief
Mortgage rates in US drop for first time in more than a month
https://www.businesstimes.com.sg/property/mortgage-rates-us-drop-first-time-more-month
Single women, rich millennials will fuel luxury real estate this year
CNN eyes 200 job cuts, streaming overhaul
https://www.businesstimes.com.sg/companies-markets/cnn-eyes-200-job-cuts-streaming-overhaul
Vanke in talks to sell logistics firm stake to GIC: source
https://www.zaobao.com.sg/realtime/singapore/story20250123-5781352
Tariffs will leave everyone worse off, Bundesbank chief warns
Hong Kong construction firms’ confidence in short-term survival takes beating
Developers worried over risks in Hong Kong’s Northern Metropolis project
Tech to help Hong Kong ‘save every penny’ on building Northern Metropolis Highway
Mortgage registrations in Hong Kong hit record low in 2024, Centaline says
Hong Kong developer New World claims ‘business as usual’ amid default rumours
Indonesia plans spending cuts worth US$18.84 billion
https://www.businesstimes.com.sg/international/indonesia-plans-spending-cuts-worth-us18-84-billion
BOJ likely to raise rates to highest in 17 years, signal more hikes
Japan’s core inflation accelerates, hits 16-month high in December
Japan cautious on economy as Trump’s policies take centre stage
Japan to tighten investment pre-screening amid security concerns
Tokyo apartment prices drop from record in 2024 as market calms
https://www.businesstimes.com.sg/property/tokyo-apartment-prices-drop-record-2024-market-calms
Malaysia’s key economic hubs Penang, Kulim, Klang Valley poised to see rising activity from Johor-Singapore SEZ
JPMorgan plans major revamp of Manhattan’s Madison Avenue skyscraper
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