Singapore Real Estate / Built Environment
Science Park’s first private residential project, LyndenWoods, opens for preview this weekend
Singapore Science Park’s first private residential project, LyndenWoods, will be open for preview from Saturday (June 28). Located at 69 and 71 Science Park Drive, LyndenWoods consists of two 24-storey apartment buildings, with a total of 343 private residential units. It is a five-minute walk from Kent Ridge MRT station.
https://www.zaobao.com.sg/realtime/singapore/story20250623-6952691
Are mainland Chinese F&B brands in Singapore driving up rents and squeezing out local businesses?
With commercial rental costs in Singapore making headlines and generating animated discussions online, alongside reports of food and beverage shops shuttering, some segments of the public have pointed to businesses of mainland Chinese origin as the culprit.
https://www.channelnewsasia.com/singapore/chinese-fb-retail-rental-costs-5193971
See the positives in having choice HDB resale flats that transact for over a million dollars each
Looking for a five-room Housing & Development Board (HDB) resale flat on a high floor that is under 10 years old in the Queenstown area? You may need to budget about S$1.5 million.
Singapore Economy / News
Singapore, China sign four agreements on talent, knowledge sharing; leaders discuss OTC bond arrangement
Singapore and China on Monday (Jun 23) inked four agreements on cooperation in areas such as training and knowledge exchange, in a ceremony witnessed by Prime Minister Lawrence Wong and Chinese Premier Li Qiang.
https://www.zaobao.com.sg/news/singapore/story20250624-6957246
Middle East conflict could drive up Singapore’s inflation, warn economists, after core inflation dips in May
Singapore’s core inflation dips back to 0.6% in May; headline inflation at 0.8%
Escalating tensions in the Middle East could spark a new wave of inflationary pressures, warned private sector economists, even as Singapore’s authorities kept to their full-year inflation forecast. The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Monday (Jun 23) left their 2025 core inflation forecast of 0.5 to 1.5 per cent unchanged, after May’s inflation readings dipped from the previous month.
https://www.zaobao.com.sg/realtime/singapore/story20250623-6953334
US attack on Iran: Market reaction muted, but brace for more volatility ahead, say analysts
Markets reacted in a more muted manner than expected on Monday (Jun 23) after the US launched strikes against three nuclear facilities in Iran over the weekend. But analysts warned that there could be more volatility ahead as the world awaits Iran’s reaction.
Business News
Lum Chang Creations lodges preliminary document for Catalist IPO
Interior fit-out business Lum Chang Creations has lodged a preliminary prospectus on Monday (Jun 23) for a Catalist listing on the Singapore Exchange.
https://www.zaobao.com.sg/realtime/singapore/story20250623-6956837
OCBC says ‘no intention’ to convert Great Eastern Class C non-voting shares to ordinary shares in five years
OCBC said it has “no intention” to convert its Class C non-voting shares in Great Eastern to ordinary shares when they come up for conversion in five years.
Wing Tai Properties sells entire equity interest in Topworth Enterprises for £43 million
Wing Tai Properties announced on Monday (Jun 23) that its indirect wholly owned Europe subsidiary had sold British Virgin Islands-incorporated Topworth Enterprises for £43 million (S$74.5 million) last Friday after trading hours.
https://www.zaobao.com.sg/realtime/singapore/story20250623-6955120
Other News
11 Singaporeans have left Iran since start of conflict: MFA
A family of three Singaporeans was evacuated from Iran’s capital Tehran with the help of the government of Oman, said the Ministry of Foreign Affairs (MFA) on June 23. They were taken to Muscat in Oman together with a group of Omanis and other nationals.
https://www.straitstimes.com/singapore/11-singaporeans-have-left-iran-since-start-of-conflict-mfa
https://www.zaobao.com.sg/realtime/singapore/story20250623-6953560
Singapore Airlines cancels all flights to Dubai until Wednesday amid Middle East conflict
Singapore Airlines (SIA) has cancelled all flights between Singapore and Dubai until Wednesday (Jun 25) as the conflict between Israel and Iran continues. In a notice on its website, the Singapore carrier announced that the cancellations followed “a security assessment of the geopolitical situation in the Middle East”.
https://www.zaobao.com.sg/realtime/singapore/story20250623-6955278
Attempted misuse of work pass for foreign students or trainees ongoing for years: Industry insiders
Errant employers and agents have for years attempted to illegally bring in foreign workers for rank-and-file roles such as dishwashers under a pass intended for foreigners to undergo short-term professional training here, said industry insiders.
Global Economy / Real Estate News
Trump announces Israel-Iran ceasefire
https://www.businesstimes.com.sg/international/trump-announces-israel-iran-ceasefire
https://www.straitstimes.com/world/middle-east/trump-says-iran-and-israel-agree-to-a-ceasefire
Oil prices plunge as Trump announces ceasefire in the Mideast
US Fed official says open to July interest rate cut
US business activity moderates; price pressures building up
US home resales stay sluggish on affordability constraints
https://www.businesstimes.com.sg/property/us-home-resales-stay-sluggish-affordability-constraints
China asks state-owned developers to avoid public debt defaults
China land sales income hits decade low, widening budget deficit
In China’s first dementia village, residents live with dignity in a safe space
https://www.channelnewsasia.com/asia/china-alzheimers-dementia-care-village-patients-5197706
Eurozone growth stalls in June with sluggish services, manufacturing
Hong Kong to keep expanding land bank, but not to offset deficit: Paul Chan
New law required to cover building repairs in Hong Kong
Hong Kong housing authorities cancel contracts with firm linked to 5 site deaths
Hotel-to-student hostel conversions won’t hurt tourist capacity: Hong Kong official
London’s luxury property downturn looks set to get even worse
https://www.businesstimes.com.sg/property/londons-luxury-property-downturn-looks-set-get-even-worse
Amazon to invest £40 billion in UK over three years: government
Malaysian PM Anwar’s popularity rises even as growth slows
https://www.straitstimes.com/asia/se-asia/malaysian-pm-anwars-popularity-rises-even-as-growth-slows
Malaysia’s KLIA internal train service to resume operations on July 1, hopes to regain lustre
Thailand’s embattled PM reshuffles Cabinet as crisis rages
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