The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 24 Mar 2023 (Fri)

Singapore Real Estate


TE Capital Partners and LaSalle Investment officially launch strata offices at Solitaire on Cecil
Solitaire Cecil, the joint venture held by funds managed by TE Capital Partners and LaSalle Investment Management, officially launched the freehold, Grade-A office development Solitaire on Cecil for sale. TE Capital is also the development partner of the project.


Commercial building on Hongkong Street for sale at $24 mil
A new commercial building located at 36 Hongkong Street is up for sale through an expression of interest exercise with a guide price of $24 million. The five-storey property was completed in 2021 and has a balance land tenure of 95 years on the 99-year lease, according to marketing agent CBRE.


Freehold semi-detached house on Goodman Road on the market for $9.2 mil
A freehold semi-detached house at 30 Goodman Road, off Tanjong Katong Road in District 15, is up for sale via private treaty with a guide price of $9.2 million. The house occupies a land area of about 4,271 sq ft, which means the price works out to $2,154 psf.



Singapore Economy


Dial-back in headline inflation to 6.3% in February; core holds steady at 5.5%
Singapore’s headline inflation dipped in February, while core inflation was unchanged from the previous month, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Thursday (Mar 23). Both, however, were lower than economist estimates.


Economists split on monetary policy tightening in April after February inflation data
After February inflation data released on Thursday (Mar 23) surprised on the downside, economists are mixed on whether the Monetary Authority of Singapore (MAS) will tighten monetary policy at its meeting in April.


Work ‘still ongoing’ on how to define workplace discrimination in upcoming law: Zaqy
Singapore has yet to decide what might count as workplace discrimination under upcoming laws, with work and discussions still ongoing, said Zaqy Mohamad, Senior Minister of State for Manpower, on Thursday (Mar 23).


EnterpriseSG to launch decarbonisation, sustainable finance courses for businesses
Enterprise Singapore (EnterpriseSG) will launch new courses covering decarbonisation and sustainable finance for businesses starting in April 2023. The courses fall under its Enterprise Sustainability Programme (ESP).


Participation in SkillsFuture Singapore programmes falls in 2022; still higher than 2019
Participation in SkillsFuture Singapore (SSG) programmes fell year on year in 2022, but were still above pre-pandemic highs, said the statutory board on Thursday (Mar 23).



Companies’ Brief


Jason Leow, CEO of CapitaLand Development, steps down
Chief executive officer (CEO) of CapitaLand Development Jason Leow will retire and relinquish his position, said CapitaLand Group in a statement on Thursday (Mar 23).


Mapletree Pan Asia Commercial Trust to issue S$150 million of green notes at 4.25%
The manager of Mapletree Pan Asia Commercial Trust said that the real estate investment trust (Reit) will be issuing S$150 million of senior green notes priced at a fixed rate of 4.25 per cent annually.


UOB chief executive Wee Ee Cheong’s 2022 salary rises 30.2% to S$14.2 million
With its net profit hitting a record high of S$4.6 billion for the financial year ended Dec 31, 2022, the salary of United Overseas Bank’s chief executive officer has also gone up.


Construction deadline for MBS’ S$4.5 billion extension pushed back again to April 2024
Marina Bay Sands (MBS) has been given yet another year to kickstart its S$4.5 billion expansion plan, with this reprieve granted by the Singapore Tourism Board (STB).



Global Economy & Real Estate


New York holds top spot, London and Singapore follow in financial centre survey


US new-home sales unexpectedly rise, showing some stabilisation


US mortgage rates fall for second week, sending 30-year to 6.42%


Europe: Banks drag shares down as central banks join Federal Reserve in raising rates


Australia’s budget to show restraint as global volatility rises


Japan’s consumer inflation off 41-year high but stays above Bank of Japan goal


Unusual 1,058 trillion won loan market magnifies housing risk in South Korea


Asean manufacturing indicators ticking up, with positive implications for SGX-listed players



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