Singapore Real Estate / Built Environment
Singapore prime office vacancies jump to highest since 2022
Singapore’s prime office market is showing signs of softening as an increase in new space push vacancies to the highest level in over two years, while a jump in rents runs out of steam.
https://www.businesstimes.com.sg/property/singapore-prime-office-vacancies-jump-highest-2022
https://www.straitstimes.com/business/singapore-prime-office-vacancies-climb-to-highest-since-2022-though-rents-hold-up
From a property perspective, many good reasons to marry young
Singapore needs more babies as population growth helps to grow and create a vibrant economy. To help support parenthood, Prime Minister Lawrence Wong announced at the National Day Rally in August that, among other measures, employers will be mandated to double paternity leave from two weeks to four weeks from Apr 1, 2025, and parents of newborn babies will soon get 10 weeks of additional shared government-funded leave.
https://www.businesstimes.com.sg/opinion-features/property-perspective-many-good-reasons-marry-young
Singapore Economy
Singapore’s greatest source of alpha is its reputation for trust, integrity and reliability: PM Wong
As a small economy, Singapore will have to find its own path forward in a new environment where there are many “dark clouds” over the horizon, said Prime Minister Lawrence Wong at an event on Monday (Sep 23) night.
https://www.businesstimes.com.sg/singapore/economy-policy/singapores-greatest-source-alpha-its-reputation-trust-integrity-and-reliability-pm-wong
https://www.straitstimes.com/business/companies-markets/temasek-s-achievements-over-50-years-mirror-singapore-s-success-pm-wong
https://www.channelnewsasia.com/business/pm-lawrence-wong-temasek-50th-anniversary-4625266
https://www.zaobao.com.sg/news/singapore/story20240924-4819282
Singapore inflation rises more than expected in August; core at 2.7%, headline at 2.2%
Despite inflation rising at a faster-than-expected pace in August, private-sector economists are not expecting the Monetary Authority of Singapore (MAS) to adjust policy settings at the next meeting in October.
https://www.businesstimes.com.sg/singapore/singapore-inflation-rises-more-expected-august-core-2-7-headline-2-2
https://www.straitstimes.com/business/singapore-core-inflation-rises-to-27-in-august
https://www.channelnewsasia.com/singapore/core-inflation-august-rise-services-first-increase-february-4625106
New office to help SMEs navigate, provide feedback on regulations
Small and medium-sized enterprises (SMEs) can soon tap into a new office for support in navigating whole-of-government rules and regulations, especially for nascent or cross-cutting issues. The new SME Pro-Enterprise Office (PEO), established under Enterprise Singapore (EnterpriseSG), is expected to launch in the first quarter of 2025.
https://www.businesstimes.com.sg/singapore/new-office-help-smes-navigate-provide-feedback-regulations
https://www.straitstimes.com/business/new-office-set-up-to-streamline-approval-processes-cut-red-tape-for-s-pore-smes
Business News
Accor partners Fragrance Group and Global Premium Hotels to open three new Singapore properties
Global hospitality player Accor has inked an agreement with Fragrance Group and Global Premium Hotels to open two new-build properties that will house three hotels. All three hotels will be open by 2027.
https://www.edgeprop.sg/property-news/accor-partners-fragrance-group-and-global-premium-hotels-open-three-new-singapore-properties
DPM Gan Kim Yong appointed director of GIC board
Deputy Prime Minister (DPM) Gan Kim Yong has been appointed director of the GIC board and will begin his role on Oct 1, said the sovereign wealth fund on Tuesday (Sep 24).
https://www.businesstimes.com.sg/singapore/dpm-gan-kim-yong-appointed-director-gic-board
Temasek to provide S$100m in concessional capital to support climate action
Singapore: Temasek will set aside S$100 million (US$77.5 million) as concessional capital to support climate action initiatives, announced chairman Lim Boon Heng on Monday (Sep 23).https://www.channelnewsasia.com/business/temasek-s100-million-concessional-capital-support-climate-action-50th-anniversary-book-4624991
Global Economy & Real Estate
Fed officials leave door open to another large interest-rate cut
https://www.businesstimes.com.sg/international/fed-officials-leave-door-open-another-large-interest-rate-cut
https://www.straitstimes.com/business/fed-officials-leave-door-open-to-another-large-rate-cut
https://www.bloomberg.com/news/articles/2024-09-23/fed-officials-leave-door-open-to-another-large-interest-rate-cut
US business activity steady in September; price pressures pick up
https://www.businesstimes.com.sg/international/us-business-activity-steady-september-price-pressures-pick
Canadians most hopeful about economy since May 2022 as inflation ebbs
https://www.businesstimes.com.sg/international/canadians-most-hopeful-about-economy-may-2022-inflation-ebbs
Economists urge China to ramp up housing rescue to propel growth
https://www.businesstimes.com.sg/property/economists-urge-china-ramp-housing-rescue-propel-growth
China stimulus hopes rise as PBOC cuts rate, plans briefing
https://www.businesstimes.com.sg/companies-markets/banking-finance/china-stimulus-hopes-rise-pboc-cuts-rate-plans-briefing
https://www.straitstimes.com/business/china-stimulus-hopes-rise-as-central-bank-cuts-rate-plans-briefing
Eurozone business activity unexpectedly contracts in September, PMI shows
https://www.businesstimes.com.sg/international/eurozone-business-activity-unexpectedly-contracts-september-pmi-shows
German 10-year yield rises above two-year debt for first time since 2022
https://www.businesstimes.com.sg/international/german-10-year-yield-rises-above-two-year-debt-first-time-2022
German business activity sinks deeper into contraction in September, PMI shows
https://www.businesstimes.com.sg/international/german-business-activity-sinks-deeper-contraction-september-pmi-shows
Hong Kong weekend home sales fall to eight-week low despite rate cut
https://www.businesstimes.com.sg/property/hong-kong-weekend-home-sales-fall-eight-week-low-despite-rate-cut
Hong Kong boasts more fresh talent than Singapore in 5 industries, global survey finds
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3279650/hong-kong-boasts-more-fresh-talent-singapore-5-industries-global-survey-finds
Indonesia’s Jan-Aug budget deficit at 0.68% of GDP, finmin says
https://www.businesstimes.com.sg/international/asean/indonesias-jan-aug-budget-deficit-0-68-gdp-finmin-says
Japan bank stung by US Fed hikes plots return to government bonds
https://www.businesstimes.com.sg/companies-markets/banking-finance/japan-bank-stung-us-fed-hikes-plots-return-government-bonds
Japan’s Sept factory activity slips, PMI shows
https://www.straitstimes.com/business/economy/japans-sept-factory-activity-slips-pmi-shows
Malaysia’s August CPI rises 1.9% on-year, slightly lower than forecast
https://www.businesstimes.com.sg/international/asean/malaysias-august-cpi-rises-1-9-year-slightly-lower-forecast
South Korea’s early September exports show growth momentum continuing
https://www.businesstimes.com.sg/international/south-koreas-early-september-exports-show-growth-momentum-continuing1
https://www.straitstimes.com/business/south-korea-s-early-september-exports-show-growth-momentum-continuing
Thailand to postpone Oct 1 minimum wage hike, official says
https://www.businesstimes.com.sg/international/thailand-postpone-oct-1-minimum-wage-hike-official-says
https://www.channelnewsasia.com/asia/thailand-postpone-oct-1-minimum-wage-hike-official-says-4625221
Growth softens across UK businesses in September: PMI
https://www.businesstimes.com.sg/international/growth-softens-across-uk-businesses-september-pmi
UK finance minister says working from home may hurt productivity
https://www.businesstimes.com.sg/international/uk-finance-minister-says-working-home-may-hurt-productivity
UK factory export orders fall at fastest pace since Dec 2020
https://www.businesstimes.com.sg/international/uk-factory-export-orders-fall-fastest-pace-dec-2020
Big UK investors poised to buy the dip in US property
https://www.businesstimes.com.sg/property/big-uk-investors-poised-buy-dip-us-property
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