Singapore Real Estate / Built Environment
New play areas, expansion of grocery discount programme unveiled under East Coast Plan
Recreation spaces will be carved out at three areas in East Coast GRC, with construction set to begin in the second half of the year. The constituency’s anchor minister, Deputy Prime Minister Heng Swee Keat, announced this as the latest initiative under the East Coast Plan…
https://www.zaobao.com.sg/realtime/singapore/story20250125-5789602
Site of former golf driving range in Toa Payoh East being prepared for new homes
Singapore – More than a thousand new homes are expected to be built in Toa Payoh East on a site that had housed the first golf driving range to be built in a Housing Board estate.
Some self-storage operators may have to move out of current locations after JTC review on land use
SOME self-storage operators may have to move out of their current locations when their leases run out, following a lengthy review by JTC on the use of industrial land for the self-storage business.
https://www.straitstimes.com/business/self-storage-firms-in-20-areas-can-operate-until-leases-expire
Over 3,000 individuals’ names, NRIC numbers leaked due to CEA’s IT system error
The names and NRIC numbers of more than 3,000 individuals were sent to 18 unintended recipients on Tuesday (Jan 21) due to a “technical issue” in the IT system of the Council for Estate Agencies (CEA).
Singapore Economy
Budget 2025 likely to invest in keeping workforce competitive, attracting talent: observers
As downside economic risks loom, manpower-related moves in Budget 2025 should aim to keep Singapore attractive to foreign talent, while boosting skills and wages of local employees, watchers told The Business Times.
Singapore’s factory output rises 10.6% in December, beats expectations
Singapore’s factory output rose 10.6 per cent year on year in December, with all clusters recording growth, based on data released by the Economic Development Board on Friday (Jan 24).
https://www.straitstimes.com/business/economy/singapore-manufacturing-output-rises-10-6-in-december
https://www.zaobao.com.sg/realtime/singapore/story20250124-5783586
Economists mixed on whether MAS will ease monetary policy again in 2025, after January move
Economists are not ruling out a further easing of monetary policy in Singapore this year, following January’s first loosening move since 2020 – though a common base scenario is for the central bank to stand pat for the rest of 2025.
Business News
CapitaLand Ascott Trust posts 7% fall in H2 DPS to S$0.0355
CapitaLand Ascott Trust on Monday (Jan 27) posted a 7 per cent fall in distribution per stapled security (DPS) to S$0.0355 for the second half (H2) ended Dec 31, 2024, from S$0.038 in the year-ago period.
https://www.zaobao.com.sg/realtime/singapore/story20250127-5794322
CDLHT posts 11.9% fall in H2 DPS to S$0.0281
The managers of CDL Hospitality Trusts on Monday (Jan 27) posted a distribution per stapled security (DPS) of S$0.0281 for the second half ended December, down 11.9 per cent from S$0.0319 in the previous corresponding period.
https://www.businesstimes.com.sg/companies-markets/cdlht-posts-11-9-fall-h2-dps-s0-0281
https://www.straitstimes.com/business/companies-markets/cdlht-posts-11-9-fall-in-second-half-dps
Far East Orchard unit acquires additional stake in Woodlands Square for S$25 million
A unit of Far East Orchard (FEO) has acquired an additional stake in its commercial property in Woodlands for S$25 million. Woods Square, an integrated commercial development comprising offices and retail spaces, was completed in 2020 and was a joint venture between FEO’s wholly owned subsidiary Tannery, Far East Civil Engineering (FECE), and Sekisui House.
Keppel gets US approval to build SG-US subsea cable amid region’s digital infrastructure push
Keppel has been granted a licence by the US for a subsea cable system connecting Singapore to the US, said the company on Friday (Jan 24).
https://www.zaobao.com.sg/realtime/singapore/story20250124-5782258
Global Economy & Real Estate
Global growth driven by strong US economy expected in 2025: WEF panel
https://www.straitstimes.com/business/global-growth-driven-by-strong-us-economy-expected-in-2025
US Fed prepares to pause in first interest rate decision since Trump’s inauguration
WHO freezes hiring and cuts costs after Trump signals US exit
US business activity moderates as growth in services cools
https://www.businesstimes.com.sg/international/us-business-activity-moderates-growth-services-cools
Australian PM pledges cash for construction apprentices ahead of election
China misses fiscal spending target on effects of housing slump
Frankfurt’s skyline darkens as old office buildings sit vacant
https://www.businesstimes.com.sg/property/frankfurts-skyline-darkens-old-office-buildings-sit-vacant
Hong Kong leader vows to tackle housing issues; 2 community spaces to open
Hong Kong races to find its property market bottom
https://www.businesstimes.com.sg/property/hong-kong-races-find-its-property-market-bottom
Hong Kong home prices slip in December, fall 7.1% in 2024
https://www.businesstimes.com.sg/property/hong-kong-home-prices-slip-december-fall-7-1-2024
Hong Kong’s cash-strapped Urban Renewal Authority to adjust pace of projects
Hong Kong minister dispels ‘lying flat’ concerns as youth rental flat applications drop
Hong Kong land sale to fetch around US$76 million amid developer caution
Indonesia central bank has room to cut rates further, governor says
Bank of Japan raises interest rates to highest in 17 years, yen jumps
Bank of Japan may revert to fuzzy communication after Fed-style clarity on rates
UK consumer confidence sinks to lowest for over a year: GfK
https://www.businesstimes.com.sg/international/uk-consumer-confidence-sinks-lowest-over-year-gfk
UK employers target wage bill to offset tax hikes as gloom persists
More job cuts loom after UK firms run down Covid coffers
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