Singapore Real Estate / Built Environment
New flyover connecting Bayshore with ECP to be completed by 2030
Come 2030, residents in Bayshore will be able to use a new vehicular flyover to travel from Bedok South Road to the ECP. The new Bayshore Flyover will serve existing and new developments in Bayshore, Upper East Coast and other areas in the east of Singapore by improving connectivity, the Land Transport Authority (LTA) told The Straits Times on Feb 24.
Property players more optimistic in Q4 but risk of cooling measures looms large: NUS poll
Sentiment among real estate players in Singapore continued to improve in the fourth quarter of 2024, with more new residential projects expected to be pushed out and launch prices seen pitched “moderately higher”, a quarterly poll indicated.
Singapore Economy
MAS could ease policy in April, after Singapore core inflation slowed sharply to 0.8% in January: economists
Some economists expect another easing of Singapore’s monetary policy in April, after core inflation fell sharply to 0.8 per cent in January, according to Department of Statistics data on Monday (Feb 24).
https://www.channelnewsasia.com/singapore/core-inflation-falls-january-2025-mas-mti-4956051
From EVs to concert tickets: 5 ways Singapore’s consumption patterns have changed since 2019
Singapore’s consumer price index (CPI) – by which inflation is measured – has been rebased from a base year of 2019 to 2024, to reflect resident households’ latest consumption patterns and the composition of goods and services consumed.
Business News
DBS expects to shrink contract and temp jobs by 4,000 over next 3 years as AI replaces roles
DBS Group Holdings expects to reduce its contract and temporary staff by around 4,000 over the next three years as artificial intelligence (AI) increasingly takes on roles carried out by human beings, outgoing chief executive officer Piyush Gupta said.
https://www.channelnewsasia.com/business/dbs-set-cut-4000-jobs-over-3-years-due-ai-ceo-says-4956776
ETC, OrangeTee to merge, eyeing regional expansion
Real estate consultancy ETC and property agency OrangeTee Group will merge to form a new entity, the two home-grown companies announced on Monday (Feb 24).
https://www.businesstimes.com.sg/property/etc-orangetee-merge-eyeing-regional-expansion
FCT prices S$80 million green notes due 2032 at 3.3%
Frasers Centrepoint Trust (FCT) is offering S$80 million in fixed-rate green notes due 2032 at 3.3 per cent, its manager said on Monday (Feb 24). They will be issued on Mar 3 under the real estate investment trust’s S$3 billion multicurrency debt issuance programme
https://www.businesstimes.com.sg/property/fct-prices-s80-million-green-notes-due-2032-3-3
PropNex H2 profit down 14.9% at S$21.9 million; proposes special S$0.025 per share anniversary dividend
Real estate agency PropNex reported a 14.9 per cent year-on-year fall in net profit for its second half ended Dec 31 to S$21.9 million, from S$25.8 million. Its revenue was down 7.7 per cent at S$437.4 million from S$473.8 million in the previous corresponding period, based on the company’s financial results released on Tuesday (Feb 25).
Global Economy & Real Estate
Trump U-turn on NYC’s congestion pricing programme could dampen ST Engineering sentiment, but limited impact expected
Trump targets China with biggest salvo so far in second term
https://www.businesstimes.com.sg/international/trump-targets-china-biggest-salvo-so-far-second-term
Trump says Canada, Mexico tariffs moving ‘forward’ on schedule
Hong Kong to tackle deficit, slower economic growth in budget
Hong Kong lawmakers urge faster public project completions by cutting red tape
Hong Kong SMEs want funding support amid mounting costs, survey finds
CK Asset raises prices for Blue Coast II flats amid Hong Kong market optimism
New World, Sun Hung Kai Properties to offer clues amid rising property distress
Japan’s corporate service inflation accelerates to 3.1% year-on-year in January
Starbucks cuts 1,100 corporate jobs in bid to speed turnaround
https://www.straitstimes.com/business/starbucks-cuts-1100-corporate-jobs-to-speed-up-turnaround
South Korea announces online arrival cards for foreign visitors
South Korea’s stimulus plan likely to drive up bond yields
https://www.businesstimes.com.sg/international/south-koreas-stimulus-plan-likely-drive-bond-yields
Thai finance minister sees room for easing ahead of central bank rate review
Thailand’s tourism goal at risk as Japan lures Chinese tourists
UK firms seek fewer staff but offer higher salaries, Adzuna says
Vietnam adds to global steel turmoil with tariffs hitting China
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