Singapore Real Estate
Executive condo sellers in suburbs among top profit gainers in Q2
Executive condominiums (EC) in the suburbs accounted for four of the five most profitable resale deals by percentage gain in the second quarter of 2023, with properties changing hands for almost double their original price.
https://www.businesstimes.com.sg/property/executive-condo-sellers-suburbs-among-top-profit-gainers-q2
Far East Shopping Centre up for collective sale with S$928 million guide price
Far East Shopping Centre is up for en bloc sale with a S$928 million guide price, marketing agent CBRE said on Monday (Jul 24). This translates to a land rate of S$3,421 per square foot per plot ratio, including a land betterment charge based on a maximum building gross floor area (GFA) of 290,574 square feet (sq ft) allowable, if the buyer takes advantage of the Urban Redevelopment Authority’s strategic development incentive (SDI) scheme.
https://www.businesstimes.com.sg/property/far-east-shopping-centre-collective-sale-s928-million-guide-price
https://www.straitstimes.com/business/property/far-east-shopping-centre-up-for-collective-sale-with-928-million-guide-price
https://www.todayonline.com/singapore/far-east-shopping-centre-en-bloc-sale-s928m-2217926
https://www.channelnewsasia.com/singapore/far-east-shopping-centre-en-bloc-collective-sale-orchard-road-cbre-tender-3650651
https://www.edgeprop.sg/property-news/far-east-shopping-centre%E2%80%99s-debut-collective-sale-928-mil
Singapore Economy
Singapore, Hong Kong reaffirm close and longstanding relations
Singapore: Singapore’s Prime Minister Lee Hsien Loong and Hong Kong’s Chief Executive John Lee on Monday (Jul 24) reaffirmed the two cities’ “close and longstanding” relations. Mr Lee arrived in Singapore on Sunday for his first visit since becoming the territory’s new leader just over a year ago.
https://www.channelnewsasia.com/singapore/singapore-hong-kong-john-lee-reaffirm-close-and-longstanding-relations-3650216
https://www.straitstimes.com/asia/east-asia/hong-kong-leader-makes-first-visit-to-s-pore-discusses-ways-to-deepen-bilateral-relations-with-pm-lee
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3228707/hong-kong-singapore-should-step-post-pandemic-ties-leader-city-state-tells-john-lee-first-stop-chief
Singapore’s headline, core inflation ease further in June
Singapore’s headline and core inflation continued their downward trends in June, easing to multi-month lows, a likely sign that inflation has already passed its peak, said private-sector economists.
https://www.businesstimes.com.sg/singapore/singapores-headline-core-inflation-ease-further-june
https://www.straitstimes.com/business/singapore-core-and-overall-inflation-ease-for-second-straight-month
https://www.todayonline.com/singapore/singapores-core-inflation-falls-42-june-2217626
https://www.channelnewsasia.com/singapore/core-inflation-singapore-june-downwards-trend-3649806
https://www.theedgesingapore.com/news/singapore-economy/singapores-headline-inflation-down-45-core-inflation-down-42-june
Companies’ Brief
BlackRock names heads of wealth for Singapore, Greater China
Fund manager BlackRock on Monday (Jul 24) announced two appointments to head its Greater China and Singapore wealth teams. Dennis Quah joins as the Singapore Wealth head with effect from Monday.
https://www.businesstimes.com.sg/companies-markets/blackrock-names-heads-wealth-singapore-greater-china
Keppel DC Reit H1 2023 DPU inches up 0.04% to S$0.05051
Keppel Data Centre (DC) Reit posted a 0.04 per cent increase in distribution per unit (DPU) to S$0.05051 for the first half of the 2023 financial year ended Jun 30. The figure was S$0.05049 in the corresponding period a year ago.
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reit-h1-2023-dpu-inches-004-s005051
https://www.theedgesingapore.com/capital/results/keppel-dc-reit-reports-stable-1hfy2023-dpu-5051-cents
Views, Reviews Forum and Others
Migrant worker groups urge Government for timeline to stop transporting workers in lorries
Singapore – More than 40 organisations and individuals, including migrant worker welfare groups, are asking the Government for a timeline to ban the use of lorries for ferrying workers and to make it compulsory for vehicles transporting people to have passenger seats and seat belts.
https://www.straitstimes.com/singapore/migrant-worker-groups-urge-government-for-timeline-to-stop-transporting-workers-in-lorries
https://www.channelnewsasia.com/singapore/migrant-workers-lorries-safety-transport-accidents-3649826
China to resume 15-day visa-free entry for Singaporeans from Jul 26
The Chinese government will resume a 15-day, visa-free facility for Singaporeans travelling to China from midnight on Wednesday (Jul 26), more than three years after it was suspended.
https://www.businesstimes.com.sg/singapore/china-resume-15-day-visa-free-entry-singaporeans-jul-26
https://www.straitstimes.com/singapore/china-to-resume-15-day-visa-free-entry-for-singaporeans-from-july-26
https://www.todayonline.com/singapore/china-resume-15-day-visa-free-entry-singapore-brunei-citizens-2217176
https://www.channelnewsasia.com/asia/china-visa-free-resume-singapore-citizens-3648256
Global Economy & Real Estate
US business activity growth slows as services soften
https://www.businesstimes.com.sg/international/us-business-activity-growth-slows-services-soften
Australia’s budget surplus set to be nearly five times higher than forecast
https://www.businesstimes.com.sg/international/australias-budget-surplus-set-be-nearly-five-times-higher-forecast
China’s economy facing ‘new difficulties’ as post-Covid recovery loses steam: Top leaders
https://www.straitstimes.com/asia/east-asia/top-chinese-leaders-say-economy-facing-new-difficulties-as-post-covid-recovery-loses-steam
China to step up policy adjustments, focus on demand: Politburo
https://www.businesstimes.com.sg/international/china-step-policy-adjustments-focus-demand-politburo
https://www.theedgesingapore.com/news/china-focus/xis-slogan-housing-living-not-speculation-omitted-politburo-statement
https://www.scmp.com/economy/china-economy/article/3228767/china-property-speculating-xis-politburo-lets-real-estat-leash-after-6-long-years
China seeks private investors for 3.2 trillion yuan of projects
https://www.businesstimes.com.sg/international/china-seeks-private-investors-32-trillion-yuan-projects
https://www.straitstimes.com/business/chinas-state-planner-unveils-steps-to-spur-private-investment
https://www.scmp.com/economy/china-economy/article/3228761/chinas-economic-chiefs-open-new-doors-private-investors-bring-sector-back-life
JPMorgan sees 35% downside for China’s top builder as woes mount
https://www.businesstimes.com.sg/property/jpmorgan-sees-35-downside-chinas-top-builder-woes-mount
China property giants tumble as cash crunch bites
https://www.channelnewsasia.com/business/china-property-giants-tumble-cash-crunch-bites-3649566
Eurozone economic downturn steepens in July
https://www.businesstimes.com.sg/international/eurozone-economic-downturn-steepens-july
Hong Kong’s grade-A office market recovery falters on economy woes, but hopes pinned on demand from expanding insurance sector
https://www.scmp.com/business/article/3228515/hong-kongs-grade-office-market-recovery-falters-economy-woes-hopes-pinned-demand-expanding-insurance
Town Planning Board backs public housing plan at Hong Kong Golf Club, despite launch of legal action to block development
https://www.scmp.com/news/hong-kong/law-and-crime/article/3228728/hong-kong-golf-club-housing-plan-approval-puts-puts-huge-northern-metropolis-project-risk-court-told
Billionaire family courts world’s rich on contrarian office bet
https://www.businesstimes.com.sg/property/billionaire-family-courts-worlds-rich-contrarian-office-bet
Bank of Japan mulls sharp increase in 2023 inflation outlook
https://www.businesstimes.com.sg/international/bank-japan-mulls-sharp-increase-2023-inflation-outlook
Malaysia’s inflation eases to 2.4% in June; core inflation moderates to 3.1%
https://www.businesstimes.com.sg/international/asean/malaysias-inflation-eases-24-june-core-inflation-moderates-31
South Korea’s economic growth ticks up in second quarter
https://www.businesstimes.com.sg/international/south-koreas-economic-growth-ticks-second-quarter
https://www.channelnewsasia.com/business/south-koreas-economic-growth-ticks-second-quarter-3651676
UK private-sector output grows at slowest pace in six months
https://www.businesstimes.com.sg/international/uk-private-sector-output-grows-slowest-pace-six-months
UK homebuilders under pressure as lofty mortgages deter first-time buyers
https://www.businesstimes.com.sg/property/uk-homebuilders-under-pressure-lofty-mortgages-deter-first-time-buyers
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