Singapore Real Estate
Japan’s popular thrift retailer 2nd Street to open first Singapore outlet at 313@somerset in April
Japan’s well-known reuse shop 2nd Street is set to open its first outlet in Singapore at 313@somerset in end-April, with over 22,000 curated thrift pieces from Japan.
Executive condos still desirable despite rising prices: NUS survey
Around four in five property players believe that executive condominiums (ECs) remain relevant and desirable despite growing prices, a survey conducted by the National University of Singapore’s Institute of Real Estate and Urban Studies (Ireus) found. This is mainly due to ECs’ potential for capital gain and initial affordability, said Sing Tien Foo, the provost’s chair professor of real estate at NUS Business School.
More HDB flat upgraders made the leap to private housing in 2024
More Housing and Development Board (HDB) flat upgraders made the switch to private housing in 2024 as mortgage rates moderated and resale flat prices grew at a much faster pace than that of private homes.
https://www.businesstimes.com.sg/property/more-hdb-flat-upgraders-made-leap-private-housing-2024
Singapore Economy/News
Budget 2025: Worth keeping the bigger fiscal picture in mind
The debate on Singapore’s Budget begins today (Feb 26), with Members of Parliament (MPs) sharing their views on what was announced in last Tuesday’s speech and what more can be done. Even as they scrutinise specific policies, however, it is worth keeping broader issues in mind.
Why vouchers instead of cash: PM Wong answers burning questions on Budget 2025
If budget 2025 is seen as generous, that is only because the government has managed its finances responsibly and well, Prime Minister Lawrence Wong said on Tuesday (Feb 25). In a short clip uploaded to his social media accounts, PM Wong answered four questions that he had received since delivering the Budget statement on Feb 18.
IMDA launches guidelines for cloud services and data centres ahead of Digital Infrastructure Act
Two new sets of advisory guidelines to boost resilience and security for cloud service providers (CSPs) and data centre operators were launched on Tuesday (Feb 25) by the Infocomm Media Development Authority (IMDA).
https://www.zaobao.com.sg/news/singapore/story20250225-5930061
Business News
CDL calls for trading halt as it cancels results briefing
City Developments Limited announced on Wednesday (Feb 26) morning that it is cancelling its results briefing that was scheduled to be held on the same day, pending announcements.
https://www.straitstimes.com/business/cdl-calls-for-trading-halt-cancels-results-briefing
DBS flags 13,000 employees for upskilling, reskilling amid job cuts
DBS has identified 13,000 employees that require upskilling or reskilling, in order to enable them to be future-ready, it said on Tuesday (Feb 25). To date, more than 10,000 staff have commenced their respective learning road maps, which include skills related to artificial intelligence (AI) and data, said the bank.
Singapore’s Mapletree wins land tender, adds Tsing Yi logistics site to Hong Kong assets
Hong Kong has awarded Singapore’s Mapletree Investments a 50-year land grant to a parcel of land in the New Territories for about HK$3.68 billion (US$473 million), according to the Lands Department on Tuesday.
SingLand H2 net profit rises 76% to S$180.5 million on higher revenue from hotel ops
Singapore Land Group (SingLand) reported a net profit of S$180.5 million in the second half ended Dec 31, up 76 per cent from S$102.4 million in the year ago period. Revenue rose 9 per cent to S$390.5 million in H2 from S$358.7 million in the year before.
Global Economy & Real Estate
US consumer confidence drops by most since 2021 on outlook
https://www.businesstimes.com.sg/international/us-consumer-confidence-drops-most-2021-outlook
Trump to probe copper tariffs, opening door to new levy on metal
Trump’s chip tariff threats raise stakes for Taiwan
https://www.businesstimes.com.sg/international/trumps-chip-tariff-threats-raise-stakes-taiwan
China aims to eliminate severe air pollution this year
China must cut 15% of steel capacity to meet 2025 climate goals
China raises scrutiny of outflows via Hong Kong listings, foreign deals
China Evergrande’s EV unit to sell 20% stake in Swedish firm for tax needs
Don’t expect quick fixes from Hong Kong’s budget, economists say
Economists expect prudent Hong Kong budget as city looks to tackle deficit
https://www.channelnewsasia.com/east-asia/hong-kong-budget-preview-tackle-deficit-economists-4958606
Law firm HFW expands Hong Kong office to Hongkong Land’s tower
Investors to redevelop Hong Kong’s Kitec site into office, flats and hotel blocks
Bank of Korea resumes rate cuts as economic risks grow
https://www.channelnewsasia.com/east-asia/bank-korea-resumes-rate-cuts-economic-risks-grow-4958021
Malaysia sees record RM378.5 billion of approved investments in 2024
Forest City could become cheaper, secondary family office hub to complement Singapore
UK’s Starmer boosts defence spending on eve of Washington trip
Vietnam’s US exports account for 30% of GDP, making it highly vulnerable to tariffs
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.