Singapore Real Estate/Built Environment
MND pares private housing land supply on H2 confirmed list
After seven consecutive increases in land supply for private homes under its confirmed list, the government is trimming supply by 7.3 per cent for the next half-year.
https://www.businesstimes.com.sg/property/mnd-pares-private-housing-land-supply-h2-confirmed-list
https://www.scmp.com/news/asia/southeast-asia/article/3267935/undeterred-cooling-demand-singapore-moves-spur-private-home-building
Chencharu, Lorong Chuan, Marina South among highlights of new state land sites unveiled for sale
Ten new sites are on offer under the Government Land Sales (GLS) programme for residential housing in the second half of 2024. Six are on the confirmed list and four are on the reserve list.
https://www.businesstimes.com.sg/property/chencharu-lorong-chuan-marina-south-among-highlights-new-state-land-sites-unveiled-sale
https://www.straitstimes.com/business/ramp-up-in-private-housing-land-supply-paused-but-more-plum-plots-released
Kallang Way terraced factories to be converted for retail in sale of food manufacturing site
Singapore – Built in the 1980s, a three-storey block of terraced industrial units in Kallang Way is the last of its kind in Singapore, representative of JTC Corporation’s industrial architectural history.
https://www.straitstimes.com/singapore/jtc-launches-first-industrial-sales-site-with-requirement-for-old-building-to-be-reused
https://www.businesstimes.com.sg/companies-markets/reits-property/jtc-launches-site-kallang-way-condition-building-be-retained
FEHT could join hands with tycoon Tanoto family to unlock value for the Reit
Far East Hospitality Trust (FEHT) offers one of the few remaining pure-play Singapore real estate investment trusts (S-Reits), which would appeal to investors averse to risks in overseas property markets.
https://www.businesstimes.com.sg/opinion-features/feht-could-join-hands-tycoon-tanoto-family-unlock-value-reit
Condo resale prices up slightly in May; volumes dip as CCR deals fall
Condominium resale prices continued to rise in May, albeit at a slower pace, while volumes dipped from the previous month.
https://www.businesstimes.com.sg/property/condo-resale-prices-slightly-may-volumes-dip-ccr-deals-fall-srx-99-co
https://www.straitstimes.com/business/condo-resale-prices-up-slightly-in-may-volumes-dip-as-ccr-deals-fall-srx-99co
Singapore Economy
Real wage growth unchanged at 0.4% in 2023; fewer firms gave salary bumps: MOM
Real wage growth in Singapore grew by 0.4 per cent in 2023, unchanged from the year-ago figure, data from the Ministry of Manpower (MOM) showed on Tuesday (Jun 25).
https://www.businesstimes.com.sg/singapore/economy-policy/real-wage-growth-unchanged-0-4-2023-fewer-firms-gave-salary-bumps-mom
https://www.straitstimes.com/singapore/jobs/wages-grew-slower-in-2023-than-in-2022-slightly-higher-share-of-firms-cut-wages-mom-report
https://www.todayonline.com/news/real-wages-singapore-grew-04-2023-similar-2022-2447516
https://www.channelnewsasia.com/singapore/real-wage-salary-increase-inflation-2023-similar-2022-4434071
Singaporean households can now redeem S$300 CDC vouchers
Every Singaporean household can now claim S$300 in Community Development Council (CDC) vouchers for their daily expenses. They can be claimed online at go.gov.sg/cdcv, and will be split equally for spending at participating hawkers and heartland merchants, and supermarkets.
https://www.businesstimes.com.sg/singapore/singaporean-households-can-now-redeem-s300-cdc-vouchers
https://www.straitstimes.com/singapore/s-porean-households-can-now-redeem-300-cdc-vouchers
https://www.todayonline.com/news/singaporean-households-can-claim-s300-cdc-vouchers-june-25-2447481
https://www.channelnewsasia.com/singapore/cdc-voucher-june-2024-how-claim-supermarkets-shops-4434366
Business News
City Developments takes out $400 million sustainability-linked loan from DBS
Singapore – City Developments Limited (CDL) has secured a $400 million sustainability-linked loan from DBS Bank to advance nature conservation and sustainable development in Singapore.
https://www.straitstimes.com/business/companies-markets/city-developments-takes-out-400-million-sustainability-linked-loan-from-dbs
https://www.theedgesingapore.com/news/environmental-social-and-governance/cdl-secures-400-mil-sustainability-linked-loan-dbs-tnfd
Keppel Infrastructure Trust unit secures $612.5 million green loan
Singapore – Keppel Infrastructure Fund Management said a subsidiary of Keppel Infrastructure Trust has obtained a sustainability-linked loan of $612.5 million, and the proceeds will be used to refinance a loan.
https://www.straitstimes.com/business/keppel-infrastructure-trust-unit-secures-6125-million-green-loan
Global Economy & Real Estate
Global 2% wealth levy a starting point for taxing super-rich, says proposal author
https://www.businesstimes.com.sg/international/global/global-2-wealth-levy-starting-point-taxing-super-rich-says-proposal-author
US consumer confidence ebbs slightly in June
https://www.businesstimes.com.sg/international/us-consumer-confidence-ebbs-slightly-june
US house prices increase steadily in April
https://www.businesstimes.com.sg/property/us-house-prices-increase-steadily-april
Unfinished Chinese skyscraper in Los Angeles put up for sale after being abandoned for years
https://www.channelnewsasia.com/world/oceanwide-plaza-chinese-real-estate-unfinished-los-angeles-graffiti-art-sale-skyscraper-property-crisis-4434741
Australia’s central bank says policy is restrictive, causing households pain
https://www.businesstimes.com.sg/companies-markets/banking-finance/australias-central-bank-says-policy-restrictive-causing-households-pain
Economists raise China growth forecasts as exports improve
https://www.businesstimes.com.sg/international/economists-raise-china-growth-forecasts-exports-improve
https://www.straitstimes.com/business/economists-raise-china-growth-forecasts-as-exports-improve
A US$100 billion bet on China’s economy sours as warehouses empty
https://www.businesstimes.com.sg/international/global/us100-billion-bet-chinas-economy-sours-warehouses-empty
China’s rich spend millions on Shanghai property, bucking crisis
https://www.businesstimes.com.sg/property/chinas-rich-spend-millions-shanghai-property-bucking-crisis
https://www.straitstimes.com/business/property/china-s-rich-spend-millions-on-shanghai-property-bucking-crisis
Hong Kong leader John Lee to ‘fully pursue’ economic growth, progress on livelihood issues
https://www.scmp.com/news/hong-kong/politics/article/3267937/hong-kong-leader-john-lee-fully-pursue-economic-growth-progress-livelihood-issues
Irish housing crisis turns employers into reluctant realtors
https://www.businesstimes.com.sg/property/irish-housing-crisis-turns-employers-reluctant-realtors
Malaysia inflation up 2% in May, highest in eight months
https://www.straitstimes.com/business/economy/malaysia-inflation-up-2-in-may-highest-in-eight-months
Thailand agrees to waive fees for hotels for 2 more years
https://www.businesstimes.com.sg/international/thailand-agrees-waive-fees-hotels-2-more-years
UK Labour to seek economic growth of at least 2.5%, Keir Starmer says
https://www.businesstimes.com.sg/international/uk-labour-seek-economic-growth-least-2-5-keir-starmer-says
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.