Singapore Real Estate / Built Environment
Service-apartment operator charged over letting out private homes for short-term rental
Local accommodation-service provider International Service Apartments (ISA) and three of its senior management staff were charged in court on Tuesday (Mar 25) over illegally providing short-term accommodation in private residential properties. The Urban Redevelopment Authority (URA) said in a statement that it laid before the company nine charges of the unauthorised development of the private residential properties.
Kingsford to start previews for One Marina Gardens at average price of S$2,850 to S$2,900 psf
Kingsford Group will start previews for its Marina South mega project One Marina Gardens on Saturday (Mar 29), with prices starting at S$1.16 million for one-bedroom units. The large development comprises 937 units across two blocks, and a commercial space including two restaurant units, two shop units and a childcare centre on the ground floor. The two residential blocks will have 30 and 44 floors, respectively.
Trading firm tied to China’s fallen copper king sells Singapore office at 20 Collyer Quay
A Singapore-based commodities trading firm linked to troubled Chinese copper tycoon Wang Wenyin has sold the top three floors of a prime office building in the Central Business District for $91.8 million, according to property transaction documents.
Public Bank’s Teh family scion identified as buyer in record S$94m Tanglin GCB deal
A Singapore luxury mansion has been purchased at a record price per square foot by a scion of the family which backs one of Malaysia’s largest banks. The S$93.9 million purchase of a so-called Good Class Bungalow (GCB) under construction in the city-state’s Tanglin Hill area was completed last month…
Singapore News
Singapore-Vietnam ties will strengthen, with deeper cooperation and like-minded partners: PM Wong
With recently elevated relations, strong people-to-people ties and like-minded leaders, Singapore and Vietnam’s relationship will continue to grow from strength to strength, Singapore Prime Minister Lawrence Wong said on Tuesday (Mar 25), the first day of his two-day introductory visit to the Vietnamese capital.
https://www.channelnewsasia.com/singapore/singapore-vietnam-hanoi-lawrence-wong-partnership-5022946
https://www.zaobao.com.sg/news/singapore/story20250325-6067489
Two veteran public servants to retire; new permanent secretary for finance from May 1
Two senior public servants are set to retire in the next two months, and changes in the appointments of three permanent secretaries will take effect on May 1. Mrs Tan Ching Yee will step down as permanent secretary for finance and retire on May 1, after 38 years in the public service, the Public Service Division (PSD) said in a statement on March 25.
https://www.zaobao.com.sg/news/singapore/story20250325-6069784
Business News
Filmgarde Cineplexes shuts down last outlet at Kallang, exits industry
Home-grown independent cinema Filmgarde Cineplexes has shut down its last remaining outlet at Leisure Park Kallang, marking its official exit from the cinema business here. Filmgarde announced the closure on Instagram on Mar 25.
OUE partners Tokyo Century to develop new hotel at Changi Airport’s T2
Property developer OUE has formed a joint venture (JV) with Japanese non-banking financial services company Tokyo Century to develop the new 255-key hotel located at Changi Airport’s Terminal 2 (T2).
Schneider Electric to invest over US$700 million in US to power AI boom
Schneider Electric said on Tuesday (Mar 25) it plans to invest over US$700 million in its US operations over the next two years amid tariff threats that could affect the French electrical equipment maker.
Global Economy & Real Estate
US consumer confidence tumbles again to lowest since early 2021
US fiscal strength on course for continued decline: Moody’s
https://www.businesstimes.com.sg/international/us-fiscal-strength-course-continued-decline-moodys
Dell’s workforce drops 10% in fiscal 2025
https://www.channelnewsasia.com/business/dells-workforce-drops-10-fiscal-2025-5023846
Hongkongers’ Shenzhen shopping sprees abate, in relief for retail owners, UBS and JLL say
Hong Kong Sevens already giving hotels, restaurants reason to cheer
Hong Kong’s public housing is for those most in need
https://www.scmp.com/opinion/article/3303874/hong-kongs-public-housing-those-most-need
Japan’s Nomura Real Estate strikes deal with L&G to enter UK housing market
Japan’s corporate service inflation hits 3.0%, keeps BOJ rate hike bets alive
UK set to detail plans to fix public finances
https://www.businesstimes.com.sg/international/uk-set-detail-plans-fix-public-finances
Vietnam is the fastest growing tourism destination in South-east Asia
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