Singapore Real Estate / Built Environment
S-Reit DPUs weighed down by higher interest rates in H1, but tide to turn in H2
Higher interest rates and financing costs remained “the biggest villains” for Singapore-listed real estate investment trusts, or S-Reits, weighing down on their distributions in the first half of 2024.
https://www.businesstimes.com.sg/companies-markets/s-reit-dpus-weighed-down-higher-interest-rates-h1-tide-turn-h2
Condo resale volumes surge 32.2% in July; CCR posts biggest price increase at 2.8%
Condo resale volumes surged in July – an increase in sales which analysts attributed to a lower base from the month before due to the school holiday season.
https://www.businesstimes.com.sg/property/condo-resale-volumes-surge-32-2-july-ccr-posts-biggest-price-increase-2-8-srx-99-co
https://www.straitstimes.com/singapore/housing/condo-resale-volumes-surge-322-in-july-ccr-posts-biggest-price-increase-srx-99co
Subdued bidding for housing sites will persist if sales at new condo launches are tepid
Developers have generally been cautious in bidding for housing sites thus far this year. Interest in residential en bloc sites is low and bidding at state land tenders of housing sites is subdued.
https://www.businesstimes.com.sg/opinion-features/subdued-bidding-housing-sites-will-persist-if-sales-new-condo-launches-are-tepid
With rising resale prices, is HDB’s lease buyback scheme a good option for seniors?
Singapore: The Lease Buyback Scheme offered by the Housing and Development Board (HDB) remains relevant even in a buoyant resale market where flat prices have seen steady growth, analysts said.
https://www.channelnewsasia.com/singapore/hdb-lease-buyback-scheme-resale-prices-4560966
Singapore Economy
Singapore and India add semiconductors, air connectivity to high-level ministerial discussions
Advanced manufacturing and semiconductors, as well as aviation and maritime connectivity, are new areas that Singapore and India have added to a high-level platform for discussing ways to enhance bilateral cooperation.
https://www.businesstimes.com.sg/international/global/singapore-and-india-add-semiconductors-air-connectivity-high-level-ministerial-discussions
Singapore’s factory output returns to growth with 1.8% rise in July, as electronics sector improves
Singapore’s factory output grew 1.8 per cent year on year in July, reversing from June’s revised 4.3 per cent decline, going by Economic Development Board (EDB) data on Monday (Aug 26).
https://www.businesstimes.com.sg/singapore/singapores-factory-output-returns-growth-1-8-rise-july-electronics-sector-improves
https://www.straitstimes.com/business/companies-markets/singapore-factory-output-back-to-growth-in-july-with-better-than-expected-18-rise
Business News
NUS and CapitaLand Development to collaborate on urban planning, design research for 3 years
Singapore – A National University of Singapore (NUS) interdisciplinary research centre, NUS Cities, and real estate developer CapitaLand Development (CLD) are set to work together on research and programmes relating to urban planning and design.
https://www.straitstimes.com/singapore/nus-and-capitaland-development-to-collaborate-on-urban-planning-design-research-for-3-years
Chuan Hup Holdings FY2024 earnings down 66.0% y-o-y to US$1.97 mil, mainly due to one-off legal claim
Chuan Hup Holdings has reported earnings of US$1.97 million ($2.56 million) for the FY2024 ended June 30, down 66.0% compared to its earnings of US$5.79 million in the same period last year.
https://www.theedgesingapore.com/capital/results/chuan-hup-holdings-fy2024-earnings-down-660-y-o-y-us197-mil-mainly-due-one-legal
Keppel Infrastructure Trust proposes private placement to raise at least S$200 million
The trustee-manager of Keppel Infrastructure Trust has proposed a private placement to raise gross proceeds of no less than S$200 million at an estimated issue price range of between S$0.426 and S$0.438 per new unit.
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-proposes-private-placement-raise-least-s200-million
Global Economy & Real Estate
WHO seeks US$135 million as it launches global mpox response plan
https://www.businesstimes.com.sg/international/who-seeks-us135-million-it-launches-global-mpox-response-plan
‘Hard to imagine’ no September rate cut: US Fed official
https://www.channelnewsasia.com/world/hard-imagine-no-september-rate-cut-us-fed-official-4569266
With Fed’s shift to job market risks done, policy now has to catch up
https://www.businesstimes.com.sg/international/feds-shift-job-market-risks-done-policy-now-has-catch
Oil prices climb on Mid-East escalation fears and US rate cut expectations
https://www.straitstimes.com/business/oil-prices-climb-on-mideast-escalation-fears-us-rate-cut-expectations
Australian employees now have the right to ignore work emails, calls after hours
https://www.channelnewsasia.com/world/australian-employees-now-have-right-ignore-work-emails-calls-after-hours-4567191
https://www.businesstimes.com.sg/international/australia-gives-millions-workers-right-disconnect
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3276028/australia-has-imposed-right-disconnect-law-workers-should-hong-kong-follow-suit
China economists see weak demand despite expected interest rate cuts
https://www.businesstimes.com.sg/international/china-economists-see-weak-demand-despite-expected-interest-rate-cuts
China’s budget spending drops as land sales see record fall
https://www.businesstimes.com.sg/international/chinas-budget-spending-drops-land-sales-see-record-fall
Hilton to maintain breakneck China expansion pace, targets 100 new hotels per year
https://www.scmp.com/business/china-business/article/3275814/hilton-maintain-breakneck-china-expansion-pace-targets-100-new-hotels-year
German business outlook at lowest since February on weak economy
https://www.businesstimes.com.sg/international/german-business-outlook-lowest-february-weak-economy
https://www.straitstimes.com/business/economy/german-economy-falling-into-crisis-restrains-business-outlook
Germany to donate 100,000 mpox vaccine doses to combat outbreak in Africa
https://www.businesstimes.com.sg/international/germany-donate-100000-mpox-vaccine-doses-combat-outbreak-africa
https://www.channelnewsasia.com/world/germany-donate-mpox-vaccines-africa-4568126
Time to get policy on Hong Kong’s subdivided flats right
https://www.scmp.com/opinion/article/3276023/time-get-policy-hong-kongs-subdivided-flats-right
Hong Kong is poised for 2,800 new flats as developers await rate cuts to unleash inventory
https://www.scmp.com/business/article/3275998/hong-kong-developers-ready-2800-new-flats-await-interest-rate-catalyst-sales
Hongkongers to enjoy 30% discount in subsidised flat sale later this year
https://www.scmp.com/news/hong-kong/society/article/3276006/hongkongers-enjoy-30-discount-subsidised-flat-sale-later-year-source
Hong Kong property leaders support leaving abolished land sale mechanism in the past
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3275956/hong-kong-property-leaders-support-leaving-abolished-land-sale-mechanism-past
Repairs pledged for Hong Kong transitional public housing full of leaking water, mushrooms
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3275991/repairs-pledged-hong-kong-transitional-public-housing-full-leaking-water-mushrooms
Philippines says two new mpox cases are milder variant
https://www.channelnewsasia.com/asia/philippines-new-mpox-cases-milder-variant-clade-2-4567731
More of South-east Asia’s super rich turn to family offices to manage wealth
https://www.straitstimes.com/business/more-of-south-east-asia-s-super-rich-turn-to-family-offices-to-manage-wealth
Pay gap between bosses and ordinary workers widens in Switzerland
https://www.businesstimes.com.sg/international/pay-gap-between-bosses-and-ordinary-workers-widens-switzerland
UK shop prices dip for first time in nearly 3 years: survey
https://www.businesstimes.com.sg/companies-markets/consumer-healthcare/uk-shop-prices-dip-first-time-nearly-3-years-survey
World Bank forecasts Vietnam 2024 GDP growth at 6.1%, warns on bad loans
https://www.businesstimes.com.sg/international/world-bank-forecasts-vietnam-2024-gdp-growth-6-1-warns-bad-loans
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