The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 27 Jan 2023 (Fri)

Singapore Real Estate


Digital portal for property conveyancing expected to be completed in 2026
Singapore – An online portal that will cut the red tape in transferring property titles from one person to another is expected to be completed in 2026. The Digital Conveyancing Portal was announced by Minister for Culture, Community and Youth, and Second Minister for Law Edwin Tong in 2021.


Industrial space rents up 2.1%, prices climb 1.7% in Q4: JTC
Rents and prices of Singapore industrial developments rose for the ninth straight quarter in the fourth quarter of 2022, amid growing inflationary pressures, according to JTC’s market report released on Thursday (Jan 26).



Singapore Economy


Strong demand for tech talent in Singapore despite global Big Tech layoffs: Josephine Teo
Demand for tech talent in Singapore is still strong despite global layoffs by tech giants, while both Singaporeans and the government remain keen on opportunities in tech, said Minister for Communications and Information Josephine Teo at the launch of a tech talent training programme on Thursday (Jan 26).


Singapore Q1 manufacturing outlook gloomy; electronics rebound likely temporary, say analysts
Singapore’s manufacturing outlook in the first quarter is likely to remain gloomy, after factory output in December shrank for the third straight month, economists said. “Expect industrial production to stay in the doldrums in Q1 2023, notwithstanding China’s earlier-than-expected reopening, especially with the ongoing post-exit Covid-19 surge…



Companies’ Brief


FCT, Frasers Property team up to acquire 50% stake in Nex
The manager of Frasers Centrepoint Trust (FCT) and sponsor Frasers Property Limited (FPL) announced on Thursday (Jan 26) the joint acquisition of a 50 per cent stake in suburban mall Nex for S$652.5 million.


Frasers Centrepoint Trust reports improved committed occupancy in business update
Frasers Centrepoint Trust reported all round better performance for its malls. The portfolio’s committed occupancy improved 0.9%-pt q-o-q and 1.2%-pt y-o-y to 98.4% as leasing demand remains firm, FCT’s manager said.


Mapletree Industrial Trust posts 2.9% fall in Q3 DPU to 3.39 Singapore cents
Mapletree Industrial Trust’s (MIT) distribution per unit (DPU) dropped by 2.9 per cent to 3.39 Singapore cents for its third quarter of FY2022/2023 ended Dec 31, 2022, from 3.49 Singapore cents in the corresponding year-ago period.


Brokers’ take: DBS upgrades Paragon Reit to ‘buy’ as China’s borders reopen
DBS Group Research has upgraded Paragon Real Estate Investment Trust (Reit) from “hold” to “buy” as it expects the Reit to be a prime beneficiary of China’s reopening, as well as a key proxy to Orchard Road’s recovery.



Global Economy & Real Estate


Global 2023 economic view downgraded, at odds with market optimism: poll


US economy showed momentum at year’s end – so will it escape a recession?


US growth slows in 2022 as downturn fears loom


US new home sales post third straight monthly gain


US apartment rents rise at slowest annual pace since mid-2021


US economy grows strongly in fourth quarter; weekly jobless claims fall


Bank of Canada’s surprise on interest rates is test of soft-landing bets


Rents in Canada grow at record pace as housing shortage stings


UK commercial property extends downturn as investors retreat: survey


UK retail sales volumes slide at fastest rate since April


Sweden’s housing rout persists as Riksbank keeps raising rates


China’s luxury shoppers free to travel, but many buy locally


IMF urges Japan to meet spending rise with higher revenue


Japan needs 3% wage growth for inflation goal, IMF Gopinath says


Borrowing to drive Japan’s debt over 1,100 trillion yen for first time


South Korean manufacturers’ business sentiment drops to weakest in over 2 years


South Korea tech industry’s confidence sours to seven-year low


Malaysia PM Anwar’s official visit to Singapore may bring several pressing issues to the fore



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.


Scroll to Top