Singapore Real Estate / Built Environment
Plans in the works for new play spaces in the heart of Orchard Road, Marina Bay
Singapore – Two plots of land in the heart of the city can soon become lifestyle destinations, as Singapore’s urban planners look to create more space for recreation and play.
https://www.straitstimes.com/singapore/plans-in-the-works-for-new-play-spaces-in-the-heart-of-orchard-road-marina-bay
Four-storey Bugis shophouse fetches S$42 million, deal brewing for 3 adjoining units
A high-footfall area near Bugis MRT station could get even busier, with a few big-ticket conservation shophouse deals.
https://www.businesstimes.com.sg/property/four-storey-bugis-shophouse-fetches-s42-million-deal-brewing-3-adjoining-units
The Hour Glass acquires two levels of office units in Tong Building for S$68.5 million
Luxury watch retailer The Hour Glass announced on Thursday (Sep 26) that it exercised the options to purchase two levels of office units in Tong Building for S$68.5 million.
https://www.businesstimes.com.sg/property/hour-glass-acquires-two-levels-office-units-tong-building-s68-5-million
Hoping for banks to slash mortgage rates? Don’t hold your breath, analysts say
Mortgage rates in Singapore are likely to fall as the US Federal Reserve has started cutting interest rates. But market watchers do not expect a large decline, given that the local banks have already been adjusting their rates lower for some time now.
https://www.businesstimes.com.sg/companies-markets/hoping-banks-slash-mortgage-rates-dont-hold-your-breath-analysts-say
Nine in 10 senior buyers of two-room flexi flats opt for shorter leases: HDB
Short-lease flats remain popular among senior homebuyers, with nine in 10 taking up the option when purchasing two-room flexi flats, said the Housing and Development Board (HDB) on Friday (Sep 27).
https://www.businesstimes.com.sg/property/nine-10-senior-buyers-two-room-flexi-flats-opt-shorter-leases-hdb
https://www.straitstimes.com/singapore/housing/most-older-buyers-of-two-room-flexi-flats-pick-shorter-lease-of-30-to-45-years-hdb
S$8,000-a-month HDB flat rent ‘mistake’ prompts questions on data integrity
The head-turning rental of S$8,000 a month for a three-room Housing and Development Board (HDB) flat in Bukit Merah turned out to be a “mistake”, and the record in the official database has since been amended to S$900 a month.
https://www.businesstimes.com.sg/property/s8000-month-hdb-flat-rent-mistake-prompts-questions-data-integrity
Singapore Economy
UN cannot allow violations of international law to become normalised, says Vivian Balakrishnan
Singapore – Singapore has called on UN member states to prevent the recent violations of international law from becoming normalised, underscoring the need to transform global governance institutions to make them more representative and responsive.
https://www.straitstimes.com/singapore/un-cannot-allow-violations-of-international-law-to-become-normalised-says-vivian
Singapore businesses doubt recent survey findings on employers’ openness to a four-day work week
A recent survey in which nearly seven in 10 Singapore employers found a four-day work week “feasible” may not accurately reflect ground sentiment, said business leaders.
https://www.businesstimes.com.sg/singapore/singapore-businesses-doubt-recent-survey-findings-employers-openness-four-day-work-week
Business News
Shein’s job cuts in Singapore underscore challenges facing fast-fashion giant
The job cuts by online fast-fashion retailer Shein at its Singapore headquarters reflect how the Chinese-founded company is grappling with a series of challenges in the cross-border e-commerce business.
https://www.scmp.com/tech/big-tech/article/3280198/sheins-job-cuts-singapore-underscore-challenges-facing-fast-fashion-giant
Sheng Siong scoops up DFI’s last two Singapore properties
Supermarket chain Sheng Siong entered into a conditional sale and purchase agreement on Friday (Sep 27) to acquire real estate development company Jelita Property.
https://www.businesstimes.com.sg/companies-markets/sheng-siong-scoops-dfis-last-two-singapore-properties
https://www.straitstimes.com/business/sheng-siong-scoops-up-dfi-s-last-two-singapore-properties
Views, Reviews, Forum and Others
S’poreans in Lebanon should leave immediately amid volatile situation: MFA
Singapore – Singaporeans in Lebanon should leave the country immediately via commercial options, said the Ministry of Foreign Affairs (MFA) in an updated travel advisory on Sept 28.
https://www.straitstimes.com/singapore/s-poreans-in-lebanon-should-leave-immediately-amid-volatile-situation-mfa
https://www.channelnewsasia.com/singapore/singaporeans-lebanon-leave-immediately-mfa-israel-air-strikes-4644361
Construction companies must dig deeper to improve productivity amid rising temperatures
As rising temperatures impede the progress of construction projects in Singapore, companies here can do more to raise worker productivity and must plan better across different silos to ensure that projects are completed in good time, experts say.
https://www.businesstimes.com.sg/companies-markets/construction-companies-must-dig-deeper-improve-productivity-amid-rising-temperatures
Train service between Jurong East, Buona Vista expected to restart only on Oct 1
Train services between Jurong East and Buona Vista MRT stations on the East-West Line will remain disrupted on Sep 30, after 12 new cracks were discovered along a stretch of rail damaged by a faulty train.
https://www.businesstimes.com.sg/singapore/train-service-between-jurong-east-buona-vista-expected-restart-only-oct-1
https://www.straitstimes.com/singapore/train-service-between-jurong-east-buona-vista-won-t-resume-on-sept-30-expected-to-restart-on-oct-1
Global Economy & Real Estate
What to look out for after the US interest rate cut
https://www.businesstimes.com.sg/opinion-features/what-look-out-after-us-interest-rate-cut
US consumer spending rises moderately in August; inflation slows
https://www.businesstimes.com.sg/international/us-consumer-spending-rises-moderately-august-inflation-slows
https://www.straitstimes.com/business/us-consumer-spending-rises-moderately-in-august-inflation-slows
China policymakers vow to study incremental economic measures
https://www.businesstimes.com.sg/international/china-policymakers-vow-study-incremental-economic-measures
Xi’s big stimulus week aims to draw a line under China slowdown
https://www.businesstimes.com.sg/international/xis-big-stimulus-week-aims-draw-line-under-china-slowdown
https://www.straitstimes.com/business/xi-s-big-stimulus-blitz-aims-to-draw-a-line-under-china-slowdown
China has cut rates, now it needs a fiscal policy package: former central bank adviser
https://www.scmp.com/economy/china-economy/article/3280436/china-has-cut-rates-now-it-needs-fiscal-policy-package-former-central-bank-adviser
China’s industrial profits suffer biggest slump this year, adds to economic woes
https://www.businesstimes.com.sg/international/chinas-industrial-profits-suffer-biggest-slump-year-adds-economic-woes
https://www.straitstimes.com/business/economy/chinas-industrial-profits-suffer-biggest-slump-in-2024-adds-to-economic-woes
China to cut existing mortgage rates by end-October, cities ease home-buying curbs
https://www.businesstimes.com.sg/property/china-cut-existing-mortgage-rates-end-october-cities-ease-home-buying-curbs
https://www.straitstimes.com/business/china-moves-to-cut-mortgage-rates-to-revive-housing-market
Shanghai, Shenzhen to lift key home purchase curbs to boost market
https://www.businesstimes.com.sg/property/shanghai-shenzhen-lift-key-home-purchase-curbs-boost-market
China’s anxious youth, with no plans to marry, buy a flat or save, focus on life’s needs
https://www.scmp.com/economy/china-economy/article/3280244/chinas-anxious-youth-no-plans-marry-buy-flat-or-save-focus-lifes-needs
Consumer inflation expectations dip in August, ECB says
https://www.businesstimes.com.sg/international/consumer-inflation-expectations-dip-august-ecb-says
Chinese headed to Europe and far-flung hotspots for Golden Week
https://www.businesstimes.com.sg/international/chinese-headed-europe-and-far-flung-hotspots-golden-week
https://www.straitstimes.com/business/strong-rebound-in-china-tourists-headed-overseas-for-golden-week
Poor eurozone data flow keeps adding to case for ECB rate cut
https://www.businesstimes.com.sg/international/poor-eurozone-data-flow-keeps-adding-case-ecb-rate-cut
Hong Kong must crack down harder on wealthy residents living in public flats, leader says
https://www.scmp.com/news/hong-kong/politics/article/3280362/hong-kong-must-crack-down-harder-wealthy-residents-living-public-flats-leader-says
Hong Kong buyers snap up 200 flats as market sentiment improves on interest rate cut
https://www.scmp.com/business/article/3280360/hong-kong-buyers-snap-200-flats-market-sentiment-improves-interest-rate-cut
In Hong Kong’s commercial real estate market, ‘everybody has their own fair share of pain’
https://www.scmp.com/business/article/3280208/hong-kongs-commercial-real-estate-market-everybody-has-their-own-fair-share-pain
New World scion’s fall upends succession at US$23 billion dynasty
https://www.businesstimes.com.sg/property/new-world-scions-fall-upends-succession-us23-billion-dynasty
Core inflation in Japan’s capital matches BOJ target
https://www.straitstimes.com/business/economy/core-inflation-in-japans-capital-matches-boj-target
Japan August factory output falls 3.3% month-on-month
https://www.channelnewsasia.com/business/japan-august-factory-output-falls-33-month-month-4648281
Japan August retail sales rise 2.8% year-on-year
https://www.channelnewsasia.com/business/japan-august-retail-sales-rise-28-year-year-4648286
Malaysia’s zero tax rate for family offices in Forest City unlikely to challenge Singapore: Experts
https://www.straitstimes.com/business/malaysia-s-zero-tax-rate-for-family-offices-in-forest-city-unlikely-to-challenge-singapore-experts
Riskiest real estate bonds are beating Nvidia’s returns
https://www.businesstimes.com.sg/companies-markets/riskiest-real-estate-bonds-are-beating-nvidias-returns
A quarter of Paris’ La Defense offices are ‘obsolete’, says district’s CEO
https://www.businesstimes.com.sg/property/quarter-paris-la-defense-offices-are-obsolete-says-districts-ceo
Fast-ageing South Korea sees money in luxury retirement homes
https://www.businesstimes.com.sg/international/fast-ageing-south-korea-sees-money-luxury-retirement-homes
South Korea Aug factory output rises the most in a year
https://www.channelnewsasia.com/business/south-korea-aug-factory-output-rises-most-year-4648256
UK business confidence falls from eight-year high: survey
https://www.businesstimes.com.sg/international/uk-business-confidence-falls-eight-year-high-survey
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