Singapore Real Estate / Built Environment
Public space linking Little India, Kampong Gelam and Waterloo Street among proposed plans along North-South Corridor
Singapore: When the North-South Corridor is completed, the surface streets along the project will also be transformed, with public spaces linking cultural districts in the city as well as play areas lined with greenery in neighbourhoods.
https://www.channelnewsasia.com/singapore/north-south-corridor-proposed-plans-public-spaces-surface-streets-4570471
https://www.straitstimes.com/singapore/north-south-corridor-could-include-iconic-public-space-in-rochor-linking-3-cultural-districts
Warburg, Lendlease buy S$1.6 billion in industrial assets from Blackstone-Soilbuild private Reit
Lendlease and US private equity giant Warburg Pincus have acquired a S$1.6 billion portfolio of assets in Singapore from a Reit owned by Blackstone and Lim Chap Huat, Soilbuild : S7P 0%’s executive chairman, in a megadeal showing solidifying interest in industrial real estate.
https://www.businesstimes.com.sg/property/warburg-lendlease-buy-s1-6-billion-industrial-assets-blackstone-soilbuild-private-reit
https://www.straitstimes.com/business/warburg-pincus-lendlease-venture-buys-singapore-industrial-assets-for-16-billion
https://www.theedgesingapore.com/news/property/warburg-pincus-lendlease-jv-platform-acquires-16-bil-portfolio-assets-singapore
Singapore climbs to 13th place in global real estate transparency index
Singapore has moved up one spot to place 13th in the latest edition of JLL’s Global Real Estate Transparency Index. It also joined the top ranks of highly transparent markets for the first time.
https://www.businesstimes.com.sg/property/singapore-climbs-13th-place-global-real-estate-transparency-index
Business News
Keppel Infrastructure Trust’s private placement to raise S$200 million at top end of price range
Keppel Infrastructure Trust (KIT) has closed its private placement at S$0.438 apiece with 456.6 million new units issued, representing the top end of the price range proposed the day before.
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trusts-private-placement-raise-s200-million-top-end-price-range
https://www.straitstimes.com/business/companies-markets/keppel-infrastructure-trust-s-private-placement-to-raise-200-million-at-top-end-of-price-range
Lum Chang swings back to black with S$3.7 million H2 net profit
Construction company Lum Chang posted a net profit of S$3.7 million for the second half of its 2024 fiscal year ended Jun 30, reversing its net loss of S$29.3 million over the same period last year.
https://www.businesstimes.com.sg/companies-markets/lum-chang-swings-back-black-s3-7-million-h2-net-profit
Wing Tai H2 net loss widens to S$99.2 million
Property developer Wing Tai Holdings widened its net loss in the second half of its 2024 fiscal year ended Jun 30 to S$99.2 million, nearly doubling its losses from S$50 million a year ago.
https://www.businesstimes.com.sg/companies-markets/wing-tai-h2-net-loss-widens-s99-2-million
https://www.theedgesingapore.com/capital/results/wing-tai-holdings-reports-fy2024-loss-787-mil
Global Economy & Real Estate
New mpox strain is changing fast; African scientists are ‘working blind’ to respond
https://www.businesstimes.com.sg/international/new-mpox-strain-changing-fast-african-scientists-are-working-blind-respond
US consumer confidence rises in August
https://www.businesstimes.com.sg/international/us-consumer-confidence-rises-august
https://www.straitstimes.com/business/economy/us-consumer-confidence-rises-on-views-of-economy-inflation
US house prices fall on monthly basis in June
https://www.businesstimes.com.sg/property/us-house-prices-fall-monthly-basis-june
China’s industrial profits climb even as warning signs flash
https://www.businesstimes.com.sg/international/global/chinas-industrial-profits-climb-even-warning-signs-flash
https://www.straitstimes.com/business/china-s-industrial-profits-climb-even-as-warning-signs-flash
China’s ‘hidden debt’ drive controls borrowing for municipal infrastructure projects
https://www.scmp.com/economy/china-economy/article/3276106/chinas-hidden-debt-drive-controls-borrowing-municipal-infrastructure-projects
China’s July net gold imports via HK rise for first time since March
https://www.businesstimes.com.sg/companies-markets/energy-commodities/chinas-july-net-gold-imports-hk-rise-first-time-march
ECB can gradually cut rates but jury still out on September, Knot says
https://www.businesstimes.com.sg/companies-markets/banking-finance/ecb-can-gradually-cut-rates-jury-still-out-september-knot-says
https://www.channelnewsasia.com/business/morning-bid-rate-cut-relief-doused-geopolitics-4569721
Germany confirms economy shrank in Q2
https://www.businesstimes.com.sg/international/germany-confirms-economy-shrank-q2
Hong Kong political climate and high costs hitting overseas business confidence: survey
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3276134/hong-kong-political-climate-and-high-costs-hitting-overseas-business-confidence-survey
New batch of Hong Kong subsidised flats still good deal even with lower discount, advisers say
https://www.scmp.com/news/hong-kong/society/article/3276146/new-batch-hong-kong-subsidised-flats-still-good-deal-even-lower-discount-advisers-say
Spanish retailer Mango snags prime Hong Kong shop at 50% discount amid retail slump
https://www.scmp.com/business/article/3276148/spanish-retailer-mango-snags-prime-hong-kong-shop-50-discount-amid-retail-slump
Sino Group reports 24.7% profit decline on slower home sales, higher revaluation losses
https://www.scmp.com/business/article/3276138/sino-group-reports-247-profit-decline-slower-home-sales-higher-revaluation-losses
Indonesia reinstates full tax break for property purchases until December
https://www.businesstimes.com.sg/property/indonesia-reinstates-full-tax-break-property-purchases-until-december
Malaysia must be ready to hike rates to curb prices, OECD says
https://www.businesstimes.com.sg/international/malaysia-must-be-ready-hike-rates-curb-prices-oecd-says
Malaysia says tech firms must comply with its laws amid backlash over social media licensing
https://www.businesstimes.com.sg/international/asean/malaysia-says-tech-firms-must-comply-its-laws-amid-backlash-over-social-media-licensing
https://www.channelnewsasia.com/business/tech-firms-must-comply-malaysias-laws-minister-says-amid-backlash-over-social-media-licensing-plan-4570001
‘A box of surprises’: A Rotterdam flat that’s only 74 sq ft
https://www.businesstimes.com.sg/property/box-surprises-rotterdam-flat-s-only-74-sq-ft
South Korean authorities eye budget bump with funds for chips, K-pop
https://www.businesstimes.com.sg/international/south-korean-authorities-eye-budget-bump-funds-chips-k-pop
Thai exports post fastest growth in 28 months in July
https://www.businesstimes.com.sg/international/asean/thai-exports-post-fastest-growth-28-months-july
Tokyo-Yokohama still world’s top science-tech cluster: UN
https://www.businesstimes.com.sg/international/tokyo-yokohama-still-worlds-top-science-tech-cluster-un
https://www.straitstimes.com/business/tokyo-yokohama-still-worlds-top-science-tech-cluster-un
Starmer signals pain and ‘unpopular decisions’ to fix Britain
https://www.businesstimes.com.sg/international/starmer-signals-pain-and-unpopular-decisions-fix-britain
https://www.channelnewsasia.com/world/uks-starmer-says-things-will-get-worse-they-get-better-4570161
UK banks brace for a lending boom on Labour’s housebuilding goals
https://www.businesstimes.com.sg/property/uk-banks-brace-lending-boom-labours-housebuilding-goals
UK retail sales fall for 3rd month, CBI says
https://www.businesstimes.com.sg/international/uk-retail-sales-fall-3rd-month-cbi-says
UK homes for sale hit seven-year high as market gains momentum
https://www.businesstimes.com.sg/property/uk-homes-sale-hit-seven-year-high-market-gains-momentum
https://www.straitstimes.com/business/property/uk-homes-for-sale-hit-7-year-high-as-market-gains-momentum
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