Singapore Real Estate / Built Environment
Church in S$54.5 million purchase of 19,289 sq ft retail space in Orchard Towers
About 19,000 square feet (sq ft) of retail space on the fourth level of the freehold Orchard Towers is being sold for S$54.5 million.
Joo Chiat, Tanjong Pagar shophouse rentals outpace average market rates
In recent years, Kampong Gelam, an area steeped in heritage and history, has been cultivating a more modern and unique identity. The rows of old shophouses have attracted niche brands, which have turned the area into a hangout for the young and trendy.
Condo sizes shrank in past 15 years as developers sought to keep prices manageable
Event organiser Jane Seet bought a 678 sq ft two-bedder in Emerald of Katong in November 2024 for $1.84 million, but has no plans to live in it because it is too small.
Luxury resale condo market stalls in 2024 as demand from foreign buyers falls
Singapore’s luxury condominium market came to a standstill in 2024, with property agents reporting a limited pool of buyers, leaving them with numerous listings but few takers.
URA should whet the appetite of developers with a prime CBD office site in Singapore
A potential shortage may be on the horizon for Singapore’s Core Central Business District (CBD) Grade A office market.
Construction companies need to collaborate and plan better as demand climbs
Strong growth in construction demand is expected to further strain demand for manpower and resources. Without better planning and collaboration among stakeholders, issues such as poaching could become more significant in 2025 and margins could come under pressure.
Structural integrity of Toa Payoh warehouse where floor collapsed unaffected, says BCA
The Toa Payoh warehouse where a unit’s mezzanine floor collapsed on Jan 28 is structurally safe, the Building and Construction Authority (BCA) has said. In response to a query from The Straits Times, a BCA spokesperson said: “The partial collapse of the steel platform and racking system did not affect the structural integrity of the building.”
Singapore Economy
Businesses must stay resilient amid challenges in 2025: Gan Kim Yong
Businesses here must remain agile, nimble and resilient in the face of challenges that are likely to impact growth outlook in 2025.
Budget 2025 may give firms support for long-term goals, but not short-term costs
Singapore’s companies can expect help in Budget 2025 – but not necessarily short-term goodies such as those that individuals might get in an election Budget, said observers.
Johor-Singapore SEZ: Will third time be the charm?
The formal launch of the Johor-Singapore Special Economic Zone (JS-SEZ) has generated a flurry of interest from businesses and industry stakeholders keen to be part of what many are calling a “game changer” in economic cooperation between the two neighbours.
https://www.businesstimes.com.sg/opinion-features/johor-singapore-sez-will-third-time-be-charm
Global Economy & Real Estate
US Federal Reserve pauses rate cuts, will ‘wait and see’ on Trump policies
https://www.straitstimes.com/business/economy/us-fed-pauses-rate-cuts-resisting-trump-pressure
Big central banks start 2025 heading in different directions
Import surge seen curbing US economic growth in fourth quarter
Blackstone set for New York office comeback with Midtown tower
https://www.businesstimes.com.sg/property/blackstone-set-new-york-office-comeback-midtown-tower
Goldman venture buys US$300 million of warehouses from Blackstone
https://www.businesstimes.com.sg/property/goldman-venture-buys-us300-million-warehouses-blackstone
Australians are among the most frustrated in the world over housing: survey
Asean readies for Trump’s tariffs tantrums, trade turmoil
Chinese tourists in Singapore increasingly looking for experiences, free and easy travel
Chinese tourists, wary of Thailand, plan other stops for Lunar New Year travel
European Central Bank cuts rates to 2.75%, leaves room for more easing as growth lags
ECB to cut interest rates, keep door open to further easing
European office sales slumped to lowest since 2009 last year, data shows
Hong Kong central bank keeps base rate unchanged as Fed holds steady
Hong Kong restaurants expect 10% Lunar New Year boost to business
Hong Kong hotels’ Lunar New Year occupancy rates above 90% but few big spenders
Hong Kong’s December mortgages shrink 21.1% as high rates drive homebuyers to sidelines
Japan’s government interest costs to swell more than 50% in next few years
BOJ will keep raising rates if economy on track, deputy governor Himino says
Core consumer prices in Japan’s capital rises 2.5% yr/yr in January
New Zealand government outlines plans to double mineral exports by 2035
Philippine economic growth disappoints in 2024 as risks abound
Thai economy seen growing 3% in 2025, finance ministry says
Faced with almost stagnant economy, UK’s Reeves promises all-out effort to kickstart growth
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