Singapore Real Estate
Govt cuts industrial land supply on confirmed list by 30% for second half of 2024
Singapore – The Government has launched five sites on the confirmed list and another five sites on the reserve list, with a total site area of 13ha, under its Industrial Government Land Sales (IGLS) programme for the second half of 2024.
https://www.straitstimes.com/business/govt-cuts-industrial-land-supply-on-confirmed-list-by-30-for-second-half-of-2024
High Street Centre gets offer of under S$700 million for collective sale
High Street Centre has received an offer of under S$700 million, more than 6 per cent below its reserve price of S$748 million, after its en bloc sale tender closed on Monday (Jun 24).
https://www.businesstimes.com.sg/property/high-street-centre-gets-offer-under-s700-million-collective-sale
HDB puts mixed-use site at Tampines Street 94 for sale
Singapore’s Housing and Development Board on Thursday (Jun 27) launched a mixed commercial and residential site at Tampines Street 94 for sale via tender. The 99-year plot, which is on the confirmed list under the first half of 2024 government land sales programme, can potentially yield about 585 residential units.
https://www.businesstimes.com.sg/property/hdb-puts-mixed-use-site-tampines-street-94-sale
https://www.straitstimes.com/singapore/housing/hdb-puts-up-mixed-use-site-at-tampines-street-94-for-sale
https://www.channelnewsasia.com/singapore/june-bto-exercise-hdb-application-tampines-greentopaz-holland-vista-first-timers-4439221
Business News
Ascott announces key appointments in global expansion move
The Ascott has announced six key appointments in the functions of business development, strategy, and operations. On Thursday (Jun 27), the lodging business unit of CapitaLand Investment said that the move will support its global expansion in management and franchise contracts, as well as catalyse strategic growth
https://www.businesstimes.com.sg/companies-markets/ascott-announces-key-appointments-global-expansion-move
https://www.straitstimes.com/business/ascott-announces-6-key-appointments-in-global-expansion-move
SBF re-elects chairman Lim Ming Yan for third term, welcomes six new council members
Singapore Business Federation (SBF) chairman Lim Ming Yan has been re-elected for a third term, following the business chamber’s 22nd annual general meeting on Thursday (Jun 27), during which six new members were also appointed to its council.
https://www.businesstimes.com.sg/singapore/sbf-re-elects-chairman-lim-ming-yan-third-term-welcomes-six-new-council-members
Global Economy & Real Estate
US GDP revised upwards for January-March quarter
https://www.businesstimes.com.sg/international/us-gdp-revised-upwards-january-march-quarter
US economy shows further signs of slowing under high rates
https://www.businesstimes.com.sg/international/us-economy-shows-further-signs-slowing-under-high-rates
US core capital goods orders fall sharply in Mayhttps://www.businesstimes.com.sg/international/us-core-capital-goods-orders-fall-sharply-may
US mortgage rates fall, hovering at lowest since early April
https://www.businesstimes.com.sg/property/us-mortgage-rates-fall-hovering-lowest-early-april
US pending home sales fall in May
https://www.businesstimes.com.sg/property/us-pending-home-sales-fall-may
Australia’s second-largest pension fund says RBA will not hike rates in August
https://www.businesstimes.com.sg/international/australias-second-largest-pension-fund-says-rba-will-not-hike-rates-august
Boston office slump sets up US$400 million burden for residents
https://www.businesstimes.com.sg/property/boston-office-slump-sets-us400-million-burden-residents
China’s economy ‘is full of hope’, but market reforms key to healthy, sustainable foundations
https://www.scmp.com/economy/china-economy/article/3268297/chinas-economy-full-hope-market-reforms-key-healthy-sustainable-foundations?module=top_story&pgtype=section
China’s economy in focus ahead of key July political meeting
https://www.businesstimes.com.sg/international/chinas-economy-focus-ahead-key-july-political-meeting
https://www.channelnewsasia.com/east-asia/china-third-plenum-meeting-economy-4440106
China’s factories seen extending activity declines in June
China’s industrial profits growth slows sharply in May amid patchy recovery
https://www.businesstimes.com.sg/international/global/chinas-industrial-profits-growth-slows-sharply-may-amid-patchy-recovery
China to raise duty-free limit for visitors to Hong Kong, Ming Pao says
https://www.businesstimes.com.sg/international/china-raise-duty-free-limit-visitors-hong-kong-ming-pao-says
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3268315/hong-kong-5000-yuan-duty-free-limit-mainland-chinese-visitors-rise-far-below-hopes?module=top_story&pgtype=subsection
The unintended consequences of property cooling policies
https://www.businesstimes.com.sg/property/unintended-consequences-property-cooling-policies
Southeast Asian start-ups lured to Hong Kong by mainland China link, funding opportunities
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3268314/southeast-asian-start-ups-lured-hong-kong-mainland-china-link-funding-opportunities
Hong Kong jumps 11 spots to No 50 in global liveability ranking, Singapore at 26th
https://www.scmp.com/news/hong-kong/society/article/3268237/hong-kong-jumps-11-spots-no-50-global-liveability-ranking-singapore-26th
Hong Kong developers’ cash rebates of up to 50% draw regulator’s scrutiny
https://www.scmp.com/business/banking-finance/article/3268310/hong-kong-developers-cash-rebates-50-draw-regulators-scrutiny
Hong Kong retailers to offer HK$1.2 billion in goodies, perks for summer shopping festival
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3268345/hong-kong-retailers-offer-hk12-billion-goodies-perks-summer-shopping-festival?module=top_story&pgtype=subsection
Indonesia wants Chinese tourists to look beyond Bali holidays
https://www.businesstimes.com.sg/international/asean/indonesia-wants-chinese-tourists-look-beyond-bali-holidays
Japan warns prolonged high US, Europe interest rates
https://www.channelnewsasia.com/business/japan-warns-prolonged-high-us-europe-interest-rates-4439631
Core inflation in Japan’s capital accelerates in June
https://www.channelnewsasia.com/business/core-inflation-japans-capital-accelerates-june-4441776
https://www.businesstimes.com.sg/international/inflation-japans-capital-accelerates-keeps-bank-japan-rate-hike-prospects
Japan inflation spurs shift to record household assets in stocks
https://www.businesstimes.com.sg/international/japan-inflation-spurs-shift-record-household-assets-stocks
‘Symbol of bonded kinship’: Singaporeans, Malaysians laud importance of Causeway as motorway celebrates 100 years
https://www.channelnewsasia.com/asia/malaysia-johor-causeway-centennial-bridge-100-years-anniversary-land-checkpoints-4439581
The Philippines moves closer to policy rate cuts after June hold
https://www.businesstimes.com.sg/international/philippines-moves-closer-policy-rate-cuts-after-june-hold
South Korea’s exports to rise for ninth month on chip, US demand
https://www.channelnewsasia.com/business/south-koreas-exports-rise-ninth-month-chip-us-demand-reuters-poll-4439346
Sweden’s Riksbank holds key rate, could speed up cuts this year
https://www.businesstimes.com.sg/international/swedens-riksbank-holds-key-rate-could-speed-cuts-year
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