Singapore Real Estate / Built Environment
Jurong Port opens S$200 million shared-services hub for ready-mixed concrete
Port operator Jurong Port (JP) on Wednesday (Nov 27) opened a S$200 million shared-services hub for ready-mixed concrete, which will enable construction companies to streamline logistics planning and cut costs.
https://www.businesstimes.com.sg/property/jurong-port-opens-s200-million-shared-services-hub-ready-mixed-concrete
https://www.straitstimes.com/singapore/new-jurong-facility-will-boost-production-times-for-concrete-reduce-emissions
Sukanto Tanoto’s eldest son buys Fernhill Road bungalow for S$21 million
The eldest child of Indonesia-born tycoon Sukanto Tanoto has picked up an old bungalow in Fernhill Road for S$21 million. The price works out to S$2,549 per square foot on the freehold land area of 8,238 sq ft.
https://www.businesstimes.com.sg/property/sukanto-tanotos-eldest-son-buys-fernhill-road-bungalow-s21-million
Singapore Economy
Household debt on the rise but may be cushioned by wage, financial assets growth: MAS
Despite rising household debt, most borrowers are still likely able to repay loans, as wages and financial assets grow at a faster pace, said the Monetary Authority of Singapore (MAS) in its annual Financial Stability Review on Wednesday (Nov 27).
https://www.businesstimes.com.sg/singapore/household-debt-rise-may-be-cushioned-wage-financial-assets-growth-mas
https://www.straitstimes.com/business/spore-households-debt-up-in-2023-but-assets-grew-faster
https://www.zaobao.com.sg/realtime/singapore/story20241127-5406511
Singapore banks, insurers in ‘good position’ to withstand severe macrofinancial shock: MAS
Singapore’s banks and insurers have sufficient capital and liquidity buffers to withstand potential downside risks arising from severe macrofinancial stresses, said the Monetary Authority of Singapore (MAS) in a report on Wednesday (Nov 27).
https://www.businesstimes.com.sg/companies-markets/singapore-banks-insurers-good-position-withstand-severe-macrofinancial-shock-mas
https://www.straitstimes.com/business/economy/companies-debt-levels-in-singapore-low-banks-and-insurers-can-withstand-shocks-mas
Global Economy & Real Estate
US Fed’s favourite inflation measure sped up in October
https://www.straitstimes.com/business/economy/us-feds-favourite-inflation-measure-sped-up-in-october
https://www.businesstimes.com.sg/international/us-feds-favoured-inflation-gauge-picks-backs-cautious-approach
US GDP grows at solid 2.8% pace, helped by consumer spending
https://www.businesstimes.com.sg/international/us-gdp-grows-solid-2-8-pace-helped-consumer-spending
https://www.straitstimes.com/business/economy/us-gdp-grows-at-solid-2-8-pace-in-q3-helped-by-consumer-spending
US core capital goods orders unexpectedly fall in October
https://www.businesstimes.com.sg/international/us-core-capital-goods-orders-unexpectedly-fall-october
US weekly jobless claims decline further
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-decline-further1
US mortgage rates drop, easing pressure on potential homebuyers
https://www.businesstimes.com.sg/property/us-mortgage-rates-drop-easing-pressure-potential-homebuyers
US pending home sales rise for third straight month
https://www.businesstimes.com.sg/property/us-pending-home-sales-rise-third-straight-month
US home-purchase applications rise to highest since February
https://www.businesstimes.com.sg/property/us-home-purchase-applications-rise-highest-february
Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs
https://www.straitstimes.com/business/companies-markets/asia-likely-to-benefit-from-cheaper-canadian-mexican-oil-if-trump-imposes-tariffs
Xi Jinping’s ‘city of the future’ just had a record quarter for construction financing
https://www.scmp.com/economy/china-economy/article/3288391/xi-jinpings-city-future-just-had-record-quarter-construction-financing
China needs US$1.4 trillion to boost domestic consumption amid impending ‘trade war 2.0’
https://www.scmp.com/business/china-business/article/3288399/china-needs-us14-trillion-boost-domestic-consumption-amid-impending-trade-war-20
China Oct industrial profits narrow decline, but headwinds loom
https://www.straitstimes.com/business/economy/chinas-industrial-profits-extend-fall-on-deflation-woes
https://www.scmp.com/economy/economic-indicators/article/3288387/chinas-industrial-profits-drop-october-property-slump-flows-downstream
Apollo backs luxury Florida condo project on Millionaire’s Mile
https://www.businesstimes.com.sg/property/apollo-backs-luxury-florida-condo-project-millionaires-mile
German consumer confidence set to worsen at year-end
https://www.businesstimes.com.sg/international/german-consumer-confidence-set-worsen-year-end
Hong Kong home prices rise in Oct, ending five-month decline
https://www.businesstimes.com.sg/property/hong-kong-home-prices-rise-oct-ending-five-month-decline
https://www.scmp.com/business/article/3288286/hong-kong-home-prices-rise-first-time-march-though-rents-cool-slightly
Hong Kong tower seized from tycoon ends up sold to a university
https://www.businesstimes.com.sg/property/hong-kong-tower-seized-tycoon-ends-sold-university
https://www.scmp.com/property/article/3288395/chen-hongtian-saga-hong-kong-university-pays-us334-million-tower-distress-sale
Hillhouse’s EZA Hill buys US$148 million Jakarta logistics portfolio from ESR fund
https://www.businesstimes.com.sg/international/asean/hillhouses-eza-hill-buys-us148-million-jakarta-logistics-portfolio-esr-fund
Real estate worth 25 trillion yen puts Japan companies in spotlight
https://www.businesstimes.com.sg/international/global/real-estate-worth-25-trillion-yen-puts-japan-companies-spotlight
IMF sees Thai GDP growth at 2.7% this year, 2.9% in 2025
https://www.businesstimes.com.sg/international/asean/imf-sees-thai-gdp-growth-2-7-year-2-9-2025
UK services sector sentiment falls at fastest pace in two years, CBI says
https://www.businesstimes.com.sg/international/uk-services-sector-sentiment-falls-fastest-pace-two-years-cbi-says
Britain tightens sanctions on employers exploiting foreign workers
https://www.businesstimes.com.sg/international/britain-tightens-sanctions-employers-exploiting-foreign-workers
Britain’s Nationwide books surprisingly big £2.3 billion gain on Virgin Money deal
https://www.businesstimes.com.sg/property/britains-nationwide-books-surprisingly-big-ps2-3-billion-gain-virgin-money-deal
UK house prices became slightly more affordable in 2024: Halifax
https://www.businesstimes.com.sg/property/uk-house-prices-became-slightly-more-affordable-2024-halifax
Vietnam PM urges US to lift some high-tech export restrictions
https://www.businesstimes.com.sg/international/asean/vietnam-pm-urges-us-lift-some-high-tech-export-restrictions
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.