The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News 29, 30, 31 Mar & 1 Apr 2024 (Fri, Sat, Sun & Mon)

Singapore Real Estate


Rich rewards could lie ahead for Jurong Lake District’s master developer
Kudos to CapitaLand Development, City Developments Limited (CDL), Frasers Property, Mitsubishi Estate, and Mitsui Fudosan (Asia) for submitting two joint bids, with different concept proposals, for the master-developer site at Jurong Lake District (JLD).


Smaller down payment for BTO flats should not be the motivation for students to buy
Housing may not be something that is on top of couples’ minds while they are still studying, but the latest changes to the Build-To-Order (BTO) scheme by the Housing and Development Board (HDB) could spur more couples to start planning ahead.


When families fight over HDB flats
Disputes over Housing Board flats tend to be less complicated than those involving private real estate because the rules governing public housing are simpler and accessible to the public online.



Singapore Economy


MAS likely to keep Sing$ policy stance tight even as major central banks flag possible rate cuts
Singapore – In late 2021, Singapore was among the first few countries to declare war against inflation. But even after achieving quite a bit of success in limiting the pace of price gains, recent data shows that the fight is far from over.


Household electricity, gas tariffs to fall in Q2
Singaporean households can expect to pay slightly lower electricity and gas rates in the second quarter of 2024, compared to the previous quarter. On Thursday (Mar 28), state energy suppliers SP Group and City Energy each announced a decrease in tariffs for electricity and gas from Apr 1 to Jun 30, amid lower costs compared with the first quarter of 2024.


Households to pay more for waste disposal from July 1 due to rising costs
Singapore – From July 1, residents will need to pay more for public waste collection due to rising operational and manpower costs. The National Environment Agency (NEA) said in a statement on March 28 that monthly household refuse collection fees for Housing Board flats and non-landed private housing will rise from $9.81 to $10.20, an increase of 39 cents.



Business News


Eight S-Reits among Singapore’s top retail net buy stocks in Q1
The first quarter of 2024 (till Mar 27) saw the FTSE EPRA Nareit Global Reits Index decline 0.6 per cent in total return. The iEdge S-Reit Index recorded greater total return declines of 7.3 per cent across the same period.


Cushman & Wakefield appoints Natalie Craig as Singapore CEO
Cushman & Wakefield (C&W) has appointed Natalie Craig as its Singapore chief executive, effective Apr 1, 2024. In the newly created role, Craig will oversee a team of more than 2,000 staff from C&W’s commercial real estate business and its sister entity, C&W Services, which offers facilities management and engineering solutions.


ESR-Logos Reit secures S$200m sustainability-linked credit facility
ESR-Logos Real Estate Investment Trust (Reit) has obtained its first sustainability-linked loan worth S$200 million. The unsecured revolving credit facility agreement is entered into by Perpetual (Asia) in its capacity as the trustee of ESR-Logos Reit.


Keppel Reit doubles down on growth strategy amid uncertainty
It has been a challenging few years, with a global pandemic wreaking havoc on the economy, growing inflationary pressures, and a fast-changing macroeconomic climate. Yet, Keppel real estate investment trust (Keppel Reit) has held firm through it all, blooming in adversity.


Keppel Reit to acquire 50% interest in Sydney office building for A$363.8 million
Keppel Real Estate Investment Trust (Reit) has agreed to acquire a 50 per cent interest in a freehold Grade A office building in Sydney’s central business district (CBD) for A$363.8 million (S$321 million).


LHN expands co-living portfolio with healthcare lodging win, bolstered by high occupancy
Mainboard-listed LHN co-living business segment Coliwoo will continue to grow, backed by an increase in keys and resilient rental rates, analysts have said. In particular, the company could get a boost from the award of two contracts to operate hostel-type facilities for foreign healthcare workers, which will house at least 700 such professionals.



Global Economy & Real Estate


Fed’s balancing act could see June rate cut in play even with sticky inflation


Baltimore bridge collapse could impact US inflation, compound supply chain risks


US inflation increases moderately in February; consumer spending surges


US consumer sentiment jumps to highest level since July 2021


US to impose new visa curbs on Hong Kong officials over rights crackdown


US pending home sales bounce back after slump in January


Older US office buildings left ‘stranded’, Morgan Stanley says


Value of offices in US falls as remote working persists


Australia retail sales rise modestly in Feb thanks to Taylor Swift concerts


China’s GDP target in realistic range despite challenges: ADB chief economist


China’s industrial upswing is the latest sign of economic recovery


China’s March factory activity expands for first time in six months


Chinese property developers’ 2023 results hit by sector downturn


China home sales drought persists with little hint of turnaround


China property crisis is rippling through its biggest banks


Country Garden delays earnings report, Vanke net tumbles as woes deepen


How Country Garden plays into China’s property mess


Fitch downgrades Chinese property developer Longfor to ‘junk’


Wanda to cede control of its mall unit in 60 billion yuan deal


ECB rate cuts totalling 100 points possible this year: Greek central banker


German retail sales fall unexpectedly in February


Hong Kong set to fall one spot to 10th place in rankings of world’s busiest container ports, logistics minister says


Hong Kong’s Urban Renewal Authority to relax rules on tenders, borrow cash after HK$3.5 billion deficit last year


Hong Kong housing director pours cold water on fears over health of subsidised homes market, despite rash of cancellations with lost deposits


Tech talent moving to Hong Kong more worried about living costs than Article 23 domestic national security law, Science Park executives say


Hong Kong property: CK Asset prices first Blue Coast flats well below cost and cheaper than other Southside projects


Hong Kong property: Li Ka-shing’s CK Asset lists another 110 flats at Blue Coast after 8,000 buyers jump at first 138


Japan’s service sector sentiment rises to highest in over three decades


Tokyo inflation slowdown, output slide clouds BOJ’s rate hike outlook


Japan’s benchmark rate hike expected to spare S-Reits with country exposure: analysts


Japan faces risks from US, China economies, banking head says


Bank of Korea warns of economic hit if property slump lasts


South Korea March exports up for sixth month on chip sales; miss estimates


South Korea’s February factory output rises most in six months, retail sales drop


South Korea market watchdog vows to further develop corporate reform plan


Malaysia’s Exchange 106 commands highest office rents in Kuala Lumpur


Thailand offers tax waiver to attract ‘world-class events’


UK economy went into recession last year, data confirms


UK landlords bet on green offices as hybrid work makes tenants picky


London office sales shelved in bet on higher property prices


UK restaurants and bars cut hours as costs soar by £3.4 billion


Vietnam economy expands 5.66% in first quarter as exports boom


Vietnam set to re-auction controversial southern land parcels that fetched US$100,000 per sq m in 2021


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.

Scroll to Top