Singapore Real Estate / Built Environment
Mortgagee listings climb in Q1 as interest rate strains hit market
Mortgagee listings in Singapore property auctions rose in the first quarter of 2025 as distressed sales due to the last two years of high interest rates have started to enter the market, said a report by property consultancy Knight Frank on Monday (Apr 28).
If OCBC wants to keep Chulia Street properties, it should partner a property group to redevelop them
In this column on Mar 31, I advocated that OCBC should sell its Chulia and Church Street properties so that the assets can be redeveloped to create a new prime office project in the heart of the Central Business District (CBD). Divesting these buildings will also help create shareholder value.
S$16 million deal at Leedon Residence tops Q1 gains with seller reaping S$4 million profit
A 6,125 square foot (sq ft) unit at Leedon Residence was sold for S$16 million in March 2025, earning the seller a tidy profit of S$4 million – making it the most profitable transaction by quantum in the first quarter of 2025.
Five-room HDB resale in Sengkang sets new record price at $1.06 mil
A 1,206 sq ft, five-room HDB resale unit at 279B Sengkang East Avenue has sold for about $1.06 million, or $877 psf, earlier this month, setting a new record price in Sengkang. The deal was facilitated by Kayden Siow, associate division director at Huttons Asia.
https://www.edgeprop.sg/property-news/five-room-hdb-resale-sengkang-sets-new-record-price-106-mil
Singapore Economy / GE 2025
Tripartism key to safeguarding jobs, incomes amid global uncertainty: Tan See Leng
Close tripartite relations are more important than ever amid unprecedented trade tensions and a weakening global order, said Manpower Minister Tan See Leng in his May Day message on Tuesday (Apr 29).
https://www.zaobao.com.sg/news/singapore/story20250429-6258833
Singapore’s Q1 employment growth slows, unemployment edges up, with further softening ahead
Employment growth slowed and unemployment rose in the first quarter of 2025, with the Ministry of Manpower (MOM) expecting the labour market to continue softening due to greater uncertainty in external growth prospects.
https://www.zaobao.com.sg/news/singapore/story20250428-6257242
GE2025: 6 rallies to catch on Day 7 of campaigning
GE2025: Parties push on with rallies, walkabouts on day 7 of campaigning
It’s the seventh day of the nine-day election campaign, with five parties set to hold a total of six election rallies on Tuesday (Apr 29). The People’s Action Party (PAP), People’s Power Party (PPP), Red Dot United (RDU), Singapore Democratic Party (SDP) and Workers’ Party (WP) will all hold evening rallies.
https://www.businesstimes.com.sg/singapore/ge2025-6-rallies-catch-day-7-campaigning
https://www.straitstimes.com/singapore/politics/ge2025-6-election-rallies-on-april-29
https://www.channelnewsasia.com/singapore/ge2025-campaigning-day-7-general-election-5090646
Business News
Hwa Hong, Wing Tai, Teo family consortium launches bid to take Amara private at S$0.895 a share
Amara on Monday (Apr 28) received a voluntary conditional general offer at S$0.895 per share from a consortium led by property company Hwa Hong, which was formerly listed on the Singapore Exchange.
CapitaLand Ascendas Reit reports positive rental reversions despite dip in occupancy in Q1
CapitaLand Ascendas Real Estate Investment Trust reported a growth in portfolio rental reversions of 11 per cent in the first quarter of 2025, despite occupancy dipping, in a bourse filing on Monday (Apr 28). Across Clar’s portfolio, all geographies saw a fall in occupancy, with a 1.3 per cent quarter-on-quarter (qoq) decline in total portfolio occupancy.
https://www.zaobao.com.sg/finance/singapore/story20250428-6259574
CapitaLand Ascott Trust gross profit rises 4% in Q1
CapitaLand Ascott Trust’s managers said in a business update on Monday (Apr 28) that the trust’s gross profit rose 4 per cent year on year in the first quarter of 2025. Gross profit from new properties in the quarter replaced the drop in gross profit from divestments in 2024, the managers said, driven by stronger performance from properties the trust renovated in 2024.
https://www.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-gross-profit-rises-4-q1
https://www.straitstimes.com/business/property/capitaland-ascott-trust-gross-profit-rises-4-in-q1
Latest NZ$2.80-per-share offer by CDL unit still ‘too low and inadequate’: M&C New Zealand
The independent directors of Millennium & Copthorne Hotels New Zealand (MCK) do not recommend shareholders of MCK to accept the increase of CDL Hotels Holdings New Zealand’s (CDLHH NZ) offer price to NZ$2.80 per ordinary share.
Frasers Centrepoint Trust posts 0.5% rise in H1 DPU to S$0.06054
rasers Centrepoint Trust (FCT) on Tuesday (Apr 29) posted a 0.5 per cent increase in distribution per unit (DPU) for the first half ended Mar 31 to S$0.06054, from S$0.06022 in the same period a year before.
Global Economy / Real Estate News
Global economy recession risks surge on US tariff shockwaves
Trump to reduce impact of auto tariffs, officials say
https://www.businesstimes.com.sg/international/trump-reduce-impact-auto-tariffs-officials-say
3 Asian property markets could offer shelter from Trump’s tariff storm
China repeats vow to support jobs, economy as US tariffs hit
https://www.businesstimes.com.sg/international/china-repeats-vow-support-jobs-economy-us-tariffs-hit
First Sponsor reports subdued market sentiments affecting China property development in Q1 2025
Hong Kong exports up 18.5% in March amid US-China trade war
Hong Kong home prices fall for a fourth month in March
https://www.businesstimes.com.sg/property/hong-kong-home-prices-fall-fourth-month-march
BOJ to keep rates steady, warn of US tariff risks
https://www.channelnewsasia.com/business/boj-keep-rates-steady-warn-us-tariff-risks-5094001
Bursa Malaysia’s Q1 net profit falls 8.8% on lower trading revenue
New Zealand to tighten budget belt as US tariffs threaten growth
Thailand launches digital arrival card for foreign visitors amid human trafficking crackdown
UK growth outlook slashed to 0.8% as US tariffs hit investment
As Vietnam readies for new international financial centre, Ho Chi Minh City and Da Nang woo investors with billion-dollar projects
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