Singapore Real Estate / Built Environment
New community care apartments in Bukit Batok ‘soon to be completed’: Amy Khor
Singapore – Singapore’s first assisted living public housing flats in Bukit Batok West Avenue 9 are on their way to welcoming new residents, after a three- to four-month delay to the project’s completion date due to issues with its former main contractor.
https://www.straitstimes.com/singapore/new-community-care-apartments-at-bukit-batok-soon-to-be-completed-amy-khor
The new housing project in Chai Chee is expected to launch more than 1,000 standard HDB flats
The former secondary school site on Bedok Chai Chee Street is planned to be used as a housing project. Analysts expect that the authorities will launch more than 1,000 standard HDB flats under the new HDB classification framework here, with the estimated price of a four-room flat ranging from S$420,000 to S$530,000.
https://www.zaobao.com.sg/news/singapore/story20240828-4564503
Singapore Economy
Singapore must not let trend of ‘excessive’ individualism, populism affect local politics: Chee Hong Tat
Singapore must avoid the “slippery slope” of excessive individualism, populism and short-termism, which have gained “dangerous traction” of late and become dominant driving forces in the politics of some of the world’s largest economies, said Transport Minister and Second Finance Minister Chee Hong Tat on Wednesday (Aug 28).
https://www.businesstimes.com.sg/singapore/singapore-must-not-let-trend-excessive-individualism-populism-affect-local-politics-chee-hong-tat
https://www.straitstimes.com/singapore/key-to-use-s-pore-s-resources-responsibly-rather-than-indulge-in-fiscal-fantasies-chee-hong-tat
https://www.zaobao.com.sg/news/singapore/story20240829-4565363?ref=today-news-section-card-1
‘We do not take sides, we uphold principles’: Vivian on Singapore’s foreign policy approach
Singapore – Singapore’s foreign policy approach is not to be neutral, but to act in a principled and consistent way based on long-term national interests, said Foreign Minister Vivian Balakrishnan on Aug 27.
https://www.straitstimes.com/singapore/we-do-not-take-sides-we-uphold-principles-vivian-on-singapore-s-foreign-policy-approach
https://www.zaobao.com.sg/news/singapore/story20240828-4561375
Singapore insurers come under closer MAS watch over reinsurance contracts
Singapore – Insurers in Singapore will be more closely watched by the financial regulator, especially when it comes to reinsurance, or insurance for insurers. Industry players here who sell their risks to reinsurers have been asked to submit the terms and conditions of their contracts to the Monetary Authority of Singapore (MAS).
https://www.straitstimes.com/business/singapore-insurers-come-under-closer-mas-watch-over-reinsurance-contracts
Global Economy & Real Estate
US mortgage rates drop again to lowest level since April 2023
https://www.businesstimes.com.sg/property/us-mortgage-rates-drop-again-lowest-level-april-2023
Soaring insurance costs could ‘end’ affordable housing in US, developers warn
https://www.businesstimes.com.sg/property/soaring-insurance-costs-could-end-affordable-housing-us-developers-warn
Apple cuts jobs in digital services groups as priorities shift
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/apple-cuts-jobs-digital-services-groups-priorities-shift
https://www.straitstimes.com/business/companies-markets/apple-cuts-about-100-jobs-in-online-services-group-as-priorities-shift
https://www.channelnewsasia.com/business/apple-cuts-about-100-jobs-its-services-division-bloomberg-news-reports-4571326
UBS sees growth in all Asia regions
https://www.businesstimes.com.sg/international/ubs-sees-growth-all-asia-regions
https://www.straitstimes.com/business/ubs-sees-growth-in-all-asia-regions-as-singapore-and-australia-lead-the-way-in-second-quarter
No better time than now to invest in Asean
https://www.businesstimes.com.sg/international/global/no-better-time-now-invest-asean
Australian inflation cools, RBA set to retain hawkish bias
https://www.businesstimes.com.sg/international/australian-inflation-cools-rba-set-retain-hawkish-bias
China’s empty office glut supercharges Hilton’s expansion plans
https://www.businesstimes.com.sg/international/global/chinas-empty-office-glut-supercharges-hiltons-expansion-plans
https://www.straitstimes.com/business/china-s-empty-office-glut-supercharges-hilton-s-expansion-plans
UBS lowers China growth forecasts on deeper property downturn
https://www.businesstimes.com.sg/international/ubs-lowers-china-growth-forecasts-deeper-property-downturn
China Resources Land posts record decline in its interim profit amid housing market torpor
https://www.scmp.com/business/china-business/article/3276190/china-resources-land-posts-record-decline-its-interim-profit-amid-housing-market-torpor
Dubai, Abu Dhabi ranked best spots for globetrotting executives
https://www.businesstimes.com.sg/international/global/dubai-abu-dhabi-ranked-best-spots-globetrotting-executives
Hong Kong police arrest 27 in money-laundering blitz, with some cases linked to US, Singapore
https://www.scmp.com/news/hong-kong/law-and-crime/article/3276301/hong-kong-police-arrest-27-money-laundering-blitz-some-cases-linked-us-singapore
Hong Kong MTR Corp’s creditworthiness downgraded on soft property market, funding needs
https://www.scmp.com/news/hong-kong/transport/article/3276306/hong-kong-mtr-corps-credit-rating-downgraded-soft-property-market-funding-concerns
Betting on Chinese demand, Hong Kong developers turn to rental market
https://www.businesstimes.com.sg/property/betting-chinese-demand-hong-kong-developers-turn-rental-market
https://www.channelnewsasia.com/business/betting-chinese-demand-hong-kong-developers-turn-rental-market-4571791
Hong Kong transitional housing estate operator ordered to inspect all flats after water leak
https://www.scmp.com/news/hong-kong/society/article/3276204/hong-kong-transitional-housing-estate-operator-ordered-inspect-all-flats-after-water-leak
Hong Kong home prices drop faster in July
https://www.businesstimes.com.sg/property/hong-kong-home-prices-drop-faster-july
https://www.scmp.com/business/article/3276182/hong-kongs-july-used-home-price-index-drops-8-year-low-amid-tepid-property-market
Hong Kong sales plan for 2024 subsidised flats revealed, but is deal sweet enough to tempt?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3276149/hong-kong-sales-plan-2024-subsidised-flats-revealed-deal-sweet-enough-tempt
BOJ deputy governor sees rate hike justified if outlook realised
https://www.businesstimes.com.sg/companies-markets/banking-finance/boj-deputy-governor-sees-rate-hike-justified-if-outlook-realised
Malaysia weighs bringing back GST to boost finances
https://www.businesstimes.com.sg/international/asean/malaysia-weighs-bringing-back-gst-boost-finances
Sky-high rents have Mumbai residents living on the edge
https://www.businesstimes.com.sg/property/sky-high-rents-have-mumbai-residents-living-edge
Thailand steps up regulation of Chinese goods as cheap imports roil economy
https://www.businesstimes.com.sg/international/asean/thailand-steps-regulation-chinese-goods-cheap-imports-roil-economy
Thai central bank says growth outlook below potential
https://www.channelnewsasia.com/business/thai-central-bank-says-growth-outlook-below-potential-4571531
Starmer, Scholz seek reset in British-EU ties with bilateral treaty
https://www.businesstimes.com.sg/international/starmer-scholz-seek-reset-british-eu-ties-bilateral-treaty
UK’s richest face prospect of sharp Labour tax hikes on wealth
https://www.businesstimes.com.sg/international/global/uks-richest-face-prospect-sharp-labour-tax-hikes-wealth
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.