DAILY NEWS

SINGAPORE REAL ESTATE

Government raises supply of industrial land with seven hectares offered for H1 2023
The industrial government land sales programme for the first half of 2023 has been launched with a total site area of 7.16 hectares (ha), up from the previous 6.36 ha released in the last launch. This round includes four sites on the confirmed list and three sites on the reserve list, said the Ministry of Trade and Industry on Wednesday (Dec 28).
https://www.businesstimes.com.sg/property/government-raises-supply-industrial-land-seven-hectares-offered-h1-2023
 
Office investment sales headed for slow start in 2023 amid price gap, higher borrowing costs
The market for big-ticket sales of office assets is heading for a slow start in 2023 – after a weak performance in the last two quarters of this year. A significant buyer-seller price gap will continue to be a major hurdle in sealing deals – especially for income-generating office assets.
https://www.businesstimes.com.sg/property/office-investment-sales-headed-slow-start-2023-amid-price-gap-higher-borrowing-costs
 
2023: An inflection point in Apac real estate markets?
As we move into a new year, the global economy is entering a challenging phase with a substantial increase in risk factors impacting investors and occupiers. The real estate industry is at the heart of the current economic situation, with a sharp slowdown in activity and notable value adjustments resulting from the rapid shift in the outlook for interest rates and inflation.
https://www.businesstimes.com.sg/property/2023-inflection-point-apac-real-estate-markets

SINGAPORE ECONOMY

Budget 2023 statement to be delivered on Feb 14 by DPM Lawrence Wong
Singapore — Deputy Prime Minister Lawrence Wong will deliver Singapore’s next Budget Statement on Feb 14 in Parliament, the Ministry of Finance (MOF) said on Thursday (Dec 29). There will be live television and radio coverage of the Budget statement, which will be Mr Wong’s second as finance minister.
https://www.todayonline.com/singapore/budget-2023-statement-be-delivered-feb-14-dpm-lawrence-wong-2081536
https://www.businesstimes.com.sg/singapore/dpm-wong-deliver-2023-budget-statement-feb-14
https://www.straitstimes.com/singapore/singapore-s-budget-2023-to-be-delivered-on-february-14
https://www.todayonline.com/singapore/budget-2023-statement-be-delivered-feb-14-dpm-lawrence-wong-2081536
 
Carbon tax hike a ‘strong signal’ Singapore is serious about green targets: Tan See Leng
Singapore’s carbon tax rate hike sends a strong signal to the world that the Republic “means business” about reaching its ambitious climate goal of achieving net zero emissions by or around the middle of the century, said Second Minister for Trade and Industry Tan See Leng on Monday (Feb 21).
https://www.businesstimes.com.sg/international/carbon-tax-hike-strong-signal-singapore-serious-about-green-targets-tan-see-leng

COMPANIES’ BRIEF

CapitaLand Investment and JV partner to divest Pune IT park to CapitaLand India Trust for 13.5b rupees
A wholly owned subsidiary of CapitaLand Investment (CLI) and its joint venture (JV) partner have agreed to divest International Tech Park Pune, Hinjawadi (ITPP-H) to CapitaLand India Trust for 13.5 billion rupees (S$221.9 million). The sale consideration represents a premium of some 9 per cent to CLI’s valuation for the site in December 2021, CLI said in a bourse filing on Thursday.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-and-jv-partner-divest-pune-it-park-capitaland-india-trust
https://www.straitstimes.com/business/capitaland-investment-and-jv-partner-to-divest-pune-it-park-to-capitaland-india-trust-for-2219m
 
Mercatus confirms sale of Singapore malls to Link Reit for S$2.16b
Link Real Estate Investment Trust (Reit), Asia’s biggest Reit, will buy a portfolio of assets from Singapore shopping mall owner NTUC Enterprise Co-operative for S$2.16 billion, NTUC unit Mercatus Co-operative confirmed on Wednesday (Dec 28).
https://www.businesstimes.com.sg/companies-markets/mercatus-confirms-sale-singapore-malls-link-reit-s216b
https://www.straitstimes.com/business/hong-kong-s-link-reit-buys-jurong-point-thomson-plaza-retail-space-for-216b-from-ntuc-enterprise
https://www.channelnewsasia.com/business/link-reit-buys-jurong-point-thomson-plaza-retail-space-mercatus-ntuc-enterprise-cooperative-3171291

GLOBAL ECONOMY & GLOBAL REAL ESTATE