Singapore Real Estate
Unlimited sea access, affordable housing among S’poreans’ wishes for upcoming Long Island
Singapore – Continued unlimited access to the sea, affordable housing and educational opportunities centred on coastal habitats are among the ideas and suggestions that Singaporeans have given at engagements on the Long Island reclamation project to be developed off East Coast.
https://www.straitstimes.com/singapore/unlimited-sea-access-affordable-housing-among-s-poreans-wishes-for-upcoming-long-island
CDL buys Delfi Orchard in en bloc deal for S$439 million
City Developments Ltd (CDL) has bought over Delfi Orchard, a 40-year-old strata-titled building of which it already owns the majority share, for S$439 million. This was just a shade above the guide price of S$438 million when the site was launched for collective sale in mid-April.
https://www.businesstimes.com.sg/property/cdl-buys-delfi-orchard-en-bloc-deal-s439-million
https://www.straitstimes.com/business/cdl-unit-buys-delfi-orchard-in-439m-collective-sale
Open-concept HDB White Flats offer more ‘free play’ but resale values could be affected, designers say
Singapore: When Ms Nad selected her four-room Build-to-Order (BTO) unit in July 2020, she already envisioned a home that would look vastly different from other public housing flats.
https://www.channelnewsasia.com/singapore/hdb-white-flats-resale-interior-designers-4368151
Business News
Citi Private Bank sees opportunities in S’pore, region in 2024 as it completes most of job cuts
Singapore – Citi Private Bank has completed most of its job cuts and is optimistic about 2024 as it gains new clients in Singapore as well as the region, and grows its core assets under management by double-digits.
https://www.straitstimes.com/business/citi-private-bank-sees-growth-opportunities-in-s-pore-and-the-region-in-2024-most-job-cuts-done
Mapletree Investments in the red with S$577.2 million full-year loss on valuation decline
Mapletree Investments posted a net loss of S$577.2 million for the financial year ended Mar 31 amid industry headwinds, compared with a S$1.2 billion net profit last year. This comes as a high-interest environment led to expansion in real estate capitalisation rates in most markets, which in turn resulted in revaluation losses for the year, said the global real estate giant on Tuesday (May 28).
https://www.businesstimes.com.sg/companies-markets/mapletree-investments-red-s577-2-million-full-year-loss-valuation-decline
https://www.straitstimes.com/business/companies-markets/mapletree-investments-in-the-red-with-5772-million-full-year-loss-on-valuation-decline
Wee Hur in ‘sweet spot’ to capitalise on student housing boom
Singapore – Being in the right business in the right place at the right time is often the secret sauce for success. One company which seems to have all three things right is Wee Hur Holdings. Listed on the Singapore Exchange mainboard in 2009, the company started out in the construction business.
https://www.straitstimes.com/business/wee-hur-in-sweet-spot-to-capitalise-on-student-housing-boom
Views, Reviews, Forum and Others
Vehicle entry permits mandatory for Singapore vehicles entering Malaysia from Oct 1
Malaysia will require all foreign-registered vehicles entering the country by land from Singapore to use vehicle entry permits (VEPs) from Oct 1, said Malaysian Transport Minister Anthony Loke. Action will be taken against any foreign motor vehicle without a VEP entering or in Malaysia from that date, he said at a press conference on Tuesday (May 28).
https://www.todayonline.com/news/vehicle-entry-permits-mandatory-singapore-vehicles-entering-malaysia-oct-1-2430896
https://www.channelnewsasia.com/asia/malaysia-vehicle-entry-permit-vep-singapore-october-1-anthony-loke-4367976
https://www.channelnewsasia.com/asia/malaysia-johor-vep-vehicle-entry-permit-rfid-tag-install-guide-singapore-4368606
New Novavax Covid-19 vaccine available for free at selected clinics in S’pore
Singapore – A new Covid-19 vaccine is available under the National Vaccination Programme (NVP) from May 28, the Ministry of Health (MOH) said in a statement on the same day. Called the Novavax/Nuvaxovid XBB.1.5 Covid-19 vaccine, it will be free for eligible individuals at any participating general practitioner (GP) clinics offering Covid-19 vaccinations.
https://www.straitstimes.com/singapore/new-novavax-covid-19-vaccine-to-be-made-available-for-free-at-selected-clinics-in-s-pore
https://www.channelnewsasia.com/singapore/covid-19-novavax-vaccine-jab-free-xbb-1-5-clinics-4368041
Global Economy & Real Estate
US consumer confidence unexpectedly improves in May
https://www.businesstimes.com.sg/international/us-consumer-confidence-unexpectedly-improves-may
US house price inflation slows in March
https://www.businesstimes.com.sg/property/us-house-price-inflation-slows-march
Mortgages stuck around 7% force rapid rethink of American dream
https://www.businesstimes.com.sg/property/mortgages-stuck-around-7-force-rapid-rethink-american-dream
Australia retail sales grow at a snail’s pace in April
https://www.businesstimes.com.sg/international/australia-retail-sales-grow-snails-pace-april
https://www.channelnewsasia.com/business/australia-retail-sales-grow-snails-pace-april-4367586
UBS signals it’s mostly done cutting Asia jobs after merger
https://www.businesstimes.com.sg/companies-markets/banking-finance/ubs-signals-its-mostly-done-cutting-asia-jobs-after-merger
https://www.straitstimes.com/business/ubs-signals-it-s-mostly-done-cutting-asia-jobs-after-credit-suiise-takeover
Blackstone buys US$1 billion mortgage portfolio from Germany’s PBB
https://www.businesstimes.com.sg/property/blackstone-buys-us1-billion-mortgage-portfolio-germanys-pbb
China’s property rescue to deliver modest GDP boost, survey shows
https://www.businesstimes.com.sg/international/global/chinas-property-rescue-deliver-modest-gdp-boost-survey-shows
https://www.straitstimes.com/business/china-s-property-rescue-to-deliver-just-small-gdp-boost-survey-shows
China’s top cities ease housing rules as Beijing extends aid
https://www.businesstimes.com.sg/property/chinas-top-cities-ease-housing-rules-beijing-extends-aid
https://www.straitstimes.com/business/shanghai-eases-housing-curbs-as-aid-spreads-to-big-cities
https://www.channelnewsasia.com/east-asia/shanghai-china-lifts-home-buying-curb-boost-property-sector-4367756
China’s housing rescue seen as too small to end crisis
https://www.businesstimes.com.sg/property/chinas-housing-rescue-seen-too-small-end-crisis
China Evergrande’s liquidators seek investors for restructuring
https://www.businesstimes.com.sg/property/china-evergrandes-liquidators-seek-investors-restructuring
Luxury influencers vanish from Chinese social media in wealth crackdown
https://www.businesstimes.com.sg/international/luxury-influencers-vanish-chinese-social-media-wealth-crackdown
Eurozone consumers lower inflation expectation, ECB survey shows
https://www.businesstimes.com.sg/international/eurozone-consumers-lower-inflation-expectation-ecb-survey-shows
Explainer: Some travel hot spots are imposing surcharges to curb overtourism. Does this mean travellers have to keep paying more?
https://www.todayonline.com/news/explainer-some-travel-hot-spots-are-imposing-surcharges-curb-overtourism-does-mean-travellers-have-keep-paying-more-2430431
Hong Kong homes in on Middle East, Indonesia to attract family offices as city steps up efforts, InvestHK says
https://www.scmp.com/business/money/article/3264314/hong-kong-hones-middle-east-indonesia-attract-family-offices-city-steps-efforts-investhk-says?module=top_story&pgtype=subsection
Hong Kong’s rich turn to alternative assets for diversification, returns after stocks and property underperform: survey
https://www.scmp.com/business/banking-finance/article/3264408/hong-kongs-rich-turn-alternative-assets-diversification-returns-after-stocks-and-property
Japan’s business service prices rise at fastest annual pace since March 2015
https://www.businesstimes.com.sg/international/japans-business-service-prices-rise-fastest-annual-pace-march-2015
https://www.channelnewsasia.com/business/japans-business-service-prices-rise-fastest-annual-pace-march-2015-4367531
BOJ’s underlying inflation measures in April all fall below 2%
https://www.channelnewsasia.com/business/bojs-underlying-inflation-measures-april-all-fall-below-2-4367936
Malaysia targets RM500 billion semiconductor investment, levels up chip manufacturing
https://www.businesstimes.com.sg/international/asean/malaysia-targets-rm500-billion-semiconductor-investment-levels-chip-manufacturing
New Zealand seen posting bigger budget deficits, borrowing more
https://www.businesstimes.com.sg/international/new-zealand-seen-posting-bigger-budget-deficits-borrowing-more
New Zealand central bank to activate debt-to-income tool to reduce high-risk lending
https://www.businesstimes.com.sg/companies-markets/banking-finance/new-zealand-central-bank-activate-debt-income-tool-reduce-high-risk-lending
Thai Cabinet approves plan for 2024 budget boost to fund 500 billion baht handout
https://www.businesstimes.com.sg/international/asean/thai-cabinet-approves-plan-2024-budget-boost-fund-500-billion-baht-handout
Commentary: Good reasons for Thailand’s economic stimulus
https://www.channelnewsasia.com/commentary/thailand-baht-pm-srettha-economic-stimulus-digital-wallet-4368176
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