The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News – 29 May 2024 (Wed)

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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