Singapore Real Estate / Built Environment
One-off property tax rebate in 2025 for owner-occupiers to soften cost-of-living pains
Owner-occupiers of residential properties will get a one-off property tax rebate in 2025, to help mitigate cost-of-living concerns, said the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) on Friday (Nov 29).
https://www.businesstimes.com.sg/property/one-property-tax-rebate-2025-owner-occupiers-soften-cost-living-pains
https://www.straitstimes.com/singapore/one-off-property-tax-rebate-in-2025-vast-majority-of-home-owners-will-see-lower-tax-bill
https://www.channelnewsasia.com/singapore/hdb-property-tax-2025-condo-private-property-iras-mof-4777191
https://www.zaobao.com.sg/realtime/singapore/story20241129-5417978
Boustead JV seen putting Como Orchard on the market, with S$680 million asking price
A Boustead Singapore-led joint venture is expected to put Como Orchard, a freehold hotel and retail building, on the market with an asking price of about S$680 million.
https://www.businesstimes.com.sg/property/boustead-jv-seen-putting-como-orchard-market-s680-million-asking-price
https://www.zaobao.com.sg/realtime/singapore/story20241130-5432853
Singapore hotel performance slips in post-F1 October
Singapore hotels’ performance slipped sequentially in October, following highs in September when the Formula 1 (F1) night race came to town, Singapore Tourism Board (STB) data showed on Friday (Nov 29). This came even as international visitor arrivals picked up for the month.
https://www.businesstimes.com.sg/singapore/singapore-hotel-performance-slips-post-f1-october
https://www.straitstimes.com/business/economy/singapore-hotel-performance-slips-in-post-f1-october
F&B business openings slow so far in 2024, but observers say industry remains attractive
Food and beverage (F&B) businesses have been opening at a slower rate in Singapore this year, but observers believe the industry remains attractive despite rising costs.
https://www.businesstimes.com.sg/singapore/fb-business-openings-slow-so-far-2024-observers-say-industry-remains-attractive
Forests being cleared for upcoming Sembawang, Woodlands HDB projects contain endangered wildlife
Singapore – Two forested areas in Singapore’s northern region that will be cleared for new housing projects have been found to contain endangered species of plants and animals, two recent studies have found.
https://www.straitstimes.com/singapore/studies-reveal-environmental-impact-of-upcoming-developments-in-sembawang-woodlands
Singapore Economy
Singapore needs to work ‘extra hard’ to maintain valuable ties with China amid uncertainty: SM Lee
There is anxiety on both sides of the US-China divide as a new American president gets ready to take over the White House, according to Senior Minister Lee Hsien Loong who had made recent visits to the two countries.
https://www.businesstimes.com.sg/singapore/singapore-needs-work-extra-hard-maintain-valuable-ties-china-amid-uncertainty-sm-lee
https://www.channelnewsasia.com/east-asia/us-china-trump-presidency-implications-singapore-engagement-4777756
Singapore’s energy sector to offer highest bonuses in 2025, transport firms lead salary increments: survey
Employers in Singapore’s energy and utilities sector are expected to offer the highest bonuses heading into 2025, with all respondents planning to award at least one month or more, according to a survey by recruitment agency ManpowerGroup.
https://www.businesstimes.com.sg/singapore/singapores-energy-sector-offer-highest-bonuses-2025-transport-firms-lead-salary-increments-survey
Business News
Property developer AVJennings attracts $326 million privatisation offer
Singapore and Sydney dual-listed property player AVJennings (AVJ), which is controlled by real estate tycoon Simon Cheong, is set to be taken private after American real estate fund Proprium Capital Partners made an offer at 67 Australian cents per share.
https://www.straitstimes.com/business/companies-markets/property-developer-avjennings-attracts-327-million-privatisation-offer
https://www.businesstimes.com.sg/companies-markets/property-developer-avjennings-attracts-326m-privatisation-offer-us-fund
https://www.zaobao.com.sg/realtime/singapore/story20241130-5431688
HSBC starts search for next chairman: report
HSBC’s board has appointed headhunters to start the recruitment of its next chairman, Sky News reported on Saturday (Nov 30), with incumbent Mark Tucker due to stand down by 2026.
https://www.businesstimes.com.sg/companies-markets/banking-finance/hsbc-starts-search-next-chairman-report
Views, Reviews, Forum and Others
Some firms roll out flexible work arrangements ahead of mandatory guidelines next month
Financial executive Michelle Hong recently began a special work arrangement with her employer Chye Thiam Maintenance, an environmental service provider.
https://www.channelnewsasia.com/singapore/flexible-work-arrangements-fwas-mandatory-snef-mom-employment-4777531
World’s first ‘four-in-one’ transport depot at Singapore’s East Coast nears completion, to open in 2026
External works for the world’s first four-in-one depot – and Singapore’s largest – is 98 per cent done, with the facility slated to open in 2026. The new East Coast Integrated Depot will feature three train depots stacked on top of each other alongside one bus depot, all within a single site. It will be able to hold up to 220 trains and over 500 buses.
https://www.channelnewsasia.com/singapore/east-coast-integrated-depot-bus-train-transport-4773726
https://www.straitstimes.com/singapore/transport/spores-biggest-train-and-bus-depot-on-course-to-open-in-2026-98-of-structural-works-done
JB-Singapore RTS Link: Installation of rail systems on track to start from end-2024
The installation of rail systems for the Johor Bahru-Singapore Rapid Transit System (RTS) Link is slated to begin from the end of 2024 as scheduled, with good progress being made on both sides of the Johor Strait.
https://www.straitstimes.com/singapore/transport/jb-singapore-rts-link-installation-of-rail-systems-on-track-to-start-from-end-2024
https://www.channelnewsasia.com/singapore/rts-link-construction-connecting-tel-woodlands-north-4777211
https://www.zaobao.com.sg/realtime/singapore/story20241129-5418824
Global Economy & Real Estate
Black Friday sales accelerate with online a bright spot
https://www.businesstimes.com.sg/international/black-friday-sales-accelerate-online-bright-spot
Anxious retailers look to deals, doorbusters to revive sales
https://www.businesstimes.com.sg/international/anxious-retailers-look-deals-doorbusters-revive-sales
Australian home prices rise at weakest pace in almost 2 years
https://www.businesstimes.com.sg/property/australian-home-prices-rise-weakest-pace-almost-two-years
Key Chinese economic indicator retains positive direction amid Trump tariff threat
https://www.scmp.com/economy/economic-indicators/article/3288790/key-chinese-economic-indicator-retains-positive-direction-amid-trump-tariff-threat
China’s factory activity continues expansion in sign of recovery
https://www.businesstimes.com.sg/international/chinas-factory-activity-continues-expansion-sign-recovery
https://www.channelnewsasia.com/east-asia/china-economy-factory-activity-november-2024-4779101
China new home prices rise at faster pace in November: survey
https://www.businesstimes.com.sg/property/china-new-home-prices-rise-faster-pace-november-survey
https://www.channelnewsasia.com/east-asia/china-new-home-prices-rise-faster-pace-november-survey-finds-4780186
China resumes multiple-entry visas for Shenzhen to Hong Kong
https://www.businesstimes.com.sg/international/china-resumes-multiple-entry-visas-shenzhen-hong-kong
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288881/shenzhen-residents-rush-secure-multiple-entry-visas-hong-kong-first-day
Eurozone consumers see inflation edge up slightly: ECB survey
https://www.businesstimes.com.sg/international/eurozone-consumers-see-inflation-edge-slightly-ecb-survey
Hong Kong October retail sales fall 2.9% y/y
https://www.businesstimes.com.sg/international/hong-kong-october-retail-sales-fall-2-9-yy
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288749/hong-kong-retail-sales-fall-8-straight-months-29-drop-october
‘Interested, but profits matter too’: Hong Kong developers react to Beijing’s North Metropolis call
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288789/hong-kongs-north-metropolis-megaproject-well-begun-not-yet-done-economists-say
Hong Kong developers to help fine-tune Northern Metropolis pilot land scheme
https://www.scmp.com/news/hong-kong/society/article/3288766/hong-kong-government-seek-developers-views-adjusting-northern-metropolis-land-disposal-scheme
16-year wait for Hong Kong public housing? Singles under 60 bemoan ‘negligent’ policies
https://www.scmp.com/news/hong-kong/society/article/3288882/16-year-wait-hong-kong-public-housing-singles-under-60-bemoan-negligent-policies
Hong Kong’s New World Development replaces CEO after just two months
https://www.businesstimes.com.sg/international/global/hong-kongs-new-world-development-replaces-ceo-after-just-two-months
https://www.straitstimes.com/business/companies-markets/new-world-ceo-to-leave-after-two-months-in-succession-saga
Indonesia to raise minimum wage in 2025 by 6.5%
https://www.businesstimes.com.sg/international/indonesia-raise-minimum-wage-2025-6-5
Japan government approves US$92 billion extra budget
https://www.businesstimes.com.sg/international/japan-government-approves-us92-billion-extra-budget
BOJ’s Ueda says wage trends key to possible rate hikes: Nikkei
https://www.businesstimes.com.sg/international/bojs-ueda-says-wage-trends-key-possible-rate-hikes-nikkei-reports
https://www.channelnewsasia.com/business/bojs-ueda-says-rate-hike-timing-approaching-nikkei-reports-4778726
Yen hits 6-week high after faster-than-expected inflation support bets for a Dec BOJ rate hike
https://www.businesstimes.com.sg/companies-markets/yen-hits-6-week-high-after-faster-expected-inflation-support-bets-dec-boj-rate-hike
https://www.channelnewsasia.com/business/yen-hits-six-week-high-dollar-dips-month-end-4777121
New York financial district’s hip mystery tower
https://www.businesstimes.com.sg/property/new-york-financial-districts-hip-mystery-tower
South Korea’s exports regain momentum on steady chip demand
https://www.businesstimes.com.sg/international/south-koreas-exports-regain-momentum-steady-chip-demand
Taiwan lifts 2025 GDP forecast despite Trump tariff threats
https://www.businesstimes.com.sg/international/taiwan-lifts-2025-gdp-forecast-despite-trump-tariff-threats
Thai economy improved in October on tourism, consumption and exports
https://www.businesstimes.com.sg/international/thai-economy-improved-october-tourism-consumption-and-exports
https://www.channelnewsasia.com/business/thai-economy-improved-october-tourism-consumption-and-exports-4777666
South Korea factory activity picks up on strong Asia demand: PMI
https://www.businesstimes.com.sg/international/global/south-korea-factory-activity-picks-strong-asia-demand-pmi
UK mortgage approvals rose again ahead of Labour’s budget
https://www.businesstimes.com.sg/property/uk-mortgage-approvals-rose-again-ahead-labours-budget
Britain’s jobs statistics crisis gives banks a growing headache
https://www.businesstimes.com.sg/companies-markets/britains-jobs-statistics-crisis-gives-banks-growing-headache
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