Singapore Real Estate / Built Environment
10,000-seater stadium, indoor pools and sheltered courts among new sports facilities in Toa Payoh
In a major rejuvenation of Toa Payoh town, residents will get to enjoy a slew of indoor and sheltered sports facilities – alongside a 10,000-seater stadium and community amenities – when the Toa Payoh Integrated Development (TPID) is completed by 2030.
https://www.zaobao.com.sg/news/singapore/story20250105-5690229
Singapore retail sales unexpectedly dip 0.7% in November, with mixed performance across industries
Singapore’s retail sales unexpectedly shrank 0.7 per cent on year last November, reversing from the 2.4 per cent growth logged in October, based on Department of Statistics (SingStat) data released on Friday (Jan 3).
S’pore banks see rise in mortgage refinancing after rate cuts in 2024
Mortgage loan refinancing and repricing activity by private home owners and Housing Board flat owners picked up significantly in 2024 after fixed mortgage loan rates fell below 3 per cent from the second quarter.
Bagnall Haus draws 1,500 visitors on first weekend of preview
Over the weekend of Jan 4-5, the sales gallery of Bagnall Haus at Upper East Coast drew 1,500 visitors. Many of the visitors were groups of families, mainly existing residents in the East, says Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, the developer of Bagnall Haus.
https://www.edgeprop.sg/property-news/bagnall-haus-draws-1500-visitors-first-weekend-preview
https://www.edgeprop.sg/property-news/bagnall-haus-draws-1500-visitors-first-weekend-preview
Singapore News
PM Wong to visit Malaysia for retreat with Anwar, Johor-Singapore SEZ deal signing
Prime Minister Lawrence Wong will make a two-day official visit to Malaysia’s administrative capital Putrajaya to attend the 11th Malaysia-Singapore Leaders’ Retreat, during which the two countries are expected to sign an agreement to formalise the Johor-Singapore Special Economic Zone (JS-SEZ).
https://www.zaobao.com.sg/news/singapore/story20250105-5689165
We will continue to provide more help for Singaporeans: PM Wong
Singapore – More help will be provided to Singaporeans in February, when the new Budget is announced. During a visit to Jalan Besar GRC on Jan 4, Prime Minister Lawrence Wong said he knows that many Singaporeans are concerned about challenges such as the cost of living, and the Government is dealing with that head-on.
Singapore should still see real wage growth in 2025, but probably less than in 2024
Singapore should see sustained real wage growth in 2025, as inflation cools and productivity gains allow for higher nominal pay. But whether this is better or worse than in 2024 remains uncertain.
Business News
Frasers Hospitality Trust soars around 40% in one month
Frasers Hospitality Trust’s stapled securities have surged around 40 per cent in one month. They were trading at S$0.42 on Nov 29, 2024, and then rose to S$0.59 on Dec 31 – a 40.4 per cent jump; these securities closed at S$0.55 on Friday (Jan 3), down 3.5 per cent or S$0.02.
First look at Keppel’s centralised cooling system in Tengah: Level pipes, kitchen entry
Global asset manager Keppel is taking its first plunge into the centralised cooling system pioneered at Tengah with a configuration that will enter through the kitchen and run under the beam where possible.
Mapletree Logistics Trust to divest Malaysia property for RM31.5 million
Mapletree Logistics Trust (MLT) has entered an agreement, through its special purpose vehicle in Malaysia, to divest Subang 2 for RM31.5 million (S$9.6 million) to an unrelated third party.
Perennial’s hospitals target wealthy boomers in China
Perennial now operates two developments that integrate hospitals, rehabilitation facilities and other amenities in China, in the northern city of Tianjin and southwestern leisure and tourism capital Chengdu.
Views, Reviews, Forum and Others
Be wary of scammers posing as Singapore govt officials, say police
Singapore – Singaporeans who get calls from scammers claiming to be government officials should be wary and not transfer any money to them, said the police.
https://www.straitstimes.com/singapore/be-wary-of-conmen-posing-as-mddi-officials-say-police
S’pore condemns terrorist attack in New Orleans; no Singaporeans affected: MFA
Singapore – Singapore “strongly condemns” the terrorist attack in New Orleans, Louisiana, in the US on Jan 1, said the Ministry of Foreign Affairs (MFA) in a statement on Jan 4.
Global Economy & Real Estate
US mortgage rates approach 7% in ominous sign for housing market
https://www.businesstimes.com.sg/property/us-mortgage-rates-approach-7-ominous-sign-housing-market
China’s central bank vows ‘moderately loose’ monetary policy
Mainland Chinese will remain bulk of tourists to Hong Kong for 5 years: minister
China gives government workers first big pay bump in a decade to boost economy
Slide in land sales persists as China’s property developers pushed to the brink
Shanghai’s December lived-in home sales increase to a 4-year high as incentives kick in
French budget deficit for 2025 will not be ‘much’ above 5%: minister
Hong Kong budget deficit to be just under HK$100 billion, financial chief says
Hong Kong property deals drop in December as slump thins agent ranks
Japan’s service activity expands on solid demand, PMI shows
New York City congestion pricing takes effect after years of delays
UK business confidence sinks to lowest since Liz Truss mini-budget: survey
Mortgage brokers made rate hikes more painful: Bank of England
https://www.businesstimes.com.sg/property/mortgage-brokers-made-rate-hikes-more-painful-bank-england
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.