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The Leading Professional and Representative Body for the Real Estate Industry

DAILY NEWS

 

Daily News 4 February 2025 (Tue)

Singapore Real Estate / Built Environment

 

Freehold Tan Boon Liat Building site up for sale for S$1.15 billion, may be rezoned for residential use

Tan Boon Liat Building has been put up for collective sale at S$1.15 billion with the Urban Redevelopment Authority (URA) expected to support the rezoning of the industrial site for residential with commercial use.

https://www.businesstimes.com.sg/property/freehold-tan-boon-liat-building-site-sale-s1-15-billion-may-be-rezoned-residential-use

https://www.straitstimes.com/business/property/tan-boon-liat-building-up-for-collective-sale-at-1-15-billion-site-may-be-rezoned-for-residential

https://www.zaobao.com.sg/realtime/singapore/story20250203-5820931

 

Budget wishes for housing: Raise income ceiling and drop mortgage servicing ratio for executive condos

Young Singaporeans can consider themselves fortunate – buying a subsidised Housing and Development Board (HDB) flat gives them a good home to live in that will appreciate in value.

https://www.businesstimes.com.sg/opinion-features/budget-wishes-housing-raise-income-ceiling-and-drop-mortgage-servicing-ratio-executive-condos

 

All HDB estates to use heat-reflective paint to mitigate urban heat

Heat-reflective paint will be applied to all existing Housing and Development Board (HDB) estates as part of efforts to reduce urban heat and enhance residents’ comfort. The S$60 million (US$43.8 million) initiative will be rolled out by 2030, building on a successful pilot in Tampines.

https://www.channelnewsasia.com/singapore/hdb-green-towns-programme-cool-coatings-paint-all-estates-urban-heat-4912396

https://www.straitstimes.com/singapore/housing/heat-reflective-paint-initiative-to-be-rolled-out-to-all-hdb-estates-by-2030

 

 

Singapore Economy/News

 

PM Wong to deliver Budget 2025 statement at 3.30 pm on Feb 18

Prime Minister and Finance Minister Lawrence Wong will deliver Singapore’s Budget 2025 statement at 3.30 pm in Parliament on Feb 18, the Ministry of Finance (MOF) said on Monday (Feb 3).

https://www.businesstimes.com.sg/singapore/pm-wong-deliver-budget-2025-statement-3-30-pm-feb-18

https://www.straitstimes.com/singapore/budget-2025-pm-wong-to-deliver-feb-18-speech-at-3-30pm

https://www.channelnewsasia.com/singapore/pm-lawrence-wong-deliver-singapore-2025-budget-statement-parliament-feb-18-4912286

 

Singapore factory activity cools in January, amid region-wide slowdown

Singapore’s overall factory activity dipped marginally in January, mirroring a regional slowdown for the manufacturing sector.

https://www.businesstimes.com.sg/singapore/singapore-factory-activity-cools-january-amid-region-wide-slowdown

https://www.straitstimes.com/business/factories-in-singapore-and-across-asia-bracing-themselves-for-impact-from-trumps-tariffs

 

Five key themes shaping Singapore’s economic outlook in 2025

Singapore’s economy is poised to remain dynamic in 2025, navigating through challenges such as geopolitical tensions and economic uncertainties while capitalising on favourable global trends.

https://www.businesstimes.com.sg/singapore/economy-policy/five-key-themes-shaping-singapores-economic-outlook-2025

 

Trump’s tariffs and their ripple effect on Singapore’s economy

Singapore’s open, trade-dependent economy could face slower growth and weaker business sentiment, even though it is not directly targeted by the latest US tariffs announced over the weekend. Analysts said on Monday (Feb 3) that the 10 per cent tariffs on Chinese goods will have a greater impact on Singapore than the 25 per cent tariffs on Canadian and Mexican imports.

https://www.channelnewsasia.com/singapore/trump-tariffs-china-us-singapore-impact-4913021

 

Nearly half of Singapore’s 2015 election rally sites no longer exist

Physical election rallies are expected to make a comeback this year, a decade since Singapore last held them. But new sites may need to be identified, after CNA found that almost half of those used in the 2015 General Election no longer exist, with housing and other infrastructure developments now in their place.

https://www.channelnewsasia.com/singapore/general-election-rallies-campaigning-physical-online-ge2025-4900711

 

 

Business News

 

CapitaLand Investment to seed future data centre fund with US$700m investment in Japan

Asset manager CapitaLand Investment (CLI) will invest more than US$700 million in a freehold land parcel in Osaka, Japan, to develop a data centre with 50 megawatts (MW) of capacity.

https://www.businesstimes.com.sg/companies-markets/capitaland-investment-seed-future-data-centre-fund-us700m-investment-japan

https://www.straitstimes.com/business/companies-markets/capitaland-investment-to-invest-944-million-to-develop-first-data-centre-in-japan

 

Keppel Infrastructure Trust posts 54.2% lower H2 DPU of S$0.0195

Keppel Infrastructure Trust (KIT) on Tuesday (Feb 4) posted a 54.2 per cent lower distribution per unit (DPU) of S$0.0195 for the second half ended Dec 31, from S$0.0426 in the year-ago period.

https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-posts-54-2-lower-h2-dpu-s0-0195

https://www.zaobao.com.sg/realtime/singapore/story20250204-5825445

 

Keppel Pacific Oak US Reit posts 8.8% fall in distributable income to US$23.8 million for H2

The manager of Keppel Pacific Oak US Reit (Kore) on Tuesday (Feb 4) posted an 8.8 per cent fall in distributable income to US$23.8 million for H2 ended Dec 31, from US$26.1 million in the previous corresponding period.

https://www.businesstimes.com.sg/companies-markets/keppel-pacific-oak-us-reit-posts-8-8-fall-distributable-income-us23-8-million-h2

https://www.zaobao.com.sg/realtime/singapore/story20250204-5825363

 

Lendlease Global Commercial Reit reports 14.3% lower H1 DPU of S$0.018

Distribution per unit (DPU) for Lendlease Global Commercial Real Estate Investment Trust (LREIT) fell 14.3 per cent to S$0.018 for its first half ended Dec 31, 2024, from S$0.021 in the corresponding period the year before.

https://www.businesstimes.com.sg/companies-markets/lendlease-global-commercial-reit-reports-14-3-lower-h1-dpu-s0-018

 

Gordon Tang and wife extend closing date of cash offer for Suntec Reit to Feb 7

The closing date of the mandatory conditional cash offer made by property tycoon Gordon Tang and his wife Celine to acquire all units of Suntec Real Estate Investment Trust (Reit) has been extended to 5.30 pm on Feb 7.

https://www.businesstimes.com.sg/companies-markets/gordon-tang-and-wife-extend-closing-date-cash-offer-suntec-reit-feb-7

https://www.zaobao.com.sg/realtime/singapore/story20250203-5824873

 

 

Global Economy & Real Estate

 

Trump to speak with China’s Xi after hiking tariffs: White House

https://www.businesstimes.com.sg/international/trump-speak-chinas-xi-after-hiking-tariffs-white-house

 

Trump pauses Canada, Mexico tariffs after last-ditch talks

https://www.businesstimes.com.sg/international/trump-pauses-canada-mexico-tariffs-after-last-ditch-talks

https://www.straitstimes.com/world/united-states/trump-pauses-tariffs-on-mexico-and-canada-but-not-china

https://www.channelnewsasia.com/world/mexico-and-canada-say-trump-will-pause-tariffs-one-month-4913646

 

Trump says Americans may feel ‘pain’ in trade war with Mexico, Canada, China; vows to slap tariffs on EU

https://www.businesstimes.com.sg/international/trump-says-americans-may-feel-pain-trade-war-mexico-canada-china-vows-slap-tariffs-eu

 

Higher prices, supply chain disruptions: Trump’s tariff war could ‘end very badly’, say analysts

https://www.channelnewsasia.com/world/trump-tariffs-trade-war-canada-china-mexico-prices-global-supply-chain-4912966

 

Fed official says Trump policies could slow rate cuts amid mounting uncertainty

https://www.straitstimes.com/business/economy/fed-officials-warn-of-inflation-risks-from-tariff-surge

 

US manufacturing rebounds, tariffs could derail tentative recovery

https://www.businesstimes.com.sg/international/us-manufacturing-rebounds-tariffs-could-derail-tentative-recovery

 

Factory activity slowed across Asia before trade war kicked off

https://www.businesstimes.com.sg/international/global/factory-activity-slowed-across-asia-trade-war-kicked

https://www.straitstimes.com/business/economy/factory-activity-slowed-across-asia-before-trumps-trade-war-kicked-off

 

California, Santa Monica hotels seek valuation at US$2 million a room

https://www.businesstimes.com.sg/property/santa-monica-hotels-seek-valuation-us2-million-room

 

China factory activity growth slows in January, Caixin PMI shows

https://www.channelnewsasia.com/business/china-factory-activity-growth-slows-january-caixin-pmi-shows-4912211

https://www.scmp.com/economy/china-economy/article/3297120/chinas-factory-activity-growth-slows-again-trump-tariffs-loom

 

Facing Trump tariffs, China’s exporters hunker down for long, winding Year of the Snake

https://www.scmp.com/economy/global-economy/article/3297191/facing-trump-tariffs-chinas-exporters-hunker-down-long-winding-year-snake

 

Dubai adds new US$100 million mansions to lure world’s ultra rich

https://www.businesstimes.com.sg/property/dubai-adds-new-us100-million-mansions-lure-worlds-ultra-rich

 

EU leaders vow to hit back if Trump triggers trade war

https://www.businesstimes.com.sg/international/eu-leaders-vow-hit-back-if-trump-triggers-trade-war

https://www.channelnewsasia.com/world/trump-trade-threats-overshadow-european-defence-meet-4913846

 

Hong Kong economy slows in 2024 as spending, property woes weigh

https://www.businesstimes.com.sg/international/hong-kong-economy-slows-2024-spending-property-woes-weigh

https://www.channelnewsasia.com/business/hong-kongs-economic-growth-slows-25-2024-4912806

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3297174/hong-kong-economy-grows-25-2024-line-forecasts

 

Year of the Snake: rare deals, distressed sales to prevail in Hong Kong property

https://www.scmp.com/business/article/3297071/year-snake-rare-deals-distressed-sales-prevail-hong-kong-property

 

Indonesia’s Jan inflation at 0.76% y/y, lowest since 2000

https://www.channelnewsasia.com/business/indonesias-jan-inflation-076-yy-lowest-2000-4912426

 

Japan’s underlying inflation approaching 2%, economy minister says

https://www.channelnewsasia.com/business/japans-underlying-inflation-approaching-2-economy-minister-says-4912566

 

KKR, Gaw look to sell Tokyo Hyatt Regency for over 100 billion yen

https://www.businesstimes.com.sg/international/global/kkr-gaw-look-sell-tokyo-hyatt-regency-over-100-billion-yen

 

Moscow property rivals London as rich Russians bring cash home

https://www.businesstimes.com.sg/property/moscow-property-rivals-london-rich-russians-bring-cash-home

 

New Zealand government mulls changes to corporate tax settings

https://www.businesstimes.com.sg/international/new-zealand-government-mulls-changes-corporate-tax-settings

 

Thai finance ministry wants to see rates cut this year

https://www.channelnewsasia.com/business/thai-finance-ministry-wants-see-rates-cut-year-4912846

 

UN begins talks toward ‘fair’ tax accord

https://www.businesstimes.com.sg/international/un-begins-talks-toward-fair-tax-accord

 

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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.

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