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.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.
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.
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
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.
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.
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.
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.
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.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.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.
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.zaobao.com.sg/realtime/singapore/story20250203-5824873
Global Economy & Real Estate
Trump to speak with China’s Xi after hiking tariffs: White House
Trump pauses Canada, Mexico tariffs after last-ditch talks
Trump says Americans may feel ‘pain’ in trade war with Mexico, Canada, China; vows to slap tariffs on EU
Higher prices, supply chain disruptions: Trump’s tariff war could ‘end very badly’, say analysts
Fed official says Trump policies could slow rate cuts amid mounting uncertainty
US manufacturing rebounds, tariffs could derail tentative recovery
Factory activity slowed across Asia before 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
Facing Trump tariffs, China’s exporters hunker down for long, winding Year of the Snake
Dubai adds new US$100 million mansions to lure world’s 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.channelnewsasia.com/business/hong-kongs-economic-growth-slows-25-2024-4912806
Year of the Snake: rare deals, distressed sales to prevail in 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
KKR, Gaw look to sell Tokyo Hyatt Regency for over 100 billion yen
Moscow property rivals London as rich Russians bring cash home
New Zealand government mulls changes to 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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