The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 5 May 2023 (Fri)

Singapore Real Estate


Tanah Merah and Bedok: nexus of east region transformation
The Tanah Merah/Bedok area in District 16 is positioned to capitalise on several urban transformation plans in the east of Singapore, from new residential plans in the Bayshore area along the East Coast, to a new residential town replacing Paya Lebar Airbase in the future.


Singapore has most expensive office fit-out costs in Southeast Asia
Singapore (EdgeProp) – According to Cushman & Wakefield’s 2023 Asia Pacific Office Fit-Out Cost Guide, average fit-out costs across Asia Pacific have increased. In Southeast Asia, Singapore has the most expensive fit-out cost.


MCC Land runs ‘one price’ promotion for select units at Sceneca Residence, saving up to $144,000 for buyers
The 268-unit development by MCC Land comprises two residential towers – 14 and 15 storeys high, respectively – with one- to four-bedroom units, as well as four-bedroom penthouses. The condo also features several amenities such as a 50m lap pool, a family lounge, a resident clubhouse, function rooms and pavilions.



Companies’ Brief


LHN warns profit decline of 47% for H1 2023
Real estate management services provider LHN expects to see a lower net profit before tax for the first half of its financial year ended Mar 31, 2023, of at least approximately S$19 million. This is a decline of over 47 per cent compared to the S$35.9 million in net profit before tax over the same period a year ago, said LHN in a bourse filing on Thursday (May 4)…


OUE Commercial Reit Q1 NPI rises 18% to S$56.6 million
Net property income (NPI) for OUE Commercial Reit (real estate investment trust) came in at S$56.6 million in the first quarter of 2023, an 18 per cent increase from the same period a year ago.



Global Economy & Real Estate


WHO experts mull Covid emergency status


US trade deficit falls in March on rise in exports


US new home listings plunge 21% with higher rates spooking sellers


US homeowners hold near-record equity even after price declines


UK businesses raise prices to pass on higher wage costs: PMI


Epstein’s islands sell to finance buyer planning luxury resort


New York City will finally turn a hotel into housing


UK mortgage lending stalls for first time since pandemic in 2021


ECB raises rates by 25 bps in inflation fight


German exports fall significantly more than expected in March


Australia to deliver first budget surplus in 15 years, Sky News reports


China’s services activity expands as consumers return: Caixin PMI


China’s holiday home sales fall sharply against pre-Covid level: survey


China’s second-richest province goes big into green economy, innovation


Hong Kong March retail sales jump 40.9% in fourth month of growth


Hong Kong should reduce fiscal deficit gradually: IMF


Hong Kong watchdog warns of potential conflict of interest between developers and management firms in private housing properties


Hong Kong homebuyers ignore rising interest rates as they snap up flats at Sun Hung Kai Properties’ University Hill project in Tai Po


Efforts to preserve woodland and meet flat supply target may spark changes to planning rules at public housing site on Hong Kong golf course, experts say


Hines acquires five more multi-family properties in Japan



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.

Scroll to Top