The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News 6, 7 & 8 July 2024 (Sat, Sun & Mon)

Singapore Real Estate/Built Environment


Mapletree Investments selling 20 Harbour Drive for S$160 million
Mapletree Investments is selling an eight-storey office building at 20 Harbour Drive to an entity linked to Keppel Education Asset Fund (KEAF) for S$160 million.


Singapore home buyers take a shine to mixed-use developments
Singapore – A 710 sq ft two-bedroom condominium unit at mixed-use development Pasir Ris 8 was sold at $1.49 million – or $2,101 per sq ft (psf) – in November 2023. This was a price almost 37 per cent higher than the launch price in 2021.


SingHaiyi-led group sells 23% of Jurong condo Sora’s total units at launch
Jurong Lake District’s latest residential development project Sora sold 102 – or 23.2 per cent – of its total units as at 6 pm on Sunday (Jul 7), during its launch weekend, at an average selling price of S$2,160 per square foot (psf), said its developers SingHaiyi and TK 189 Development.



Singapore Economy


Singapore to waive registration fee for short-term EV charger use
The Singapore government is reducing the regulatory burden and lowering costs for businesses by making the application process for licences and regulatory approvals faster and better, said Minister for Transport Chee Hong Tat at an event.


STB goes big on wellness tourism with tender for 42,000 sq m Marina South site
The Singapore Tourism Board (STB) has launched a concept and price revenue tender to develop and operate a wellness attraction on the Marina South Coastal site.


Is there enough talent in Singapore to power the sustainability sector?
Green jobs have been touted as the next big thing, but the fortunes of Singaporeans seeking sustainability-related roles have been mixed.



Business News


CapitaLand Investment’s 2023 emissions have risen, but energy efficiency improving: CSO
Even as CapitaLand Investment’s (CLI) carbon emissions rose last year – in terms of direct operations and power usage – the real asset manager has been improving energy efficiency.


CLI says it has US$4.5 bil AUM across 27 data centres, APAC primed for data centre development
CapitaLand Investment (CLI) today owns 27 data centres with about US$4.5 billion assets under management (AUM) and more than 800 megawatts (MW) in gross power across eight countries globally, according to a research paper launched by CLI on July 5


Citi S’pore workforce shrinks by 500 after restructuring; bank says city-state remains a key hub
Citi Singapore’s workforce has shrunk by about 500 people, following the US lender’s sweeping global restructuring that it says promotes faster decision-making and will thus help it better capture wealth and trade flows between Singapore and the region.


DBS unit fined in Hong Kong for money laundering breach
DBS Group Holdings’ Hong Kong unit was fined HK$10 million (S$1.7 million) by the city’s regulator for lapses in adhering to anti-money laundering and counter-terrorist financing regulations.


Maybank aims to double Vietnam assets by 2027, expand investment
Maybank plans to double its assets in Vietnam to US$2 billion by 2027 and become the country’s top foreign bank for syndicated loans, to capitalise on a booming economy.



Views, Reviews, Forum and Others


Clementi Stadium to be redeveloped by 2030, to feature baseball and softball fields: Desmond Lee
After more than 40 years of use, Clementi Stadium will be redeveloped along with the vacant site of the former West Coast Recreation Centre, said Minister for National Development Desmond Lee.


Will new work visa rules make things harder for global talent in Singapore?
It is employment pass renewal season in Singapore, and the new regime is dominating the conversation at after-work cocktails on Fridays.


Even as plastic bag use at supermarkets declines, Singapore is in early phase of sustainability transition: Experts
Plastic packaging manufacturer Qian Hu Tat Leng Plastic has been making disposable plastic bags for more than 40 years. Among its clients are supermarket chains. After large chains were required to start charging at least 5 cents per bag at checkout in July last year, orders from them have nearly halved, said the firm’s assistant general manager Li Bin Hao.



Global Economy & Real Estate


Fed’s Powell testifies as inflation, hiring cool


The US economic slowdown is looking more threatening


US inflation easing, job market similar to pre-pandemic conditions: Fed report


US job growth moderates in June; jobless rate rises to 4.1%


US apartments could be the next real estate business to struggle


Canadian bank watchdog delays plans to hike capital requirement


Top Vatican official accused of lying over 350 million euros real estate deal


German industrial output unexpectedly sinks as rebound struggles


Germany’s Urban housing recession is ending


Hong Kong retailers bank on duty-free quota hike to boost sales


New law to extend Hong Kong government land leases is in force; the Post examines the process


Hong Kong rents ascend as incoming students, professionals compete fiercely for space


Hong Kong buyers spurn 12% discount at Kai Tak’s Miami Quay, spelling woe for home market


Hawkish RBNZ seen unswayed by signs of deepening economic slump


Japan posts current account surplus of 2.85 trillion yen in May


Spain, France bust million-euro-a-day money laundering network


Swedish housing prices on track to recover from 2022 rout


Taiwan central bank says no timetable for launching digital currency


Thai headline inflation misses forecast in June, below central bank target


UK’s new PM Starmer speaks to world leaders, names top team


UK’s Reeves to unveil Labour’s growth plan in first major speech


Even Britain’s cheapest city has a housing crisis


UK house prices edge down in June


Vietnam targeting Q3 GDP growth of 6.5%-7.0%, inflation below 4.5%, PM says


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