Singapore Real Estate / Built Environment
MCL Land, CSC Land launch Clementi condo Elta; prices start at about S$2,200 psf
MCL Land and CSC Land Group will start previews for their Clementi project Elta on Friday (Feb 7), with prices starting at S$1.16 million for one-bedroom units.
The rent of local migrant workers’ dormitories has increased significantly, with the highest monthly rent per bed reaching SGD $510
The rent of beds in local migrant workers’ dormitories has risen sharply, with the island-wide average monthly bed costing $460, 70% higher than the $270 before the COVID-19 pandemic. Dormitories in the city center have the highest rent, which can reach $510, reflecting the tight supply and demand in the market.
https://www.zaobao.com.sg/news/singapore/story20250205-5835243
Singapore News
Singapore aware of companies’ worries about Johor-Singapore SEZ, will monitor impact: Alvin Tan
Singapore’s government is aware of concerns that the Johor-Singapore Special Economic Zone (JS-SEZ) might hurt certain industries, and is monitoring the zone’s impact, said Minister of State for Trade and Industry Alvin Tan in Parliament on Wednesday (Feb 5).
More financial help and extended childcare leave on MPs’ wish list for families
Singapore – Extended childcare leave and increased financial support were among ideas raised by MPs to better support Singaporeans who wish to start and raise families.
Business News
CapitaLand China Trust’s H2 DPU falls 12% to S$0.0264
The manager of CapitaLand China Trust on Thursday (Feb 6) posted a 12 per cent decline in distribution per unit (DPU) to S$0.0264 for the second half ended Dec 31, from S$0.03 in the year-ago period.
https://www.businesstimes.com.sg/companies-markets/capitaland-china-trusts-h2-dpu-falls-12-s0-0264
CapitaLand Malaysia Trust to buy three freehold industrial properties in Johor-Singapore SEZ for RM72 million
CapitaLand Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment on Wednesday (Feb 5) signed a conditional agreement to acquire three freehold industrial properties for a cash consideration of RM72 million (S$22 million) from Rainbow Entity, a subsidiary of Bursa Malaysia-listed Gromutual.
Frasers Hospitality Trust sees improved RevPAR in Q1 on sustained travel demand
Frasers Hospitality Trust (FHT) recorded an increase in revenue per available room (RevPAR) across its portfolio in the first quarter ended Dec 31, 2024, on the back of sustained travel demand in all its key markets.
Sabana Reit unitholders shouldn’t push for asset sales before internalisation project is completed
Many market watchers might have been surprised last month when a group of investors holding more than 10 per cent of Sabana Industrial Real Estate Investment Trust (Sabana Reit) requisitioned yet another extraordinary general meeting (EGM).
Global Economy & Real Estate
Trump tariffs risk US$29,000 rise in US home building costs
https://www.businesstimes.com.sg/property/trump-tariffs-risk-us29000-rise-us-home-building-costs
Rates likely to fall over medium term, says senior Fed official
Record high imports sharply widen US trade deficit in December
BBC tells some staff in Singapore bureau to reapply for jobs amid restructuring exercise
Explainer | How is China retaliating against US tariffs, and what impact will it have?
China’s services activity grows at slower pace: Caixin PMI
https://www.businesstimes.com.sg/international/chinas-services-activity-grows-slower-pace-caixin-pmi
Chinese cultural tours, road trips dominate Chinese New Year holiday travel
EU sees a path to negotiate with Trump to avoid a tariff fight
https://www.businesstimes.com.sg/international/eu-sees-path-negotiate-trump-avoid-tariff-fight
Hong Kong’s consumer watchdog launches Greater Bay Area property portal
Indonesia’s economy grows 5.03% in 2024, but structural challenges loom
Malaysia misses 2024 tourist arrival targets despite reporting over 25 million visitors
New York City, London luxury property prices dip as Asia real estate soars
South Korea inflation accelerates to six-month high amid weak currency
New listings of Toronto homes surge 26% on bets for lower rates
https://www.businesstimes.com.sg/property/new-listings-toronto-homes-surge-26-bets-lower-rates
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