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 June 2024 (Thu)

Singapore Real Estate


Changi Business Park emptying out as global tech, finance layoffs take toll
Singapore’s commercial real estate market has been a standout amid a global downturn, with one major exception. Just nine miles from the gleaming skyscrapers that crowd the country’s Central Business District sits a 71-hectare (175-acre), billion-dollar example of the city-state’s push to create alternative business hubs.


Singapore April retail sales miss forecasts, fall 1.2%
Singapore’s retail sales fell 1.2 per cent year on year in April, reversing from the 2.8 per cent growth posted in the month before, with most industries recording declines in sales. April’s result was below estimates by private-sector economists, who expected retail sales to grow 1.9 per cent year on year in a Bloomberg poll.


Rebound in HDB resale price, volumes continue in May
The Housing and Development Board (HDB) resale market remained on its growth trajectory in terms of both prices and volumes for May, after rebounding in the previous month to snap two months of decline.



Singapore Economy


Singapore’s nation building journey deserves to be ‘commemorated and remembered’: SM Lee
Singapore: The time has come for Singapore to build a memorial to commemorate its nation building journey, said Senior Minister Lee Hsien Loong on Wednesday (Jun 5). Speaking after the groundbreaking ceremony for the Founders’ Memorial, Mr Lee said that Singapore’s journey as a nation deserves to be “commemorated and remembered”.


Singapore, US deepen AI ties with new talent scheme, cooperation on governance
Singapore and the US will work together to support youth, women and future leaders in emerging areas such as artificial intelligence (AI), under a new programme launched on Wednesday (Jun 5).


Singapore and other major Asean economies see stronger investments amid supply chain shifts
Singapore – Singapore and five other Asean countries have received most of the investment flows as companies diversify their supply chains and adopt a China-plus-one strategy, economists said.


Singapore to invest S$1m in research on how built environment affects mental health
Singapore: How much can someone’s mental well-being be affected by the built environment?
To find out, Singapore will embark on a three-year project that will help to shape how the city-state is planned and make it healthier and more liveable.



Business News


OUE Reit Treasury prices S$250 million green notes due 2027 at 4.1%
OUE Real Estate Investment Trust (Reit) Treasury, a wholly owned subsidiary of OUE Reit has priced its offering of S$250 million of green notes under its S$2 billion multicurrency debt issuance programme.


Tencent moves into CapitaSky to consolidate office space
Chinese tech giant Tencent has moved into a new space at a prime office tower in Singapore to bring together more employees in the city-state. Staff at the social media and gaming conglomerate moved into CapitaSky, a 29-storey tower in Singapore’s Central Business District (CBD) this week from a WeWork office at 30 Raffles Place, said people familiar with the matter, who asked not to be identified discussing private matters.



Global Economy & Real Estate


US services sector rebounds in May


US private payroll growth slows to 4-month low; small firms cut jobs


US home-purchase applications fall by most since early April


Australia economy remains weak on household spending squeeze


Australia moves to rein in buy-now-pay-later with credit check law


China’s robust services activity drives up employment, Caixin PMI shows


Country Garden’s home sales slump persists as aid fails to help


Eurozone business activity expands at fastest rate in a year, PMI shows


Dramatic rise in geopolitical risk in focus at HK wealth forum


New Hong Kong-Beijing sleeper trains slash travel time by half


Hong Kong luxury home sales rebound as wealthy buyers return


Indonesia aims to draw single family offices to holiday island Bali


Japan’s service activity extends gains, price pressures persist, PMI shows


Japan’s base pay rises most since 1994 as wage deals kick in


Portugal to use golden visa scheme to help migrants, build affordable homes


South Korea’s economy bigger than thought, easing debt burdens


Swedish housing price recovery fuelled by interest-rate cuts


Toronto area home sales fall for fourth consecutive month in May


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