Singapore Real Estate
10,000 new homes planned in Yishun; Gillman Barracks being studied for residential use
A huge new housing estate offering around 10,000 homes is being planned in the Chencharu area in Yishun, with the first public housing project there to be launched in June 2024. And art enclave Gillman Barracks may be turned into a residential neighbourhood after 2030 with both public and private housing, a move expected to draw robust demand for new homes in the central locale.
https://www.businesstimes.com.sg/property/10-000-new-homes-planned-in-yishun-gillman-barracks-being-studied-for-residential-use
https://www.straitstimes.com/singapore/politics/gillman-barracks-site-being-studied-for-new-neighbourhood-with-public-and-private-homes
https://www.channelnewsasia.com/singapore/yishun-chencharu-estate-10000-new-homes-gillman-barracks-potential-residential-development-4171456
Pine Grove relaunched for collective sale at $1.95b, but efforts still on to get mandate for $1.78b
Pine Grove condominium will be relaunched for collective sale at $1.95 billion on March 6 after its collective sale committee (CSC) failed to get the 80 per cent mandate to lower the reserve price to $1.78 billion. The tender closes on May 6, 2024, at 3pm.
https://www.straitstimes.com/business/pine-grove-relaunched-for-collective-sale-at-195b-but-efforts-still-on-to-get-mandate-for-178b
https://www.channelnewsasia.com/singapore/pine-grove-en-bloc-sale-lower-reserve-price-possible-4172771
Construction sector to get enhanced nationwide contractors’ registry, energy efficiency grant
A new energy efficiency grant for the construction sector, an enhanced Contractors Registration System (CRS), and extended support for sector productivity improvements are in the works, the government announced on Tuesday (Mar 5).
https://www.businesstimes.com.sg/property/construction-sector-to-get-enhanced-nationwide-contractors-registry-energy-efficiency-grant
Staggered down payment scheme enhanced to help more young couples buy new HDB flats
Some young couples waiting for their new Housing and Development Board (HDB) flats will need to fork out less in their initial down payment, with the revision of the Staggered Downpayment Scheme (SDS), Minister for National Development Desmond Lee said on Tuesday (Mar 5).
https://www.businesstimes.com.sg/property/staggered-down-payment-scheme-enhanced-to-help-more-young-couples-buy-new-hdb-flats
https://www.todayonline.com/singapore/initial-downpayment-slash-bto-flat-price-eligible-young-couples-2375926
https://www.channelnewsasia.com/singapore/young-couples-students-nsfs-hdb-bto-lower-initial-downpayment-pphs-vouchers-4171466
Singapore Economy
Singapore and Australia to enter new chapter of cooperation in 2025
Singapore and Australia will enter a new phase of partnership in 2025, with their leaders pledging to cooperate in fresh and strategic ways, amid geopolitical uncertainties. These new areas of cooperation include the fields of renewable energy, supply chain resilience, artificial intelligence and air connectivity, said Prime Minister Lee Hsien Loong on Tuesday (Mar 5), adding that they fit well with the priorities of both countries.
https://www.businesstimes.com.sg/singapore/singapore-and-australia-to-enter-new-chapter-of-cooperation-in-20251
Singapore, Australia ink pact for green and digital shipping corridor
Singapore and Australia have signed a memorandum of understanding (MOU) to establish the Singapore-Australia Green and Digital Shipping Corridor (GDSC). Under the collaboration, both countries will work with interested partners to develop zero, or near-zero, greenhouse-gas (GHG) emission fuel supply chains for the maritime industry.
https://www.businesstimes.com.sg/singapore/singapore-australia-ink-pact-for-green-and-digital-shipping-corridor
https://www.straitstimes.com/singapore/singapore-australia-ink-mou-on-green-and-digital-shipping-corridor
https://www.scmp.com/week-asia/politics/article/3254270/singapores-welcome-future-aukus-submarines-underscores-friends-all-policy
Higher car sales push Singapore retail sales up by 1.3% in January, reversing December’s decline
Singapore’s retail sales grew 1.3 per cent year on year in January, reversing the 0.5 per cent decline posted in the month before, as higher motor vehicle sales helped to drive growth. On a month-on-month, seasonally adjusted basis, retail sales fell 0.7 per cent, extending from December’s 1.5 per cent fall, according to Department of Statistics (SingStat) data released on Tuesday (Mar 5).
https://www.businesstimes.com.sg/singapore/economy-policy/higher-car-sales-push-singapore-retail-sales-up-by-1-3-in-january-reversing-december-s-decline
https://www.straitstimes.com/business/singapore-retail-sales-up-13-in-january-but-extend-decline-if-cars-are-excluded
Global Economy & Real Estate
Does interest rate pain explain the consumer sentiment gap?
https://www.businesstimes.com.sg/opinion-features/does-interest-rate-pain-explain-the-consumer-sentiment-gap
US factory orders fall more than expected in January
https://www.businesstimes.com.sg/international/us-factory-orders-fall-more-than-expected-in-january
US services sector cools in February: ISM survey
https://www.businesstimes.com.sg/international/us-services-sector-cools-in-february-ism-survey
Trump ties up with Saudi developer on luxury housing, golf club
https://www.businesstimes.com.sg/property/trump-ties-up-with-saudi-developer-on-luxury-housing-golf-club
Australian pension fund buys Sydney airport site to build A$3.9 billion logistics hub
https://www.businesstimes.com.sg/property/australian-pension-fund-buys-sydney-airport-site-build-3.9-billion-logistics-hub
China’s services activity growth momentum softens in February, but still expands for 14th consecutive month
https://www.scmp.com/economy/economic-indicators/article/3254171/chinas-services-activity-growth-momentum-softens-february-still-expands-14th-consecutive-month
China plans one trillion yuan special ultra-long debt for economy
https://www.businesstimes.com.sg/international/global/china-plans-one-trillion-yuan-special-ultra-long-debt-for-economy
China’s Li vows more support for property market stuck in the doldrums
https://www.businesstimes.com.sg/property/china-s-li-vows-more-support-for-property-market-stuck-in-the-doldrums
China’s ‘two sessions’ 2024: as GDP gap with US widens, will the ‘East wind’ prevail?
https://www.scmp.com/economy/global-economy/article/3254126/chinas-two-sessions-2024-gdp-gap-us-widens-will-east-wind-prevail
China’s ‘two sessions’ 2024: Premier Li Qiang asks Hong Kong to ‘play to its strengths’ as part of Greater Bay Area
https://www.scmp.com/news/hong-kong/politics/article/3254190/chinas-two-sessions-2024-premier-li-qiang-encourages-hong-kong-play-its-strengths-part-greater-bay
Chinese developers resume UK commercial property retreat
https://www.businesstimes.com.sg/property/chinese-developers-resume-uk-commercial-property-retreat
China Vanke assures it can repay US$630 million dollar bond amid liquidity worries
https://www.businesstimes.com.sg/property/china-vanke-assures-it-can-repay-us-630-million-dollar-bond-amid-liquidity-worries
https://www.straitstimes.com/business/china-s-property-debt-woes-deepen-with-vanke-under-closer-scrutiny
Country Garden’s sales drop most in years amid wind-up fears
https://www.businesstimes.com.sg/property/country-garden-s-sales-drop-most-in-years-amid-wind-up-fears
EU set to allow possible retroactive tariffs for Chinese EVs
https://www.businesstimes.com.sg/companies-markets/transport-logistics/eu-set-allow-possible-retroactive-tariffs-chinese-evs
Sun Hung Kai Properties in pole position to benefit from Hong Kong’s property easing measures, analysts say
https://www.scmp.com/business/article/3254296/sun-hung-kai-properties-pole-position-benefit-hong-kongs-property-easing-measures-analysts-say
With Hong Kong’s removal of property curbs unleashing a buying frenzy, here are 5 residential projects to keep an eye out for
https://www.scmp.com/business/companies/article/3254265/hong-kongs-removal-property-curbs-unleashing-buying-frenzy-here-are-five-residential-projects-keep
Japan’s ministers deny report government thinking of calling end to deflation
https://www.channelnewsasia.com/business/japans-ministers-deny-report-government-thinking-calling-end-deflation-4171201
Japan’s service activity grows in February on firm tourism
https://www.businesstimes.com.sg/international/japan-s-service-activity-grows-in-february-on-firm-tourism
https://www.channelnewsasia.com/business/japans-service-activity-grows-feb-firm-tourism-4171146
Japan seeing signs of positive wage momentum, says senior official
https://www.businesstimes.com.sg/international/japan-seeing-signs-of-positive-wage-momentum-says-senior-official
https://www.channelnewsasia.com/business/japan-seeing-signs-positive-wage-momentum-says-senior-official-4172276
South Korea inflation quickens in February after three months of easing
https://www.businesstimes.com.sg/international/south-korea-inflation-quickens-february-after-three-months-easing
https://www.channelnewsasia.com/business/south-korea-inflation-quickens-february-after-three-months-easing-4174146
Five things about Vietnam’s multi-billion-dollar fraud case involving property queen Truong My Lan
https://www.businesstimes.com.sg/international/asean/five-things-about-vietnam-s-multi-billion-dollar-fraud-case-involving-property-queen-truong-my-lan
https://www.channelnewsasia.com/asia/vietnam-multibillion-dollar-financial-scam-trial-4171091
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