Singapore Real Estate / Built Environment
Singapore retail sales rebound in March, up 1.1% after prior dip
The Republic’s retail sales rose 1.1 per cent in March, reversing February’s 3.5 per cent decline, data from the Department of Statistics (SingStat) showed on Monday (May 5). Excluding motor vehicles, retail sales rose 0.7 per cent year on year, compared with a decrease of 6.5 per cent in February.
https://www.businesstimes.com.sg/singapore/singapore-retail-sales-rebound-march-1-1-after-prior-dip
https://www.straitstimes.com/business/singapore-retail-sales-bounce-back-in-march-rising-by-1-1
https://www.zaobao.com.sg/finance/singapore/story20250505-6294067
Far East Organization puts Tuas asset with big redevelopment potential on the market
Far East Organization has put on the market a sizeable industrial property in Tuas with substantial redevelopment potential. Located at 51 Tuas View Link, the property has a site area of 456,810 square feet (sq ft) and 60 year-leasehold tenure from July 1996, leaving a balance term of about 31 years. On the site are two blocks of single-storey warehouses with mezzanine levels.
UOL Group is redeveloping Orchard Road’s Faber House. The first Hilton NoMad in Asia Pacific is expected to open next year
UOL Group announced that it will redevelop Faber House on Orchard Road into a hotel and entrust Hilton to manage it under its NoMad brand. This is the first NoMad hotel in the Asia-Pacific market, with 173 rooms and is expected to open in early 2027.
https://www.zaobao.com.sg/realtime/singapore/story20250505-6294018
Singapore News / GE 2025
Singapore-Pacific Alliance free trade agreement enters into force for Republic, Chile and Peru
A free trade agreement has entered into force for Singapore, Chile and Peru, three of the five partner countries in the Pacific Alliance-Singapore FTA (PASFTA), said Singapore’s Ministry of Trade and Industry (MTI) on May 5.
https://www.zaobao.com.sg/realtime/singapore/story20250505-6292477
SIC proposes takeovers and mergers code changes to protect competitive process, improve disclosures
The Securities Industry Council (SIC) on Monday (May 5) issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers, with the aim of enhancing regulation around such deals.
Workers’ Party chief Pritam Singh to continue as Leader of the Opposition: PM Wong
Prime Minister Lawrence Wong confirmed on Monday (May 5) that Workers’ Party (WP) chief Pritam Singh would remain as Leader of the Opposition. This came after Mr Singh told reporters on Sunday that he was unsure whether he would remain in the position.
https://www.channelnewsasia.com/singapore/lawrence-wong-pritam-singh-leader-opposition-5108951
GE2025: High spirits, hoarse voices as new MPs hit the ground running at Meet-the-People Sessions
After nine days of marathon campaigning for the 2025 General Election, seasoned MPs and newly elected ones alike hit the ground running at Meet-the-People Sessions (MPSes) around Singapore on May 5.
Business News
Changi Airport T5: Construction contracts worth about $4.75b awarded
Two contracts worth a total of about $4.75 billion have been awarded for the building of the substructure and airside infrastructure at Changi Airport Terminal 5 ahead of the start of construction later in May.
https://www.zaobao.com.sg/realtime/singapore/story20250505-6293553
Frasers Hospitality Trust H1 DPS falls 6% to S$0.010257 on higher finance costs
Frasers Hospitality Trust on Tuesday (May 6) posted a 6 per cent drop in distribution per stapled security (DPS) to S$0.010257 for its first half year ended Mar 31, from S$0.01091 in the corresponding year-ago period.
Wing Tai’s Amara foray will not help to address its underperformance
Minority shareholders of hotel and property group Amara Holdings who did not accept an earlier offer by Amethyst Assets, which closed in early 2024, have reason to cheer. Last week, Amara’s minority investors received a far superior voluntary conditional general offer at S$0.895 per share from DRC Investments, compared with the S$0.60 per share offer proposed in 2024.
Other News
Flowers made from recycled materials and piano keys that can produce melodies, Singapore illuminated, Marina Bay lit up
In conjunction with Singapore’s 60th anniversary of independence, the annual light show “i Light Singapore”, organised by the Urban Redevelopment Authority, will start on May 29 and run until June 21.
https://www.zaobao.com.sg/news/singapore/story20250505-6295281
Very heavy traffic expected at land checkpoints during Vesak Day long weekend
Travellers can expect very heavy traffic at Singapore-Malaysia land checkpoints during the upcoming Vesak Day long weekend. Vesak day falls on May 12 this year, and the Immigration and Checkpoints Authority (ICA) said that Woodlands and Tuas checkpoints are set to see heavy traffic from May 8 to 13.
Global Economy / Real Estate News
Global economy already feeling drag from Trump tariffs
https://www.businesstimes.com.sg/international/global-economy-already-feeling-drag-trump-tariffs
Trump administration freezes future grants to Harvard
Big Four accounting firm PwC to slash about 1,500 jobs in the US
Asian finance chiefs call for regional unity amid tariff talks
China’s secret weapon in the trade war
https://www.businesstimes.com.sg/opinion-features/chinas-secret-weapon-trade-war
China urges Japan, South Korea and Asean to deepen cooperation amid trade war turbulence
Dubai Holding kicks off residential Reit IPO in first Dubai listing this year
Trump’s 100% tariff on films will have little impact on Hong Kong industry: experts
Hong Kong developer SHKP rushes out more Sierra Sea flats amid surge of mainland buyers
Indonesia targeting 2026 GDP growth in 5.8% to 6.3% range, minister says
Indonesia annual Q1 GDP growth slowest in more than three years
Malaysia central bank seen holding key rate on May 8, cutting in Q4:Reuters Poll
Malaysia pins hope on easing US tariffs amid trade tension, flags GDP growth concerns
Citigroup CEO says most business clients can absorb 10% tariffs
Taiwan says tariff talks with US did not discuss exchange rate, as currency soars
Vietnam will keep growth target at 8% despite tariff challenges, says PM
Vietnam PM says US tariffs negatively affect global economy
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