DAILY NEWS

Daily News – 6 Oct 2022 (Thu)

SINGAPORE REAL ESTATE

Staying the course
This year has certainly been one for the history books. Despite intensifying headwinds and rising interest rates, fresh launches in the Outside Central Region (OCR) achieved record levels this year, crossing the S$2,000 per square foot (psf) mark, thanks to tight supply and a limited pipeline of launches.
https://www.businesstimes.com.sg/real-estate/property-2022-oct-issue/staying-the-course

Foreign entities that own land in S’pore may have to make ownership info publicly available
Singapore – Singapore is looking into whether information on overseas entities that own land in Singapore should be made publicly available to counter money laundering and terrorism financing.
https://www.straitstimes.com/singapore/politics/foreign-entities-that-own-land-in-spore-may-have-to-make-ownership-info-publicly-available

SINGAPORE ECONOMY

STB inks sustainability, expansion MoUs to grow Singapore’s Mice industry
The Singapore Tourism Board (STB) on Wednesday (Oct 5) signed three memoranda of understanding (MoU) with meetings, incentives, conventions and exhibitions (Mice) players to support sustainability efforts and expand their presence in Singapore and South-east Asia.
https://www.businesstimes.com.sg/government-economy/stb-inks-sustainability-expansion-mous-to-grow-singapores-mice-industry
https://www.straitstimes.com/singapore/consumer/more-mice-events-to-land-in-spore-under-new-pacts-with-global-players

Singapore retail sales up 13% in August, extending July’s growth
Singapore’s retail sales continued to rise year on year in August, but declined on a seasonally-adjusted monthly basis, according to the latest figures from the Department of Statistics (Singstat) on Wednesday (Oct 5).
https://www.businesstimes.com.sg/government-economy/singapore-retail-sales-up-13-in-august-extending-julys-growth
https://www.straitstimes.com/business/economy/singapore-retail-sales-see-slower-growth-of-13-in-august

A signal that Singapore is back on track
Many will agree that Singapore sent an emphatic signal to the world that it was open for business when the floodlit night scenes of the civic centre and commercial business district and the sight and sounds of F1 cars revving up at the starting grid were beamed worldwide.
https://www.straitstimes.com/opinion/st-editorial/the-straits-times-says-a-signal-that-singapore-is-back-on-track

F1 weekend saw near-90% occupancy at hotels in Singapore
Singapore – Harry’s International’s Boat Quay outlet typically serves about 100 customers on Sundays, but this ballooned to 638 last Sunday, the final day of the Formula 1 Singapore Grand Prix weekend.
https://www.straitstimes.com/singapore/hotels-here-cash-in-on-return-of-f1s-spore-race-but-some-businesses-suffer-from-road-closures