Singapore Real Estate / Built Environment
First private residential sites in Turf City, former Keppel Golf Course among 7 new state land sites unveiled for sale
Seven new sites are on offer under the government land sales (GLS) programme for residential housing in the first half of 2025, including the first private housing sites at the former Keppel Golf Course and Turf City. All are on the confirmed list.
https://www.businesstimes.com.sg/property/first-private-residential-sites-turf-city-former-keppel-golf-course-among-7-new-state-land-sites
https://www.straitstimes.com/singapore/private-home-supply-raised-for-h1-2025-first-sites-at-former-keppel-golf-course-bukit-timah-turf
https://www.zaobao.com.sg/realtime/singapore/story20241206-5516670
Vacant school sites in Singapore now house a sustainability hub, co-living spaces and a pre-school
A number of former school sites across the island, left vacant in recent years, have been returned to the community and reimagined for a variety of uses, from housing a pre-school to becoming co-living spaces. In the past five years, 20 vacant school sites – 12 of them from schools that merged – have been returned to the Singapore Land Authority (SLA).
https://www.straitstimes.com/singapore/vacant-school-sites-in-singapore-now-house-a-sustainability-hub-co-living-spaces-and-a-pre-school
Business News
CapitaLand China Trust manager names Gerry Chan as CEO
The manager of CapitaLand China Trust (CLCT) has appointed Gerry Chan as its CEO and an executive non-independent director with effect from Jan 1, 2025.
https://www.businesstimes.com.sg/companies-markets/capitaland-china-trust-manager-names-gerry-chan-ceo
Lendlease Global Reit takes out up to S$760 million in sustainability-linked loan facilities
The manager of Lendlease Global Commercial Real Estate Investment Trust has entered into agreements for up to S$760 million in sustainability-linked term and revolving facilities.
https://www.businesstimes.com.sg/companies-markets/lendlease-global-reit-takes-out-s760-million-sustainability-linked-loan-facilities
https://www.zaobao.com.sg/realtime/singapore/story20241206-5534758
RHB says Suntec Reit unitholders should reject S$1.16-per-unit offer, sees positives for the Reit
RHB has recommended unitholders of Suntec Real Estate Investment Trust (Reit) to reject the mandatory conditional cash offer for its units. Property tycoon Gordon Tang and his wife Celine on Thursday (Dec 5) launched an offer to acquire all the units of Suntec Reit at S$1.16 per unit in cash.
https://www.businesstimes.com.sg/companies-markets/rhb-says-suntec-reit-unitholders-should-reject-s1-16-unit-offer-sees-positives-reit
Temasek initiates wholly owned private credit platform of about S$10 billion
Singapore investment company Temasek announced on Friday (Dec 6) the formation of a wholly owned private credit platform, where its initial portfolio will amount to about S$10 billion, consisting of direct investments and credit funds.
https://www.businesstimes.com.sg/companies-markets/temasek-initiates-wholly-owned-private-credit-platform-about-s10-billion
Temasek firm to sell shares in Malaysia 5G winner to tycoon Vincent Tan
A Temasek firm is cutting its investment in a Malaysian phone company that recently won a major 5G contract, selling part of its stake to an entity controlled by tycoon Vincent Tan and the Malaysian king’s daughter.
https://www.businesstimes.com.sg/companies-markets/temasek-firm-sell-shares-malaysia-5g-winner-tycoon-vincent-tan
Views, Reviews, Forum and Others
Works on EWL progressing on schedule; train services on track to resume on Dec 11
Track works on the East-West Line (EWL) are progressing on schedule, and regular train service is expected to resume as planned on Dec 11. This is barring any unforeseen complications, such as bad weather, and assuming tests on the affected section go well, said Mr Chia Choon Poh, group director of rail (electrical and mechanical) at the Land Transport Authority (LTA).
https://www.straitstimes.com/singapore/works-on-ewl-progressing-on-schedule-train-services-to-resume-as-expected-on-dec-11
https://www.channelnewsasia.com/singapore/train-services-between-tanah-merah-and-tampines-track-resume-dec-11-works-40-complete-4792906
https://www.zaobao.com.sg/realtime/singapore/story20241208-5542631
Police warn of phishing scams involving online entry visa, digital arrival card applications
The police on Friday (Dec 6) warned of a recent trend of phishing scams involving online applications for entry visas for various countries and other related services. At least 22 such cases were reported since Nov 1 with total losses amounting to at least S$3,000 (US$2,240), said the police in a news release.
https://www.channelnewsasia.com/singapore/entry-visa-k-eta-phishing-scam-online-application-digital-arrival-card-australia-us-vep-4791931
Singapore says no China request made to arrest alleged money launderer
Singapore police said they didn’t arrest a Chinese national accused of money laundering because they were not asked to do so by authorities in China, even though an Interpol Red Notice had been issued for him.
https://www.businesstimes.com.sg/international/singapore-says-no-china-request-made-arrest-alleged-money-launderer
https://www.zaobao.com.sg/realtime/singapore/story20241208-5542304
https://www.scmp.com/news/asia/southeast-asia/article/3289891/singapore-police-no-china-request-arrest-money-launderer-despite-interpol-red-notice
Global Economy & Real Estate
US consumer borrowing jumps on surge in credit-card balances
https://www.businesstimes.com.sg/international/us-consumer-borrowing-jumps-surge-credit-card-balances
US job growth accelerates in November; unemployment rate rises to 4.2%
https://www.businesstimes.com.sg/international/us-job-growth-accelerates-november-unemployment-rate-rises-4-2
Backers of most US mortgages have done little about climate risks
https://www.businesstimes.com.sg/property/backers-most-us-mortgages-have-done-little-about-climate-risks
Trump’s China tariff plan has US$64 billion import hole
https://www.businesstimes.com.sg/international/trumps-china-tariff-plan-has-us64-billion-import-hole
Investment banks eye 2025 income boom as Trump drives deal rebound
https://www.channelnewsasia.com/business/investment-banks-eye-2025-income-boom-trump-drives-deal-rebound-4791026
BlackRock sees retail traders snapping up municipal bonds in 2025
https://www.businesstimes.com.sg/companies-markets/banking-finance/blackrock-sees-retail-traders-snapping-municipal-bonds-2025
Canada pressured to respond to Trump’s tax cut regime
https://www.businesstimes.com.sg/international/canada-pressured-respond-trumps-tax-cut-regime
China preps policy support for economic conference held under Trump’s shadow
https://www.scmp.com/economy/policy/article/3289742/china-preps-policy-support-economic-conference-held-under-trumps-shadow
China Vanke sales slump worsens after debt cracks show up
https://www.businesstimes.com.sg/property/china-vanke-sales-slump-worsens-after-debt-cracks-show
Eurozone consumers finally start spending in boost to GDP growth
https://www.businesstimes.com.sg/international/eurozone-consumers-finally-start-spending-boost-gdp-growth
German industrial production unexpectedly declined in October
https://www.businesstimes.com.sg/international/german-industrial-production-unexpectedly-declined-october
Axing of two Hong Kong ministers driven by need for better tourism strategy, but challenges remain
https://www.channelnewsasia.com/east-asia/hong-kong-ministers-fired-tourism-strategy-challenges-4791041
Last tenants to leave ‘luxury’ Hong Kong public housing estate 6 years early
https://www.scmp.com/news/hong-kong/society/article/3289772/last-tenants-leave-luxury-hong-kong-public-housing-estate-6-years-early
Hong Kong hoteliers brace for ‘worrying’ trends as lodging tax, US trade war dent tourism
https://www.scmp.com/business/article/3289864/hong-kong-hoteliers-brace-worrying-trends-lodging-tax-us-trade-war-dent-tourism
New World faces risk of mounting losses amid Hong Kong property slump
https://www.scmp.com/business/article/3289811/new-world-faces-risk-mounting-losses-amid-hong-kong-property-slump
Indonesia’s president agrees to selective VAT hike
https://www.businesstimes.com.sg/international/indonesias-president-agrees-selective-vat-hike
Japan eyes talks with Trump that include cutting auto tariffs
https://www.businesstimes.com.sg/international/japan-eyes-talks-trump-include-cutting-auto-tariffs
Japan revises Q3 GDP higher on capex, exports
https://www.channelnewsasia.com/business/japan-revises-q3-gdp-higher-capex-exports-4794911
Mah Sing Group remains focused on affordable residential properties, while eyeing data centres and industrial market for growth
https://www.businesstimes.com.sg/companies-markets/mah-sing-group-remains-focused-affordable-residential-properties-while-eyeing-data-centres-and
New York City approves a plan to create 80,000 new homes
https://www.businesstimes.com.sg/international/new-york-city-approves-plan-create-80000-new-homes
Renters in Rome struggle as coming Holy Year dries up housing market
https://www.businesstimes.com.sg/property/renters-rome-struggle-coming-holy-year-dries-housing-market
Luxury estates for the rich are a booming business in South Africa
https://www.businesstimes.com.sg/property/luxury-estates-rich-are-booming-business-south-africa
Bumpy road ahead for South Korean economy after failed martial law
https://www.straitstimes.com/business/bumpy-road-ahead-for-south-korean-economy
Thailand rules out raising value-added tax after public outcry
https://www.businesstimes.com.sg/international/thailand-rules-out-raising-value-added-tax-after-public-outcry
UK statistics failing on multiple fronts pose new policy risk
https://www.businesstimes.com.sg/international/uk-statistics-failing-multiple-fronts-pose-new-policy-risk
UK house prices jump 1.3% to record high
https://www.businesstimes.com.sg/property/uk-house-prices-jump-1-3-record-high
Marks & Spencer wins battle to demolish flagship London store
https://www.businesstimes.com.sg/property/marks-spencer-wins-battle-demolish-flagship-london-store
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