The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 7, 8 & 9 Jan 2023 (Sat, Sun & Mon)

Singapore Real Estate

REDAS gets new president, Tan Swee Yiow
Keppel Land’s director Tan Swee Yiow has been elected as the president of Real Estate Developers’ Association of Singapore (REDAS). The association made the announcement of its management committee for a new two-year term starting 2023 on Friday (Jan 6).


Construction set to start in Yew Tee on S’pore’s second ‘vertical kampung’
Singapore – Construction is set to start in Yew Tee to build Singapore’s second “vertical kampung” that will have seniors living in a community packed with all the necessary amenities, including Choa Chu Kang’s first hawker centre.



Singapore Economy

Budget 2023 to address cost-of-living concerns of S’poreans: DPM Wong
Singapore – More help for Singaporeans through Budget 2023 is being considered amid the uncertainties and challenges the year will bring, said Deputy Prime Minister and Minister for Finance Lawrence Wong on Saturday.


Ong Ye Kung to outline S’pore’s response to global Covid-19 situation in Parliament on Monday
Singapore – Health Minister Ong Ye Kung will make a ministerial statement on Singapore’s response to the current global Covid-19 situation given China’s reopening when Parliament sits on Jan 9.


Before and after the GST hike: How retail prices have changed in Singapore
Singapore: With the Goods and Services Tax (GST) rising by 1 percentage point to 8 per cent since Jan 1, some shops have accordingly updated their prices to reflect the increase.  CNA visited various stores to check the price difference on a random selection of items before and after the GST hike kicked in.


Business missions, leisure travel between Singapore and China poised to restart as curbs ease
Singapore – At least four business missions between Singapore and China will take place over the next three months as travel between the two countries restarts following three disrupted years due to the Covid-19 pandemic.



Companies’ Brief

CapitaLand India Trust CEO bullish on growth opportunities amid global jitters
It has been a busy couple of months for CapitaLand India Trust. At a time when most of its Singapore-listed real estate investment trust (S-Reit) peers have seen muted activity due to uncertainty from surging inflation and interest rates, Clint is on the warpath.


Yanlord posts 14.3% increase in contracted pre-sales to RMB68.1 bil for FY2022
Yanlord Land Group announced that it has achieved a 14.3% y-o-y growth in contracted pre-sales for its FY2022 ended December 2022 period to RMB68.1 billion ($13.4 billion). However, total contracted gross floor area (GFA) for FY2022 was 23.3% lower y-o-y at about 1.4 million sqm.


Solid fundamentals in S-Reits despite challenging 2022
The year 2022 was a challenging one for the global Reits sector, with a rising interest rate environment and declining global growth. During the year, the iEdge S-Reit Index declined 16 per cent in price returns, with dividends boosting its total returns to -12 per cent. Comparatively, the FTSE Epra Nareit Global Reits Index declined close to 25 per cent in price returns.



Global Economy & Real Estate

World Bank to warn of global recession risk in economic outlook


US service sector contracts in December, price increases slow: ISM survey


US posts solid job growth in December; jobless rate falls to 3.5%


Blackstone loses rent dispute at Manhattan’s biggest apartment complex


UK property funds facing curbs on withdrawals hit US$17.8b


UK construction activity falls by most since May 2020


UK house prices may decline by 8% this year: Halifax


Portuguese are fed up with incentives for foreign home buyers


German industrial orders fall on weak foreign demand


Eurozone inflation falls sharply in Dec but offers ECB little respite


With few entry tests, South-east Asia may gain most from China’s travel revival


China may ease ‘three red lines’ property rules in big shift


Financing for Chinese real estate firms jumps 33% in December


The rise – and huge potential – of China Reits

China property shares firm on more policy support, easing curbs

What’s at stake as China cleans up its property mess

China’s open borders mark Covid Zero end, spark rush home

China hotels, flights, cinemas perk up as Covid curbs end

Hong Kong’s reopening is likely to push GDP growth above Singapore’s  

Hong Kong-China border reopening sparks rush for limited quota


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.


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