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).
https://www.businesstimes.com.sg/property/redas-gets-new-president-tan-swee-yiow
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.
https://www.straitstimes.com/singapore/housing/construction-starts-on-s-pore-s-second-vertical-kampung-in-yew-tee
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.
https://www.straitstimes.com/singapore/budget-2023-to-address-cost-of-living-concerns-of-s-poreans-dpm-wong
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.
https://www.straitstimes.com/singapore/politics/ong-ye-kung-to-outline-s-pore-s-response-to-global-covid-19-situation-in-parliament-on-monday
https://www.todayonline.com/minute/jan-9-parliament-sitting-ong-ye-kung-outline-singapores-response-global-covid-19-situation-following-chinas-reopening-2085941
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.
https://www.channelnewsasia.com/singapore/gst-increase-retail-prices-expensive-cost-living-3185061
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.
https://www.straitstimes.com/singapore/business-missions-leisure-travel-between-singapore-and-china-poised-to-take-off-as-curbs-ease
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.
https://www.businesstimes.com.sg/companies-markets/capitaland-india-trust-ceo-bullish-growth-opportunities-amid-global-jitters
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.
https://www.theedgesingapore.com/capital/results/yanlord-posts-143-increase-contracted-pre-sales-rmb681-bil-fy2022
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.
https://www.businesstimes.com.sg/companies-markets/solid-fundamentals-s-reits-despite-challenging-2022
Global Economy & Real Estate
World Bank to warn of global recession risk in economic outlook
https://www.theedgesingapore.com/news/global-economy/world-bank-warn-global-recession-risk-economic-outlook
US service sector contracts in December, price increases slow: ISM survey
https://www.businesstimes.com.sg/international/us-service-sector-contracts-december-price-increases-slow-ism-survey
https://www.straitstimes.com/business/economy/us-services-activity-shrinks-for-first-time-since-may-2020
US posts solid job growth in December; jobless rate falls to 3.5%
https://www.businesstimes.com.sg/international/us-posts-solid-job-growth-december-jobless-rate-falls-35
https://www.straitstimes.com/business/us-hiring-tops-forecasts-jobless-rate-falls-as-wage-gains-slow
https://www.channelnewsasia.com/business/us-unemployment-dips-december-job-gains-robust-federal-reserve-3188216
Blackstone loses rent dispute at Manhattan’s biggest apartment complex
https://www.businesstimes.com.sg/property/blackstone-loses-rent-dispute-manhattans-biggest-apartment-complex
UK property funds facing curbs on withdrawals hit US$17.8b
https://www.businesstimes.com.sg/companies-markets/uk-property-funds-facing-curbs-withdrawals-hit-us178b
UK construction activity falls by most since May 2020
https://www.businesstimes.com.sg/property/uk-construction-activity-falls-most-may-2020
UK house prices may decline by 8% this year: Halifax
https://www.businesstimes.com.sg/property/uk-house-prices-may-decline-8-year-halifax
Portuguese are fed up with incentives for foreign home buyers
https://www.businesstimes.com.sg/property/portuguese-are-fed-incentives-foreign-home-buyers
German industrial orders fall on weak foreign demand
https://www.businesstimes.com.sg/international/german-industrial-orders-fall-weak-foreign-demand
Eurozone inflation falls sharply in Dec but offers ECB little respite
https://www.businesstimes.com.sg/international/eurozone-inflation-falls-sharply-dec-offers-ecb-little-respite
With few entry tests, South-east Asia may gain most from China’s travel revival
https://www.businesstimes.com.sg/international/asean/few-entry-tests-south-east-asia-may-gain-most-chinas-travel-revival
https://www.channelnewsasia.com/asia/covid-19-china-travel-fewer-entry-tests-southeast-asia-gain-most-3186901
China may ease ‘three red lines’ property rules in big shift
https://www.businesstimes.com.sg/international/global/china-may-ease-three-red-lines-property-rules-big-shift
https://www.channelnewsasia.com/business/china-may-ease-three-red-lines-property-rules-bloomberg-news-3187276
Financing for Chinese real estate firms jumps 33% in December
https://www.businesstimes.com.sg/property/financing-chinese-real-estate-firms-jumps-33-december
https://www.straitstimes.com/business/financing-for-chinese-real-estate-firms-jumps-33-year-on-year-in-dec
https://www.channelnewsasia.com/business/financing-chinese-real-estate-firms-jumps-33-year-year-dec-3190931
The rise – and huge potential – of China Reits
https://www.businesstimes.com.sg/international/global/rise-and-huge-potential-china-reits
China property shares firm on more policy support, easing curbs
https://www.businesstimes.com.sg/companies-markets/china-property-shares-firm-more-policy-support-easing-curbs
What’s at stake as China cleans up its property mess
https://www.businesstimes.com.sg/companies-markets/whats-stake-china-cleans-its-property-mess
China’s open borders mark Covid Zero end, spark rush home
https://www.businesstimes.com.sg/international/chinas-open-borders-mark-covid-zero-end-spark-rush-home
https://www.straitstimes.com/asia/east-asia/china-s-open-borders-mark-covid-zero-end-spark-homecoming-rush
China hotels, flights, cinemas perk up as Covid curbs end
https://www.businesstimes.com.sg/international/china-hotels-flights-cinemas-perk-covid-curbs-end
https://www.channelnewsasia.com/business/china-hotels-travel-bookings-perk-boon-covid-hit-services-sector-3187556
Hong Kong’s reopening is likely to push GDP growth above Singapore’s
https://www.businesstimes.com.sg/international/hong-kongs-reopening-likely-push-gdp-growth-above-singapores
https://www.straitstimes.com/asia/east-asia/hong-kong-s-reopening-is-likely-to-push-gdp-growth-above-singapore-s
https://www.theedgesingapore.com/news/global-economy/hong-kong-reopening-likely-push-gdp-growth-above-singapores
Hong Kong-China border reopening sparks rush for limited quota
https://www.businesstimes.com.sg/international/hong-kong-china-border-reopening-sparks-rush-limited-quota
https://www.straitstimes.com/asia/east-asia/hong-kong-china-border-reopening-sparks-rush-for-limited-quota
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