Singapore Real Estate / Built Environment
Arina East Residences sells 10 out of 107 units at average price of S$3,000 psf as booking opens
Freehold development Arina East Residences sold about 9 per cent of its 107 units on Saturday (Jun 7), at an average price of about S$3,000 per square foot (psf).
https://www.zaobao.com.sg/realtime/singapore/story20250607-6606455
Kwan Im Thong Hood Cho Temple buys three floors in Robinson Road for S$55.8 million
he top two levels of the 12-storey freehold office building at 108 Robinson Road as well as its eighth floor, are being sold for S$55.8 million. The total strata area is about 14,252 square feet (sq ft).
https://www.zaobao.com.sg/realtime/singapore/story20250607-6598755
BHG downsizes Bugis Junction flagship outlet as department stores face shaky future
Department store BHG is downsizing its flagship Bugis Junction outlet – its last remaining permanent store – from three to two levels. This follows the March closure of its Junction 8 store, which will be replaced by home furnishings brand Nitori.
Holland Village at a crossroads: Can the indie enclave reclaim its lost vibe?
Ageing Holland Road Shopping Centre finds a foothold in a changing precinct
Once a magnet for nightlife and alfresco dining, Holland Village teemed with diners and bar-goers on weekends. Today, the once-bustling indie enclave faces thinning crowds and shuttered storefronts, in a neighbourhood struggling to find its rhythm.
https://www.straitstimes.com/singapore/empty-shops-boarded-windows-has-holland-village-lost-its-soul
Singapore News
Singapore and the US still in early stages of tariff negotiations, says Vivian Balakrishnan
It will be some time yet before countries can know for certain the final shape of the United States’ tariff regime against virtually all its trading partners. This is as, aside from the revisions and legal challenges to the trade barriers that have been announced, it is clear that the US is looking to conduct multiple rounds of bilateral negotiations with its trading partners, which will take time, Foreign Minister Vivian Balakrishnan said on June 7.
https://www.zaobao.com.sg/realtime/singapore/story20250607-6596525
Acting Transport Minister Jeffrey Siow wants to boost transport networks, cut travelling times
Acting Transport Minister Jeffrey Siow aims to halve travelling times on some journeys for public transport commuters. His priority is to strengthen transport networks in the city and within HDB estates – particularly those that are a little farther away from the city, such as Tengah and Punggol.
https://www.zaobao.com.sg/news/singapore/story20250608-6624526
MAS, SPF to block website access to unlicensed trading platforms Octa and XM from Jun 20
The websites of unlicensed trading platforms Octa and XM will be blocked for Singapore residents with effect from Jun 20, said the Monetary Authority of Singapore (MAS) and the Singapore Police Force in a joint statement on Friday (Jun 6).
https://www.zaobao.com.sg/realtime/singapore/story20250606-6582194
Teo Chee Hean to succeed Lim Boon Heng as Temasek chairman in October
Former senior minister Teo Chee Hean will become chairman of Temasek Holdings in October, taking over from Lim Boon Heng, Temasek said on Friday (Jun 6).
Business News
CapitaLand Investment expands fund with Japan asset acquisition at 30 billion yen
CapitaLand Investment (CLI) on Monday (Jun 9) announced that it secured additional capital commitments from new and existing institutional investors for its value-add lodging private fund, CapitaLand Ascott Residence Asia Fund II (Clara II).
Keppel divests S$80 million of assets as part of multi-billion dollar monetisation programme
Asset manager Keppel is divesting its stakes in a New-York based company and a logistics park in China to unlock more than S$80 million from the monetisation of non-core assets, the group said on Friday (Jun 6).
New OCBC offer for Great Eastern more attractive but fate lies in hands of significant minority shareholders: analysts
What does the delisting proposal by Great Eastern mean for the minorities as well as majority shareholder OCBC?
OCBC’s latest exit offer for Great Eastern is more attractive than its initial privatisation bid, but it still remains to be seen if the insurer will be delisted, given that the decision likely lies in the hands of a few significant shareholders, analysts said.
Global Economy / Real Estate News
Trump pressures Fed’s Powell to cut rates by ‘a full point’
https://www.straitstimes.com/business/trump-pressures-feds-powell-to-cut-rates-by-a-full-point
Trump’s travel ban on 12 countries goes into effect early Monday
US, China to resume trade talks with focus on rare earth exports
https://www.businesstimes.com.sg/international/us-china-resume-trade-talks-focus-rare-earth-exports
US job growth slows in May; unemployment rate steady at 4.2%
https://www.businesstimes.com.sg/international/us-job-growth-slows-may-unemployment-rate-steady-4-2
Falling sales offer few signs of end to China’s property slump
https://www.businesstimes.com.sg/property/falling-sales-offer-few-signs-end-chinas-property-slump
Country Garden’s May sales drop 28% with no revival in sight
https://www.businesstimes.com.sg/property/country-gardens-may-sales-drop-28-no-revival-sight
Eurozone GDP growth revised up to 0.6% in first quarter
https://www.businesstimes.com.sg/international/eurozone-gdp-growth-revised-0-6-first-quarter
US tariff policy could cost Germany 90,000 jobs within a year
Exclusive | Yes, Hong Kong’s retail sector is struggling but people will have to adapt: John Lee
Hong Kong’s Paul Chan expects tourism sector to make robust recovery in 2025
Better harbourfront access among Hong Kong urban renewal body’s plans for site
Hong Kong approves land grants to beleaguered Urban Renewal Authority in rare move
New World prices Hong Kong luxury home project at record low
https://www.businesstimes.com.sg/property/new-world-prices-hong-kong-luxury-home-project-record-low
Revisions confirm Japan GDP contraction, backing Bank of Japan caution
Japan’s Q1 GDP contraction narrows on consumption improvement, revised figure shows
Thailand inflation remains negative in May; government cuts 2025 forecast
Bangkok’s housing glut spreads to Phuket as developers rush for tourist demand
UK house prices slid in May following stamp duty tax hike
https://www.businesstimes.com.sg/property/uk-house-prices-slid-may-following-stamp-duty-tax-hike
Vietnam’s big bet: Tax shake-up to unlock growth of 5 million household businesses
Vietnam’s exports and FDI pledges continue on robust growth track in May
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