Singapore Real Estate / Built Environment
Singapore to study viable decarbonisation strategies in push for more sustainable urban environment
Singapore is exploring more workable solutions and technologies to improve commercial buildings’ energy efficiency in its drive to accelerate decarbonisation in the built environment.
https://www.businesstimes.com.sg/property/singapore-study-viable-decarbonisation-strategies-push-more-sustainable-urban-environment
S-Reits expected to rally on potential rate cuts
At the Jackson Hole economic symposium in late August, Federal Reserve chair Jerome Powell mentioned that “the time has come for policy to adjust”. This suggests potential interest rate cuts, which could benefit Singapore Reits (S-Reits) with lower borrowing costs and higher property valuations.
https://www.businesstimes.com.sg/companies-markets/s-reits-expected-rally-potential-rate-cuts
Sceneca Square sells for S$64 million; money launderer’s Beach Road retail unit fetches S$8.7 million
The Singapore retail strata market seems to be buzzing more. Recent deals include the S$64 million sale of Sceneca Square mall being built next to Tanah Merah MRT station, and the S$8.7 million sale of a retail unit at The 101 in Beach Road owned by convicted money launderer Su Haijin.
https://www.businesstimes.com.sg/property/sceneca-square-sells-s64-million-money-launderers-beach-road-retail-unit-fetches-s8-7-million
Bukit Sembawang prices 8@BT from S$2,530 psf
Bukit Sembawang Estates will start previews for its Upper Bukit Timah project 8@BT on Saturday (Sep 7), with prices starting from S$2,530 per square foot (psf). About half of the 158-unit condominium are one- and two-bedroom units.
https://www.businesstimes.com.sg/property/bukit-sembawang-prices-8bt-s2530-psf
Tepid take-up of new guidelines on property agent commissions
New industry guidelines which spell out how property agent commissions should be paid have been met with a lacklustre response from private property buyers, two months after they were supposed to have kicked in.
https://www.businesstimes.com.sg/property/tepid-take-new-guidelines-property-agent-commissions
https://www.straitstimes.com/singapore/housing/tepid-take-up-to-new-guidelines-on-property-agent-commissions
Coastal elements in Pasir Ris, urban living in Queenstown: Design guides completed for 13 HDB towns
Singapore – In line with the vision for Pasir Ris to be a “resort town by the sea”, a Build-To-Order (BTO) project will incorporate coastal elements and a street will get a river-themed makeover. These themes, inspired by the town’s history as a popular seaside destination, were set out in a design guide that outlines a town’s overall planning vision and distinct theme.
https://www.straitstimes.com/singapore/housing/coastal-elements-in-pasir-ris-urban-living-in-queenstown-design-guides-completed-for-13-hdb-towns
Business News
CICT’s big acquisition, fundraising exercise are signs of what’s to come as Fed finally cuts rates
The first message that appeared on my phone last Tuesday (Sep 3) was from a longtime investor in real estate investment trusts (Reits), complaining about the impact that CapitaLand Integrated Commercial Trust’s (CICT) latest acquisition and equity fundraising plans might have on the market price of its units.
https://www.businesstimes.com.sg/opinion-features/cicts-big-acquisition-fundraising-exercise-are-signs-whats-come-fed-finally-cuts-rates
DBS names Calvin Ong as new Singapore consumer banking head
DBS has appointed Calvin Ong as its new Singapore consumer banking head. He succeeds Jeremy Soo, who retires at the end of the year, the lender said on Friday (Sep 6).
https://www.businesstimes.com.sg/companies-markets/banking-finance/dbs-names-calvin-ong-new-singapore-consumer-banking-head
https://www.straitstimes.com/business/dbs-names-calvin-ong-as-new-singapore-consumer-banking-head
Views, Reviews, Forum and Others
Enhanced security checks at all checkpoints into Singapore from Sept 9 to 14
Singapore – Travellers arriving in Singapore from Sept 9 to 14 can expect enhanced security checks and delays, said the Immigration and Checkpoints Authority (ICA).
https://www.straitstimes.com/singapore/enhanced-security-checks-at-all-checkpoints-in-singapore-from-sept-9-to-14-ica
https://www.channelnewsasia.com/singapore/ica-increase-security-checkpoints-travellers-pope-francis-4594401
MOM clarifies rules, recommendations to protect outdoor workers from heat stress
Singapore – To make it easier for companies to protect employees working outdoors against intense heat, the Ministry of Manpower (MOM) has reworked current heat stress measures based on an existing advisory for the public.
https://www.straitstimes.com/singapore/mom-clarifies-rules-recommendations-to-protect-outdoor-workers-from-heat-stress
https://www.zaobao.com.sg/news/singapore/story20240906-4650966
Global Economy & Real Estate
Fed policymakers say they are ready to cut interest rates
https://www.businesstimes.com.sg/international/fed-policymakers-say-they-are-ready-cut-interest-rates
https://www.straitstimes.com/business/economy/fed-policymakers-say-they-are-ready-to-start-cutting-interest-rates
https://www.channelnewsasia.com/business/fed-rate-cuts-green-light-us-job-growth-disappoints-4591641
Job growth in August misses forecasts; unemployment rate slips to 4.2%
https://www.businesstimes.com.sg/international/job-growth-august-misses-forecasts-unemployment-rate-slips-4-2
https://www.straitstimes.com/business/economy/us-job-gains-miss-expectations-in-august-though-unemployment-down
Wealthy Americans are spiking Portugal’s Algarve housing market
https://www.businesstimes.com.sg/property/wealthy-americans-are-spiking-portugals-algarve-housing-market
https://www.bloomberg.com/news/articles/2024-09-08/wealthy-americans-are-spiking-portugal-s-algarve-housing-market?srnd=phx-economics-v2
US warns businesses in Hong Kong of heightened legal risks
https://www.businesstimes.com.sg/international/us-warns-businesses-hong-kong-heightened-legal-risks
https://www.scmp.com/news/hong-kong/politics/article/3277693/us-warning-hong-kong-wont-hurt-city-firms-favour-profits-over-politics-observers
Australian airports face costly fight against worst climate risk
https://www.businesstimes.com.sg/companies-markets/transport-logistics/australian-airports-face-costly-fight-against-worst-climate-risk
https://www.bloomberg.com/news/articles/2024-09-08/australia-airports-face-costly-fight-against-worst-climate-risks?srnd=phx-economics-v2
Bali looking to suspend construction of new hotels in southern region as overdevelopment, overtourism bite
https://www.channelnewsasia.com/asia/indonesia-bali-suspend-construction-hotels-villas-overtourism-overdevelopment-4590636
China opens more manufacturing, healthcare to foreign money
https://www.businesstimes.com.sg/international/global/china-opens-more-manufacturing-healthcare-foreign-money
https://www.scmp.com/economy/china-economy/article/3277683/china-opens-medical-sector-manufacturing-foreign-ownership-growth-push
China’s ultra-rich are snatching up luxury homes in bet on first-tier cities
https://www.scmp.com/business/china-business/article/3277646/chinas-ultra-rich-are-snatching-luxury-homes-bet-first-tier-cities
ECB is poised to cut rates again in warm-up act for the Fed
https://www.businesstimes.com.sg/international/ecb-poised-cut-rates-again-warm-act-fed
https://www.bloomberg.com/news/articles/2024-09-07/ecb-is-poised-to-cut-rates-again-in-warm-up-act-for-the-fed?srnd=phx-economics-v2
Eurozone economy grew less than expected in second quarter
https://www.businesstimes.com.sg/international/eurozone-economy-grew-less-expected-second-quarter
Hong Kong is trying to lure travellers from elsewhere beyond the mainland. Who else is on its wishlist?
https://www.channelnewsasia.com/east-asia/hong-kong-woo-southeast-asia-muslim-tourists-diversify-mainland-4581351
Hong Kong rents set to hit record high as talent influx fuels demand
https://www.scmp.com/business/article/3277365/hong-kong-rents-set-hit-record-high-talent-influx-fuels-demand
Hong Kong’s student housing boom sees investors snap up assets as rents soar
https://www.scmp.com/business/article/3277546/hong-kongs-student-housing-boom-sees-investors-snap-assets-rents-soar
Opinion | To buy or not to buy in Hong Kong’s volatile property market?
https://www.scmp.com/opinion/hong-kong-opinion/article/3277422/buy-or-not-buy-hong-kongs-volatile-property-market
Japan revises down Q2 GDP to annualised 2.9% growth
https://www.businesstimes.com.sg/international/global/japan-revises-down-q2-gdp-annualised-2-9-growth
https://www.channelnewsasia.com/business/japans-q2-gdp-growth-revised-down-slightly-consumption-capex-4594966
https://www.bloomberg.com/news/articles/2024-09-08/japan-revises-2q-gdp-growth-pace-lower-versus-initial-estimate?srnd=phx-economics-v2
Wynn Resorts forfeits US$130 million tied to unlicensed transfers
https://www.businesstimes.com.sg/companies-markets/wynn-resorts-forfeits-us130-million-tied-unlicensed-transfers
It’s the hottest neighbourhood in all of Los Angeles
https://www.businesstimes.com.sg/property/its-hottest-neighbourhood-all-los-angeles
World’s second-tallest building Merdeka 118 tests Malaysia’s appetite for skyscrapers, property market
https://www.channelnewsasia.com/asia/merdeka-118-malaysia-world-second-tallest-building-appetite-skyscrapers-property-market-4591156
https://www.businesstimes.com.sg/property/worlds-second-tallest-tower-tests-malaysias-appetite-more-skyscrapers
https://www.straitstimes.com/business/world-s-second-tallest-tower-tests-malaysia-s-appetite-for-more-skyscrapers
A New York oasis lies in path of city’s push to build housing
https://www.businesstimes.com.sg/property/new-york-oasis-lies-path-citys-push-build-housing
Developer of South Korean marquee project risks losing site
https://www.businesstimes.com.sg/property/developer-south-korean-marquee-project-risks-losing-site
Sweden’s mixed housing signals muddle search for a direction
https://www.businesstimes.com.sg/property/swedens-mixed-housing-signals-muddle-search-direction
New Thai PM to push ahead with cash stimulus to revive economy
https://www.businesstimes.com.sg/international/new-thai-pm-push-ahead-cash-stimulus-revive-economy
UK house prices post biggest annual gain since late 2022
https://www.businesstimes.com.sg/property/uk-house-prices-post-biggest-annual-gain-late-2022
UK labour market loses steam in August, recruiters say
https://www.businesstimes.com.sg/international/uk-labour-market-loses-steam-august-recruiters-say
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