Singapore Real Estate / Built Environment
URA suggests voluntary conservation of Golden Mile Tower’s iconic cinema block
URA has put forward a suggestion for the voluntary conservation of Golden Mile Tower in response to an outline application submitted by the collective sale committe of Golden Mile Tower. This would take effect if the 99-year leasehold development is successfully sold in a collective sale and a developer plans to redevelop the property.
https://www.zaobao.com.sg/realtime/singapore/story20250106-5692133
River Valley Apartments up for sale at S$56 million
Residential site River Valley Apartments has been put on the market for collective sale at S$56 million. This translates to a land rate of around S$1,622 per square foot per plot ratio (psf ppr), including a nominal land betterment charge.
https://www.businesstimes.com.sg/property/river-valley-apartments-sale-s56-million
https://www.zaobao.com.sg/realtime/singapore/story20250106-5692481
Are the days of Singapore’s en bloc fever over?
It was yet another quiet year for the collective sales market in 2024, with four successful deals out of just 16 properties put on the market – half of 2023’s 32 properties.
https://www.businesstimes.com.sg/property/are-days-singapores-en-bloc-fever-over
Local property giants should aspire to pan-Asean leadership
Singapore’s property market is generally seen as stable. Projects have large gross development values that can make meaningful contributions to businesses. And housing developers look to sell out a large proportion of units off-plan way ahead of construction completion.
Singapore News
Parliament to discuss unmasking of NRIC numbers, telemedicine practices and vaping
The unmasking of National Registration Identity Card (NRIC) numbers will be in focus as parliament sits on Tuesday (Jan 7). There were also questions filed on telemedicine practices in the wake of provider MaNaDr Clinic getting its licence revoked, vaping as well the possibility of further safeguards around social media usage for children and teenagers.
Three new MRT stations to link Downtown Line from Bukit Panjang to North-South Line by 2035
Three new stations will open by 2035 to connect the Downtown Line (DTL) from Bukit Panjang MRT station to the North-South Line (NSL). The first station after Bukit Panjang will be an underground station along Sungei Kadut Avenue, the Land Transport Authority (LTA) announced on Monday (Jan 6).
Business News
Hong Kong-based Logan Group proposes restructuring its US$8 billion offshore debt
Hong Kong-based developer Logan Group said on Monday (Jan 6) it was offering a restructuring proposal for the majority of its about US$8 billion offshore debt, including conversion to mandatory convertible bonds for its offshore creditors.
Heeton enters Bhutan to build a five-star resort on the top of a mountain, expected to open in the second quarter of this year
Mainboard-listed Heeton Holdings plans to open a five-star mountaintop resort in the Kingdom of Bhutan, which is expected to be the largest hotel in the country upon completion.
https://www.zaobao.com.sg/realtime/singapore/story20250106-5695105
Former HDB chief Cheong Koon Hean joins Surbana Jurong’s board
Professor Cheong Koon Hean has been appointed as a board member of Surbana Jurong Group (SJ) with immediate effect, announced the urban, infrastructure and managed-services consulting firm on Monday (Jan 6).
https://www.zaobao.com.sg/realtime/singapore/story20250106-5692204
Global Economy & Real Estate
Trump keeps world guessing over how he intends to impose tariffs
US dollar pares losses after Trump denies curbed-tariffs report
US records its first human death from bird flu
https://www.businesstimes.com.sg/international/us-records-its-first-human-death-bird-flu
Asia-Pacific loans set to recover in 2025 from three-year drop
Canada PM Trudeau says he will resign
https://www.businesstimes.com.sg/international/canada-pm-trudeau-says-he-will-resign
China services activity hits seven-month high but US trade fears dent optimism: Caixin PMI
Eurozone economy ended 2024 in precarious state, PMI shows
Hong Kong property: 10,000 new flats set to hit already supply-heavy market in 2025
Civil servant pay cut to reduce Hong Kong deficit ‘counterproductive’: experts
Indonesia books lower-than-expected 2024 fiscal deficit
https://www.channelnewsasia.com/business/indonesia-books-lower-expected-2024-fiscal-deficit-4839776
Thai inflation returns to target for first time in seven months
Thai central bank says it is ready to adjust rates if outlook shifts
Thailand tourism bounces back, with 35 million visitors in 2024
https://www.channelnewsasia.com/asia/thailand-tourism-bounces-back-35-million-visitors-2024-4840351
Vietnam posts 2024 GDP growth of 7.09%, faces challenges to meet faster 2025 growth target
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