Singapore Real Estate
Villa Des Flores up for collective sale with S$180 million guide price
Villa Des Flores at 125 Whitley Road is up for collective sale via public tender with a guide price of S$180 million, exclusive marketing agent SRI Capital said on Monday (Nov 6). The price tag works out to S$1,725 per square foot over the land area of 104,370 square feet (sq ft).
https://www.businesstimes.com.sg/property/villa-des-flores-collective-sale-s180-million-guide-price
https://www.edgeprop.sg/property-news/villa-des-flores-collective-sale-180-mil
Demand may be strong, but don’t overbuild 5-room BTO flats
The latest Build-To-Order (BTO) exercise in October by the Housing and Development Board (HDB) drew one of the lowest application rates in recent years. When applications closed at 11.59 pm on Oct 10, 10,935 applicants were vying for 6,800 flats. This translates to 1.6 applicants for each available unit.
https://www.businesstimes.com.sg/opinion-features/demand-may-be-strong-dont-overbuild-5-room-bto-flats
Singapore Economy
Israel-Hamas conflict has limited economic impact on Singapore unless it turns regional: DPM Wong
The Israel-Hamas conflict has a small direct impact on Singapore’s economy, because of the Republic’s limited trade and investment links with Israel and Palestine, said Deputy Prime Minister Lawrence Wong on Monday (Nov 6), in response to questions by Members of Parliament.
https://www.businesstimes.com.sg/singapore/israel-hamas-conflict-has-limited-economic-impact-singapore-unless-it-turns-regional-dpm
Singapore proposes new laws for President, ministers to hold roles in foreign and global organisations
Singapore: Legislative changes aimed at allowing the President and ministers to accept appointments in foreign and international organisations in their personal capacities, if it is in the national interest for them to do so, were proposed in parliament on Monday (Nov 6).
https://www.channelnewsasia.com/singapore/singapore-proposes-new-laws-president-ministers-hold-roles-foreign-and-global-organisations-3899721
https://www.todayonline.com/singapore/singapore-proposes-new-laws-president-ministers-hold-roles-foreign-and-global-organisations-2298296
https://www.straitstimes.com/singapore/politics/bill-proposed-to-allow-president-ministers-to-take-on-international-roles-in-private-capacities
https://www.businesstimes.com.sg/singapore/singapore-proposes-law-govern-foreign-appointments-president-ministers
https://www.theedgesingapore.com/news/singapore-news/singapore-proposes-bill-allowing-president-take-foreign-roles
Companies’ Brief
Amcorp Global proposes to acquire Amcorp Baker Street for GBP2.59 mil
Amcorp Global has proposed the complete acquisition of Amcorp Baker Street, which owns 50% of the equity stake in 126 Baker Street, the owner of a mixed-use development building located at 126-134 Baker Street in London, UK.
https://www.theedgesingapore.com/news/ma/amcorp-global-proposes-acquire-amcorp-baker-street-gbp259-mil
Frasers Hospitality Trust reports FY2023 DPS of 2.4426 cents, 49.3% higher y-o-y
Frasers Hospitality Trust (FHT) has reported a distribution per stapled security (DPS) of 2.4426 cents for the FY2023 ended Sept 30, 49.3% higher y-o-y. FHT’s DPS for the 2HFY2023 rose by 26.4% y-o-y to 1.1777 cents.
https://www.theedgesingapore.com/capital/results/frasers-hospitality-trust-reports-fy2023-dps-24426-cents-493-higher-y-o-y
https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-trust-posts-264-rise-dps-s0011777
Global Economy & Real Estate
Fed says tight credit standards, weak demand persist at US banks
https://www.businesstimes.com.sg/companies-markets/banking-finance/fed-says-tight-credit-standards-weak-demand-persist-us-banks
US renters get a bit of relief on surge in apartment construction
https://www.businesstimes.com.sg/property/us-renters-get-bit-relief-surge-apartment-construction
US invests US$2 billion for lower-carbon construction at federal buildings
https://www.businesstimes.com.sg/esg/us-invests-us2-billion-lower-carbon-construction-federal-buildings
Shopping frenzy boosts US economic growth, but concerns over inflation and cost of living cast a shadow
https://www.channelnewsasia.com/world/shopping-frenzy-boosts-us-economic-growth-concerns-over-inflation-and-cost-living-cast-shadow-unemployment-3900271
WeWork’s multibillion rescue couldn’t save it from office bust
https://www.businesstimes.com.sg/property/weworks-multibillion-rescue-couldnt-save-it-office-bust
https://www.straitstimes.com/business/wework-s-multibillion-dollar-rescue-couldn-t-save-it-from-office-bust
China builder Vanke gets support from regulator, biggest holder
https://www.businesstimes.com.sg/property/china-builder-vanke-gets-support-regulator-biggest-holder
https://www.straitstimes.com/business/china-developer-vanke-says-will-repay-debts-on-time-after-signals-of-support
China’s youth employment generally stable, continues to improve: State media
https://www.channelnewsasia.com/business/chinas-youth-employment-generally-stable-continues-improve-state-media-3900231
Eurozone recession fears harden as surveys show grim start to Q4
https://www.businesstimes.com.sg/international/eurozone-recession-fears-harden-surveys-show-grim-start-q4
German housing cancellations hit record as crisis deepens
https://www.businesstimes.com.sg/property/german-housing-cancellations-hit-record-crisis-deepens
German factory orders unexpectedly edged higher in September
https://www.businesstimes.com.sg/international/german-factory-orders-unexpectedly-edged-higher-september
Hong Kong developers hasten new home sales to clear inventory, but revival seen as limited amid high rates, supply
https://www.scmp.com/business/article/3240393/hong-kong-developers-hasten-new-home-sales-clear-inventory-revival-seen-limited-amid-high-rates
Hong Kong’s most Instagrammable housing estate set to be ‘redeveloped in stages’ with announcement on work expected by end of year
https://www.scmp.com/news/hong-kong/society/article/3240555/hong-kongs-most-instagrammable-housing-estate-be-redeveloped-stages-announcement-work-expected-end
Tourism hit seen hurting Israeli economy less than neighbours, says S&P
https://www.businesstimes.com.sg/international/tourism-hit-seen-hurting-israeli-economy-less-neighbours-says-sp
Italy police seize 779 million euros from Airbnb in tax probe
https://www.businesstimes.com.sg/property/italy-police-seize-779-million-euros-airbnb-tax-probe
Japan September household spending falls 2.8% yr/yr
https://www.channelnewsasia.com/business/japan-september-household-spending-falls-28-yr-yr-3902111
Japan’s inflation-adjusted wages slip in September for 18th month
https://www.channelnewsasia.com/business/japans-inflation-adjusted-wages-slip-september-18th-month-3902116
https://www.businesstimes.com.sg/international/global/japans-inflation-adjusted-wages-slip-september-18th-month
Japan service activity posts slowest growth this year: PMI
https://www.businesstimes.com.sg/international/japan-service-activity-posts-slowest-growth-year-pmi
Travellers to Malaysia mulling fewer hotel stays amid projected 30% hike in room rates
https://www.channelnewsasia.com/asia/malaysia-sst-hotel-room-prices-taxes-travellers-tourism-3899956
UK is probably already in recession: Bloomberg analysis
https://www.businesstimes.com.sg/international/uk-probably-already-recession-bloomberg-analysis
UK inflation will soon fall to match rest of world, BOE official says
https://www.businesstimes.com.sg/international/uk-inflation-will-soon-fall-match-rest-world-boe-official-says
UK industry urges Hunt to cut business taxes to spur growth
https://www.businesstimes.com.sg/international/uk-industry-urges-hunt-cut-business-taxes-spur-growth
UK developers offering sweeteners to one in five home buyers
https://www.businesstimes.com.sg/property/uk-developers-offering-sweeteners-one-five-home-buyers
https://www.straitstimes.com/business/free-cars-mortgage-help-uk-developers-offering-sweeteners-to-1-in-5-home-buyers
UK construction material costs slide at fastest pace in 14 years
https://www.businesstimes.com.sg/property/uk-construction-material-costs-slide-fastest-pace-14-years
PwC plans to cut up to 600 UK jobs as attrition rate plunges: FT
https://www.businesstimes.com.sg/companies-markets/pwc-plans-cut-600-uk-jobs-attrition-rate-plunges-ft
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