The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 7 Sep 2022 (Wed)


Orchard Bel Air en bloc closes without sale; 5 Oxley Rise, Oxley Garden also not sold
The public tender sale of Orchard Bel Air closed on Tuesday (Sep 6) with its owners entering into discussions with potential buyers. Located at the doorstep of the soon-to-open Orchard Boulevard MRT Station, the prime District 10 condominium was put up for sale at S$587.5 million on Jul 27.

CK Asset to release 55 more units for sale at Perfect Ten; prices start at S$2.1m
CK Asset Holdings will launch 55 more units at its freehold, 230-unit residential project, Perfect Ten, on Saturday (Sep 10) under its latest phase of sales. Indicative prices for these units at the luxury development in Bukit Timah in District 10 start at about S$2.1 million to S$2.5 million for the 2-bedroom units, and S$3.5 million to S$4.1 million for the 3-bedroom units.

Chinatown Business Association extends 25% rental discounts by 6 months
As part of the continued support offered to street market standalone stall tenants, the Chinatown Business Association (CBA) is extending rental relief packages up till Mar 8, 2023 – by offering a 25 per discount on rental rates.

Push for prefab, digital tech use as blueprint is refreshed for built environment sector
Singapore – A pair of residential towers in the Outram area took just 18 months to be built with a Lego-like stacking and assembling process. It would have taken almost double the time – around 30 months – to be completed if construction was done via traditional building methods.

In Braddell, construction is causing this building to vibrate. Residents might have to endure it for many more years
Singapore: The construction did not bother Madam Christina Fong, until the “terrible earthquake sensation” she experienced about a month ago changed her mind. “It feels like your building is going to collapse anytime. I feel my body moving. Even when I lie down, I can feel it.

Several Sunset Way residents turned down PUB’s flood prevention devices after Ulu Pandan landslide
Singapore — A number of residents living in Sunset Way near the Clementi and Ulu Pandan neighbourhoods are not too bothered about heavy downpours triggering flash floods, with some deciding not to accept inflatable devices and flood barriers such as sand bags provided by national water agency PUB.



Vital for Singapore, Malaysia to strengthen cooperation in the face of global headwinds: Lawrence Wong
Singapore and Malaysia have to continue working closely together amid a more uncertain global landscape, Deputy Prime Minister Lawrence Wong said on Tuesday (Sep 6). Both countries have a high level of interdependency across many areas, and their relationship is underpinned by close people-to-people and family ties, he noted.

E-commerce sales in S’pore expected to reach $19.6b by 2027, despite slower growth this year
Singapore – E-commerce sales in Singapore are expected to reach US$14 billion (S$19.6 billion) by 2027, despite slower growth seen in 2022 amid inflationary pressures and supply chain disruptions, according to a report released by Facebook parent Meta and Bain & Company on Tuesday.

Getting it right for net zero by 2050
Singapore – The Republic announced on Monday its intention to have its planet-warming emissions reach net zero by 2050 – a move that climate action advocates here have welcomed as being aligned with the recommendations of climate scientists.

1,600 worker dorms to come under single law next year in move to contain disease outbreaks quickly
Singapore – About 1,600 dormitories that can house about 440,000 migrant workers will be regulated under a single law from April 1 next year, to help the authorities contain disease outbreaks more quickly and potentially improve living standards within such facilities.

EDB reviewing Tech.Pass after MOM launches pass for top talent in all sectors
Singapore – The Tech.Pass, a specialised work pass for the movers and shakers of the technology sector, could be merged into the new Overseas Networks and Expertise Pass for top talent. The new pass, which was unveiled by Manpower Minister Tan See Leng last month, offers similar flexibility in employment and starting a business to top foreign professionals as the Tech.Pass, but is open to top talent in all sectors.



FHT privatisation offers value for FHT’s securities holders but not shareholders of Frasers Property
Investors looking for plays on international travel may soon find themselves with one fewer option on the Singapore Exchange. On Sep 12, stapled securities holders of Frasers Hospitality Trust : ACV -0.71% (FHT) will meet at an extraordinary general meeting to decide whether to approve the proposed privatisation of FHT via a scheme of arrangement.

WeWork launches 21 Collyer Quay, largest location in the Pacific
Co-working company WeWork has launched 21 Collyer Quay, its largest location in the Pacific region, consisting of Australia, South Korea and South-east Asia. (*see amendment note) Consisting of 21 floors of the former HSBC headquarters in Singapore, the location has over 220,000 square feet of Grade A office space.



Covid-19 is likely to require yearly booster like flu shot, Fauci says

Is Fed policy in the eye of the beholder?

America’s outlook: Not all doom and gloom

US services gauge rises to 4-month high on pickup in demand

Lack of US workers is ‘bigger threat’ than inflation, Labor Secretary Walsh says

UK construction shrinks again as economy reels from inflation

British shoppers, feeling the inflation hit, cut back on non-essentials

Czech billionaire buys $60m ‘little Versailles’ outside Paris

China growth to average 4.5% this decade, Oxford economics says

South Korea’s trade balance to stay in deficit for time being: central bank

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