Singapore Real Estate / Built Environment
32 private estates in Singapore to undergo $135 million upgrading over next 5 years
Residents from 32 private estates in Singapore can look forward to new or improved facilities – such as new recreational spaces, wheelchair-accessible ramps and estate markers – that will be built over the next five years.
https://www.channelnewsasia.com/singapore/private-estate-upgrading-programme-desmond-lee-4925846
https://www.zaobao.com.sg/realtime/singapore/story20250208-5850305
Revamped *Scape ready by end-2025, rest of youth spaces in Somerset to be completed by end-2027
Youth hangout *Scape will be progressively ready for public use by the end of 2025, said the Ministry of Culture, Community and Youth (MCCY) on Feb 8. The building, located in Orchard Link, has been closed for physical upgrading since February 2023, as part of a masterplan to revitalise the Somerset Belt.
Schemes to liven up city centre, redevelop core areas extended for 5 years: Desmond Lee
Two urban rejuvenation schemes that aim to liven up the city centre by bringing more apartments into core areas and redeveloping existing commercial buildings will be extended for five years, Minister for National Development Desmond Lee said.
https://www.zaobao.com.sg/news/singapore/story20250207-5845980
GuocoLand places top bid of S$627.8 million for River Valley plot next to Great World MRT station
Th tender for a plum 99-year leasehold private housing site in the River Valley area next to Great World MRT station has drawn a better than forecast result.
https://www.zaobao.com.sg/realtime/singapore/story20250207-5846428
Owners set for windfall if Tan Boon Liat Building sale goes through, but buyers face challenges
The owners of strata-titled Tan Boon Liat Building are set to pocket a windfall if the collective sale goes through, but that is if potential developers are willing to fork out billions of dollars for it.
Cathay Cineplexes operator says it won’t give up despite financial struggles
Despite its financial struggles, the owner and operator of Cathay Cineplexes is not giving up on the silver screen. Days after the company revealed it had fallen behind on its rental payments, Mr Melvin Ang, founder and executive chairman of mm2 Asia, told CNA in an exclusive interview that he remains optimistic about its future.
https://www.channelnewsasia.com/singapore/cathay-cinemas-mm2-asia-not-giving-up-4926581
Singapore News
Strong govt and united people needed for Singapore to thrive in troubled world: SM Lee
Singapore can continue to survive and thrive in this troubled world by sticking to two fundamental factors that have brought the nation to where it is today, said Senior Minister Lee Hsien Loong on Feb 8.
Singapore still mulling design of possible CPF retirement investment scheme: PM Wong
Singapore is still studying the idea of a Central Provident Fund (CPF) retirement investment scheme, to see if such a programme can be designed to provide certainty of greater returns while minimising risk, said Prime Minister Lawrence Wong.
Budget 2025 expected to bring tax rebates, no ‘significant’ tax hikes
Singapore is unlikely to see “significant” tax hikes in Budget 2025, following tweaks in the last two years, observers told The Business Times. While rates may not be lowered either, rebates could be on the way.
Record growth of single family offices may be over but new entrants likely to be wealthier
Singapore may see a slowdown in the growth of the number of family offices ahead as the Republic shifts towards attracting wealthier families.
Business News
DBS posts 11% rise in Q4 profit to S$2.52 billion; full-year earnings hit record S$11.29 billion
DBS posted net profit for the fourth quarter that was 11 per cent higher compared with the year-ago period, but fell slightly short of expectations.
Thai billionaire Charoen to retire as Frasers Property chairman; other board changes announced
Frasers Property announced on Friday (Feb 7) evening that its board chairman, Thai billionaire Charoen Sirivadhanabhakdi, will retire from office on Feb 8, 2025.
https://www.zaobao.com.sg/realtime/singapore/story20250207-5847827
Frasers Property registers S$1 billion in pre-sold revenue as at end-2024; net gearing at 86.4%
Frasers Property registered S$1 billion in pre-sold revenue across Singapore, Australia, Thailand and China as at Dec 31, 2024, its business update on Friday (Feb 7) showed.
https://www.zaobao.com.sg/realtime/singapore/story20250207-5847405
Singapore-based Patience Capital, Hong Kong’s Gaw Capital buy iconic Tokyo mall for over US$1 billion
Real estate private equity firm Gaw Capital and Singapore-based investor Patience Capital Group have completed the acquisition of Tokyu Plaza Ginza, a prime mall in central Tokyo, in a deal worth more than US$1 billion, Gaw’s Japan head said on Friday (Feb 7).
Property tycoon Gordon Tang and wife’s takeover bid of Suntec Reit lapses without fulfilling 50% threshold
Property tycoon Gordon Tang and his wife Celine have failed to take over Suntec Real Estate Investment Trust (Reit), as their shareholding fell short of the 50 per cent threshold as at the offer closing date.
https://www.zaobao.com.sg/realtime/singapore/story20250208-5848756
Views, Reviews, Forum and Others
No approval sought to install mezzanine floor in Toa Payoh warehouse that collapsed: Authorities
No approval was sought from the Singapore Civil Defence Force (SCDF) or the Building and Construction Authority (BCA) to add a mezzanine floor in a Toa Payoh warehouse unit that collapsed last month.
Singapore confirms one imported case of vaccine-associated polio; low risk of community transmission
The Ministry of Health (MOH) on Friday (Feb 7) confirmed one imported case of vaccine-associated paralytic poliomyelitis in Singapore, adding that its findings so far indicate a low risk of community transmission.
Global Economy & Real Estate
Trump says he has spoken to Putin about ending the Ukraine war
https://www.zaobao.com.sg/realtime/world/story20250209-5852958
Trump says he plans reciprocal tariffs, will affect ‘everyone’
Trump says US and Japan will work to cut trade deficit as he greets Ishiba
https://www.channelnewsasia.com/world/us-japan-trump-ishiba-trade-nippon-steel-4924846
US job growth slowed in January after 2024 downward revision
More Australian retirees are struggling to pay rent: report
https://www.businesstimes.com.sg/property/more-australian-retirees-are-struggling-pay-rent-report
China’s consumer inflation at 5-month high, producer deflation persists
Germany’s record trade surplus with US set to stoke tensions
https://www.businesstimes.com.sg/international/germanys-record-trade-surplus-us-set-stoke-tensions
Hong Kong’s economic recovery under threat from Trump tariffs: business leaders
Are costs rising in Hong Kong? Inflation stays low but households say otherwise
US tariff hike adds pain for Hong Kong manufacturers banking on American market
Japan needs immediate deficit cut to fix fiscal path, IMF warns
https://www.straitstimes.com/business/japan-needs-immediate-deficit-cut-to-fix-fiscal-path-imf-warns
Meta prepares for layoffs on Monday: Internal memo
https://www.channelnewsasia.com/business/meta-layoffs-facebook-ai-hiring-4925321
New Zealand changes ‘golden visa’ to lure wealthy migrants
https://www.businesstimes.com.sg/international/new-zealand-changes-golden-visa-lure-wealthy-migrants
New Zealand hints at letting more foreign investors buy homes
https://www.businesstimes.com.sg/property/new-zealand-hints-letting-more-foreign-investors-buy-homes
https://www.straitstimes.com/business/new-zealand-hints-at-letting-more-foreign-investors-buy-homes
Unemployment fears are getting in the way of a UK consumer boom
https://www.businesstimes.com.sg/international/unemployment-fears-are-getting-way-uk-consumer-boom
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