The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News 8, 9 & 10 June 2024 (Sat, Sun & Mon)

Singapore Real Estate/Built Environment


URA seeks input on plans to use old Kallang Airport for lifestyle and recreational activities
Singapore – In the Dutch city of Tilburg, the bookshelves and tables in public library De Bibliotheek LocHal fill a vast shed where locomotives once sat. Opened in 2019, the library sits in a former train depot that dates back to 1932.


Far East Shopping Centre owners reject lower S$850 million offer; sale falls through
The second attempt at a collective sale for Far East Shopping Centre has tanked, with the lower offer of S$850 million having failed to get enough backing from unit owners, sources told The Business Times. This is around 8 per cent lower* (see amendment note) than its guide price of S$928 million.


Former Angsana Primary School site in Tampines could see up to 350 new HDB flats built
Singapore – About 300 Housing Board flats could be built on the former site of Angsana Primary School in Tampines Street 22, based on proposed plans for a new residential development on the plot.


Commentary: How would new HDB flats in Turf City change Singapore’s exclusive Bukit Timah area?
Singapore: On May 23, Singapore Minister for National Development Desmond Lee announced that Bukit Timah’s Turf City will be developed into a new residential enclave with up to 20,000 public and private homes.


HDB cautions property agents against misuse of flat portal amid rise in HFE letter applications
Singapore – The Housing Board has warned property agents against approaching flat sellers through its resale listing portal to offer their services, amid a rise in the number of agents applying for HDB Flat Eligibility (HFE) letters.



Business News


Oxley Holdings seeks up to US$120 mil private loan
Oxley Holdings Ltd, a cash-strapped property developer in Singapore, is seeking a private credit loan of US$100 million ($135.1 million) to US$120 million partly to help repay a Singapore dollar bond due next month, said people familiar with the matter.


Sabana Reit unitholders call for EGM to be held in fresh requisition letter
Unitholders of Sabana Industrial Real Estate Investment Trust (Sabana Reit) are urging the manager’s directors to hold the extraordinary general meeting (EGM) with amended resolutions using the original timeline and as soon as possible.



Global Economy & Real Estate


WHO waits on data after fatal first human H5N2 bird flu case


US Fed likely to remain on pause and pare back rate cut expectations: analysts


Fed seen waiting to cut rates as job growth picks up


US household wealth hit another record in first quarter, Fed data shows


US job gains blow past expectations, wage growth quickens


US office building losses start to pile up, and more pain is expected


China’s May exports rise solidly, but slower imports temper outlook


Gold slumps as China’s central bank halts 18-month buying spree


China’s push to clear huge inventory of unsold homes to bring developers little cheer


Shimao is latest developer to see sales rise since China’s property rescue package


Europe has fallen behind US and China. Can it catch up?


ECB policymakers warn about inflation challenge


Eurozone yields on track for biggest weekly fall since mid-March after ECB cut, US data


Eurozone economy resumed growth thanks to trade and spending


Germany’s financial capital Frankfurt battles a downtown drug scene


Hong Kong’s property rally proves short-lived as sales dip


Hong Kong developers keep discounted flats coming as they pare inventory amid rate hopes


Japan revises Q1 GDP contraction to annualised 1.8%


Weak yen and corporate divestments to drive foreign investments into Japan


Japan consumer spending rises in April for first time in 14 months


New Zealand house prices fall for second month amid high rates and listings


Thai headline inflation at year-high in May, back to central bank target range


UK house prices stagnate with small dip in May, Halifax says


UK job market on its way back after downturn, recruiters say


Britain’s rich race to save their wealth from election hit


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