Singapore Real Estate / Built Environment
19 colonial bungalows at Adam Park earmarked for conservation, functions may ‘evolve’
A cluster of 19 pre-war bungalows at Adam Park will be proposed for conservation, given the site’s historical significance, and government agencies are studying how functions for conserved buildings might evolve.
https://www.businesstimes.com.sg/property/19-colonial-bungalows-adam-park-earmarked-conservation-functions-may-evolve
https://www.straitstimes.com/singapore/cantonese-temple-in-sims-drive-19-pre-wwii-bungalows-in-adam-park-mooted-for-conservation
https://www.channelnewsasia.com/singapore/temple-pre-war-bungalows-adam-park-conservation-ura-4735201
https://www.zaobao.com.sg/realtime/singapore/story20241108-5315529
JTC in S$46.2 million buyback of Mercedes-Benz logistics property in Tuas
Mercedes-Benz Singapore is selling the balance lease of its property at 301 Jalan Ahmad Ibrahim to JTC Corporation. JTC is paying S$46.2 million to buy back the balance lease term of 16 years and five months for the 403,401 square foot (sq ft) site, and the two-storey logistics building on it.
https://www.businesstimes.com.sg/property/jtc-s46-2-million-buyback-mercedes-benz-logistics-property-tuas
Chuan Park moves over 60% of units during weekend; Union Square Residences sells about 20% on Saturday
Over the weekend, sales crossed the 60 per cent mark at the massive 916-unit Chuan Park by Kingsford Development, property agents said on Sunday (Nov 10). At the other weekend property launch, City Developments Ltd (CDL) sold 75 units of the 366-unit Union Square Residences at Havelock Road on Saturday.
https://www.businesstimes.com.sg/property/chuan-park-moves-over-60-units-during-weekend-union-square-residences-sells-about-20-saturday
https://www.zaobao.com.sg/realtime/singapore/story20241109-5320941
The Yew Tee Living Corridor is completed and a water park is built under the subway viaduct
Under the subway viaduct there are gardens, green spaces, fitness facilities, activity plazas, and even a children’s playground for playing in the water – the newly completed Yew Tee Living Corridor provides more activity space and leisure and entertainment options for nearby residents.
https://www.zaobao.com.sg/realtime/singapore/story20241110-5322893
Singapore Economy
Economic strategies, jobs among focus areas of Budget 2025: PM Wong
Economic strategies and jobs are among key focus areas for Budget 2025, while Singapore continues to promote trade and multilateralism in a “more dangerous” world, Prime Minister Lawrence Wong said on Friday (Nov 8).
https://www.businesstimes.com.sg/singapore/economic-strategies-jobs-among-focus-areas-budget-2025-pm-wong
https://www.straitstimes.com/singapore/politics/cost-of-living-and-job-security-among-singaporeans-top-concerns-that-will-be-covered-in-budget-2025
https://www.zaobao.com.sg/realtime/singapore/story20241108-5317105
Singapore businesses keeping close watch on trade policies under Trump 2.0
Singapore businesses are keeping a watchful eye on how US President-elect Donald Trump’s second term in the White House could impact global trade policies and business costs.
https://www.businesstimes.com.sg/singapore/singapore-businesses-keeping-close-watch-trade-policies-under-trump-2-0
The optimistic case for Singapore’s economy in the second Trump presidency
The US stock market and currency rallied strongly in the immediate aftermath of the US elections, which brought about Donald Trump’s return to the White House. Singapore’s equities market also generally reacted positively to his win, which will see him inaugurated as president for the second time in January 2025.
https://www.businesstimes.com.sg/opinion-features/optimistic-case-singapores-economy-second-trump-presidency
Public Service Division announces permanent secretary appointments, re-designations in December
Singapore: The Public Service Division (PSD) on Friday (Nov 8) announced several permanent secretary appointments and re-designations that will take effect in December.
https://www.channelnewsasia.com/singapore/psd-permanent-secretary-appointments-dec-2025-4735791
Business News
DBS, OCBC, UOB aim to stay competitive as foreign players slash mortgage rates
Singapore’s local banking trio will continue to watch interest rate movements to ensure that their mortgage rates stay competitive.
https://www.businesstimes.com.sg/companies-markets/dbs-ocbc-uob-aim-stay-competitive-foreign-players-slash-mortgage-rates
Far East Orchard reaps the rewards of its growth strategy
Since Alan Tang took on the mantle of Far East Orchard’s (FEOR) chief executive officer in 2020, the group has been hard at work in building its lodging platform, honing in on student housing and hospitality to deliver growth and returns. And that has reaped results.
https://www.businesstimes.com.sg/companies-markets/far-east-orchard-reaps-rewards-its-growth-strategy
Work on waterfront development for Resorts World Sentosa’s $6.8b expansion to start in November
Singapore – Singapore’s two integrated resort (IR) operators are accelerating plans to ramp up their offerings in efforts to draw more visitors. It comes just as Singapore is raising airport fees for visitors, and against the backdrop of increased competition for tourists from the region, as well as global economic uncertainty.
https://www.straitstimes.com/business/companies-markets/work-on-6-8-billion-expansion-of-resorts-world-sentosa-to-start-in-november
Stamford Land returns to black with H1 profit of S$15.2 million
Property company Stamford Land on Friday (Nov 8) posted a net profit of S$15.2 million for the six months ended Sep 30, reversing into the black from a loss of S$14.6 million in the corresponding period in the previous year.
https://www.businesstimes.com.sg/companies-markets/stamford-land-returns-black-h1-profit-s15-2-million
Global Economy & Real Estate
Fed’s implied message: Enjoy the rate cuts and market euphoria now, worry about tariffs and deficits later
https://www.businesstimes.com.sg/opinion-features/feds-implied-message-enjoy-rate-cuts-and-market-euphoria-now-worry-about-tariffs-and-deficits-later
US, UK and Sweden pile on rate cuts
https://www.channelnewsasia.com/business/us-uk-and-sweden-pile-rate-cuts-4735606
Canada adds fewer jobs than expected in October, wages rise
https://www.businesstimes.com.sg/international/canada-adds-fewer-jobs-expected-october-wages-rise
China’s economic rescue plan leaves commodities stuck on pause
https://www.businesstimes.com.sg/international/chinas-economic-rescue-plan-leaves-commodities-stuck-pause
China unveils 10 trillion yuan debt swap to help local governments
https://www.businesstimes.com.sg/international/china-unveils-10-trillion-yuan-debt-swap-help-local-governments
https://www.channelnewsasia.com/east-asia/china-economy-raise-local-government-debt-ceiling-4735556
Foreign firms pull more money from China’s slowing economy
https://www.businesstimes.com.sg/international/foreign-firms-pull-more-money-chinas-slowing-economy
https://www.straitstimes.com/business/foreign-firms-pull-more-money-from-chinas-slowing-economy
China consumer prices rise at slower rate in October
https://www.businesstimes.com.sg/international/china-consumer-prices-rise-slower-rate-october
https://www.channelnewsasia.com/east-asia/china-economy-consumer-prices-october-2024-4737746
https://www.scmp.com/economy/economic-indicators/article/3285877/chinas-inflation-edges-october-pressure-remains-despite-monetary-easing
Hong Kong finance chief sees growth near lower end of forecast
https://www.businesstimes.com.sg/international/hong-kong-finance-chief-sees-growth-near-lower-end-forecast
Hong Kong home prices to bottom out in short term after rate cut, analysts say
https://www.scmp.com/business/article/3285816/hong-kong-home-prices-bottom-out-short-term-after-rate-cut-analysts-say
Why didn’t Hong Kong set stricter rules to wipe out its notorious shoebox flats?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3285969/why-didnt-hong-kong-set-stricter-rules-wipe-out-its-notorious-shoebox-flats
DBS Bank buys entire 75th floor in The Center, extending foray into Hong Kong property market
https://www.scmp.com/business/article/3285775/dbs-bank-buys-entire-75th-floor-center-extending-foray-hong-kong-property-market
Despite ‘new Singapore’ ambitions, Balinese hope construction freeze can tame tourism
https://www.businesstimes.com.sg/international/despite-new-singapore-ambitions-balinese-hope-construction-freeze-can-tame-tourism
BOJ divided on rate hike timing, October summary shows
https://www.channelnewsasia.com/business/boj-divided-rate-hike-timing-october-summary-shows-4739781
Japan’s household cut spending once again as prices rise
https://www.businesstimes.com.sg/international/japans-household-cut-spending-once-again-prices-rise
Economists cut South Korea growth views ahead of Trump’s return
https://www.businesstimes.com.sg/international/economists-cut-south-korea-growth-views-ahead-trumps-return
Thailand plans to raise daily minimum wage in new year: minister
https://www.businesstimes.com.sg/international/asean/thailand-plans-raise-daily-minimum-wage-new-year-minister
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