Singapore Real Estate / Built Environment
URA makes rare offer to grant developers bonus floor area to keep Golden Mile Tower’s cinema block
The owners of Golden Mile Tower in Beach Road have been offered bonus gross floor area by the authorities if the complex is redeveloped, provided that the commercial complex’s iconic cinema block is conserved.
ABSD tweak, housing affordability, urban rejuvenation lead property players’ Budget wish list
Property players are calling for market cooling measures to be relaxed and for more to be done to tackle housing affordability ahead of Budget 2025 in February.
Good Class Bungalow sales volume in 2025 expected to match, if not exceed, last year’s tally
After a strong performance in the Good Class Bungalow (GCB) market in the second half of 2024 lifted full-year sales above 2023 levels, market watchers are upbeat about prospects in 2025.
Dalvey Road GCB property belonging to Ong Teng Cheong’s family up for sale at S$60 million
A freehold Good Class Bungalow (GCB) property belonging to former president Ong Teng Cheong’s family has been put up for sale for S$60 million.
https://www.zaobao.com.sg/realtime/singapore/story20250108-5702724
Singapore News
Landmark Bill tackling workplace discrimination passed in Parliament
Singapore – A landmark Bill tackling workplace discrimination was passed in Parliament on Jan 8, with MPs present unanimously supporting the new law to give workers greater protection against biases on grounds like age and nationality.
https://www.zaobao.com.sg/realtime/singapore/story20250108-5706228
Over 500,000 searches made on Acra’s portal from Dec 9 to 13 while NRIC numbers were visible
More than 500,000 search queries were made on the Accounting and Corporate Regulatory Authority’s (Acra) Bizfile portal between Dec 9 and 13, during the period when full National Registration Identity Card (NRIC) numbers were visible in free search results. This was far above the usual daily traffic of 2,000 to 3,000 queries, Second Minister for Finance Indranee Rajah told Parliament on Wednesday (Jan 8).
https://www.zaobao.com.sg/realtime/singapore/story20250108-5703611
Private sector should not use NRIC numbers for authentication; government had planned to stop this
National Registration Identity Card (NRIC) numbers in Singapore are sometimes incorrectly used, and the government had planned to stop this while the problem was “relatively contained”, Minister for Digital Development and Information Josephine Teo said on Wednesday (Jan 8).
https://www.zaobao.com.sg/realtime/singapore/story20250108-5703594
SkillsFuture training, culture of learning needed to keep adults competent: Chan Chun Sing
Singapore’s job-specific SkillsFuture efforts must be coupled with a “general culture” of reading, to maintain adults’ literacy proficiency and ability to process and manage information, Minister for Education Chan Chun Sing said in Parliament on Wednesday (Jan 8).
https://www.channelnewsasia.com/singapore/4000-skillsfuture-credit-top-up-40-years-old-4844681
International law crucial in times of geopolitical divisions: Vivian Balakrishnan
Support for international law and a strong rules-based system are essential and have an impact on the sovereignty and security of all countries, especially small, vulnerable states like Singapore, said Foreign Minister Vivian Balakrishnan on Jan 8. But as geopolitical divisions and conflicts rage on, there is also great concern as this multilateral system comes under stress, said Dr Balakrishnan.
Singapore airports have no concrete structures like one in Jeju accident: Chee Hong Tat
Airports in Singapore do not have concrete structures located near runways similar to the one that contributed to the severity of the aviation disaster Jeju Air Flight 2216, said Transport Minister Chee Hong Tat in Parliament on Wednesday (Jan 8).
https://www.channelnewsasia.com/singapore/jeju-air-crash-concrete-wall-singapore-airport-4844611
Business News
Centurion surges 6.3% after news that it is exploring a Reit listing
Shares of accommodation-asset operator Centurion surged 6.3 per cent on Wednesday (Jan 8) following the previous day’s news that it is exploring a real estate investment trust (Reit) listing on the Singapore Exchange (SGX).
Gordon Tang and wife increase cash offer for Suntec Reit to S$1.19 a unit
The mandatory conditional cash offer made by property tycoon Gordon Tang and his wife Celine to acquire all the units of Suntec Real Estate Investment Trust (Reit) was on Wednesday (Jan 8) raised to S$1.19 per unit, from the earlier S$1.16 per unit announced on Dec 5 last year.
https://www.zaobao.com.sg/realtime/singapore/story20250108-5706932
Views, Reviews, Forum and Others
Travellers from dozens of countries, including Singapore, face UK entry fee
Visitors from dozens of countries, including Singapore, Japan, the United States and Canada, must now pay to enter the UK after a new visa-waiver entry system took effect on Wednesday (Jan 8). The Electronic Travel Authorisation (ETA) scheme – similar to the ESTA system in the US – requires visitors who do not need a visa to enter Britain to acquire pre-travel authorisation.
‘Heat stress is a silent killer’: How heat can affect mental health in workers
The impact of heat on mental health is a less visible sign of heat stress, but it is one that people in South-east Asia should pay attention to as the world warms, experts at a heat conference warned on Jan 8.
Global Economy & Real Estate
Fed officials worried about inflation impact from Trump policies, minutes show
Trump mulls national economic emergency declaration to allow for new tariff programme: CNN
US consumer borrowing drops on plunge in credit-card balances
US trade deficit with Vietnam soars beyond US$110 billion, as weak dong boosts exports
Australia’s core inflation slows, keeping door open to February rate cut
Australian rents are rising at the slowest pace in three years
https://www.businesstimes.com.sg/property/australian-rents-are-rising-slowest-pace-three-years
BlackRock to cut about 1% of its employees, staff memo says
China boosts consumer subsidies, vows more funding to aid demand
Hong Kong arts hub proposes to build 1,995 flats to ease financial burden
Hong Kong to begin handing out HK$3,000 rewards for identifying public housing abuse
Hong Kong developer NWD’s shares slump amid slow progress on cutting debt
Japan Nov real wages fall for 4th straight month as inflation weighs
Japan flags foreign takeover of 7-Eleven owner as a national security issue
Japan’s consumer mood worsens, casting doubt on rate hike timing
Malaysia’s growth set to surpass 5% this year, minister says
Malaysia-Singapore economic zone to offer tax rates as low as 5%
Vietnam seeks 23 million visitors this year as tourism recovers
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