Singapore Real Estate / Built Environment
Singapore property investment sales pick up in Q3; up 24.8% qoq to S$8.3 billion
Real estate investment activity in Singapore has seen signs of picking up since the US Federal Reserve announced a 0.5 per cent rate cut in September, creating some optimism in the market, indicated a Knight Frank Singapore report on Tuesday (Oct 8).
https://www.businesstimes.com.sg/property/singapore-property-investment-sales-pick-q3-24-8-qoq-s8-3-billion
https://www.straitstimes.com/business/property/singapore-property-investment-sales-up-248-from-previous-quarter-on-us-rate-cut-anticipation
Graves in former St John’s Church cemetery to be exhumed to build homes in Tengah
Singapore – Graves at a 140-year-old church cemetery in Jurong will soon be exhumed to make way for homes in the new town of Tengah. Located near Tengah Garden Avenue, the graves were part of the old St John’s Church cemetery.
https://www.straitstimes.com/singapore/graves-in-former-st-john-s-church-cemetery-to-be-exhumed-to-build-homes-in-tengah
Singapore Economy
Singapore, South Korea to form strategic partnership by 2025; boost economic and defence ties
Singapore and South Korea will elevate their relationship to a strategic partnership by 2025, with plans to deepen cooperation in key sectors such as the digital economy, defence, and trade.
https://www.businesstimes.com.sg/singapore/singapore-south-korea-form-strategic-partnership-2025-boost-economic-and-defence-ties
https://www.straitstimes.com/singapore/sharing-of-trade-logistics-data-will-help-s-korea-s-pore-boost-supply-chain-resilience-president-yoon
https://www.channelnewsasia.com/singapore/south-korea-president-yoon-suk-yeol-singapore-state-visit-pm-wong-asean-4665601
https://www.scmp.com/news/asia/southeast-asia/article/3281493/singapore-south-korean-deepen-ai-start-cooperation-strategic-partners
https://www.zaobao.com.sg/news/singapore/story20241008-4989630
Singapore sets new national climate target for 2035, Govt invites public feedback
Singapore – A public consultation exercise on Singapore’s current decarbonisation plans was launched on Oct 8, with the Government seeking feedback ahead of submitting new climate targets for 2035 to the UN.
https://www.straitstimes.com/singapore/singapore-sets-new-national-climate-target-for-2035-govt-invites-public-feedback
Business News
CapitaLand Ascott Trust sells Citadines Karasuma-Gojo Kyoto for 6.2 billion yen
CapitaLand Ascott Trust (Clas) has divested Citadines Karasuma-Gojo Kyoto in Japan for 6.2 billion yen (S$53.1 million). On Wednesday (Oct 9), its managers said the sale price is 40.1 per cent above the 124-unit serviced residence’s book value as at end-2023.
https://www.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-sells-citadines-karasuma-gojo-kyoto-6-2-billion-yen
GIC weighs sale of US$5 billion stake in India’s Greenko, sources say
GIC has been considering options for its 50 per cent stake in India’s Greenko Energy, including a possible sale that could be worth around US$5 billion, sources said.
https://www.businesstimes.com.sg/companies-markets/energy-commodities/gic-weighs-sale-us5-billion-stake-indias-greenko-sources-say
Views, Reviews, Forum and Others
Singapore PRs get visa-free entry to Indonesia’s Batam, Bintan
Indonesia will give visa-free entry to foreigners holding Singapore permanent residency (PR) to visit Batam, Bintan and the Karimun Islands, aiming to boost tourism and investment in the regional economic zones.
https://www.businesstimes.com.sg/international/asean/singapore-prs-get-visa-free-entry-indonesias-batam-bintan
Emergency, business hotlines restored after hours-long Singtel landline outage
The hotlines of the Singapore Civil Defence Force (SCDF) and police, as well as those of hospitals and banks, could not be reached on Tuesday (Oct 8) in an unprecedented islandwide disruption involving Singtel’s telecommunications network.
https://www.businesstimes.com.sg/singapore/emergency-business-hotlines-restored-after-hours-long-singtel-landline-outage
https://www.straitstimes.com/singapore/singtel-phone-line-users-report-service-outage
https://www.channelnewsasia.com/commentary/singtel-landline-outage-emergency-hotlines-down-importance-relevance-snap-insight-4665621
https://www.zaobao.com.sg/news/singapore/story20241009-4991438
https://www.scmp.com/news/asia/southeast-asia/article/3281583/singtel-outage-disrupts-emergency-calls-and-banking-services-across-singapore
Global Economy & Real Estate
US trade deficit narrows sharply in August
https://www.businesstimes.com.sg/international/us-trade-deficit-narrows-sharply-august
Police, US authorities to recover over US$5 million from business phishing scam
https://www.businesstimes.com.sg/singapore/police-us-authorities-recover-over-us5-million-business-phishing-scam
https://www.straitstimes.com/singapore/s-pore-us-intercept-over-65-million-lost-in-business-e-mail-compromise-scam
Abu Dhabi tops trillion-dollar sovereign wealth league, edges out Oslo and Singapore
https://www.businesstimes.com.sg/international/global/abu-dhabi-tops-trillion-dollar-sovereign-wealth-league-edges-out-oslo-and-singapore
https://www.straitstimes.com/business/economy/abu-dhabi-tops-trillion-dollar-sovereign-wealth-league-ahead-of-oslo-and-singapore
Australia business conditions rise in September as price pressures ease
https://www.businesstimes.com.sg/international/australia-business-conditions-rise-september-price-pressures-ease
Australia central bank discussed future cases for raising, lowering rates
https://www.businesstimes.com.sg/companies-markets/banking-finance/australia-central-bank-discussed-future-cases-raising-lowering-rates
Li calls for experts’ opinions as China vows to stabilise growth
https://www.businesstimes.com.sg/international/li-calls-experts-opinions-china-vows-stabilise-growth
China vows to hit economic goals, stops short of large stimulus
https://www.businesstimes.com.sg/international/china-vows-hit-economic-goals-stops-short-large-stimulus
https://www.straitstimes.com/business/economy/china-vows-to-hit-economic-goals-but-stops-short-of-large-stimulus
China holiday spending lags pre-covid era, showing stimulus need
https://www.businesstimes.com.sg/international/china-holiday-spending-lags-pre-covid-era-showing-stimulus-need
https://www.straitstimes.com/business/economy/china-s-golden-week-holiday-spending-lags-pre-covid-era-showing-more-stimulus-need
https://www.channelnewsasia.com/east-asia/chinas-golden-week-travel-surges-spending-lags-pre-pandemic-numbers-4665231
https://www.scmp.com/economy/economic-indicators/article/3281542/china-golden-week-saw-spending-regain-its-shine-buoyed-confidence-boost
China’s home sales saw ‘golden week’ spurts. Are they enough to save the market?
https://www.scmp.com/business/china-business/article/3281584/chinas-home-sales-saw-golden-week-spurts-are-they-enough-save-market
Dubai ruler’s firm considers new Reit amid city’s housing boom
https://www.businesstimes.com.sg/property/dubai-rulers-firm-considers-new-reit-amid-citys-housing-boom
German economy may contract in 2024, Bundesbank chief Nagel says
https://www.businesstimes.com.sg/international/german-economy-may-contract-2024-bundesbank-chief-nagel-says
German industrial production rises but recession risk remains
https://www.businesstimes.com.sg/international/german-industrial-production-rises-recession-risk-remains
Germany said to tap Citi, Deutsche Bank, UBS for Uniper selldown
https://www.businesstimes.com.sg/international/germany-said-tap-citi-deutsche-bank-ubs-uniper-selldown
Hong Kong’s economy needs firing up. Can John Lee deliver with his policy address?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3281599/hong-kongs-economy-needs-firing-can-john-lee-deliver-his-policy-address
Banks tap Hong Kong’s discount window for most funds since 2019
https://www.businesstimes.com.sg/companies-markets/banking-finance/banks-tap-hong-kongs-discount-window-most-funds-2019
Hong Kong developers to make nearly 18,000 new flats available to homebuyers
https://www.scmp.com/business/article/3281451/hong-kong-developers-make-nearly-18000-new-flats-available-homebuyers
Japan sees most bankruptcies in a decade amid rising costs
https://www.businesstimes.com.sg/international/japan-sees-most-bankruptcies-decade-amid-rising-costs
Malaysia must cut petrol subsidy to meet budget aim: World Bank
https://www.businesstimes.com.sg/international/asean/malaysia-must-cut-petrol-subsidy-meet-budget-aim-world-bank
South Korea touts progress in cooling real estate ahead of central bank meeting
https://www.businesstimes.com.sg/property/south-korea-touts-progress-cooling-real-estate-ahead-central-bank-meeting
Thailand sees tourist arrivals at pre-pandemic level next year
https://www.businesstimes.com.sg/international/asean/thailand-sees-tourist-arrivals-pre-pandemic-level-next-year
Tax worries knock UK business confidence: survey
https://www.businesstimes.com.sg/international/tax-worries-knock-uk-business-confidence-survey
Grocery price inflation rises back to 2% in the UK
https://www.businesstimes.com.sg/international/grocery-price-inflation-rises-back-2-uk
Nick Candy vows to outdo UAE developers with ultra-luxury homes
https://www.businesstimes.com.sg/property/nick-candy-vows-outdo-uae-developers-ultra-luxury-homes
Trump Organization to develop US$1.5 billion golf course and hotel project in Vietnam
https://www.businesstimes.com.sg/international/asean/trump-organization-develop-us1-5-billion-golf-course-and-hotel-project-vietnam
https://www.channelnewsasia.com/business/trump-organization-develop-15-billion-golf-course-and-hotel-project-vietnam-4665386
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.