Singapore Real Estate
State properties find new purpose as hubs for non-profits and charities
Singapore – At the former Kampong Eunos Community Centre at 10 Kampong Eunos, a group of young people from different socio-economic backgrounds have come together to dabble in hands-on projects in robotics and artificial intelligence.
https://www.straitstimes.com/singapore/state-properties-find-new-purpose-as-hubs-for-non-profits-and-charities
askST: How will raising annual value bands for owner-occupied homes lower property tax bills?
Singapore – For many home owners, Budget 2024 brought relief as the annual value (AV) bands for owner-occupied residential properties will be raised from Jan 1, 2025. As a result, this will likely help ease many home owners’ heavier property tax burden arising from rent increases since 2022.
https://www.straitstimes.com/singapore/housing/askst-how-will-raising-annual-value-bands-for-owner-occupied-homes-lower-property-tax-bills
Ninth floor of Solitaire on Cecil sold to China buyer for S$51.48 million
The ninth floor of the freehold Solitaire on Cecil development has been sold for S$51.48 million, or S$4,130 per square foot based on the strata area of 12,465 sq ft. The buyer, Singapore-incorporated Long Twinkle Trading, is involved with the wholesale of metals and metal ores.
https://www.businesstimes.com.sg/property/ninth-floor-solitaire-cecil-sold-china-buyer-s-51-48-million
Waterfront dream: Sentosa Cove condo prices hit $1,648 psf – is it too good to miss?
Singapore – On April 10, a luxury development in Sentosa Cove previously marketed to wealthy investors drew an eager crowd of potential home buyers, after the owner dropped its prices by some 40 per cent.
https://www.straitstimes.com/singapore/waterfront-dream-sentosa-cove-condo-prices-hit-1648-psf-is-it-too-good-to-miss
Singapore Economy
Vital for Singapore to build knowledge on nuclear power, safety: DPM Wong
It is important for Singapore to build know-how on nuclear power and safety, even as the country has yet to decide whether to adopt the energy source, said Deputy Prime Minister Lawrence Wong.
https://www.businesstimes.com.sg/singapore/economy-policy/vital-singapore-build-knowledge-nuclear-power-safety-dpm-wong
Upgraded ties with France, Germany to benefit tech, sustainability, defence: DPM Wong
Singapore’s plans to upgrade relations with France and Germany will open up new areas of cooperation, such as in artificial intelligence (AI), sustainability and defence, said Deputy Prime Minister Lawrence Wong on Friday (Apr 12).
https://www.businesstimes.com.sg/singapore/economy-policy/upgraded-ties-france-germany-benefit-tech-sustainability-defence-dpm-wong
https://www.straitstimes.com/singapore/renewing-and-affirming-partnerships-important-in-troubled-world-dpm-lawrence-wong
Business News
Boustead Singapore looks ahead following re-merger with Boustead Projects
Boustead Singapore’s group chief executive officer Wong Fong Fui is known for being able to turn around businesses and actively make deals for the conglomerate.
https://www.businesstimes.com.sg/companies-markets/boustead-singapore-looks-ahead-following-re-merger-boustead-projects
Mapletree Investments acquires 8,192 student housing beds in UK, Germany for £1 billion
Real estate giant Mapletree Investments has acquired 8,192 student housing beds across 19 cities in the UK and Germany from Cuscaden Peak Investments, in a deal worth £1 billion (S$1.7 billion).
https://www.businesstimes.com.sg/companies-markets/mapletree-investments-acquires-8-192-student-housing-beds-uk-germany-ps1-billion
https://www.straitstimes.com/business/companies-markets/mapletree-investments-acquires-8192-student-housing-beds-in-uk-germany-for-17-billion
Sabana Reit to hold requisitioned EGM on or before May 25
The manager of Sabana Industrial Real Estate Investment Trust (Reit) said on Monday (Apr 15) that it intends to convene the requisitioned extraordinary general meeting (EGM) on or before May 25.
https://www.businesstimes.com.sg/companies-markets/sabana-reit-hold-requisitioned-egm-or-may-25
Views, Reviews, Forum and Others
Singaporeans advised to defer all travel to Iran: MFA
Singapore – Singaporeans are advised to defer all travel to Iran, while those in the country should remain vigilant and monitor developments closely, said the Ministry of Foreign Affairs (MFA) on April 14.
https://www.straitstimes.com/singapore/singaporeans-advised-to-defer-all-travel-to-iran-mfa
Singapore Airlines, Scoot flights avoid Iranian airspace amid escalating Middle East conflict
Singapore – Singapore Airlines (SIA) and budget carrier Scoot have stopped flying over Iranian airspace, after Iran on April 13 launched its first direct attack on Israeli territory. The Israeli military said Iran has fired more than 300 drones and missiles at Tel Aviv since April 13.
https://www.straitstimes.com/singapore/flights-from-singapore-airlines-scoot-to-avoid-iranian-air-space-amid-escalating-middle-east-conflict
https://www.channelnewsasia.com/singapore/singapore-airlines-stops-using-iran-airspace-israel-hamas-war-middle-east-escalation-4264011
Are the days of high interest rates for savings accounts coming to an end?
Singapore: Cash savers have been getting excellent returns in recent years, with banks dangling interest rates of over 7 per cent for savings accounts. But with the latest rate cuts, one can’t help but ask: Are the good times coming to an end?
https://www.channelnewsasia.com/singapore/banks-savings-accounts-high-interest-rates-coming-end-uob-4250281
Global Economy & Real Estate
The hidden costs of ‘slowbalisation’
https://www.businesstimes.com.sg/opinion-features/hidden-costs-slowbalisation
US import prices post third straight monthly gain in March
https://www.businesstimes.com.sg/international/us-import-prices-post-third-straight-monthly-gain-march
US consumer sentiment slips in April; inflation expectations rise
https://www.businesstimes.com.sg/international/us-consumer-sentiment-slips-april-inflation-expectations-rise
IMF sees growth edging higher but still warns of ‘Tepid Twenties’
https://www.businesstimes.com.sg/international/global/imf-sees-growth-edging-higher-still-warns-tepid-twenties
Canada to lease government land in plan to add millions of homes
https://www.businesstimes.com.sg/property/canada-lease-government-land-plan-add-millions-homes
Canada’s 30-year mortgages seen helping ‘sliver’ of market
https://www.businesstimes.com.sg/property/canada-s-30-year-mortgages-seen-helping-sliver-market
China overtakes Germany in some exports, raising trade profile and EU eyebrows ahead of Scholz visit
https://www.scmp.com/economy/china-economy/article/3258825/china-overtakes-germany-some-exports-raising-trade-profile-and-eu-eyebrows-ahead-scholz-visit?module=top_story&pgtype=section
China’s March exports and imports shrink, miss forecasts by big margins
https://www.businesstimes.com.sg/international/china-s-march-exports-and-imports-shrink-miss-forecasts-big-margins
China banks won’t blame staff if developer loans go bad
https://www.businesstimes.com.sg/property/china-banks-won-t-blame-staff-if-developer-loans-go-bad
China wages snap three-quarter slide, signalling upturn in labour
https://www.businesstimes.com.sg/international/china-wages-snap-three-quarter-slide-signalling-upturn-labour
China property crisis deepens with Vanke in market crosshairs
https://www.businesstimes.com.sg/property/china-property-crisis-deepens-vanke-market-crosshairs
German business is tangled in red tape
https://www.businesstimes.com.sg/international/german-business-tangled-red-tape
Global talent race: As people flock to Hong Kong’s elite visa scheme, questions emerge on criteria and diversity
https://www.channelnewsasia.com/asia/hong-kong-top-talent-pass-scheme-visa-employment-global-talent-race-mainland-chinese-4260471
9,578 buildings have not complied with Hong Kong fire safety orders, with a fifth in same district as blaze-hit property
https://www.scmp.com/news/hong-kong/society/article/3258806/9578-buildings-have-not-complied-hong-kong-fire-safety-orders-fifth-same-district-blaze-hit-property
CK Asset launches second batch of Blue Coast project to warm reception as Hong Kong home-buying curbs ease
https://www.scmp.com/business/article/3258904/ck-asset-launches-second-batch-blue-coast-project-warm-reception-home-buying-curbs-ease
Japan inflation to slow slightly, but cost-push pressures drag on consumption: Reuters poll
https://www.channelnewsasia.com/business/japan-inflation-slow-slightly-cost-push-pressures-drag-consumption-reuters-poll-4260441
Historic BOJ move drives up short-term costs for Japanese firms
https://www.businesstimes.com.sg/international/historic-boj-move-drives-short-term-costs-japanese-firms
More Japan households see higher prices a year from now: survey
https://www.businesstimes.com.sg/international/more-japan-households-see-higher-prices-year-now-survey
https://www.channelnewsasia.com/business/japan-households-inflation-expectations-rise-open-room-rate-hike-4260406
Notre-Dame nears re-opening five years after fire
https://www.businesstimes.com.sg/property/notre-dame-nears-re-opening-five-years-after-fire1
Philippines’ Hotel101, founded by Jollibee owner, eyes million-room, 100-country milestones while standardising rooms with dynamic pricing
https://www.scmp.com/business/article/3258919/philippines-hotel101-founded-jollibee-owner-eyes-million-room-100-country-milestones-while
South Korea’s central bank turns more cautious, indicates no rush to cut rates
https://www.straitstimes.com/business/south-korea-holds-rates-steady-after-polls-as-it-battles-sticky-inflation
https://www.channelnewsasia.com/business/south-koreas-central-bank-holds-rates-battling-sticky-inflation-4259981
Too busy for politics? South Korea’s young voters on what motivates them
https://www.businesstimes.com.sg/international/too-busy-politics-south-korea-s-young-voters-what-motivates-them
Thai group buys iconic Berlin department store
https://www.businesstimes.com.sg/property/thai-group-buys-iconic-berlin-department-store
UK economy’s growth in February points to exit from recession
https://www.businesstimes.com.sg/international/uk-economy-s-growth-february-points-exit-recession
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