Singapore Real Estate / Built Environment
CDL launches Woodlands condo Norwood Grand with prices starting from S$988,000
City Developments Limited (CDL) will start previews for its Woodlands project, Norwood Grand, on Friday (Oct 4) with prices starting from S$988,000 and just under S$2,000 per square foot (psf).
https://www.businesstimes.com.sg/property/cdl-launches-woodlands-condo-norwood-grand-prices-starting-s988000
Singapore’s prime office market ‘heading nowhere’ as firms rein in spending, say experts
Singapore: Businesses are remaining cautious about spending and investment plans and that, alongside the new normal of hybrid work, will continue to weigh on Singapore’s prime office market, according to industry experts at real estate consultancies.
https://www.channelnewsasia.com/business/singapore-prime-office-market-cbd-subdued-caution-business-spending-4648726
HDB resale prices up 2.5% in Q3, with more flats sold
Singapore – Prices of Housing Board resale flats rose 2.5 per cent from July to September, a slightly faster clip than the 2.3 per cent growth logged in the second quarter of 2024.
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-up-25-in-q3-with-more-flats-sold
https://www.businesstimes.com.sg/property/hdb-resale-prices-speed-q3-rising-2-5-over-half-flats-now-sold-s600000-or-more
https://www.zaobao.com.sg/news/singapore/story20241001-4894951
Singapore Economy
Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong
SINGAPORE: As Singapore moves into the next phase of its Smart Nation journey, the “building blocks” of growth, community and trust will be key, said Prime Minister Lawrence Wong. In a speech at the Punggol Digital District on Tuesday (Oct 1) to launch the Smart Nation 2.0 initiative, Mr Wong said that this will be a work in progress as digital developments unfold, and as Singapore develops new and better solutions.
https://www.businesstimes.com.sg/singapore/new-smart-nation-2-0-initiatives-include-s120-million-set-aside-ai-adoption
https://www.straitstimes.com/singapore/s-pore-refreshes-smart-nation-goals-with-plans-to-tackle-digital-harms-accelerate-ai-know-how
https://www.zaobao.com.sg/news/singapore/story20241002-4899997
https://www.channelnewsasia.com/singapore/smart-nation-20-launch-growth-community-trust-building-blocks-refreshed-strategies-pm-wong-4651876
TPG, GIC to buy energy meter maker Techem for US$7.5 billion
Private equity firm TPG and Singapore sovereign wealth fund GIC agreed to buy German energy metering company Techem GmbH from majority owner Partners Group Holding for a total consideration of approximately US$7.5 billion.
https://www.businesstimes.com.sg/companies-markets/tpg-gic-buy-energy-meter-maker-techem-us7-5-billion
https://www.straitstimes.com/business/tpg-gic-to-buy-energy-meter-maker-techem-in-96-billion-deal
https://www.zaobao.com.sg/realtime/singapore/story20241001-4899400
Views, Reviews, Forum and Others
East-West Line MRT services fully resume after six-day disruption
Singapore: Train services between Jurong East and Buona Vista MRT stations resumed on Tuesday morning (Oct 1) after a six-day disruption. When CNA visited Buona Vista and Boon Lay MRT stations on Tuesday morning, operations were running smoothly and SMRT staff could be seen guiding commuters and answering questions.
https://www.channelnewsasia.com/singapore/east-west-line-mrt-jurong-east-buona-vista-train-resumes-service-4649591
‘We can’t do much’: Car-sharing, rental firms in Singapore left frustrated by VEP process as Oct 1 deadline arrives
Singapore: The confusion over whether a Vehicle Entry Permit (VEP) is needed for cars to travel to Malaysia from Tuesday (Oct 1) has extended to car-sharing and rental firms.
https://www.channelnewsasia.com/singapore/vep-vehicle-entry-permit-malaysia-car-rental-sharing-oct-1-4649106
Global Economy & Real Estate
Global borrowing binge brings record US$600 billion of bond sales
https://www.businesstimes.com.sg/companies-markets/global-borrowing-binge-brings-record-us600-billion-bond-sales
US dollar gains as Fed’s Powell pushes back on jumbo rate-cut bets
https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-dollar-gains-feds-powell-pushes-back-jumbo-rate-cut-bets
US construction spending falls in August on single-family homebuilding
https://www.businesstimes.com.sg/property/us-construction-spending-falls-august-single-family-homebuilding
US manufacturing steady in September; prices paid measure lowest in nine months
https://www.businesstimes.com.sg/international/us-manufacturing-steady-september-prices-paid-measure-lowest-nine-months
US job openings rebound in August; hiring soft
https://www.businesstimes.com.sg/international/us-job-openings-rebound-august-hiring-soft
China property: Shanghai and Shenzhen luxury home sales soar after stimulus package
https://www.scmp.com/business/china-business/article/3280513/china-property-shanghai-and-shenzhen-luxury-home-sales-soar-after-stimulus-package?module=top_story&pgtype=section
Global factory activity hit by economic uncertainty
https://www.businesstimes.com.sg/international/global/global-factory-activity-hit-economic-uncertainty
Eurozone inflation falls under 2% for first time since 2021
https://www.businesstimes.com.sg/international/eurozone-inflation-falls-under-2-first-time-2021
https://www.bloomberg.com/news/articles/2024-10-01/euro-zone-inflation-drops-below-2-backing-ecb-rate-cut-bets?srnd=phx-economics-v2
German manufacturing sector contracts at fastest rate in a year, PMI shows
https://www.businesstimes.com.sg/international/german-manufacturing-sector-contracts-fastest-rate-year-pmi-shows
India’s factory growth cooled to eight-month low in September: PMI
https://www.businesstimes.com.sg/international/indias-factory-growth-cooled-eight-month-low-september-pmi
Indonesia’s September annual inflation at 1.84%, lower than expected
https://www.businesstimes.com.sg/international/asean/indonesias-september-annual-inflation-1-84-lower-expected
New Japan PM appoints Abenomics proponent as finance minister
https://www.businesstimes.com.sg/international/new-japan-pm-appoints-abenomics-proponent-finance-minister
https://www.straitstimes.com/world/japans-new-pm-ishiba-unveils-cabinet-ahead-of-snap-election
Ringgit’s surge pressures Singapore shoppers and Malaysians working across borders
https://www.businesstimes.com.sg/international/asean/ringgits-surge-pressures-singapore-shoppers-and-malaysians-working-across-borders
Oil prices rise more than $1 on escalating tensions in the Middle East
https://www.channelnewsasia.com/business/oil-prices-rise-more-1-escalating-tensions-middle-east-4653391
South Korea Sept consumer inflation +1.6% y/y, way below forecast
https://www.channelnewsasia.com/business/south-korea-inflation-cools-more-expected-rate-cut-talk-grows-4653406
Seoul’s apartment market cools more ahead of Bank of Korea rate decision
https://www.businesstimes.com.sg/property/seouls-apartment-market-cools-more-ahead-bank-korea-rate-decision
Samsung to cut thousands of jobs as part of worldwide layoffs
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/samsung-cut-thousands-jobs-part-worldwide-layoffs
https://www.theedgesingapore.com/digitaledge/news/samsung-cut-thousands-jobs-amid-struggles-ai-market
Saudi Red Sea developer plans to raise 14 billion riyals in 12 months
https://www.businesstimes.com.sg/property/saudi-red-sea-developer-plans-raise-14-billion-riyals-12-months
UK budget worries weigh on factory activity, PMI shows
https://www.businesstimes.com.sg/international/uk-budget-worries-weigh-factory-activity-pmi-shows
Vietnam’s factory activity contracts on typhoon, Taiwan weakens
https://www.businesstimes.com.sg/international/vietnams-factory-activity-contracts-typhoon-taiwan-weakens
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