Singapore Economy

Budget 2016 to focus on slowdown, economic transition: Heng Swee Keat

The upcoming Budget will look at how it can help companies cope with the current economic downturn, even as it looks towards assisting all stakeholders to navigate new landscapes as Singapore's economy transitions. "We have to continue to focus on what we need to do to manage in this slower growth environment, but at the same time, to focus on what are the medium-term opportunities that we'll continue to have," Finance Minister Heng Swee Keat told the media after a visit to Pan Asia Logistics in Tuas on Friday.

http://www.businesstimes.com.sg/government-economy/singapore-budget-2016/budget-2016-to-focus-on-slowdown-economic-transition-heng


'Keep calm and carry on' as Singapore economy slows

Building supplies firm M Metal is no stranger to the woes plaguing small companies here - rising business costs, an acute manpower shortage and thinning margins. Despite these challenges, the company's revenues have remained resilient - until now.

http://www.straitstimes.com/business/economy/keep-calm-and-carry-on-as-singapore-economy-slows


Singapore Real Estate

Africa beckons, as Surbana Jurong eyes 40-60% of revenue from overseas in 3-5 years

Surbana Jurong Pte Ltd, which secured two major contracts in Africa recently, is drawing up plans for international expansion as it shoots for 40-60 per cent of revenue contribution from overseas markets in the next three to five years. Sharing that target is Teo Eng Cheong, former CEO of International Enterprise Singapore, who is two months into his new role at Surbana Jurong as chief executive of international operations.

http://www.businesstimes.com.sg/real-estate/africa-beckons-as-surbana-jurong-eyes-40-60-of-revenue-from-overseas-in-3-5-years


2016's first EC launch outperforms recent projects

The year's first executive condominium (EC) launch, Wandervale, saw about half of its 534 available units sold at its launch over the weekend, The Business Times understands. Seen against the poorer sales performances of other recent ECs at launch, Wandervale's showing demonstrated that ECs can still attract homebuyers if located and priced right.

http://www.businesstimes.com.sg/real-estate/2016s-first-ec-launch-outperforms-recent-projects

http://www.straitstimes.com/business/property/solid-weekend-sales-for-wandervale-ec


Camden Park bungalow plots owned by late-ACS principal on market

Two adjacent bungalow plots in the Camden Park Good Class Bungalow (GCB) Area near the Botanic Gardens that used to belong to the late Anglo-Chinese School (ACS) principal Earnest Lau have been put up for sale by tender. Mr Lau died in March 2011; his wife Kwa Geok Lian, who was a former principal of Anglo-Chinese Junior School, had died much earlier. The couple did not have any children and Mr Lau is understood to have bequeathed the Camden Road properties to the Kampong Kapor Methodist Church, where he was active.

http://www.businesstimes.com.sg/real-estate/camden-park-bungalow-plots-owned-by-late-acs-principal-on-market


More private property owners selling at loss as resale, rental markets weaken

Given likely higher interest rates and rising private housing supply, property investor Mr Lim, 44, is looking to exit the market. He bought a two-bedroom unit in Choa Chu Kang for $915,000 about four years ago and it was completed a year ago. Mr Lim is not renting out the unit, but stays there sometimes.

http://www.straitstimes.com/business/more-private-property-owners-selling-at-loss-as-resale-rental-markets-weaken


Global Economy & Global Real Estate

China will struggle to reach GDP targets till 2020: analysts

http://www.businesstimes.com.sg/government-economy/china-will-struggle-to-reach-gdp-targets-till-2020-analysts


Eviction economy stands in the way of decent housing in the US

http://www.businesstimes.com.sg/real-estate/eviction-economy-stands-in-the-way-of-decent-housing-in-the-us


Johor's Forest City now a duty-free zone

http://www.businesstimes.com.sg/real-estate/johors-forest-city-now-a-duty-free-zone


Blackstone expects lower property returns as CMBS falters

http://www.businesstimes.com.sg/real-estate/blackstone-expects-lower-property-returns-as-cmbs-falters

http://www.bloomberg.com/news/articles/2016-03-04/blackstone-s-gray-sees-lower-real-estate-returns-as-cmbs-falters


Milan eclipses Rome in home sales

http://www.businesstimes.com.sg/real-estate/milan-eclipses-rome-in-home-sales


Fortress bets on Japan property

http://www.businesstimes.com.sg/wealth/fortress-bets-on-japan-property


Shanghai Property Market Is `Overheated,' Top City Official Says

http://www.bloomberg.com/news/articles/2016-03-06/shanghai-property-market-is-overheated-top-city-official-says


Student Lender SoFi Said to Explore Mortgage REIT Formation

http://www.bloomberg.com/news/articles/2016-03-04/student-lender-sofi-said-to-explore-mortgage-reit-formation


World's Best REIT Hands Fortress 700% Gain on Bets After Tsunami

http://www.bloomberg.com/news/articles/2016-03-04/world-s-best-reit-hands-fortress-700-gain-on-bets-after-tsunami


Property bubble fears in Chinese cities

http://www.straitstimes.com/asia/east-asia/property-bubble-fears-in-chinese-cities


Foreign workers 'boon to KL economy'

http://www.straitstimes.com/asia/se-asia/foreign-workers-boon-to-kl-economy