Singapore Economy

PM Lee Hsien Loong on economy: Government's watching it

The Government is watching the uncertain global economic situation closely, but does not expect a severe downturn like in the global financial crisis of 2008, Prime Minister Lee Hsien Loong has said. In his traditional Chinese New Year message as Singaporeans usher in the Year of the Monkey, Mr Lee noted that the world economy is slowing, China's economy is softening, stock markets are down and business sentiment here is guarded.

Singapore economy projected to grow at modest pace of 1-3% in 2016: Iswaran

The “lively, flexible, quick-witted and versatile” qualities of the monkey are precisely what Singapore need to navigate what is shaping up to be a challenging year of the Fire Monkey, Minister for Trade and Industry (Industry) S Iswaran, said on Monday (Feb 8).

Singapore Real Estate

HDB resale prices down 0.5% in January: SRX

HDB resale prices fell 0.5 per cent in January 2016, compared to the month before that. This marks the first decline in the monthly index in seven months, data released by SRX Property on Thursday indicated.

Balestier Point could be up for collective sale

The owners of Balestier Point, a mixed-use freehold development incorporating the former Ruby Theatre, are looking at putting it up for collective sale. The reserve price for the property, comprising a two-storey retail podium with basement and an 18-storey residential block, could be around $250 million to $350 million. This works out to about $1,337 to $1,872 per sq ft per plot ratio (psf/pr).

Extend Lease Buyback to cover bigger flats

In focusing on the needs of elderly folk ("HDB focus on couples, needy and elderly folk"; Jan 22), HDB has introduced the Lease Buyback Scheme, which allows the elderly to lease back their homes in return for a financial sum while continuing to live in their homes.

Boon Keng DBSS flat owners reap big profits

Premium public housing project City View @ Boon Keng may have entered the resale market only this year, but at least 14 flats there have already changed hands. And their owners have been making handsome profits despite the bleak property market.

More than 3,000 rental tenants bought first flats since 2011: HDB

More than 3,000 rental tenants have purchased a flat in the Build-to-Order (BTO) or Sale of Balance Flats (SBF) sales exercises since 2011, the Housing and Development Board (HDB) said. In a news release, the HDB said about 73 per cent of the first-time home owners, who were formerly rental tenants, bought a three-room or smaller HDB flat, with the majority buying a three-room flat. To date, about 1,300 of the rental tenants have moved into their new flats, HDB said.

A space in Seletar to relax and connect

Long Beach, other East Coast Park outlets to go by next February

Hotel to debut pair of robot service staff

Renovation scheme gives home owners extra assurance

Construction firm fined over worker's death

Companies' Brief

Reits hold steady as quarterly results come in

The first few corporate results of the October-to-December earnings season have trickled in, and they are a mixed bag. An economic slowdown in Asia has hit a number of firms in the oil- and-gas and infrastructure segments, while a bland residential property market weighed on developers here.

S'pore eDevelopment's CEO puts his money where his mouth is

Singapore eDevelopment chief executive officer Chan Heng Fai has a grand vision that includes US real estate, private equity and even mobile technology in the future of the former construction company. Like many grand visions, Mr Chan requires capital. The problem for him is that minority shareholders baulked when he tried in December to persuade them to help provide that capital.

UE jumps 10% on subsidiary sale

Shares of engineering and property group United Engineers (UE) jumped 10 per cent on Friday after it said it was looking to dispose its indirectly-owned unit MultiFineline Electronix (MFlex) - a move that could see it reap over S$500 million in proceeds.

CapitaLand Retail China Trust

Investors are currently fearful of the slowdown in China's GDP (gross domestic product) growth. However, we believe CRCT should remain well positioned as it should benefit from China's move towards a consumption-based economy. Going forward, we understand CRCT remains confident of generating positive rental reversions in the single-digit range, although lower than the 15-20 per cent achieved over the past few years.

Apsil to acquire Century 21 (AsPac)

Fresh from completing its acquisition of property agency Global Alliance Property (GAP) Pte Ltd, Asia-Pacific Strategic Investments Ltd (Apsil) is shoring up its agent strength by acquiring another firm - this time, Century 21 (AsPac) Pte Ltd. This is the latest of a series of investments by the Catalist-listed Malaysian group for its new core business in real estate as it exits the loss-making bereavement care services business.

Global Economy & Global Real Estate

Housing market struggles amid weak interest

The idea that property development in Iskandar would satisfy spillover demand from Singapore was tested to its limit last year. Despite the weakened Malaysian ringgit, which provided a lower entry cost for investors, there was not a notable increase in sales to foreigners, say developers and analysts. Upfront price discounts of up to 20 per cent by some developers also failed to move units. Some property firms have had to re-strategise product offerings, while others deferred new launches.

Iskandar's challenges, 10 years on

As Iskandar enters its tenth year as a development region, some projects that were seen as catalysts for growth in the region appear to be taking a longer gestation period than expected, with many developers taking a wait and see approach. Companies hoping to take advantage of the region as a lower-cost location have faced problems in getting the manpower they need.

Danga Bay investor sees long-term potential

Yes, there may be oversupply concerns and uncertainty about cross-border government policies. But property in Iskandar can work as a long- term investment, says Mr Kelvin Fong, who has invested in a Danga Bay project.

Developer arrested after Taiwan earthquake

Owner of NY's Pierre hotel seeks to pare debt

Dubai developer to kick-start ailing Falcon City project

Retailers face an unhappy New Year as China tourists tighten their belts

Canadian love affair with Manhattan real estate seen unabated

What is the answer to the old 'rent or buy?'

Renters are buying again as US financing for homes becomes cheaper

Super Bowl home rental prices not meeting high hopes

Buy Into the Celebrity Enclave You’ve Never Heard Of

Primonial-Led Group Buys Gecina Health Assets for $1.51 Billion

Jamestown Buys 49 Percent Stakes in NYC Madison Avenue Towers