Top Stories Urbanisation proceeding on unprecedented scale: PM People must be given high-quality environment to live, work, play, he adds Source: Business Times / Top Stories [SINGAPORE] The numbers are telling. In the last two years alone, more than 100 million people around the world have migrated to cities, and it is estimated that 70 per cent of the global population will live in cities by 2050. Cities have continued to grow in importance with each passing year, and urbanisation is proceeding on an "unprecedented scale", said Prime Minister Lee Hsien Loong at the combined opening ceremonies of three major global events last night. These were the Singapore International Water Week, World Cities Summit and the CleanEnviro Summit Singapore. "Cities are driving economic growth and creating new hubs for talent and innovation. Cities are also pioneering solutions for the world's problems, such as climate change, public health or green technology," he said during the ceremony held at the Marina Bay Sands Expo and Convention Centre. Mr Lee noted how, at the same time, new challenges have emerged. Climate change, for instance, has caused unpredictable extreme weather, with Cairo seeing its first snowfall after a century, while London has had to deal with flooding. "We must continue to improve our cities and give our people a high-quality environment to live, work and play," he told his audience that included city experts and government officials from all over the world. On its part, the Singapore government is doing its best to develop the country as both a liveable and sustainable city, such as by managing the consumption of energy and water and pricing these scarce resources properly so that people are incentivised to save and not waste them. The government, said Mr Lee, has taken a long-term view by planning over generations, implementing programmes over several election terms, and rallying Singaporeans to forgo some immediate gains for future dividends. He cited the example of the Marina Bay area, which was "once the mouth of a dirty river, dotted with pollutive industries and slums, (but is) now a jewel in our cityscape, a place all of us are very proud of". The prime minister noted that while the government's efforts so far have gained Singapore recognition in international rankings, the journey to improve the country is one that will never end. This is because the expectations of Singaporeans are rising, and other cities, too, are continuing to move ahead, developing innovative solutions and setting new standards. Singapore is learning from the lessons elsewhere in order to make the country a better home, be it by providing affordable housing and more reliable public transport, or adding more green spaces into the urban areas or strengthening social capital. The government is studying the experiences of other cities, such as London's public transport system and Copenhagen's downtown parks. In his speech, Mr Lee also hailed this year's two Lee Kuan Yew prize winners as good examples of what successful cities can achieve. The Chinese city of Suzhou, winner of the World City Prize, has built a good partnership with Singapore to develop the Suzhou Industrial Park, which has helped develop a thriving economy while protecting the city's cultural landmarks. And Orange County Water District from California in the United States, which bagged the Water Prize, has seen its pioneering groundwater recharge and water re-use schemes adapted throughout the world, including in Singapore when the country embarked on its NEWater programme. Both winners will receive their awards at a dinner graced by President Tony Tan Keng Yam later today. The last Singapore International Water Week in 2012 saw a record $13.6 billion in announcements worth of deals, tenders and investments. About 20,000 delegates are expected to attend this year, close to the number that attended two years ago. -By Lee U-Wen S'pore continues to develop innovative solutions to make it liveable & sustainable: PM LeeSource: Channel News Asia / Singapore SINGAPORE: Singapore is developing itself as a liveable and
sustainable city, and at the same time learning from other cities to improve
the lives of its people, said Prime Minister Lee Hsien Loong at the opening of
the World Cities Summit on Sunday. Speaking to ministers and mayors from around the world, Mr Lee said urbanisation is moving at an unprecedented pace. Mr Lee noted that since the last World Cities Summit two years ago, more than 100 million people have moved to cities. He said Singapore has taken the long-term view of developing itself as a liveable and sustainable city. "(We are) planning over generations, implementing programmes over several election terms, and rallying Singaporeans to forgo some immediate gains for future dividends," Prime Minister Lee said. Mr Lee said Singapore's efforts have been recognised
internationally, but improving the country is a journey without an end. To meet these expectations, Singapore is developing better homes by making housing more affordable, and having reliable public transport. It is also integrating green spaces and blue waters in its urban surroundings. Mr Lee noted that other cities are also continuing to move ahead, developing innovative solutions and setting new standards. He said Singapore is studying these cities carefully. He cited examples of how the Republic is learning from London's public transport system, Copenhagen's integration of "pocket parks" downtown, and Bilbao's management of its arts and cultural spaces. In addition, Singapore is harnessing technology to become a "smarter nation". The island is being wired up to ensure ubiquitous connectivity and to enhance the business environment. Singapore is also using data better to improve sustainability and piloting green technologies. Mr Lee said the country is learning from other cities' experiences too. The prime minister cited Rio de Janeiro, which is working with computer giant IBM to be a "smart city". In Manhattan, the city has a central hotline and a dashboard for municipal services. Mr Lee added that technology can facilitate strengthening ownership by engaging citizens and residents. This can be done through crowd-sourcing and location-based services. Mr Lee said this year's Lee Kuan Yew prize winners are good examples of successful cities in action. The World City Prize goes to Suzhou which developed a thriving economy while protecting its cultural landmarks, while this year's Water Prize goes to the US Orange County Water District. Its water reuse schemes are adapted in Singapore when it embarked on the NEWater programme. - CNA/al
http://www.channelnewsasia.com/news/singapore/s-pore-continues-to/1131890.html How big data can improve life in 'smart cities' Yi Shyan tells mayors S'pore experience at World Cities Summit Source: Top Stories [SINGAPORE] Singapore will leverage big data to enhance the quality of life of its people as part of its efforts in urban transformation, says Senior Minister of State for National Development Lee Yi Shyan. The information revolution and big data can be used in many areas such as transport, healthcare, education and hospitality in developing "intelligent or smart cities", said Mr Lee in his opening remarks at the World Cities Summit Mayors Forum (WCSMF) 2014 here yesterday. One example is Singapore's homegrown Grab- Taxi, a taxi booking app that aims to revolutionise the industry by channelling passengers to taxi drivers.
"Commuters can benefit as they are able to book taxis from not just one but all companies, and enjoy a higher probability of booking," said Mr Lee, who is also the forum's chairman. -By Anita Gabriel Govt will learn from other cities to build better, smarter S’poreMaking housing affordable and strengthening social capital among ways to make country more liveable: PM Lee Source: Today Online / Singapore SINGAPORE — As Singaporeans’ expectations of the liveability and sustainability of their city rise, the Government will continue learning from other cities to make the Republic a better home and smarter nation where citizens feel a strong sense of ownership, said Prime Minister Lee Hsien Loong. Improving Singapore was “a journey without the end”, said Mr Lee, who was speaking at the opening ceremony of the World Cities Summit, Singapore International Water Week and CleanEnviro Summit Singapore last night. A better home can be created by making housing more affordable and public transport more reliable, integrating green spaces and waters into urban surroundings, strengthening social capital by integrating new immigrants with Singaporeans, creating more arts and cultural spaces as well as building a compassionate society, Mr Lee said. “And to do this, we are studying other cities carefully — for example, London and its way of public transport, Copenhagen, which integrates pocket parks into its downtown, or Bilboa, which has had great success building its arts and cultural spaces,” he said. Last month, the Government announced it was embarking on a bus contracting model that will see operators bidding for a package of routes through competitive tendering, akin to systems in London and Perth. Thus far, Singapore has taken the long view in its development by “planning over generations, implementing programmes over several election terms and rallying Singaporeans to forgo some immediate gains for future dividends”, said Mr Lee, citing Marina Bay as a prime example. Once the mouth of a dirty river occupied by industries that caused pollution and slums, it is now “a jewel in our cityscape, a place all of us are very proud of”. Yet, as cities drive economies and innovation, new challenges have emerged. “Climate change is causing unpredictable consequences (and) extreme weather, like the first snowfall in Cairo in a hundred years or flooding in London,” he said. “And so, we must continue to improve our cities and give our people a high-quality environment in which to live, work and play.” Mr Lee said Singapore was also wiring up the island to deliver connectivity and enhance the business environment for a smarter nation. “There’s no place where you can hide from your emails and Facebook,” he said, adding that the country was also making better use of data to improve sustainability, such as in managing the nation’s power consumption more tightly. Singapore is also strengthening citizens’ and residents’ ownership of their shared future through the use of technology, such as crowdsourcing and location-based services.
“There are many examples of how Singaporeans are working together to build a more liveable and sustainable Singapore. For example, preserving nature in Pulau Ubin — one of our bigger offshore islands — through the Ubin Project,” said Mr Lee. -By Kok Xing Hui
http://www.todayonline.com/singapore/govt-will-learn-other-cities-build-better-smarter-spore Singapore Real Estate Overseas developers making stronger pitch They are prompted by the continued interest here in overseas projects Source: Business Times / Top Stories [SINGAPORE] More overseas developers are opening property galleries or sales offices in Singapore to step up their marketing here, prompted by a continued interest in overseas projects. While most have traditionally relied on their marketing agents to hold property exhibitions here on weekends, there is a growing trend of foreign players wanting to have a permanent presence here. In the course of a week, two overseas developers have joined the fray. Australia's Crown Group opened its sales office at Suntec Tower Two, while Malaysia's UMLand opened its property gallery in Anson House at Tanjong Pagar. BT understands that London developer Galliard Homes is about to open a sales office in Singapore soon. Together, they join several other industry peers from the United Kingdom, the Philippines, Malaysia and China who have opened shop in Singapore, including notable names such as UK's Berkeley Homes and China's Country Garden. The latter opened a sales gallery here to showcase its Danga Bay project in Malaysia. "Booming Asia is an important platform for us and we want to be ahead of that trend," said Crown Group's Indonesian-born CEO Iwan Sunito. Overseas buyers make up 30 per cent of Crown Group's clientele, with Chinese and Indonesians forming the majority of this pool. Sydney-based Crown Group, which achieved some A$20 million (S$23.3 million) of sales from buyers in Singapore last year out of A$300 million of group sales, hopes to reduce its reliance on agents here and derive more sales from direct marketing. Its director of sales and marketing Adam Sparkes said that the Singapore office marks the start of a longer term plan of developing residential projects globally. Its first overseas office in Jakarta was opened last year. The fast-growing Crown Group is also looking to set up an office in either Shanghai or Hong Kong within a year and to list the company within five years - possibly in Hong Kong. UMLand's opening of its sales gallery is timed with the launch of its premium mixed-development Star Residences in Kuala Lumpur. "The presence of the property gallery will further enhance purchasers' confidence of UMLand," said group CEO Charlie Chia. "If the opportunity arises, UMLand will certainly be interested to venture into property development in Singapore." UMLand has been marketing projects in Singapore since 2003 when its tie-up with Singapore's The Ascott Limited in Somerset Seri Bukit Ceylon in Kuala Lumpur, a strata-titled serviced residence project, drew significant interest from Singapore-based buyers. Its sales gallery will now serve as a one-stop shop for potential investors and buyers to explore other projects in Iskandar Malaysia and Klang Valley. HSR International Realtors analyst Wong Shanting noted that Singapore's property cooling measures, including a loans cap under the total debt servicing ratio (TDSR), and relatively high property prices have prompted Singaporeans to look elsewhere. The high-speed rail between Singapore and Kuala Lumpur, which is targeted to be ready by 2020, will enhance Malaysia's draw, she said. Mr Chia pointed out that new growth areas such as Iskandar Malaysia are only 30 per cent of Singapore's property prices. "With this push factor of TDSR, Singaporeans ultimately throng to Malaysia to enjoy better terms and ease of end-financing with Malaysian banks for their investments," he said. Doris Tan, head of international residential properties at Jones Lang LaSalle (JLL), said that sales of London properties to Singapore buyers have slowed recently as many have already bought their units in the past few years. And with rising prices in London and a capital gains tax on non-residents that will kick in next year, investors are adopting a wait and see attitude, she said. Colliers International told BT that many of its clients still prefer to continue holding property exhibitions on overseas projects here due to the cost factor. "It's very expensive for overseas developers to set up and fit out a permanent office in Singapore. This is why most of our clients rely on Colliers as their agent to sell their schemes, without them having the added expense of a local office," said Nina Davies, Colliers' operations director for international properties in South-east Asia. However, there are still advantages of having sales representatives closer to potential buyers. Malaysia's SP Setia Berhad has seen double-digit growth in annual sales to Singapore-based buyers since it opened a sales office here in 2009. Having a presence here allows the developer to provide better after-sales follow-up, said Neo Keng Hoe, SP Setia general manager for Singapore. This move was also part of the group's international expansion into Vietnam, Australia, China, the UK and Singapore. SP Setia is behind the Singapore condos - 18 Woodsville and Eco Sanctuary - launched in 2012. "We also market our investment grade developments in Kuala Lumpur, Penang, Iskandar, Melbourne and London and we do see growing interest for the Iskandar region," Mr Neo said.
"The TDSR encourages overseas property purchasers to secure offshore financing and developers with good proven records will continue to do well here," he added. -By Lynette Khoo New eco-garden in Jurong West Source: Channel News Asia / Singapore SINGAPORE: Residents in Jurong West have a new eco-garden. It is part of JTC Corporation's business park -- CleanTech Park -- in Boon Lay. The five-hectare garden was opened on Sunday by the area's Member of Parliament and Health Minister Gan Kim Yong. It features walking trails, a butterfly garden and a freshwater swamp. Leow Thiam Seng, director of JTC Corporation's aerospace, marine & CleanTech cluster, said: "When we first planned for this place, we discovered that there's a rich biodiversity here, and with the two dragon kilns, the whole idea became very intuitive. "So we decided to position it as an eco-park for the whole CleanTech Park. We hope that the residents can use this opportunity to be more exposed and be nearer to biodiversity." It is part of the freshwater swamp and has been enhanced so that it can capture 65 per cent of the rainwater runoff here. That water is then filtered and recycled for other uses in the park -- for example, for general outdoor washing, to flush the toilets and to irrigate the plants. Mr Gan Kim Yong, Health Minister and MP for Chua Chu Kang GRC, said: "This Jurong Eco-Garden is part of the progressive enhancement of the CleanTech Park housing companies and research institutes in the clean technology industry. "But it is more than just another piece of industrial real estate as it gives the community more green space on which we can explore, discover and reconnect with nature. "Beyond just being passive green spaces, the Jurong Eco-Garden can become a focal point for community interaction. "It will cater to a myriad of recreational activities -- you can come here to do some bird-watching, conduct your physical exercises, or simply just take leisurely strolls and enjoy the lush greenery here. Schools can also enjoy this eco-garden as another destination for field trips." Mike Goh, a 46-year-old engineer who works at the business park, appreciates having the eco-garden so near to his workplace. Mr Goh said: "I'm glad that this park is very near the office so... I can actually take a break in the park and enjoy the greenery." - CNA/al Eco-garden brings nature closer to residents, workers in JurongSwamp captures rainwater that is recycled for use in the 5ha space in business park Source: Today Online / Singapore SINGAPORE — Walking trails, a butterfly garden and a freshwater swamp are among the amenities Jurong West residents and workers at JTC Corporation’s CleanTech Park in Boon Lay can now enjoy, with the launch of a 5ha eco-garden — the size of five football fields — within the business park. Opened yesterday by Health Minister Gan Kim Yong, who is also Member of Parliament for Chua Chu Kang GRC, Jurong Eco-Garden features a Summit Lookout at the highest point of the park, as well as streams and ponds around it. Said Mr Leow Thiam Seng, JTC’s director for the Aerospace, Marine and CleanTech Cluster at the park yesterday: “When we first planned for this place, we discovered that there’s a rich biodiversity here and, with the two dragon kilns, the whole idea became very intuitive. So we decided to position it as an eco-park for the whole CleanTech Park. We hope that the residents can use this opportunity to be more exposed and nearer to biodiversity.” The freshwater swamp has been enhanced so it can capture 65 per cent of the rainwater run-off in the area. The water is then filtered and recycled to be used in the park, such as for general outdoor washing, flushing the toilets and irrigating the plants. The park also features materials from JTC’s other projects, such as excavated rocks from the Jurong Rock Caverns, which can be seen in the swales, gabion walls and the Summit Lookout. Two sculptures were also commissioned for the park — a ceramic piece using a mix of clay taken from the site and a carved stone piece using excavated rocks from the Jurong Rock Caverns. Mr Gan said the eco-garden gives the community more green space to explore, discover and reconnect with nature. “Beyond just being passive green spaces, the Jurong Eco-Garden can become a focal point for community interaction. It will cater to a myriad of recreational activities. You can come here to do some bird-watching, conduct your physical exercises or simply just take leisurely strolls and enjoy the lush greenery here. Schools can also enjoy this eco-garden as another destination for field trips,” he said. Mr Mike Goh, a 46-year-old engineer who works at the business park, appreciates having the eco-garden so near his workplace. “I’m glad that this park is very near the office so ... I can actually take a break in the park and enjoy the greenery.” -By Sharon See http://www.channelnewsasia.com/news/singapore/new-eco-garden-in-jurong/1132106.html
http://www.todayonline.com/singapore/eco-garden-brings-nature-closer-residents-workers-jurong Some tough decisions await HDB upgraders Source: Straits Times For a health check of the private residential market, an investor needed only to check out the sales at an upmarket condo project in Ang Mo Kio when it was relaunched recently. The developer attracted scores of buyers in a flat market - but only after slashing prices by 12 per cent.
Rising costs for the furniture sector here: sofa, so good Local firms have made plans to deal with higher rental, manpower expenses Source: Business Times / Top Stories [SINGAPORE] Faced with rising rents and a shortage of manpower, furniture firms here are taking measures to overcome their problems. "The two main killers are rental and manpower," said Xu Xue Ting, group retail manager of furniture manufacturer and retailer Star Furniture. Rental cost is a major bugbear for the firm, which operates out of large retail spaces, some spanning 20,000 to 30,000 square feet. This is especially so in the case of its stores located in shopping malls, where rents can rise up to 10 per cent each time leases come up for renewal.
"We would prefer larger showrooms, but the costs of these spaces make it challenging," said Sean O'Hara, general manager of furniture and interior design firm Serrano Holdings. -By Kara Quek Real Estate Companies' Brief REITs should not maximise profits at expense of SMEs Source: Today Online The prominent shopping centres owned by Real Estate Investment Trusts (REITs) may deserve higher rents, but with the proliferation of REITs over the past decade, their retail rents crept up first to test what the market would bear.
http://www.todayonline.com/singapore/govt-will-learn-other-cities-build-better-smarter-spore Global Economy & Global Real Estate US Fed officials against using rates to fight bubbles This is despite them disagreeing over a suitable monetary policy stance Source: Business Times / World [PALO ALTO, California] A trio of Federal Reserve officials who disagree deeply with one another over the appropriate stance of monetary policy have expressed a shared distrust for using interest rates to head off asset bubbles and other forms of financial instability. Both Richmond Fed president Jeffrey Lacker, a policy hawk, and San Francisco Fed President John Williams, a centrist, told reporters after a policy conference here that they would not want to risk unmooring the public's expectation that inflation will rise back to the Fed's 2 per cent goal in the next few years. That, Mr Williams said, is what appears to have happened in Sweden and Norway after those countries raised rates to address financial stability risks. Fed economist Andrew Levin had shown a slide making that point earlier at a presentation that both policymakers attended.
Chicago Fed president Charles Evans, one of the Fed's most ardent doves, echoed those sentiments. "Degrading monetary policy tools to mitigate financial instability risks would lead to inflation below target and additional resource slack," Mr Evans said in slides released on Friday for a talk he is set to give in Istanbul today. -From Palo Alto, California |