Singapore Economy

ADB trims SingaporeĄŻs growth forecasts for 2015, 2016

The Asian Development Bank (ADB) has trimmed its 2015 and 2016 growth forecasts for the Republic while it maintained its outlook for most of the region, saying that the local manufacturing sector is dragging down economic growth here.

Singapore Real Estate

HDB resale flat prices in November up 0.4%

Prices of Housing & Development Board resale flats in November have risen 0.4 per cent from the preceding month, buoyed by four and five-room units. Compared with a year ago, HDB resale prices have fallen 1.9 per cent; they are down 11.3 per cent from the peak in April 2013, going by estimates from SRX Property.

Few surprises expected for H1 state land sales

Property consultants are generally not expecting any major surprises for the upcoming Government Land Sales (GLS) Programme for private housing and commercial land for the first half of 2016, and this applies to both the confirmed and reserve lists.

Ang Mo Kio to be model walking, cycling town

Work to transform Ang Mo Kio into a model walking and cycling town has begun. In a joint statement yesterday, the Land Transport Authority (LTA) and Urban Redevelopment Authority (URA) said the first phase of the project, which includes a 4km cycling path looping around Ang Mo Kio Avenues 1, 3 and 8, is expected to be completed by next June. By then, cyclists and pedestrians will be able to travel seamlessly from the swimming complex along Avenue 1 to the Ang Mo Kio MRT station.

S'pore reaffirms commitment to green building & construction sector

The Building and Construction Authority (BCA) is representing Singapore in the newly launched Global Alliance for Buildings and Construction. The alliance involves the participation of governments, major building and construction stakeholders and potential funders, to help the building and construction sector achieve the common objective of limiting global warming to below 2 degrees Celsius. It was launched at the inaugural Buildings Day at the ongoing United Nations Climate Change Conference (COP21) in Paris.

AsiaMalls to roll out new initiatives

As one of the smaller retail developers in Singapore, AsiaMalls faces a challenge in keeping up with market leaders such as CapitaLand and Fraser. AsiaMalls manages six malls locally, including Tiong Bahru Plaza, White Sands and Liang Court. To grow traffic at its malls, the retail developer plans to roll out a slew of initiatives. These include introducing a loyalty programme, leveraging mobile technology and social media, as well as new digital services such as E-concierge and E-reservations.

Pre-war sites off Shenton Way under scrutiny

13 Stop-Work Orders issued so far in enforcement operation: MOM

Companies' Brief

China-based BHG Retail REIT launches Singapore IPO

BHG Retail Trust Management has launched an initial public offering (IPO) of units in BHG Retail REIT (real estate investment trust) at an offering price of S$0.80 per unit, announced the China-based group in a press release on Wednesday (Dec 2). This will make it the first listing on the mainboard of the Singapore Exchange (SGX) this year. The final prospectus of the IPO was filed with the Monetary Authority of Singapore on Wednesday.

Global Economy & Global Real Estate

Interest rates here 'to rise at moderate pace'

Interest rates here will rise only at a moderate pace in the coming months, partly reflecting the dovish stance the United States Federal Reserve will take, Standard Chartered economists said. Rates in the US will almost certainly rise this month, but probably by only 25 basis points, said chief economist of Asia David Mann, followed by another of the same size in March.

Home-building slump to weigh heavily on ChinaĄŻs GDP: StanChart

The slump in house building in China has driven half of the slowdown in the countryĄŻs economic growth since 2010 and is poised to weigh even more heavily next year, according to analysts at Standard Chartered bank. The housing market is in even worse shape in Hong Kong, where residential property prices will fall by 10 to 20 per cent in the next two to three years, the emerging markets-focused bank forecasts, and Singapore, where prices are already falling and are likely to decline by a further 5 to 10 per cent.

Evergrande extends buying spree with 13.5b yuan China deals

Canada mulls higher down payments to cool property market

Middle East investors drawn by US property as returns lag at home

S Korea govt unit warns of home supply glut in 3 years

Li Ka-Shing's CKI in running for London City Airport sale: sources

AIG Said to Dismiss Real Estate Group's Chief, Other Executives

How Healthy Is the NYC Luxury Apartment Market?

American Homes 4 Rent to Acquire American Residential