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20th November 2015

Singapore Economy

'Smart nation' vision about people and mindsets: Vivian

Singapore's "smart nation" vision must be about "people and mindsets" and technological solutions need to be citizen-centric to enhance the quality of life of Singaporeans, Foreign Minister Vivian Balakrishnan has said. At the Smart City Expo World Congress in Barcelona on Tuesday, Dr Balakrishnan shared with leaders around the world Singapore's plans to harness developments in infocommunications technology to build a smart nation.

Businesses here see prospects at lowest since financial crisis

Business performance in Singapore for the three months ended September has worsened to levels not seen since the 2008 global financial crisis, as conditions, especially those overseas, take a turn for the worse. This prompted companies to project that the economy would expand 0.5 per cent at best or contract 1.4 per cent at worst in the last three months of the year.

Singapore Real Estate

Jurong Country Club to submit land compensation claims next week

Jurong Country Club (JCC), identified as the site of the future terminus for the Singapore-Kuala Lumpur high-speed rail, will file its compensation claim on Wednesday, Nov 25. It will submit its own valuation of the 67-hectare site to the Collector of Land Revenue, who will also consider the valuation submitted by the Singapore Land Authority (SLA), JCC said on Thursday.

Poiz Residences in Potong Pasir may be launched at S$1,380 psf

MCC land will be releasing close to half of the 731 units in its new private condominium project The Poiz Residences during its sales launch on Nov 28. Sources told BT that the group has fixed the pricing for the initial units at an average S$1,380 per square foot (psf). The project on Meyappa Chettiar Road forms part of a mixed-use development that includes retail component The Poiz Centre, which will be connected to the adjacent Potong Pasir MRT station. Its showflat opens for public preview on Friday.

OUE not pursuing conversion of Twin Peaks condo

Property and hotel group OUE is no longer looking at converting part of Twin Peaks into serviced residences, but is keeping one of two towers at the project aside for bulk sale deals. The firm is in talks with some parties interested in certain floors or certain types of units, The Straits Times understands.

Companies' Brief


We visited six CapitaLand projects in Shanghai, Hangzhou and Suzhou recently, which demonstrate the company's ability to develop projects across a range of sub-asset classes. China accounts for 46 per cent of total assets for CapitaLand and is a key market for the group. The company will stay within its area of competency and continue to focus on projects in Tier 1 and upper Tier 2 cities.

Frasers Hospitality opens second serviced residence in Tianjin

Frasers Hospitality, the hospitality arm of Frasers Centrepoint Limited (FCL), has beefed up its presence in China with the opening of its second serviced residence in Tianjin. The 192-unit Fraser Place Tianjin is located in the city's prime entertainment district, adjacent to the Olympic Stadium Centre and close to the historical Nankai district.

28 building projects bag awards from FIABCI-Singapore

The Singapore chapter of FIABCI, the Paris-based International Real Estate Federation, gave out awards to 28 projects at the Singapore Property Awards 2015 on Thursday. The projects are in 10 categories: heritage, industrial, office, residential (super high-rise), residential (high-rise), residential (mid-rise), residential (low-rise), retail, specialised project and sustainable development.

Views, Reviews & Forum

Soft landing not quite good enough for buyers

The multiple rounds of cooling measures and loan curbs implemented since 2009, particularly the Total Debt Servicing Ratio in June 2013, have resulted in a soft landing in private residential property prices. Data from the Urban Redevelopment Authority showed private residential property prices dipped by an average of 1.3 per cent in the third quarter from the previous three months, widening from the 0.9 per cent fall in the second quarter.

Global Economy & Global Real Estate

Singapore to help develop 2 townships in Rajasthan

Singapore is sharing its expertise in urban planning to help develop two new townships in the desert state of Rajasthan, said Home Affairs Minister K. Shanmugam. A memorandum of understanding for the fresh collaboration between Singapore and the Indian state was signed yesterday.

M&L Hospitality acquires new hotel site in Sydney

Singapore-Based real estate investment group M&L Hospitality has acquired a hotel development site in Sydney, which will see it deepening its presence Down Under as well as boost its portfolio to 16 hotels worldwide. "The addition of 65 Sussex Street will increase M&L Hospitality's overall portfolio in Sydney to more than 1,000 hotel rooms and 16 hotels globally once completed," the firm said on Thursday.

Fed says US economy strong enough for rate increase

Dubai's Shaibani Says Property Slump Helps Competitive Position

Housing Starts in U.S. Fall on Decline in Apartment Construction

Lowe's Profit Tops Estimates, Showing Homeowners Still Spending

U.S. Stocks Rally as Fed Minutes Stress Gradual Rate Increases

China Home-Price Recovery Slows in October Amid Supply Glut

Tokyo Apartments Put Up for Sale Decline After Building Flaws

Polish Households Are Worth More Than Germany's, Survey Reveals