Singapore Economy

For S'pore economy, a heavy note of caution

The Singapore economy could grow as little as one per cent next year, according to official forecasts - marking one of the most pessimistic projections in at least 15 years, outside of periods of acute crisis. Announcing the government's 2016 GDP growth forecast for the first time on Wednesday, the Ministry of Trade and Industry (MTI) said that it expects the Singapore economy to expand by 1 to 3 per cent next year.

Singapore Real Estate

GIC 'underinvested' in real estate, eyes deals in key gateway cities

Singapore sovereign wealth fund GIC on Wednesday said that it is "underinvested" in property. Real estate currently makes up 7 per cent of its asset mix. It plans to raise this proportion to 9-13 per cent. It will do so by looking at big transactions in deep and liquid markets in key gateway cities. Emerging markets will also be important for its long-term strategy, notwithstanding short-term geopolitical risks.

Hotel merger 'good for corporate guests'

Marriott International surprised the hospitality industry with its proposed US$12.2 billion (S$17.3 billion) acquisition of Starwood Hotels & Resorts Worldwide last week - a deal that analysts say is significant and "transformative". The merger, which will create the world's largest hotel firm, is set for completion by mid-2016.

Companies' Brief

Existing Reit markets still have room to grow

While it is good that several developing countries have been building up their nascent real estate investment trust (Reit) regimes, some analysts and asset managers think that there is still a lot more room for existing Reit markets to build up their capacities. At the Asia Pacific Real Estate Association (APREA) summit on Wednesday, Christian Bernasconi, managing director of B&I Capital, an asset management firm, said: "I think that the core markets we have are not yet fully developed.

Sibor to hit more than 2% by end-2016: OCBC

Homeowners with home loans pegged to the Singapore Interbank Offered Rate (Sibor) could be paying much more this time next year. OCBC is forecasting that the three-month Sibor - to which many mortgage rates are pegged - could double and hit more than 2 per cent by the end of next year.

Views, Reviews & Forum

Customise housing assistance to help families in need

I am heartened by the new Proximity Housing Grant ("20% of resale flat buyers seek proximity grant"; Oct 31). It enables different generations of families to live close by, thereby enhancing family bonding and caregiving support in Singapore's increasingly ageing population.

A question of value for BHG Retail Reit's listing

The planned listing of BHG Retail real estate investment trust (Reit), raising a proposed $394.2 million in gross proceeds, would break a one-year S-Reit drought here. In a difficult year, Manulife US Reit shelved its listing in July owing to weak market conditions, while Kailong Reit is yet to be listed despite talk of it earlier this year.

Global Economy & Global Real Estate