Singapore Economy

3D screens, immersive tech at Future Of Us exhibition

At The Future Of Us exhibition opening next month at Gardens by the Bay, visitors can read a 2030 newspaper and peer into imagined scenes of daily life in the future. Singapore's future as a smart city, for instance, will be fleshed out by showing how one activity can generate power for another.

China-Singapore pacts will boost ties but pose challenges too

The slew of agreements and strategic moves made between Singapore and China during Chinese President Xi Jinping's visit will improve the bilateral relationship, create opportunities for both sides and provide a boost to regional initiatives, analysts said. But there are also challenges, such as the potential impact on Singapore's regional policy after a mutual pledge with China to deepen cooperation on regional issues, they added.

S'pore, China to be 'all-round partners'

Singapore and China have entered into a formal partnership aimed at strengthening coordination on regional and global issues, and producing more cooperation initiatives, such as a third government- led project that will be based in south-western Chongqing city. President Tony Tan Keng Yam and Chinese President Xi Jinping unveiled the partnership in their respective remarks as they led a toast at an Istana state banquet last night.

Chongqing picked for 3rd govt-to-govt project

Chongqing in south-western China, with a population of 33 million people, is one of the largest cities in the world. Yesterday, Chongqing Municipality was announced as the site of the third government-to-government project between Singapore and China, beating two other sites - Chengdu, capital of south-western Sichuan province, and Xi'an, capital of north-western Shaanxi province.

Singapore Real Estate

Performance of Jurong malls not yet stable: Study

The performance of four malls in the Jurong East Regional Centre has yet to stabilise, but a study making comparisons with three malls in the more mature Tampines Regional Centre has thrown up some positive indicators. The joint study, by Knight Frank, StarHub's analytics arm SmartHub and big data firm Teralytics, found that malls in Jurong East had more visitors overall, although the spread of visitors was thinner given the far larger floor area.

Public's view in masterplanning of limited use, say specialists

How much participation and say should local communities have in their cities' master plans? Asked this question, urban planning specialists say, surprisingly: "Not much." Still, Liu Thai-Ker, former chief at the Housing & Development Board and the Urban Redevelopment Authority, and, many say, the architect of modern Singapore, said: "Definitely as a principle, we should listen to people.

First retirement village’ opens next month

Nestled in the prime district of Bukit Timah, near the Newton fly- over, is a single-storey cream and brown bungalow that will soon open its doors as Singapore's first eldercare facility of its kind. St Bernadette Lifestyle Village will begin operating next month, helping seniors to live independently while looking out for their well-being. The assisted living facility will take in just eight residents, who will pay $3,500 a month. That includes breakfast, housekeeping and laundry services.

MRT boon for 3 sleepy parts of Singapore

The areas around three new MRT stations announced last week may be sleepy now, but expect this to change down the track. Redevelopment potential is ripe near the sites of Keppel, Cantonment and Prince Edward stations, experts say. The trio will be part of the sixth stage of the Circle Line, to be completed in 2025.

Companies' Brief

Frasers Centrepoint's net profit jumps 54%

Frasers Centrepoint Ltd (FCL) has posted a 54 per cent increase in net profit to S$771.27 million for the full year ended Sept 30, 2015. This was on the back of a 28 per cent increase in fair-value change to S$220 million and an exceptional gain of S$7.8 million in the latest financial year, compared to an exceptional loss of S$140 million in the previous year.

Perennial posts quarterly net profit of S$4.78m

Perennial Real Estate Holdings posted a net profit of S$4.78 million for the quarter ended Sept 30 from income-producing assets in Singapore and operational assets held by Perennial China Retail Trust, which was consolidated with effect from November 2014.

Fragrance's Q3 profit up 14.3%, revenue falls

Fragrance Group's net profit for the third quarter ended Sept 30, 2015, rose 14.3 per cent to S$27.8 million even as its revenue dropped 52.0 per cent, from S$133.3 million to S$64.0 million. The drop in revenue was largely due to a fall in property development revenue. The sector contributed S$59.3 million (92.6 per cent) to the consolidated turnover, which was a drop of 53.9 per cent compared with the same quarter in 2014. The main revenue contributor from this sector was the progressive recognition of income from development projects, namely Kensington Square, Urban Vista, and Icon@Pasir Panjang.

Interlace wins top prize at World Architecture Festival

The Interlace condominium in Depot Road, by OMA and Ole Scheeren, has won Building of the Year at this year's World Architecture Festival. Iconic for having 31 apartment blocks stacked in a hexagon shape, it beat 338 projects in 31 categories for the top prize at the awards, considered the Oscars of the architectural world.

Views, Reviews & Forum

Go beyond rewards in push for green buildings

The Building and Construction Authority (BCA) wrote that Singapore's building regulations require developers and key stakeholders to meet the minimum standards for thermal performance and effective natural ventilation performance, and that the BCA's Green Mark scheme encourages building projects to minimise energy use ("Efforts towards green building movement"; last Thursday).

Global Economy & Global Real Estate

US interest rate decision in October a close call, says Fed's SF head

The US economy has reached at least one measure of full employment and the decision to keep interest rates near zero in October was a close one, said John Williams, president of the Federal Reserve Bank of San Francisco.

Asia's challenges in managing its cities

The architect of modern Singapore has a number of bugbears about urban planning and he wants them off his chest. For starters, Liu Thai-Ker believes that politicians in the rapidly urbanising Asia of today aren't giving city planning the scientific precision it deserves.

Real Capital to set up Asia office next year amid investor interest

More Asian investors are looking to wrest management control of their global real estate portfolios from foreign managers who have historically done the job for them, and require data support. At the same time, international investors seem to be turning their attention back to Asia, as real estate prices in Asia level with those in Europe and the US.

HK home prices rise for 6th straight month to record high in Sept

Germany landlord urges rival's investors to stop takeover

Billionaire hedge fund managers continue to snap up pricey property despite losses

McCarthy & Stone valued at £967m in London listing

Shady deed transfers on the rise in New York

After Funtasy Island, it's South Oceans now

Norway SWF mulls over US$86b injection into properties