Singapore Economy

Tharman unveils 3 initiatives to draw institutions to infrastructure

Singapore's Deputy Prime Minister Tharman Shanmugaratnam on Tuesday launched three initiatives to make infrastructure investment a more regular feature in the asset allocation of institutional investors. This is on top of what most regional governments are already doing, which is ensuring bankable projects and stretching public dollars to fund what they can, he said in his keynote opening address at the sixth World Bank-Singapore Infrastructure Finance Summit.

Singapore Real Estate

Spike in HDB lease buyback applications

Applications for the Lease Buyback Scheme have surged after changes that make more households eligible and offer more flexibility kicked in this April. Introduced in 2009 but updated several times since, the scheme lets elderly flat owners sell part of their lease back to the Housing Board for retirement income.

Companies' Brief

Mapletree Ind Trust posts 7.3% rise in Q2 DPU

Mapletree Industrial Trust (MIT) posted a 7.3 per cent increase in distribution per unit to 2.79 Singapore cents in the second quarter ended September from 2.60 Singapore cents a year ago. Gross revenue rose 6.2 per cent to S$83 million, led by contribution from the build-to-suit (BTS) project for Equinix Singapore and higher occupancies and rental rates achieved in the portfolio.

CNQC International completes RTO deal

CNQC (South Pacific), mainly known for its development and construction businesses in Singapore, has undergone a backdoor listing on the Hong Kong mainboard through a reverse takeover (RTO). The RTO deal involved Hong Kong-listed building contractor CNQC International (formerly Sunley Holdings) acquiring the target group of companies from Guotsing Holding (South Pacific) Investment Pte Ltd or in short, Guotsing SG, on Oct 15.

Global Economy & Global Real Estate

Indonesian eco-resort to be accessible only from Singapore

What is billed as the world's largest eco-park resort being built in Indonesian waters will be only accessible via ferry service from Singapore, developers of Funtasy Island said on Tuesday (Oct 20). The 328-hectare development featuring dolphin lagoon villas, a theme park and beach club, is located 16km away from Singapore. There will be a 25-minute ferry service shuttling to HarbourFront, Funtasy Island Development (FID) said in a news conference.

Housing starts rise as construction bolsters US economy

Treasuries Decline as New-Home Construction Climbs in September

Blackstone buys NY's Stuyvesant Town complex

Blackstone Builds on Apartment Foray With Manhattan Invasion

Philippine billionaire Villar may merge his residential, mall units

New database tracks large land deals

Sydney housing market cools as auction rate falls