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Daily Debrief: What Happened Today

The overhang is evident at The Florence Residences in suburban Hougang where just 38 per cent of the 1,410 units at the development have been sold since being launched in March.

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Singapore has a property glut that could take years to clear  

SINGAPORE has an overhang of 31,948 units as of Sept 30 and sales have averaged about 2,500 homes per quarter this year which will take almost four years to clear the backlog.

Market voices on:


Centurion to acquire its 2nd student dorm in Nottingham for £15.1m

THE asset, dwell Archer House - located at 14-22 Castle Gate, is in the city centre and near the University of Nottingham and Nottingham Trent University. 

Koon Holdings, Penta-Ocean Construction end joint venture

FOLLOWING the move, Koon Holdings and KCT will no longer need to provide corporate guarantees in respect of the JV – significantly reducing their contingent liabilities and obligations.

Over 100 overseas digital service providers register for GST ahead of Jan 1 deadline: Iras

THE Overseas Vendor Registration (OVR) regime levels the playing field in GST treatment for both local and overseas services, Iras said.

Construction of Jurong West, Bahar Junction stations on Jurong Region Line to start in 2020

THE contract, valued at around S$210 million, was awarded to China Railway 11 Bureau Group, the LTA said.

The STI today

Singapore shares buck regional trend on Monday, STI down 0.5%

THE Straits Times Index struggled for direction, spending most of the session hovering around last Friday’s close before slipping late to close at 3,179.82, a decline of 14.89 points, or 0.5 per cent.