Outlook 2024

The changing face of Orchard Road

It has been an exciting few years for Orchard Road, with new attractions and hotels opening, as well as malls undergoing major renovation and en bloc sales. The Business Times looks at some of the rec...

Interest in Orchard Road malls has risen, with Far East Shopping Centre changing hands at S$908 million.

Property

OUTLOOK 2024

Retail rents rebound on spending recovery, expected to rise further in 2024

SINGAPORE retail landlords saw rents rebound in 2023 from their pandemic lows, as tourists returned and domestic spending recovered.

Manulife US Reit's Centerpointe property. The three US office Reits listed in Singapore – Manulife US Reit, Prime US Reit and Keppel Pacific Oak US Reit – suffered steep declines through most of 2023, but rallied in November and December.

Reits & Property

OUTLOOK 2024

Headwinds expected to persist for US office S-Reits despite sharp year-end rally

DESPITE expectations of a rebound from deeply discounted valuations, market watchers were surprised by the sharp rally in Singapore-listed US office real estate investment trusts (Reits) in the final ...

Industry leaders noted four areas of concern: rents; labour costs; utilities and fuel charges; and pass-through costs from suppliers.

SGSME

OUTLOOK 2024

Singapore SMEs brace for another year of rising costs

EVEN as Singapore’s inflation cools this year, small and medium-sized enterprises (SMEs) are expected to face continued – or even intensifying – cost pressures.

The healthcare space is especially of interest, given the region’s rapid population growth and rising demand for chronic care services.

Startups

OUTLOOK 2024

South-east Asia’s private equity investors eye healthcare, energy, digital infrastructure

PRIVATE equity (PE) investors are sitting on too much dry powder, and 2024 might be the year they find enough confidence to deploy a big scoop of it.

The current state of doom and gloom among Davos elites, which seems even worse than during the financial crisis of 2008, has emerged amid a global economy that is not so disastrous.

Opinion & Features

PERSPECTIVE

Reasons to be optimistic in 2024 – despite everything

Science is delivering breakthroughs in key areas, trade is holding up and tyrants won’t last forever

HDB resale transaction volume is expected to hit 26,500 in 2023, says Huttons Asia.

Residential

Stable outlook for HDB resale market with 3-5% price growth forecast for 2024

HOUSING and Development Board (HDB) resale prices are expected to stay on an even keel in the coming year, with 3 to 5 per cent growth forecast for 2024.

The problems that China is facing include the lack of effective demand, the excess capacity in some industries and weak social expectations.

Opinion & Features

THE BOTTOM LINE

Outlook 2024: China unusually candid about economic challenges

Xi acknowledges difficulties in road to recovery

The Asian Development Bank projects South-east Asia’s gross domestic product to expand by 4.7 per cent this year, up from 4.3 per cent in 2023.

Asean Business

OUTLOOK 2024

South-east Asia poised for better growth in 2024, with Indonesia leading the charge

Analysts are cautious on Thailand’s performance due to its weaker-than-expected tourism receipts and merchandise exports

Industry watchers expect Certificate of entitlement (COE) supply to increase in 2024, which should lead to lower prices.

Companies & Markets

OUTLOOK 2024

Improved 2024 supply to ease COE prices, but potential demand will fan volatility

Supply will be boosted by more de-registrations and government’s ‘cut-and-fill’ measures

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