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EDB eyes $8b-10b of fixed asset investments in Singapore for 2019

15 Feb 2019 - Singapore Business Review
With these investments, Singapore wants to be a regional platform amidst global trade tensions. Singapore is expected to attract fixed asset investments (FAI) worth $8b-$10b in 2019, similar to its 2018 expectations, the Singapore Economic Development Board (EDB) revealed in its yearly review. In 2018, ...

Ageing population to bolster pharma market growth by 5.4% annually

14 Feb 2019 - Singapore Business Review
Medicine sales could also grow 5.7% annually and hit $2.22b by 2028. Singapore’s pharmaceutical market is set to benefit from its ageing population and grow by 5.4% annually from $1.28b in 2018 to $1.66b in 2023, Fitch Solutions said. Medicine sales could experience an annual growth of 5.7% over the ...

Salaries of digital talents could rise 10-15% when switching jobs in industries: report

14 Feb 2019 - Singapore Business Review
Financial services, e-commerce, and telcos emerge as top industries to be dominated by digital talents. Talents in digital could expect salary increases of 10-15% when switching jobs of similar industries, a salary report by employment agency Michael Page revealed. According to the agency, this has been ...

CBD Grade A office rents surged 14.9% in 2018

14 Feb 2019 - Singapore Business Review
Rents in Shenton Way/Tanjong Pagar jumped 18.4% to $9.53 psf pm in Q4. Prime office rents in Singapore’s Central Business District (CBD) edged up 14.9% in 2018 after a QoQ growth of 2.4% in average CBD Grade A office rents to $9.43 psf pm, Colliers International said. The research firm revealed that ...

Chart of the Day: Office supply pipeline could hit 704,000 sqft in 2019

14 Feb 2019 - Singapore Business Review
About 148,000 sqft will be completed in the CBD. This chart from Edmund Tie & Company shows that office supply completed in 2019 could reach 704,000 sqft in 2019. In particular, 148,000 sqft of office supply is expected in the Central Business District (CBD). By 2020, the firm believes that office supply ...

Daily Briefing: Median monthly household income up 3% in 2018; European Parliament OKs EU-Singapore free trade agreement

14 Feb 2019 - Singapore Business Review
And AVA mulls to review regulations on pet boarding businesses. From Channel News Asia: Households headed by a Singapore citizen or a permanent resident saw their median monthly income increase 3% in nominal terms to $9,293 in 2018 from $9,023 in 2017, data from the Singapore Department of Statistics ...

Singapore trails only behind Netherlands in readiness for driverless cars: KPMG

13 Feb 2019 - Singapore Business Review
The Lion City’s test town for driverless vehicles is complete with traffic lights and a rain machine to recreate stormy tropical weather. Singapore retained its second spot amongst 25 countries that have been actively rolling out initiatives in support of autonomous vehicles (AV), according to KPMG’s ...

Private home prices rose 7.9% in 2018 despite property curbs

13 Feb 2019 - Singapore Business Review
A high number of new private homes sold at relatively high prices in H1 2018 drove the hikes. Private home prices edged up 7.9% in 2018 despite the new cooling measures introduced by the government in July, according to OrangeTee & Tie’s Private Residential market report for Q4 2018. Prices were observed ...

Property investment sales dropped 6.2% in 2018

13 Feb 2019 - Singapore Business Review
It was dragged down by the lack of big-ticket investment deals. Retail investment sales slipped by 6.2% YoY from $32.2b to $30.2b in 2018 as sales in retail, office and industrial sectors declined. According an Edmund Tie & Company report, residential investment sales still account for most of the overall ...

Singapore's visitor arrivals jumped 6.2% to 18.5 million in 2018

13 Feb 2019 - Singapore Business Review
Tourism receipts also inched up 1% to $27.1b. The tourism sector was able to power through economic uncertainties as visitor arrivals (VA) increased 6.2% YoY to 18.5 million in 2018, the Singapore Tourism Board (STB) revealed. The agency noted that the record high increase was fueled by the VA growth ...