Top News for the Week
• About 9,000 housing units – both public and private – will be built on the site of Keppel
Club as part of the future Greater Southern Waterfront
• National Day Rally covered issues on employment, education, the Greater Southern
Waterfront and climate change
• New measures to help first-time buyers of HDB flats will be announced
• Exports fall 11.2% in July amid electronics slump
Residential
- HDB flats among 9,000 homes planned for Keppel Club site
- HDB flats on prime Keppel Club site: Premium prices or tweaked sales terms?
- Greater Southern Waterfront plans offer opportunities for developers
- Park Place Residences nearly sold out; just 3 units available
- New measures soon to help first-time buyers of HDB flats
Commercial
- 15 strata offices at Peninsula Plaza up for sale with S$17.6m guide price
- Two floors at Southpoint sold for S$78.4m
Retail
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- 33 units at Parklane Shopping Mall up for sale
- Unmanned stores one way to beat retail manpower crunch
- Wet market store goes digital to reel in younger customers
- Furniture brand Commune taps tech tools for AR, VR experience
Government
National Day Rally highlights
OLDER WORKERS
Retirement, re-employment ages to go up
• Retirement age to go from 62 to 63 in 2022, then to 65 by 2030
• Re-employment age to go from 67 to 68 in 2022, then to 70 by 2030
Higher CPF contribution rates
• CPF rates for workers aged above 55 to be raised in stages, starting in 2021 and taking
about a decade
CPF rates for those aged 60 and below to eventually be the same as those for younger
workers
Support for firms
• Support package to help firms adjust, to be announced in Budget 2020
EDUCATION
Enhanced preschool subsidies
• Higher quantum across the board
• Additional subsidy income ceiling raised from S$7,500 per month to S$12,000 per month
Extension of KidSTART
• Scheme for children from low-income families to be extended, reaching another 5,000
children over the next three years
More affordable tertiary education
• Annual fees for full-time general degrees at Singapore Institute of Technology and
Singapore University of Social Sciences lowered to S$7,500
• Government bursaries for university raised from current level of up to 50 per cent of
general degree fees, to up to 75 per cent; raised even more for medical courses
• Government bursaries for polytechnic diplomas raised from current level of up to 80 per
cent, to up to 95 per cent
CLIMATE CHANGE
Coastal defences
• Singapore to examine options for defending against rising sea levels, from polders to
reclaiming islands and creating a reservoir
More Government
- Retirement age, CPF rates for older workers to be raised: PM
- Govt to engage businesses on support package for retirement, re-hiring age changes:
Heng - Singapore welcomes all players to test 5G innovations: Iswaran
- ‘Productive longevity’ is behind proposals for older workers
- Accounting bodies, IMDA roll out plan to help smaller firms adopt technology
Economy
- Singapore exports fall 11.2% in July amid electronics slump
- Singapore fintech firms to raise headcounts: Poll
- Firms looking for support in next Budget for upcoming CPF hikes for older workers
- Singapore one of 4 markets to post double-digit growth in Swiss watch imports in H1
Industrial
- Kaki Bukit Place factory up for sale with S$5.5m indicative price
- Senoko Drive industrial site tender not awarded after 2 rejected bids
Hospitality
- ‘Downtown South’ resort likely to be built on Pulau Brani
- Hotels of the future
- Start-up RedDoorz raises $97m, eyes new tech hub in Vietnam
Overseas
- HK property market withstands unrest that is roiling economy
- London homes’ asking prices post first annual increase in 2 years
