Daily Briefing: CityDev sees cheaper office deals; Is Singapore no longer a shopper's haven?

And Bukit Batok mixed-use site receives $301m top bid.

City Developments Ltd., Singapore’s second-largest developer, may seek to buy offices this year as rising interest rates makes such assets cheaper worldwide. Read more here.

With more retail tenants closing their shops in Singapore, especially on the iconic shopping belt of Orchard Road, it seems that the city-state is unlikely to reclaim its status as a shoppers’ haven anytime soon. This is amid several attributing factors casting a shadow to the market. Find out more here.

The commercial and residential site at Bukit Batok West Avenue 6 which was released for tender on 30 March received a top bid of S$301.16 million at the close of its tender on Tuesday (24 May), the Urban Redevelopment Authority (URA) revealed. Read more here.