Daily Briefing: Raffles Hotel to close for renovation; Singapore's tallest skyscraper is almost complete

And here's what you need to know about direct developer funds.

Singapore's historic Raffles Hotel announced that it would cease operation for several months due to renovations beginning next year. Its restoration will be done in three phases beginning with the shopping arcade in January. To know more about the planned restoration of the 129-year-old hotel, click here.

Tanjong Pagar Centre, Singapore’s tallest building standing up 290 metres high, is close to full completion. GuocoLand said the building's 890,000 sq ft office component, Guoco Tower, have already received the Temporary Occupation Permit. Read here to find out more about the Tanjong Pagar Centre. 

It is ironic that development funds are not as widely talked about as other investment instruments, given that it is one of the more lucrative instruments one can make as an investor. So what are direct developer funds? Click here to find out.