Daily Briefing: Sims Drive site attracts top bid of $530.9m; Industrial rents to contract 7-10%

Rising rent, worker shortage threaten rich Asia food culture.

• A residential site (pictured) at Sims Drive attracted four bids when the tender closed on Tuesday, said the HDB. Read more here.
• Singapore's strata-titled industrial property market turned more cautious in Q1 2014, with transaction volume for factory plunging by 48 percent quarter-on-quarter to 194 units or its lowest quarterly record since Q4 2008, according to a Knight Frank report. Find out more here.
• The Hong Kong Jin Tian Eating House in Singapore has stopped selling the savory roast duck and pork ribs that drew crowds for a generation, the latest to close down due to escalating rents and difficulty in finding workers. Know more here.