International News
Asian Countries Do business with China, Lose More Than Profit, but Still Cannot Leave China
In a significant turn of events, the United States has surpassed China as the premier export destination for South Korea and Taiwan, marking a pivotal shift in Asia’s trade landscape. This development, observed in December, underscores a broader trend where Asian economies are exporting less to China as a percentage of their total exports, while […]
Read More
Thai Gov’t Raises Threshold for Reduced Transaction Fees on Property Priced from US$90k to US$258k
The Thai government has unveiled a series of initiatives aimed at revitalising the country’s real estate sector. Among these measures is the approval by the Thai cabinet to increase the minimum tax rate on home and condominium transactions to 7 million baht, approximately US$209,000, as reported in a government statement released on Tuesday 9 April […]
Read More
Revised Vietnam Land Law Allowing Property Rights for Overseas Vietnamese to Boost Real Estate Market
The recently revised Land Law, which extends land use rights to overseas Vietnamese (OVs) and Vietnamese citizens living abroad, is anticipated to provide a significant impetus to the country’s real estate sector, according to Vietnamplus on 11 April 2024. Lieu Nguyen, the global ambassador for Vietnam, Cambodia, and Indonesia at the US National Association of […]
Read More
Dubai to Introduce World’s First Flying Taxi Early Next Year
Dubai, renowned for its innovation and luxury, is set to pioneer a groundbreaking advancement in urban transportation with the world’s first flying taxi. Joby Aviation, a California-based air-taxi company, has forged a partnership with the Dubai government to launch air taxi services in the city, slated to commence in 2026, with potential initial operations as […]
Read More
Chinese Developer Shimao Faces Liquidation Order Over US$200m Loan
Chinese property developer Shimao Group is facing a liquidation petition filed by China Construction Bank (Asia) over a financial obligation of HK$1.6 billion (US$204 million), according to the company’s statement released on Monday and updated by Business Times on 8 April 2024. In a filing to the Hong Kong stock exchange, Shimao Group announced its […]
Read More
China’s Real Estate Evolution: Lessons for Asia’s Economic Balance
China’s real estate sector has undergone a profound transformation, transitioning from a state-dominated model to a market-oriented approach, mirroring broader shifts in the Asia Pacific region. A detailed analysis of the changing real estate market impact on the Asian market by Kaize Zhu, a researcher at NUS University in Singapore and published by eastasiaforum on […]
Read More
Singapore New National Plan Commits Over US$15 million on Scholarships for 15,000 Top Students to Study AI Technology
Singapore has unveiled an ambitious plan to bolster its global standing in business and innovation by injecting more than S$1 billion, equivalent to over US$743 million, into artificial intelligence (AI) initiatives over the next five years. The announcement came as part of Singapore’s 2024 National Budget, demonstrating a strategic push towards technological advancement and economic […]
Read More
China’s Property Investment Sees 9% Decline in First Two Months, Still Down but Slower than 2023
Property investment in China witnessed a 9% year-on-year decline in the first two months of 2024, a notable improvement from the 24% fall recorded in December 2023, according to data from the National Bureau of Statistics (NBS). Similarly, property sales by floor area experienced a 20.5% slide in January-February compared to a year earlier, showing […]
Read More
China’s Minister of Housing: No Bailouts for Struggling Developers, Some Property Developers Can Go Bankrupt If Necessary
In a pivotal move to address the enduring crisis in China’s real estate sector, the government has unequivocally rejected the rescue of financially beleaguered property developers, emphasising the adherence to market laws and principles. The announcement, reported by NBC New York on 11 March 2024, underscores China’s commitment to rectifying the real estate market’s dysfunction […]
Read More
New Ashton Asoke Condominium Worth US$168m Faces Demolition by Thai Supreme Court
The Ashton Asoke condominium, a 6-billion-baht (US$168 million) project located in Bangkok’s Watthana district, is on the brink of demolition following a Supreme Administrative Court ruling, according to Aseannow dated 8 March 2024. The court’s decision, issued in July last year, invalidated the building permit due to the insufficient width of the main entrance, a […]
Read More