Daily Briefing: SIA offers $322m to take TigerAir private; ‘Vertical village’ in Singapore wins world building of the year

And here’s the deal on Singapore’s plummeting property prices.

Singapore Airlines Ltd. offered to pay S$453 million ($322 million) for the shares it doesn’t own in Tiger Airways Holdings Ltd., the money-losing low-cost unit it listed less than six years ago, saying it wants to enhance operations across the group’s network. Southeast Asia’s largest carrier, which owns 55.8 percent of Tiger Airways, said Friday it plans to pay S$0.41 in cash for each share. Read more here.

The Interlace, a series of apartment buildings in Singapore designed by OMA/Ole Scheeran, has been named World Building of the Year. The winner was announced at the World Architecture Festival in Singapore, which wraps up Friday. The Interlace consists of separate apartment buildings that are stacked to create terraces and gardens. Find out more here.

The HDB resale price index reached its peak at 149.4 in the second quarter of 2013 (2Q2013), a 49.4% increase from prices in 1Q2009. The appreciation has come to an abrupt stop after the introduction of the TDSR. Since then, prices have declined by 9.9% to an index of 134.6 in 3Q2015. Prices are still about 34.6% above what it used to be in 2009. With Singapore households already having one of the highest debt levels in South East Asia, it is unlikely that our government will remove the TDSR and MSR measure anytime soon. Read more here.

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