Daily Briefing: GIC co-buys 'Salt Bae' steakhouse for $1.6b; Tariff threats dent Singapore business policy certainty

And guess which development in Paya Lebar Quarter has sold 149 units over two days.

From Bloomberg Finance:

The University of Chicago Booth School of Business' Economic Policy Uncertainty Index for Singapore increased to 155 last month from 126 in February, indicating that the tariff threats are starting to make their mark. This hit a five-month high in March.

"Yet there’s still reason for calm. The index is at a relatively low level given last year’s easing in policy and political uncertainty in Brazil, South Korea, France and the U.K., according to Steven Davis, an economist at the University of Chicago and one of the creators of the index.

'Those developments improve the climate for investment, employment and growth,' Davis said in an email. 'Concerns about U.S. trade policy and the possibility of a major trade war between the U.S. and China cut in the opposite direction.'"

Read more here.

From Deal Street Asia:

Singapore’s Temasek and Britain’s Metric Capital bought the owner of Salt Bae's restaurant in a deal valuing the Turkish firm at $1.6b (US$1.2b), higher than the price in initial reports.

"Nusr-Et was made famous by butcher-turned-social media star Nusret Gokce, who went viral under the nickname 'Salt Bae' in 2017 after posting videos of himself salting meat. Salt Bae’s distinctive cobra-like manoeuver earned Gokce more than 12 million Instagram followers and has helped launch Nusr-Et restaurants in the Middle East, New York and Miami.

Dogus Restaurant Entertainment and Management (D.ream), which has a presence in 170 locations in 12 countries, said on Monday state-owned Temasek Holding and Metric Capital had paid $200 million for a 17 percent holding."

Read more here.

From PropertyGuru:

The Phase 2 of Park Place Residences at Paya Lebar Quarter (PLQ) popped the champagne 149 of the final 219 apartments were bought over two days at an average price of $2,000 psf.

"This brings the total number of units sold at the 429-unit condo to 359 (84%).

'This outstanding response is a testament that discerning buyers and investors recognise the value and unique offering of the units at Park Place Residences at PLQ,' said Tony Lombardo, Lendlease CEO for Asia.

The 99-year leasehold project comprises a mix of one-to three-bedroom units from 480 sq ft to 1,350 sq ft, with prices ranging from $900,000 to $2.2 million."

Read more here.

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