Housing market

THE housing market is showing signs of heating up amid the country’s efforts in resuming normal economic activities, an industrial report said.

The search for housing increased 10.9 percent month on month in April, while the number of new houses for sale surged 56.2 percent from one month earlier, according to a report by online marketplace 58.com and housing information platform anjuke.com.

Office building

ALIBABA Group Holding Ltd. has bought a 50 percent stake in a Singapore office building in a S$1.68 billion (US$1.2 billion) deal.

The agreement was struck with a consortium led by Perennial Real Estate Holding Ltd., with the sale expected to close around June, according to a statement yesterday. Alibaba and Perennial will then create a joint venture to redevelop the 50-story building, AXA Tower, located in the city’s financial district.

Logistics sector

THE logistics sector recovered further in April as reopening of businesses gained more steam amid further containment of COVID-19, according to industry data released yesterday.

The logistics performance index was up 2.1 percentage points month on month to 53.6 percent in April.