Govt launches S$12m initiative to boost landscape industry
In line with the government’s desire to boost the productivity of the landscape industry, it has allocated S$12 million for initiatives under the Landscape Productivity Roadmap for the next five years.Announced at the Green Thumbs 2011 event, the Landscape Productivity Roadmap aims to...
Continue Reading • 12 Sept 2011
Keppel Land subsidiary declares fund closed at over S$556m
Alpha Investment Partners Limited (Alpha), a wholly-owned subsidiary of Keppel Land Ltd, has announced the first closing of the Alpha Asia Macro Trends Fund II (AAMTF II).The fund raised a commitment of over S$556 million (US$460 million) throughout June from eight institutional investors,...
Continue Reading • 9 Sept 2011
Shanghai banks suspend lending due to skyrocketing housing prices
The China Securities Journal has revealed that banks in Shanghai have either ceased mortgage lending or are imposing stringent requirements on granting loans.According to its report, the central bank’s initiative to widen the base of total deposits allocated for reserves further restricted...
Continue Reading • 9 Sept 2011
IRAS threatens foreclosure on pre-war house if owners don't pay S$7,000
A pre-war terrace house on Devonshire Road in Somerset faces foreclosure after the home owners failed to pay property tax for two years, amounting to around S$7,000.The Inland Revenue Authority of Singapore (IRAS) served the owners with a notice of sale in August 2011.If the home owners fail to...
Continue Reading • 9 Sept 2011
Record profits for property companies in Singapore
Most of the 97 companies that released their full-year earnings for the financial year ended June 2011 saw continued growth, with combined net profits of approximately S$2.4 billion, 14.6 percent higher than the total earnings recorded in the previous financial year.Three of the top five earners...
Continue Reading • 9 Sept 2011
Singapore advances in WEF Global Competitiveness Report
Singapore has overtaken Sweden to take the second spot in the latest World Economic Forum (WEF) Global Competitiveness Ranking, as it develops economic growth and solid public institutions.The country advanced from third place, securing its lead among other Asian economies, while the UK returns...
Continue Reading • 8 Sept 2011
US mortgage demand falls for third straight week
Despite mortgage rates falling to record lows, the demand for home loans in the US continued to fall for the third consecutive week, according to the latest data from the Mortgage Bankers Association (MBA).The MBA’s seasonally adjusted mortgage applications index, comprising both home...
Continue Reading • 8 Sept 2011
The Ascott Ltd enters Chinese, Vietnamese markets
Scheduled to open in 2014, the Ascott Financial City Chengdu is set to be the first residential development to carry the Ascott brand name in the southwestern part of China.The 58-storey development will house 181 units, including one- to four-bedroom apartments and feature facilities such as a...
Continue Reading • 8 Sept 2011
APREA reveals new Board of Directors
The Asia Pacific Real Estate Association (APREA), which represents and promotes the real estate sector in the Asia Pacific region, has announced its new Board of Directors.Established in 2005, the non-profit industry association has adopted a new governance structure to provide direct...
Continue Reading • 8 Sept 2011
UK lenders slash mortgage rates
For the past 12 years, mortgages in the UK have been affordable, with average repayment at just 28 percent of borrowers’ take-home pay, the lowest since 1999. Conversely, 2007 mortgage repayments took up 48 percent of their earnings.According to Halifax, a mortgage lender, the development...
Continue Reading • 7 Sept 2011
Keppel Land subsidiary set to open new office in China
Keppel Land Limited’s property management subsidiary, Alpha Investment Partners Limited (AIP), has announced that it will open a new office in Shanghai, China.The announcement came after AIP closed two deals in Shanghai earlier this year.“AIP is committed to grow and deepen its...
Continue Reading • 7 Sept 2011
CapitaLand goes ahead with S$3.66m share buyback
CapitaLand, Southeast Asia’s largest real estate company, bought back 1.5 million shares yesterday, or 0.035 percent of its issued share capital, in its inaugural buyback exercise.The group said it paid S$2.42 to S$2.45 per share, with the average price paid at S$2.435. Including clearing...
Continue Reading • 7 Sept 2011
Marina Bay Sands gets new CEO
Marina Bay Sands (MBS) has appointed George Tanasijevich as its new Chief Executive Officer and President, replacing Thomas Arasi, who left the company in February this year.A gaming analyst noted that Tanasijevich was well-received within the firm and has good relations with the Singapore...
Continue Reading • 7 Sept 2011
Global recession is now more likely than not, warns Tharman
A global recession is “more likely than not”, as economies in western countries are at “stall” speed, said Singapore's finance minister Tharman Shanmugaratnam.He noted that the world has now “entered a phase where there is a self reinforcing cycle” of a loss of...
Continue Reading • 7 Sept 2011
Facelift in line for Tanjong Pagar estate
A five-year master plan for Tanjong Pagar GRC and Radin Mas single-member constituency has been unveiled by Minister Mentor Lee Kuan Yew, promising residents more green spaces, better transport links and new and improved public housing estates in the next five years.This also aims to make life...
Continue Reading • 7 Sept 2011
Aussie home loan approvals rise slightly in July
The number of home loans approved in Australia edged up one percent to a seasonally adjusted 49,813 in July, up from 49,309 in June, according to the latest figures from the Australian Bureau of Statistics (ABS).Meanwhile, the Australian Capital Territory (ACT) experienced a 0.3 percent...
Continue Reading • 6 Sept 2011
S'pore a top choice for Australian companies
Approximately three out of five Australian firms are looking at expanding across Southeast Asia, with Singapore as their top choice.According to the latest Regus survey, emerging Southeast Asian markets are proving attractive to Australian firms. The research polled over 800 Australian business...
Continue Reading • 6 Sept 2011
Asia Pac construction is world's cheapest, finds new study
Despite experiencing significant economic growth, several countries in the Asia Pacific region have considerably lower construction costs than western countries, according to the latest Annual Construction Cost Comparison by EC Harris Research.Currently in its seventh year, the annual report...
Continue Reading • 6 Sept 2011
Bukit Timah Railway Station to open doors this month
The Singapore Land Authority (SLA) has announced that the Bukit Timah Railway Station and its adjacent railway land will be open to the general public from 16 September.The public will have access to this stretch of the rail corridor for leisure activities. As soon as the railway tracks are...
Continue Reading • 5 Sept 2011
Inflation pressures to stay high: MAS
The Monetary Authority of Singapore (MAS) expects the inflation rate to remain high, on the back of the slowdown in the global economy.According to the central bank’s quarterly report, inflation will remain above five percent for now.“Inflation is expected to remain elevated at...
Continue Reading • 5 Sept 2011