Global crisis affects Singapore's economy
Singapore’s economy is expected to increase by a mere six percent in the first quarter, due to the political turmoil in the Middle East and the Japan disaster.According to Chua Hak Bin, an economist from Bank of America Merrill Lynch, global crises, such as the trouble in numerous Arab...
Continue Reading • 5 Apr 2011
Jones Lang LaSalle named one of the world's most ethical companies
Jones Lang LaSalle (JLL), the world’s leading real estate services company, has been named one of 2011’s “World’s Most Ethical Companies” by the Ethisphere Institute.This is the fourth consecutive year that JLL has been recognised by Ethisphere, an organisation...
Continue Reading • 5 Apr 2011
Vietnam a favourite among Singapore firms
Vietnam, Malaysia and Indonesia are among Singaporean investors’ most preferred investment spots within Southeast Asia, said a new survey.Of the 120 senior and middle managers polled at Singapore-based companies, 49 percent said that their firms planned to invest or grow investments in...
Continue Reading • 4 Apr 2011
Henderson Land Development eyeing HK$3b in property sales
Henderson Land Development expects a revenue of almost HK$3 billion from property sales this year.John Yip Ying-chee, Executive Director of Henderson, said the company has 1.76 million sq ft of property for sale in Hong Kong. If it is sold at HK$10,000 psf, it will produce approximately HK$17.6...
Continue Reading • 4 Apr 2011
Singapore home loans stuck at low level
The growth of housing loans has dropped to its lowest level in a year.However, experts believe that a larger dip may be on the way, as the full impact of January’s property cooling measures is yet to be seen in the latest numbers.The total value of outstanding mortgages climbed 0.95 percent...
Continue Reading • 4 Apr 2011
HK mortgage rates on the upswing: Hang Seng Bank
Hang Seng Bank, Hong Kong’s third-largest mortgage lender, expects the HIBOR-based mortgage rate to achieve a HIBOR plus 1.5 percent in the next six months.The highest HIBOR offer now is HIBOR plus 1.2 percent, mainly due to a fall in liquidity in Hong Kong, said William Leung Wing-cheung,...
Continue Reading • 1 Apr 2011
Colliers appoints new Director
Commercial brokerage firm Colliers International has appointed Chia Siew Chuin as its new Director and Head of the Research and Advisory Department, effective today.Ms. Chia will occupy the position left by Tay Huey Ying, who will assume the role of consultant to the real estate firm.The firm...
Continue Reading • 1 Apr 2011
Low Keng Huat seeks more land for new homes
Property and construction group Low Keng Huat (Singapore) is seeking to acquire more mass-market residential sites, as it plans to expand its property development portfolio, said Low Keng Boon, the company’s Managing Director.Currently, the company is jointly developing The Minton project...
Continue Reading • 1 Apr 2011
Two top officials to oversee Tianjin Eco-City project
The Singapore government has reassigned two senior officials to the Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC).Tang Wai Yee, the former JTC Corporation Director, will assume the position of Deputy CEO at SSTEC and will be responsible for physical planning and...
Continue Reading • 1 Apr 2011
Early 2011 mortgage approvals spike in Australia
Home loan approvals in Australia witnessed a 20 percent increase in January and February, according to Dean Rushton, Chief Operating Officer at Loan Market.He noted that despite a recovery in mortgage activity, the floods in Australia and the increase in interest rates experienced in the past...
Continue Reading • 31 Mar 2011
US regulators enforce new mortgage standard
A group of federal regulators has announced a new standard for home buyers to obtain the best mortgage rates: only those who can provide a 20 percent down payment and have had no previous problems in paying mortgages can qualify.This is to prevent practices that saw many risky home loans...
Continue Reading • 30 Mar 2011
Bigger bonuses for CDL's Kwek brothers
The pay package for the two Kwek brothers of property and hotels company City Developments Ltd (CDL) increased by as much as S$1.5 million each for the year ended 31 December 2010, according to CDL’s latest annual report.CDL’s Executive Chairman Kwek Leng Beng received “above...
Continue Reading • 30 Mar 2011
Nationwide Building Society offers new loans for the UK
Nationwide Building Society (NBS) has announced that it will offer a new range of large home loans to UK borrowers, starting 30 March 2011.The lender has revealed that it will raise its maximum loan range from £1 million to £2 million, in a bid to target the £1 million-plus...
Continue Reading • 29 Mar 2011
Koh Brothers wins S$63.15m contract
Koh Brothers Group Limited (Koh Brothers) announced that it won a contract worth S$63.15 million from Phileap Pte Ltd, for the construction of Lincoln Suites at Khiang Guan Avenue, off Newton Road, in District 11.“We are pleased to be awarded the construction contract for Lincoln Suites for...
Continue Reading • 29 Mar 2011
Singapore, Beijing sign green building pact
More green building interiors are expected in Beijing, now that authorities from that city and Singapore have decided to cooperate.The Beijing Construction Decoration Association (BCDA) and the Building and Construction Authority (BCA) of Singapore said that they have signed the Green Building...
Continue Reading • 29 Mar 2011
Singapore's housing issues may not affect upcoming election
Singapore’s housing market has been considered a major issue in the country’s upcoming election but a survey reveals otherwise.Conducted by the TODAY newspaper, the survey showed that 58.4 percent of the respondents said that the housing issues in the country would not influence their...
Continue Reading • 29 Mar 2011
Hong Kong sees more new loans approved in February
The value of Hong Kong’s new approved housing loans in February surged to HK$30.3 billion, up 8.2 percent from last month, according to data released by the Hong Kong Monetary Authority (HKMA).The report added that new housing loans drawn down in Hong Kong dropped 15.9 percent from January,...
Continue Reading • 28 Mar 2011
HSBC: Singapore's economic growth set to slow in 2011
The Monetary Authority of Singapore (MAS) will remain in tightening mode, according to HSBC, adding that the series is unstable and follows a big leap in January.Much of the boost in production in anticipation of the Lunar New Year would have occurred in January.Last year, when the Lunar New Year...
Continue Reading • 28 Mar 2011
Singapore to see increase in greener properties
Property developers in Singapore are preparing to include more green features in their new projects.This is in line with the new green building initiatives announced by Senior Minister of State for National Development, Grace Fu. She stated that more funding will be given to developers who...
Continue Reading • 25 Mar 2011
Australia's mortgage exit fees officially banned
A new regulation prohibiting mortgage exit fees may prompt Australians to start comparing mortgages.The ban will apply to all new mortgages issued from 1 July onwards. The regulation is meant to raise competition in the market, according to Treasurer Wayne Swan.Mr. Swan noted that previously, the...
Continue Reading • 25 Mar 2011