Asian REITs' market cap up 22.8%
The Asia Pacific REIT market saw a 22.8 percent year-on-year increase in market capitalisation in 2010 to US$156.8 billion, up from the previous year’s US$66 billion, said Asia Pacific Real Estate Association (APREA), which represents and promotes the property sector on a regional basis.The...
Continue Reading • 15 Feb 2011
World economy outlook remains mixed
The Singapore economy will likely see a four to six percent growth in 2011 but the outlook for the world economy is still mixed, said Heng Swee Keat, Managing Director of Monetary Authority of Singapore (MAS).Financial markets will likely be volatile in the coming months, as reflected by the...
Continue Reading • 14 Feb 2011
Top-end mortgages unaffected by measures
The latest property measures implemented by the government have affected the demand for new loans at the lower end of the market but not at the high end, said Piyush Gupta, Chief Executive of DBS Group.Mr. Gupta said it is still “too early” to predict how much impact the latest...
Continue Reading • 14 Feb 2011
GLP posts strong Q3 profit
Global Logistic Properties (GLP), a wholly-owned subsidiary of Singapore sovereign wealth fund GIC, has announced that its net profit for the third quarter rose 2.1 percent to US$82.1 million, from the US$305.4 million recorded in the previous year.Revenue climbed 12.9 percent to US$125.2...
Continue Reading • 14 Feb 2011
US mortgage rates rise to 10-month high
Mortgage rates in the United States rose to a 10-month high, reducing affordability rates for home buyers, as the market struggles to recover from dip levels.Mortgage-finance company Freddie Mac said 30-year fixed-rate mortgages climbed 5.05 percent in the week ended 10 February, while the...
Continue Reading • 11 Feb 2011
JLL sees growth in Phuket
Real estate management group Jones Lang LaSalle (JLL) has announced that it posted more than 20 percent growth in Phuket in 2010, taking the total number of estates it manages on the island to 17.JLL established its Phuket office in 2008 and now seeks to raise the number of its managed estates on...
Continue Reading • 11 Feb 2011
KSH Holdings Q3 net profit up 57%
KSH Holdings has announced that its net profit for the third quarter ended 31 December 2010 rose 57 percent to S$8.2 million, from S$5.2 million over the same period in 2009.“I am pleased to report an increase in net profit for this financial period. This serves as a testament to the...
Continue Reading • 11 Feb 2011
China to increase PHF mortgage rates
China has announced that it will increase the Public Housing Fund (PHF) mortgage rates for first-time home buyers, in line with the latest increase in the country’s benchmark interest rates.According to a statement released by the Ministry of Housing and Urban-Rural Development, mortgage...
Continue Reading • 10 Feb 2011
Asian stock markets tumbled after interest hike
Asian stock markets fell yesterday, following China’s move to increase interest rates for the third time in four months, in an attempt to control rapidly escalating prices.Market watchers are preparing themselves for further tightening measures, as inflation is likely to remain high, adding...
Continue Reading • 10 Feb 2011
SGX appoints new derivatives head
Michael Syn will take on the role of Senior Vice President and Head of Derivatives at the Singapore Exchange (SGX), starting 1 March.Mr. Syn will spearhead the growth of SGX in derivatives’ trading and distribution, “building on our position as an award-winning derivatives...
Continue Reading • 10 Feb 2011
CCT appoints new head of asset management
CapitaCommercial Trust (CCT), a wholly-owned subsidiary of CapitaLand, announced that it has appointed Yvonne Ong its new Head of Asset Management.She will replace Faith Connie Soh, who will be focusing more on special projects related to the company.Prior to joining the company, Ms. Ong was the...
Continue Reading • 10 Feb 2011
Sim Lian posts strong Q2 results
Singapore property developer Sim Lian Group saw strong earnings in the second fiscal quarter, on the back of lower contract costs, gains in asset disposal and improved takings from its construction division.Sim Lian’s revenue climbed three percent to S$172 million in Q2, from S$166.5...
Continue Reading • 10 Feb 2011
Emery Point owners resolve dispute with CDL, others
The High Court suit filed by the management of the Emery Point condominium in Tanjong Katong over various building defects was resolved on Tuesday.The management, which represents the owners, had taken legal action against property developer City Developments Limited (CDL), the main contractor,...
Continue Reading • 10 Feb 2011
CDL and others sued over defects at Emery Point condo
Emery Point condominium residents have filed a suit against listed property developer City Developments Limited (CDL), the main contractors, five subcontractors and the architect, due to many building defects.The condo’s management operation (representing the owners) is claiming...
Continue Reading • 9 Feb 2011
Banks to end preferential mortgage rates in Shenzhen
Bank of China Ltd. along with four other state lenders will end preferential mortgage rates for first-home buyers in Shenzhen, according to a local newspaper, marking the central government’s latest measures to curb property prices.Industrial and Commercial Bank of China Ltd, Bank of...
Continue Reading • 9 Feb 2011
Fortis Healthcare eyeing Singapore REIT
Indian hospital chain Fortis Healthcare is planning to launch a Real Estate Investment Trust (REIT) and to list it in Singapore, said Yogesh Sareen, Chief Financial Officer of Fortis.“This is under active evaluation. We don't have a clear timeline on that or a clear ‘yes’ or...
Continue Reading • 9 Feb 2011
Hsieh to oversee Fullerton after acting CEO's resignation
Fullerton Fund Management has announced that Hsieh Fu Hua, a member of the company’s board of directors, will work closely with Fullerton’s Chief Operating Officer and Chief Investment Officer to ensure that the firm will run smoothly, until a new Chief Executive is appointed.This...
Continue Reading • 9 Feb 2011
Singapore market activity returns to normal
Activity in the Singapore market improved in January, from the traditionally slow December holiday season but was quieter than January 2010.Total securities volume dropped 16 percent on-year to 38 billion shares but was higher than the 25.4 billion shares sold in December, according to data...
Continue Reading • 9 Feb 2011
MCC Land steps up property development in Singapore
MCC Land (Singapore) Pte Ltd, the property unit of China Metallurgical Group Corp (MCC), is stepping up property development in Singapore, making it China’s first state-owned property company to expand overseas.“Due to quick sales and fast capital withdrawal, Singapore will be our...
Continue Reading • 9 Feb 2011
CBRE 2010 net income up 501%
Commercial property services company CB Richard Ellis (CBRE) has announced that its net income for the full-year 2010 rose 501 percent to $200.3 million or $0.63 per diluted share, from $33.3 million or $0.12 per diluted share in 2009.Revenue for 2010 surged 23 percent to $5.1 billion, compared...
Continue Reading • 8 Feb 2011