AMP to open property arm in Singapore
AMP Capital plans to expand its portfolio in Asia by setting up an unlisted property arm in Singapore in 2011.Andrew Bird, director and chief investment officer at AMP Capital, said the company will set up a new fund and invest more in global marketing strategies, as well as expand its...
Continue Reading • 14 Dec 2010
Popular Holdings' Q2 profit up 87%
Singapore-based Popular Holdings has posted an 87-percent increase in net profit to $2.6 million for the second quarter ended 31 October 2010, from $1.4 million over the same period last year.Popular’s turnover in Q2 jumped 11 percent to $124.1 million. The half year turnover, however,...
Continue Reading • 13 Dec 2010
Investors in Singapore dump US$2.5bn of US stocks
After overtaking the Japanese as the top Asian investors on Wall Street in 2009, Singapore-based punters prolonged their purchase of corporate stocks this year, until the July to September period.According to the latest US Treasury figures, Singapore investors turned net sellers in the third...
Continue Reading • 13 Dec 2010
Interest rates expected to increase in Singapore
The record-low mortgage rates that are enjoyed by Singapore home buyers may soon be over, said economists.Several economists expect interest rates to climb next year, attributed largely to the increase in forecasted interest rates in the US.According to a survey of 22 economists conducted by the...
Continue Reading • 10 Dec 2010
CEA regulations cause industry shake-up
Real estate companies in Singapore are jostling for the best property agents as a result of the enforcement by the new regulatory body, the Council for Estate Agencies (CEA). New rules state that agents can only work with one property firm, which means that those who previously represented...
Continue Reading • 10 Dec 2010
Suntec REIT acquires interest in Marina Bay Financial Centre
ARA Asset Management Limited has announced that Suntec Real Estate Investment Trust (Reit) has completed the acquisition of a one-third stake in the Marina Bay Financial Centre, which includes the MBFC Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots, for a total of S$1.495...
Continue Reading • 10 Dec 2010
New regulatory body CEA ramps up
The Council for Estate Agencies (CEA), the new statutory board launched to regulate Singapore’s property industry, has already received 150 complaints, said National Development Minister Mah Bow Tan. However, Mr. Tan is not surprised by the number, according to Channel News...
Continue Reading • 10 Dec 2010
China's property prices unaffected by curbs
The tough measures implemented by the Beijing government to cool down China’s buoyant real estate market have yet to create an impact on property prices.According to a recent study conducted by property agency Knight Frank, average price of new homes rose 2.9 percent in 10 key cities in...
Continue Reading • 10 Dec 2010
TCT to acquire two properties for $206.64m
Treasury China Trust (TCT) recently announced that it has entered into two separate deals to buy two properties for $206.64 million.To fund the agreements, TCT intends to raise $79.46 million through a convertible bond and a private placement. The remaining costs will be financed by debt.TCT...
Continue Reading • 10 Dec 2010
Singapore's economy to grow 5.1% in 2011
Economists expect a 5.1 percent growth in Singapore’s economy in 2011, moderating to only a third of the 15 percent expected growth this year.The median estimates from 22 economists polled by the Monetary Authority of Singapore (MAS) last month were each 0.1 of a percentage point higher...
Continue Reading • 9 Dec 2010
US mortgage refinancing activity slows down
Mortgage refinancing activity in the United States has slowed, attributed to the rising interest rates in the mortgage market.Applications to refinance existing mortgages into loans with lower rates have declined for four straight weeks and are now at the lowest level since June this year,...
Continue Reading • 9 Dec 2010
Property curbs prompted by some speculators
The Singapore government had to introduce cooling measures to curb speculation within the public housing market due to a small group of private real estate owners, said Mrs. Lim Hwee Hua, Minister in the Prime Minister's Office.“(The Housing and Development Board's) feedback to us is that,...
Continue Reading • 9 Dec 2010
One million Aussies may switch lenders
About one million mortgage holders are now looking to swap their lenders within the next six months, according to new research released by Newspoll.Research showed that exit mortgage fees are not a hindrance for one in five mortgage holders in Australia who are looking to switch lenders.If the...
Continue Reading • 8 Dec 2010
Analysts bullish on Asian equities
Recent reports from several analysts reflect bullishness on Asian equities, with UBS Investment Bank urging investors to be ‘overweight’ on the stock markets of India, Hong Kong and China.In another report from Nomura Singapore, analyst Lim Jit Soon said he expects 10 percent to 15...
Continue Reading • 8 Dec 2010
GuocoLand China to focus on mega projects
GuocoLand (China) Ltd (GLC), the real estate arm of Malaysia’s Hong Leong Group, plans to go bigger into integrated development in China from its early years of single building projects when it first entered the country.Violet Lee, managing director of GLC, said that after Guoson Centre,...
Continue Reading • 8 Dec 2010
The Ascott Lmited wins master tenancy for Mount Pleasant bungalows
The Ascott Limited, a wholly-owned subsidiary of CapitaLand, has been awarded the master tenancy for 33 black and white bungalows at Mount Pleasant. Though Ascott’s bid was the third highest, the company offered to pay a monthly rent of $435,000, beating six other bidders and making it the...
Continue Reading • 7 Dec 2010
UK mortgage approvals and LTVs surged in November
Credit conditions in the UK mortgage market eased out for the first time in November, ahead of the General Election, according to research conducted by chartered surveyor firm e.surv, which is part of the LSL property group.New figures show that the number of mortgage approvals in the UK rose to...
Continue Reading • 7 Dec 2010
The Ascott Limited unveils first Citadines serviced residence in Indonesia
The Ascott Limited, CapitaLand’s wholly-owned subsidiary, has unveiled its first Citadines serviced residential development in Jakarta, Indonesia.Citadines Quartier Jakarta, a 135-unit residential project, is Ascott’s 15th Citadines property to open in the Asia Pacific region since it...
Continue Reading • 6 Dec 2010
KOP in discussions to ink London deal
Singapore-based hotel and investment company Kop Group is negotiating to take charge of the development of the Grade-II listed former Port of London Authority building located at 10 Trinity Square, EC3, London.The deal will be the first major acquisition by the company, though it has purchased a...
Continue Reading • 6 Dec 2010
Fixed-rate mortgages in Australia pick up
Demand for average fixed-rate mortgages in Australia hit almost 11 percent in November, the highest level seen in 29 months, according to data released by a mortgage broker.This was over the 7.7 percent demand for fixed-rate mortgages recorded in October, and before the Reserve Bank increased the...
Continue Reading • 6 Dec 2010