Govt official explains housing policy
The housing market was a hot topic for two veteran Kampong Chai Chee grassroots leaders who questioned Mrs. Lim Hwee Hua, Minister in the Prime Minister's Office, on policy changes and what they observed as shortcomings.Bernard Choo, a residents’ committee member, asked if housing...
Continue Reading • 6 Dec 2010
KepLand receives positive advance tax ruling on MBFC divestment
The Inland Revenue Authority of Singapore (IRAS) has given Keppel Land a positive advance tax ruling, which will allow the developer to realise $394 million net gains from the proposed divestment of Phase One of Marina Bay Financial Centre (MBFC). The amount is higher compared to the $321 million...
Continue Reading • 6 Dec 2010
CapitaLand divests all units at The Adelphi
CapitaLand, Southeast Asia’s largest property developer, is divesting its 163 strata-titled units at The Adelphi near City Hall MRT Station for approximately $218.132 million.The company said on Friday that its indirect wholly-owned unit, Adelphi Property Ltd has entered into four sales and...
Continue Reading • 6 Dec 2010
KOP and Reignwood acquire London landmark
Singapore-based KOP Properties and Beijing’s Reignwood Group have jointly acquired Ten Trinity Square in London for approximately S$219 million (£107 million).The historical landmark is located near London’s River Thames, which is in the vicinity of Tower Bridge, the Tower of...
Continue Reading • 6 Dec 2010
More UK home loans available to borrowers with small deposits
The number of mortgages available to UK borrowers with small deposits rose 50 percent over the past year, according to a UK-based financial price comparison website Moneyfacts.co.uk.However, interest rates on these mortgages are slightly high, according to The Telegraph.Currently, more than 1,000...
Continue Reading • 3 Dec 2010
Substantial shareholder reduces Sabana Reit stake
A substantial shareholder has reduced its stake at Sabana real estate investment trust (Reit), the first Syariah-compliant Reit in Singapore.Moore Macro Fund said in its regulatory filings with the SGX that it sold nine million stakes on the open market, reducing its shares from 6.32 percent to...
Continue Reading • 3 Dec 2010
S'pore is Asia's 8th most expensive city
Singapore is now Asia’s eighth most expensive city, up from ninth last year, according to survey results by management and assignment solutions company ECA International.Meanwhile, it ranked 42nd globally, driven by rising prices and the strengthening of the Singapore dollar.The country...
Continue Reading • 3 Dec 2010
US loan demand falls as refinancing drops
Applications for home loans in the US slipped last week, as interest rates increased to its highest level since mid-August, driving down mortgage refinancing applications, according to an industry group.The Mortgage Bankers Association (MBA) said the index for seasonally adjusted mortgage...
Continue Reading • 2 Dec 2010
Land acquisitions drive up Wharf Holdings' shares
Shares of Wharf Holdings Ltd, owner of the two largest shopping malls in Hong Kong, climbed after announcements that it acquired two land plots in China's Jiangsu province.The shares increased 7.1 percent to close at HK$55.90 on the HK stock exchange, making it the largest gain since July last...
Continue Reading • 2 Dec 2010
Kim Eng opens retail investor centre
Kim Eng Holdings, Asia's leading securities & investment broker, has opened its first retail investor centre in Singapore’s nex @ Serangoon Central, allowing investors to access the company’s stock broking services in a comfortable location.“We are looking to grow our client...
Continue Reading • 2 Dec 2010
Singapore's market cap down 0.62%
Singapore saw a 0.62 percent decline in market capitalisation over the month to $823 billion, due to eurozone debt concerns and new political tensions in Korea.According to data from The Business Times, the market cap for November hovered at a near three-year high, or at pre-crisis levels, at...
Continue Reading • 1 Dec 2010
Australia's rising interest rates forces house sales
One in 10 home buyers in Australia believe the latest round of interest rates could force them to sell their house, according to a survey.The Mortgage Choice survey, completed a day before the Reserve Bank's decision to lift interest rates, indicated that 9 percent of mortgage holders could not...
Continue Reading • 1 Dec 2010
Economists raise growth forecasts for 2011
Many economists have raised their growth estimates for the Singapore economy in 2011, exceeding the official forecast range in some cases.The services sector will be the prime driver of this growth, even as the challenges of managing capital inflows and inflation persist.“Services will...
Continue Reading • 1 Dec 2010
JLL launches Property Investment Guide for Asia Pacific
Jones Lang LaSalle (JLL), in conjunction with law firm Blake Dawson, has launched a joint Property Investment Guide for Asia Pacific.The guide, which covers 14 major countries, deals with issues ranging from property tenure, operational requirements for foreign corporations and major property...
Continue Reading • 1 Dec 2010
Oxley Holdings' Q1 profit soars
Newly listed property developer Oxley Holdings has posted an eleven-fold jump in net profit for the first quarter, as the company recorded revenue from its maiden property projects.Revenue for the first quarter 2011 hit $9.9 million, attributed to good sales recognitions from projects like Suites...
Continue Reading • 1 Dec 2010
Cushman & Wakefield to expand Asian team
Cushman & Wakefield Inc. intends to increase the headcount of its Asian brokerage and research teams to tap on the region’s growing property activity.The world’s biggest privately held property services firm will add 10 to 15 people to the 25-staff regional research team over the...
Continue Reading • 30 Nov 2010
UK mortgage approvals slip in October
Mortgage approvals in the UK dropped to an eight-month low in October, reflecting the increasing slowdown in the property market.The Bank of England said mortgage approvals to purchase homes reached 47,185, down from 47,369 approved loans in September.According to the median of 17 predictions in...
Continue Reading • 30 Nov 2010
Suntec Reit to raise $429m from placement
Singapore-based unit trust Suntec Reit, which owns a majority stake in Suntec City, has announced its plan to raise as much as $429 million through a private placement of new units to partially fund the acquisition of properties at Marina Bay Financial Centre (MBFC) worth $1.5 billion.The trust...
Continue Reading • 30 Nov 2010
Malaysia's Genting hits jackpot in Q2
Malaysia’s Genting Bhd hit the jackpot after reporting that net profit in the second quarter was more than doubled, fuelled by strong sales from its hospitality and leisure division.“The increase came mainly from the leisure and hospitality division with the commencement of operations...
Continue Reading • 30 Nov 2010
Sunway to launch RM1.1b Singapore project
Malaysian conglomerate Sunway Holdings will launch another property project in Singapore next week, with a gross development value (GDV) of approximately RM1.1 billion.Yau Kok Seng, Sunway’s managing director, said the 1.92-hectare project, known as Vacanza @ East, will be situated in a...
Continue Reading • 30 Nov 2010