HKLand's commercial leasing market still favourable
Property investment, management and development group Hongkong Land Holdings said that its commercial property leasing markets in Singapore and Hong Kong remained favourable.HK Land’s Interim Management Statement indicated that the company’s vacancy rate in its retail portfolio in...
Continue Reading • 11 Nov 2010
Thailand to limit home loans to prevent bubble
The Bank of Thailand is likely to implement a limit on bank lending for property to prevent a possible bubble formation in the real estate market, said the Thai Condominium Association.Thamrong Panyasakulwong, president of the association, said that Thailand’s central bank is looking at...
Continue Reading • 11 Nov 2010
Yanlord Land's nine month net profit up 10.5%
Yanlord Land Group, a property developer focused on developing luxury integrated residential and commercial property projects in high-growth Chinese cities, has announced that net profit for the nine months ended 30 September 2010 jumped 10.5 percent to $228.7 million from $207.0 million over the...
Continue Reading • 11 Nov 2010
Sabana REIT to raise $554m IPO
Singapore's first Shari’ah Compliant Real Estate Investment Trust (REIT) Sabana REIT will offer a rich distribution yield and raise up to $554 million from its IPO, according to its preliminary prospectus.Sabana REIT would sell 504 million units excluding the 102 million units that have...
Continue Reading • 10 Nov 2010
PropertyGuru clinches spot on Top 10 Digital Media of the Year
PropertyGuru.com.sg has clinched a spot on the list of Top 10 Digital Media of the Year by Marketing magazine.The Digital Media of the Year survey, which aims to document which agency client marketers in Singapore would most likely use, garnered 546 responses, of which 349 or 64 percent were from...
Continue Reading • 10 Nov 2010
SingLand net profit down 11% in Q3
Singapore property group Singapore Land Ltd has reported that its net profit in the third quarter dropped 11 percent to S$50.15 million from the previous year.This was attributed to a lower gross rental income from investment properties, and the absence of contribution from The Sixth Avenue...
Continue Reading • 10 Nov 2010
UK borrowers likely to become mortgage prisoners
Recent reports in the UK have shown how unsustainably low mortgage rates may be giving home owners weak security, as experts warned that borrowers are relying more on cheap repayments and would be struggling if the Bank of England’s base rate increases.Top UK economist Danny Gabay has...
Continue Reading • 10 Nov 2010
K-REIT DPU rose 4% following asset swap
The proposed asset swap of K-Reit Asia with Keppel Land has increased the trust’s distribution per unit (DPU) by 4 percent without raising its equity.The trust’s manager said the unit-holder would receive a higher DPU of around 6.68 cents for the 2011 fiscal year, an increase from...
Continue Reading • 9 Nov 2010
HK banks raise mortgage rates
Several banks in Hong Kong are now raising mortgage rates, signalling the end of tight competition in the mortgage market as the overall economy recovers, according to analysts.Standard Chartered, Wing Lung and Hang Seng banks have raised the margin they implemented on home loans priced against...
Continue Reading • 9 Nov 2010
Treasury China Trust expands into Xian
Treasury China Trust (TCT) and Ginwa Group have committed to a strategic partnership to tap into the growing commercial property market in central and western China.The agreement, which will initially focus on Xian, will likely serve as TCT’s springboard into the untapped commercial real...
Continue Reading • 9 Nov 2010
Keppel Land buys stake in Ocean Properties
Property group Keppel Land Limited, through its wholly-owned subsidiary Straits Property Investments Pte, has acquired an additional 11.85 percent stake in Ocean Properties Ltd. for $107.1 million from HSBC, an existing shareholder of Ocean Properties.Ocean Properties is the owner of Ocean...
Continue Reading • 9 Nov 2010
KSH Holdings posts half-year results
KSH Holdings Limited, a well established construction, property development and property management group, has announced that its revenue for the half year ended September 30, 2010 increased 15.4 percent to S$144.1 million from S$124.9 million in the previous year.“I am pleased to report an...
Continue Reading • 9 Nov 2010
Fortune REIT posts strong revenue income in Q3
Singapore-listed Fortune Real estate investment trust (Reit) has posted a 24.5 percent increase in net property income to HK$444.5 million in the first nine months of the year, as improved economic condition revives interest in purchasing properties.The trust’s distributable income rose...
Continue Reading • 9 Nov 2010
New account openings surge
With the mega IPOs from Global Logistics Properties (GLP) and Mapletree Industrial Trust (MIT) making good starts this month, remisiers have seen an increase in new account openings made by novice investors.“I've had 10 new accounts opened in a two- week period. For the majority of them, it...
Continue Reading • 8 Nov 2010
Australian banks to dump mortgage break fees
Four big banks in Australia are likely to dump their controversial mortgage break fees, according to an Australian newspaper, but a confirmation has yet to be made.The newspaper said that the four major Australian banks, which include NAB, ANZ, Westpac and Commonwealth, are planning to dump the...
Continue Reading • 8 Nov 2010
Top Global eyeing land parcel in China
Catalist-listed property firm Top Global is eyeing a land parcel located on an island governed by Shanghai.With a gross floor area of approximately 808,000 sq m, the land parcel can be developed into retail, residential and commercial use, with a development cost of approximately $900 million.The...
Continue Reading • 8 Nov 2010
CMA invests $747.2m in Shanghai project
CapitaMalls Asia (CMA), a wholly-owned subsidiary of Southeast Asia’s largest property developer CapitaLand, has announced that it has entered into an agreement to acquire a 66 percent stake in a prime shopping mall and office development in Shanghai for S$747.2 million (RMB3.86...
Continue Reading • 8 Nov 2010
Roxy-Pacific sees strong growth in Q3
Property and hospitality group Roxy-Pacific Holdings Ltd. has announced that net profit in the third quarter jumped 42 percent to S$8.9 million from S$6.3 million in the previous quarter.The increase came on the back of a 41 percent increase in revenue to S$53.1 million in Q3, driven by a 44...
Continue Reading • 4 Nov 2010
YTL Hotels opens first centre outside KL
YTL Hotels has opened its Travel Centre in a prime shopping district in Singapore. Situated at Wisma Atria in the heart of Orchard Road, this is the first centre to operate outside Kuala Lumpur, where the hospitality company is based.Set to be the Centre of Service Excellence of YTL Hotels, the...
Continue Reading • 4 Nov 2010
DBS posts $722m Q3 earnings
Southeast Asia's largest lender DBS bank has seen a record quarterly profit at $722 million in the July to September period, up 28 percent from $563 million a year ago.It joined rivals in beating expectations as strong trading income and decreasing bad debts helped it overcome low interest...
Continue Reading • 4 Nov 2010