ANZ set to move into Ocean Financial Centre
ANZ has announced its intention to transfer its Singapore head office from One Raffles Place to the Ocean Financial Centre at Collyer Quay, in the second half of this year.“Moving to a world-class building reflects ANZ’s commitment to both Singapore and to the South and South East...
Continue Reading • 9 Jul 2010
Higher rates hit small Australian firms
Big banks in Australia are likely to keep lifting interest rates to small- and mid-sized business clients as part of their bid to recover funding costs.The increase in interest rates will be another hurdle for the sector, which remains volatile in today’s economic condition. Many small- and...
Continue Reading • 8 Jul 2010
Global economic recovery continues, says Credit Suisse
The recovery of the global economy will continue but at a slower pace compared to the past two quarters, and should avoid falling back into recession, according to analysts at Credit Suisse.Ms. Fan Cheuk Wan, the bank's head of Asia Pacific research, said that while some fear that another decline...
Continue Reading • 8 Jul 2010
Singapore IPO scene records poor showing
The Singapore initial public offering (IPO) scene paled compared with other Asian nations in the second quarter of 2010, according to the recent global IPO study conducted by accounting firm Ernst and Young.For the second quarter ended 30 June 2010, the Singapore Exchange attracted six IPOs from...
Continue Reading • 8 Jul 2010
PropNex to celebrate 10th anniversary
Local property agency PropNex has achieved a major milestone as it celebrates ten successful years of trusted customer service and professionalism next week.Propnex’s success has been the product of hard work, dedication and passion, as well as its business strategy to leverage on...
Continue Reading • 8 Jul 2010
JLL hires two Capital Market experts
Jones Lang LaSalle (JLL) has hired two experts to further enhance its 185 Capital Markets professionals in the region – a move that is aimed at further expanding the company’s Asia Capital Markets business.Mr. Akihiko Mizuno is set to join JLL in August as head of Capital Markets...
Continue Reading • 8 Jul 2010
Ascott wins two China Somerset contracts
Ascott Limited, a wholly-owned service residence business unit of CapitaLand, has won contracts to manage two properties, one each in Shenzhen and Xi'an.It follows the company’s recent expansion into Chengdu after the opening of Somerset Riverview, Chengdu in April.The latest additions,...
Continue Reading • 8 Jul 2010
Keppel Land tops-out Ocean Financial Centre
Keppel Land Limited has topped-out its latest development – Ocean Financial Centre – further strengthening its position as the leading developer of international-grade commercial offices.The topping-out for Ocean Financial Centre was commemorated by Ms. Grace Fu, Senior Minister of...
Continue Reading • 8 Jul 2010
22% of net lettable area at 50 Collyer Quay leased out
Mainboard listed Overseas Union Enterprise (OUE) has announced that its subsidiary – Clifford Development – has obtained pre-committed leases of almost 88,000 sq ft for its latest development 50 Collyer Quay, which translates to around 22 percent of the total net lettable area.The...
Continue Reading • 8 Jul 2010
UK mortgage worries hit property confidence
The percentage of people expecting home prices to increase within the next six months fell to 78 percent this month from 81 percent in April.About 77 percent of people polled by zoopla.co.uk said mortgage availability in the UK had not improved over the past three months, while 27 percent said it...
Continue Reading • 7 Jul 2010
Fu Yu unit sells buildings and land-use rights in Shanghai
A subsidiary of mainboard-listed Fu Yu Corporation has agreed to sell land-use rights and buildings in Shanghai’s Free Trade Zone.The land-use rights comprise a 33,280-sq-m area, which run from 1 March 1996 to 28 February 2046. The deal also includes a three-storey production-cum-warehouse...
Continue Reading • 7 Jul 2010
Hotel Grand Central acquires Australian hotel for A$47m
Singapore-listed Hotel Grand Central has inked conditional agreements to purchase an Australian hotel and its business for of A$47 million (S$55.1 million).The selling price for the Courtyard by Marriott Surfers Paradise in Queensland works out to around A$116,000 per room. The 405-room,...
Continue Reading • 7 Jul 2010
Tsit Wing Coffee Company sells HK property
Tsit Wing Coffee Company, a subsidiary of Tsit Wing International, has sold a Hong Kong property to an independent third party for HK$16.9 million (S$3 million) in cash.The property is located at Kwai Tak Industrial Centre in the New Territories in Hong Kong. It was previously used as a warehouse...
Continue Reading • 7 Jul 2010
CMA acquires Metro's Gurney Plaza Extension
CapitaMalls Asia (CMA) is acquiring Malaysia retail property Gurney Plaza Extension from an associate company of Metro Holdings for S$91.5 million, following Metro’s announcement to exercise a put option.The 134,549-sq-ft Gurney Plaza Extension is a nine-storey retail block located in...
Continue Reading • 7 Jul 2010
AIMS AMP Capital Industrial Reit bags Architecture Award
Mainboard-listed AIMS AMP Capital Industrial Reit has announced that one of its assets has been awarded the Architecture Award in the prestigious Asia Pacific Property Awards 2010.The trust said its 13-storey business park building located at 1A International Business Park (1A IBP) has won the...
Continue Reading • 7 Jul 2010
UK lenders fear mortgage drought
Mortgage lenders in the United Kingdom expect the number of new home loans to drop within the next three months, said the Bank of England.The expected decline in mortgage applications will raise fears that a second credit crunch could probably emerge, with many banks and lending institutions...
Continue Reading • 6 Jul 2010
Glorious Property cautious on sales outlook for H2
Shanghai-based developer Glorious Property said it is cautious on the outlook for late-2010 sales, following the harsh measures introduced by the government in an attempt to rein in the red-hot property market.Glorious Property logged contracted sales of 4.2 billion yuan (S$862 million) in H1...
Continue Reading • 6 Jul 2010
CEO of CapitaLand's Singapore residential business resigns
CapitaLand has announced the resignation of Patricia Chia as chief executive of its Singapore residential business, citing that she wished to “spend more time with her family”.Her post will be assumed by Wong Heang Fine, who will still continue his current role in the development of...
Continue Reading • 6 Jul 2010
Interest rates on refinancing mortgages in the US drops
The average interest rates on refinancing mortgages in the US have declined, with the 30-year fixed-rate mortgage for refinancing falling two basis points on Friday compared to Thursday.The average 30-year fixed-rate for refinance mortgages hit 4.76 percent last week, compared with 4.73 percent...
Continue Reading • 5 Jul 2010
TCT's portfolio sees 6.64 percent increase
Treasury Holdings Real Estate Pte Ltd – the trustee manager of Treasury China Trust (TCT) – has announced that its property portfolio increased RMB586 million (6.64 percent) over its portfolio value of RMB8.834 In June last year. The portfolio valuation for the current period...
Continue Reading • 5 Jul 2010