CREO mulls AIM exit for Singapore listing
In a quest to tap stronger capital flows and a deeper investor base in Asia, China Real Estate Opportunities (CREO), one of the biggest firms in London's AIM (Alternative Investment Market), may give up its UK listing to be quoted in Singapore.The company, which owns around £840 million...
Continue Reading • 9 Mar 2010
Government will not introduce further measures to cool property market
National Development Minister, Mah Bow Tan, has said that although the government is closely monitoring the property market, it will not introduce further measures for now.“If there are signs that the market will overheat again, we are ready to introduce additional measures to stabilise the...
Continue Reading • 9 Mar 2010
CapitaMalls Asia acquires Chengdu project for $114 million
CapitaMalls Asia (CMA) has purchased the Chengdu development from CapitaRetail China Development Fund II (CRCDF II) for 554.2 million yuan or $114 million.The Chengdu development is comprised of residential, office and retail components.The acquisition was made through the purchase of a 100...
Continue Reading • 9 Mar 2010
JTC to lease out 95,000 sq ft of office space at its HQ
JTC Corporation will lease out about 95,000 sq ft of office space at its headquarters near Jurong East MRT Station. A tender exercise was conducted recently to appoint a sole marketing agent to help it find tenants for the building.The space to be leased represents around 21 percent of the...
Continue Reading • 9 Mar 2010
MND announces changes to the Reserve List System
Minister for National Development, Mah Bow Tan, has announced three changes to the reserve list system under the government's land sales programme.With immediate effect, the government has reduced the deposit required on Reserve List sites for successful applicants from the current five percent...
Continue Reading • 9 Mar 2010
HDB extends mortgage assistance
According to Grace Fu, the Senior Minister of State for the Ministry of National Development & Ministry of Education, the recent announcement made by HDB to extend second concessionary loans is to help flat buyers manage their mortgage obligations and not to promote property...
Continue Reading • 8 Mar 2010
Changes in housing policy not enough for some PRs to take up citizenship
The government has sharpened the differentiation in housing benefits enjoyed by Singapore citizens and permanent residents (PRs), but some PRs claim it is not enough for them to take up citizenship.Parliament recently revealed that a household comprising of one citizen and one PR would have to...
Continue Reading • 8 Mar 2010
New property measures protect genuine Singapore home-owners
The Government announced new property measures on Friday that will aim to further safeguard the interests of Singaporeans for whom their property purchase is primarily for residence, rather than financial investment.The most notable measure was the extension of the second HDB concessionary loan...
Continue Reading • 8 Mar 2010
UK mortgage holders unaware of their interest rates
Nearly three million mortgage holders in the United Kingdom are unaware of the interest rates that they are paying for their loans, according to a report.Research conducted by Post Office in the UK showed that 28 percent of the people in the country have no idea on the interest rate they are...
Continue Reading • 5 Mar 2010
HK Land's net profit increased to US$1.64 billion in 2009
Hongkong Land Holdings reported that its net profit for 2009 had reached US$1.64 billion, compared to its US$109 million net loss in 2008.According to the property developer, the reasons behind the company’s achievement are the strong contribution from residential developments and...
Continue Reading • 5 Mar 2010
Plans to develop retirement housing villages to be studied
Property developers in Singapore are already planning to develop retirement housing villages in zoned residential sites in the country.However, the government will first study a suggestion made by Nominated MP Laurence Wee that those interested in developing such retirement villages will be given...
Continue Reading • 5 Mar 2010
Santander cuts rates on its 80% mortgages in the UK
Santander has announced that it will cut rates on its 80 percent loan-to-value (LTV) mortgages to create new best buy deals.A 0.75 percent reduction will be set across its high LTV products, now offering a 3.25 percent two-year tracker, including a free valuation and cash-back on completion and a...
Continue Reading • 4 Mar 2010
Lend Lease hopes to grow its presence in Asia
Lend Lease Group, an international property firm, is hoping to grow its presence in Asia.According to Lend Lease, 313@somerset, its three-month old mall, has done better than expected, and it is looking for more investment opportunities in Singapore within the next 12 months.Since the...
Continue Reading • 4 Mar 2010
MP Inderjit Singh questions the government on the impact of PRs
During a recent parliamentary session, Mr. Inderjit Singh questioned the government on its liberal immigration policies, which has contributed to the escalating prices of HDB flats.“By bringing in too many people too quickly…the cost of living has gone up rapidly. The clearest...
Continue Reading • 4 Mar 2010
Home loan exit fees in Australia are increasing
Homeowners in Australia who are trying to refinance their mortgage, risk incurring an increasing number of exit fees, said one commentator.Anthony Keane, a finance writer for News Limited, said that fees were introduced by major lenders to discourage borrowers from switching loans.He quoted...
Continue Reading • 3 Mar 2010
No child in Singapore will be left homeless, says Dr. Balakrishnan
According to Community Development, Youth and Sports Minister Dr. Vivian Balakrishnan, no child in Singapore will be left without a home, and officers will intervene to ensure this if a family is in danger of losing their home. This is in response to a question raised in Parliament over the issue...
Continue Reading • 3 Mar 2010
Calls made to review Singapore's housing policies
Though it was not addressed directly in the 2010 budget, many MPs have been expressing concerns about the cost of housing in Singapore.There have been several calls to review Singapore’s housing policies, including the rules that permit private property owners to purchase HDB flats and...
Continue Reading • 3 Mar 2010
HSBC increases its presence in the UK mortgage market
HSBC reported a pre-tax profit amounting to US$7.1 billion for 2009, and its market share of net new mortgage lending increased to 11 percent.HSBC had a new mortgage share of 9.5 percent as at June 2009.The bank’s annual result shows that the pre-tax profit is down by 24 percent, compared...
Continue Reading • 2 Mar 2010
2010 Budget is a transformational Budget, says SM Goh
Senior Minister Goh Chok Tong said this year’s Budget is strategically important as it is a "transformational" Budget, although it may be seen as "unexciting" to some Singaporeans.He also said that the Budget aims to bring the economy to a higher level.Addressing an...
Continue Reading • 2 Mar 2010
Suntec REIT eyes convention centre
Suntec Real Estate Investment Trust (Suntec REIT) has plans to acquire the entire Suntec International Convention & Exhibition Centre. However, this is unlikely to happen until the convention centre has been repositioned to produce a more stable income stream.“Eventually, we hope for...
Continue Reading • 2 Mar 2010