Asian property funds to expand to $200 billion in coming years
Asia's property fund size will expand by over 50 percent to $200 billion in the next two to three years. This is fueled by demand from institutional investors from several countries including China, industry executives said.Sovereign wealth funds, pension funds, and wealthy individuals would...
Continue Reading • 9 Dec 2009
Savills set to increase its Asian business
Savills Plc, the UK’s largest real estate broker, aims to boost its business in Asia to 50 percent of its worldwide revenue, which will primarily be driven by China’s economic growth, Savill’s CEO Jeremy Helsby said.China’s prospering economy will keep property demand...
Continue Reading • 8 Dec 2009
Pacific Star completes $549m refinancing deal for Capital Square
Pacific Star Group, a Singapore-based real estate investment house, announced yesterday the successful completion of the refinancing programme for Capital Square, an office building in Raffles Place.The facility, which is worth $549 million, includes $320 million of senior notes. It is the...
Continue Reading • 8 Dec 2009
AMP focuses on regaining the trust of MI-REIT holders
AMP, the new co-sponsor of MacarthurCook Industrial REIT (MI-REIT) has expressed its plan to regain the trust of unitholders before it embarks on new acquisitions, possibly industrial properties in Japan and Singapore.According to Simon Vinson, head of Asian property and new business initiatives...
Continue Reading • 3 Dec 2009
Singapore is the 9th most expensive Asian city
Singapore now belongs to the list of top 10 most expensive Asian cities for expats, due to the strengthening Singapore dollar.A survey by ECA International, a human resource consultancy firm, showed that Singapore is now the ninth most expensive city in the region.Last year, the city-state...
Continue Reading • 3 Dec 2009
CapitaLand collects payment of RiverGate’s sold units
CapitaLand, a property developer, has collected payment for 98 percent of RiverGate apartments’ 542 units, which had been sold since March 2009, when it received its Temporary Occupation Permit.The deferred payment and progress payment receivables for the sold units were securitized through...
Continue Reading • 2 Dec 2009
Property sales in Asian real estate markets fall massively
The property investment market in Asia suffered a massive fall in Q1 2009, with Singapore, Japan and Hong Kong suffering the most.The region went through an 83 percent quarterly decline in sales, according to property consultants CB Richard Ellis’ latest research.The industrial property...
Continue Reading • 2 Dec 2009
CDL open to increase shares in South Beach
City Developments Ltd (CDL) said it is open to explore possibilities in raising its stakes in the South Beach project, wherein Dubai World also has a share.“South Beach is an iconic development and one which has excellent potential,” said a CDL spokesperson.She noted that the joint...
Continue Reading • 1 Dec 2009
MAS closely monitoring Dubai World and UAE Developments
The Monetary Authority of Singapore (MAS) said on Monday that it has been closely monitoring the developments in the United Arab Emirates and Dubai World, and their impact on Singapore's financial sector. The total gross exposure of Singapore's banking sector to the UAE is way under one percent...
Continue Reading • 1 Dec 2009
Reality check for REIT investors
After a difficult year, investors in real estate investment trusts (REITs) seemed to have swallowed a dose of reality on what they can and cannot deliver. It was a lesson learned the hard way. Once known for offering high capital earnings, the REITs sector has now lost its shine, as...
Continue Reading • 30 Nov 2009
Latest financial review of HLH published
HLH Group Limited (HLH) is a real estate property and investment developer, which engages in research, biotechnology, agriculture and development activities. The company provides civil engineering and general building services across its residential, commercial and industrial property development...
Continue Reading • 30 Nov 2009
The issue of dollars and home loans
Property buyers were recently advised to be careful in their anticipation to fulfill their Singapore dream of purchasing a private unit.Earlier this month, the Monetary Authority of Singapore (MAS) provided two scenarios wherein the private property sector could likely falter. Lately, after...
Continue Reading • 26 Nov 2009
New measures for real estate industry won’t affect property prices
Industry players said that new measures by the government to improve the standards of the real estate industry will not affect the prices of homes. The government has just finished collecting data and gathering suggestions for new regulatory guidelines for the industry. The new measures will...
Continue Reading • 26 Nov 2009
PropNex supports public feedback to raise professionalism standards
The Ministry of National Development released today its findings on public feedback for a more regulated property industry, and PropNex Realty, one of Singapore’s leading property agencies, supports most of the feedback given.“Indeed, most of the Government’s findings were not...
Continue Reading • 25 Nov 2009
MI-REIT gets its way after disagreements
MacArthurCook Industrial REIT (MI-REIT) employed security guards to keep the peace at a meeting of unit holders yesterday which was marked with strong cynicism. However, no violence broke out other than the usual dash for the buffet line.Several participants at the meeting agreed to...
Continue Reading • 24 Nov 2009
Deals and mergers
The troubled mortgage firms in Dubai, Amlak and Tamweel, would welcome additional injection of government funds, as they hope to complete an expected merger by March, said the chairman of Tamweel.The largest telecoms company, Deutsche Telekom, is in search for a partner for its mobile...
Continue Reading • 23 Nov 2009
Worldwide strategy in the midst of turbulence
Several years ago, before the eruption of the sub-prime crisis, global strategy and globalisation became common buzzwords to managers. Some disputed that these strategies were beneficial for them, while a few aspired to augment their firms’ international coverage and scope, trying to become...
Continue Reading • 20 Nov 2009
Inflation rate to increase in 2010
The inflation rate is expected to increase next year as the Housing Development Board (HDB) increased its property values.Singapore revised its consumer price index (CPI) inflation forecast from 1 to 2 percent to 2.5 and 3.5 percent.This is in connection with the recent revision of the...
Continue Reading • 20 Nov 2009
Singapore recession is over
Singapore declared yesterday that its recession was over, as its economy grew for the second straight quarter in the three months to September.Official data showed that Singapore’s gross domestic product (GDP) increased 14.2 percent in the third quarter for its quarter-on-quarter...
Continue Reading • 20 Nov 2009
URA rules for building conservation
Since the start of URA’s programme in the 80s, over 6,500 buildings have already been marked for conservation. Conserved buildings include those at the areas of four main districts. Aside from general rules, there are also specific restoration guidelines added to each building and area...
Continue Reading • 19 Nov 2009