URA gazettes Master Plan 2014
The Master Plan 2014, which guides the physical development of Singapore for the medium term, has been gazetted today. This concludes the year-long review of the Draft Master Plan 2013, which involved consultations with Members of Parliament (MPs), grassroots leaders, professional...
Continue Reading • 6 Jun 2014
CapitaMalls Asia nearing privatisation
CapitaLand has applied to the Singapore Exchange (SGX) to delist CapitaMalls Asia (CMA), as it now holds more than 90 percent of CMA's issued shares.CMA shares will be suspended from trading after the close of the offer on 9 June 2014.Lim Ming Yan, President and Group CEO of CapitaLand Limited,...
Continue Reading • 5 Jun 2014
Colliers appoints Paul Baxter as COO for Asia
Colliers International will welcome Paul Baxter (pictured) as its Chief Operating Officer (COO), Asia as of 2 June 2014. With more than 15 years in the real estate industry, Baxter will focus on operations and strategic initiatives to execute on Colliers’ growth plans for Asia.As the...
Continue Reading • 3 Jun 2014
Savills acquires Studley for US$260m
Savills has completed its acquisition of US commercial real estate services firm Studley Inc in a deal valued US$260 million (S$326.7 million).The combined business will be re-branded as Savills Studley.Jeremy Helsby, CEO of Savills Plc, said: “This deal brings the top US tenant...
Continue Reading • 3 Jun 2014
New study aims to promote walking, cycling in S'pore
Move over drivers. That seems to be one of the takeaways of a new research study which has called for a shift from a motorist-oriented to a people-first approach in tropical cities.Conducted in March by the Urban Land Institute (ULI) and the Centre for Liveable Cities (CLC), together with Danish...
Continue Reading • 3 Jun 2014
New Chestertons brand unveiled
Unveiled in April at the Mandarin Oriental Hyde Park in London, the new Chestertons brand retains the company’s purple colour and features a logo with a unique device on the letter ‘n’. The new branding will be a regular high street fixture from June. Chesterton Global CEO,...
Continue Reading • 2 Jun 2014
Govt projects affected by foreign worker shortage
Over the past two years, HDB has granted 36 projects some form of time extension.In response to a query in Parliament yesterday, the Ministry of National Development (MND) said the reasons for these extensions include changes in design beyond contractors’ control, or exceptionally bad...
Continue Reading • 30 May 2014
Tokyu Livable partners OrangeTee as an anchor investor
Tokyu Livable, one of Japan's largest real estate services firms, has acquired 22.5 percent shares in OrangeTee. The new partnership will enable OrangeTee and Tokyu Livable to tap on each other’s network of investors, expertise and in-depth knowledge of the real estate markets in the region...
Continue Reading • 30 May 2014
980 buildings exempted from property tax
The Inland Revenue Authority of Singapore (IRAS) granted full or partial property tax exemptions to 980 buildings in 2013 from 650 buildings in 2000, according to media reports.Uncollected taxes from these buildings reached around $94 million last year compared to $25 million previously. This...
Continue Reading • 30 May 2014
52,000 flats built in the last three years: PM
In 2011, housing was a big concern for Singaporeans and the government mobilised all its resources to tackle the problem, Prime Minister Lee Hsien Loong said in Parliament yesterday during the debate on the President’s Address. “In the last three years, we have built two...
Continue Reading • 30 May 2014
Singapore, China properties fuel KSH's growth
KSH Holdings Limited’s net profit rose 22.8 percent to a record high of $44.5 million for FY 2014, a 22.8 percent increase from $36.3 million a year before.The Group’s revenue jumped 40.1 percent to $324.5 million from $231.6 million in FY 2013, lifted by higher construction revenue...
Continue Reading • 27 May 2014
Cooling measures have been effective
The curbs imposed by the government from 2009 to 2013 have not only controlled the property bubble, they were also an important complement to monetary policy, said the Monetary Authority of Singapore (MAS) Managing Director Ravi Menon in media reports.However, as they were introduced during a...
Continue Reading • 27 May 2014
Thakral to invest up to A$46.2 mil in Brisbane property project
Singapore-listed Thakral Corporation has inked an agreement with a private Australian developer to be the capital partner for a new mixed-use development in Brisbane, Australia.The move will see Thakral invest up to A$46.2 million for the iconic project, which will be launched for sale in the...
Continue Reading • 27 May 2014
Orchard Road canal to be ready by 2017
In order to prevent flooding in Orchard Road, PUB will start the construction of Stamford Diversion Canal's first phase in Q3 2014. Costing $50.6 million, it will pass through Tanglin and Kim Seng, according to media reports. The project's second phase will run through Grange Road to River...
Continue Reading • 23 May 2014
BCA honours green facilities managers
A slew of winners were recognised for their efforts in green buildings, inclusive design and building quality at the Building and Construction Authority (BCA) Awards 2014 ceremony yesterday.A new award category – Green Facilities Manager of the Year – was introduced to the...
Continue Reading • 23 May 2014
Proportion of foreign buyers rises
The proportion of foreign buyers in the Singapore property market is on the rise following recent price falls, according to data published by CIMB in its Cost of Living survey.The report, published yesterday, said: “Foreigners view Singapore as a good city to own a piece of property, but...
Continue Reading • 23 May 2014
Property player applied to be NMP
Century 21's CEO Ku Swee Yong has applied to be a Nominated Member of Parliament (NMP), according to media reports. Ku, who is also Director of International Property Advisor, said to the media he hopes to use his expertise in real estate to spur discussions on the role of public housing. An NMP...
Continue Reading • 22 May 2014
MND promises better HDB living
In an addenda to the President's Address, the Ministry of National Development (MND) said it will roll out the following initiatives to continue to upgrade and transform public housing estates: Step up Home Improvement Programme (HIP) to cover another one-third, or 100,000 flats, within the next...
Continue Reading • 22 May 2014
Look into risks before buying foreign property: MAS
Last year, $2 billion worth of overseas properties were transacted by real estate agencies in Singapore, an increase from $1.4 billion in 2012, the Monetary Authority of Singapore (MAS) revealed in a response to media queries. Investors are reminded to be aware of the risks associated with...
Continue Reading • 22 May 2014
Woman faces five charges of alleged unlicensed real estate work
Singapore’s Council for Estate Agencies (CEA) has brought charges against Tan Yang Po for allegedly acting as a real estate agent without being licensed by CEA. This is the first prosecution relating to alleged unlicensed estate agency work involving the sale of overseas properties in...
Continue Reading • 22 May 2014