Rowsley Group names new CFO
Property developer Rowsley, a major player in Iskandar Malaysia and owner of RSP Architects Planners & Engineers in Singapore, has appointed Tan Wee Tuck (pictured) as its Group Chief Financial Officer.With effect from 18 November, Tan, who will report to Group Chief Executive Officer Lock...
Continue Reading • 12 Nov 2013
Part of Keppel port terminal to be acquired for MRT line
The government will acquire a portion of land at PSA Corp’s Keppel Terminal to make way for the construction of the sixth stage of the Circle Line, announced the Land Transport Authority (LTA) and Singapore Land Authority (SLA) recently. SLA revealed that it had gazetted the land affected...
Continue Reading • 8 Nov 2013
Hwa Hong buys stake in London property
Singapore-listed property developer Hwa Hong Corporation, through its subsidiary Singapore Warehouse Company, has purchased a stake in a prime London residential property. A 19 percent interest was acquired in property owner GOGC Allen House (GOGCAH) for about S$9.9 million.Through the...
Continue Reading • 8 Nov 2013
S'pore has 5th largest billionaire population in Asia
Home to 28 billionaires, Singapore has Asia’s fifth largest billionaire population and the world’s 18th largest, according to the Wealth-X and UBS Billionaire Census 2013. The city-state is behind China, India, Hong Kong and Japan but is ahead of Taiwan, Indonesia and South Korea....
Continue Reading • 7 Nov 2013
Local Trustee taps into Singapore IPO market
The Trust Company continues to see strong demand for its services across the region following the Initial Public Offer (IPO) of the Viva Industrial Trust in Singapore.Listed on the Singapore Stock Exchange on Monday, The Trust Company serves as the trustee for the newly listed Singapore real...
Continue Reading • 6 Nov 2013
Terminal 4 at Changi Airport to open in 2017
Singaporeans and foreigners can now look forward to a new terminal at the Singapore Changi Airport in 2017 as works began yesterday for the construction of Terminal 4 (T4).The ground breaking ceremony was attended by Transport Minister Lui Tuck Yew.The new terminal (pictured), which will be...
Continue Reading • 6 Nov 2013
S'pore the safest place for expat children: HSBC survey
With one of the world’s lowest crime rates, Singapore has been ranked by expatriate parents as the safest place to raise children abroad, revealed HSBC’s Expat Explorer Survey 2013.Now in its sixth year, the study polled over 7,000 expats across nearly 100 countries from around the...
Continue Reading • 4 Nov 2013
Remaining HDB blocks in Joo Chiat to be demolished
The neighbourhood of Joo Chiat is set to become Singapore’s first all-private-property constituency in view of the upcoming demolition of four remaining HDB blocks under the Selective En-bloc Redevelopment Scheme (SERS), media reports said. Its MP Charles Chong (pictured) said:...
Continue Reading • 31 Oct 2013
CapitaLand's revenue soars to $1.05 billion
Property developer CapitaLand saw its group revenue increase 52.5 percent year-on-year to S$1.05 billion during the quarter ended 30 September 2013, on the back of higher revenue contribution from CapitaLand Singapore, CapitaLand China and CapitaMalls Asia, as well as higher sales from...
Continue Reading • 31 Oct 2013
CapitaMalls Asia records Q3 PATMI of $64.8m
CapitaMalls Asia saw its profit after tax and minority interests (PATMI) rise four percent in Q3 2013 to S$64.8 million from S$62.4 million over the same period last year. Operating PATMI for the quarter stood at S$65.1 million, up 4.4 percent from last year’s S$62.4 million.Notably, PATMI...
Continue Reading • 30 Oct 2013
Singapore still the best place to do business: report
Singapore is once again the best place in the world to do business, a ranking it has held for eight consecutive years, revealed the annual Ease of Doing Business report from the World Bank. Rival Hong Kong came in second, followed by New Zealand, the US and Denmark. Some of the city-state’s...
Continue Reading • 30 Oct 2013
Far East acquires two properties in Australia
Far East Organization has secured conditional contracts to purchase two commercial properties in Australia – the Clocktower Square complex and Harbour Town Centre – with Jones Lang LaSalle as the marketing agent. The move is part of Far East’s expansion and diversification...
Continue Reading • 29 Oct 2013
More hospitals to serve the north by 2020
To serve the needs of a fast-growing population and support new developments in the area, more public hospitals will be built in Singapore's northern region by 2020, Health Minister Gan Kim Yong said.Speaking at yesterday's ground-breaking ceremony for Sengkang General and Community Hospitals...
Continue Reading • 28 Oct 2013
Govt to regulate the daylight reflectance of buildings
Singapore's Building and Construction Authority (BCA) will soon update its building regulations to include reflectivity requirements for all kinds of facade materials, according to National Development Minister Khaw Boon Wan. In a blog post on Thursday, Mr Khaw said that the government has...
Continue Reading • 24 Oct 2013
CRCT's distributable income up
CapitaRetail China Trust (CRCT) recorded a 2.1 percent increase in distributable income to S$17.1 million in Q3 2013 from S$16.7 million over the same period last year.This was due mainly to higher revenue growth from better tenants’ sales and higher rental reversions at CapitaMall...
Continue Reading • 24 Oct 2013
New appointments at CBRE, Rowsley Group
Property consultancy CBRE has appointed Hugh Hamilton (pictured) as Senior Director, Southeast Asia for its Global Corporate Services (GCS) business.An expert on corporate real estate in Asia, Hamilton's responsibilities will include transaction management, occupier consulting, facilities...
Continue Reading • 24 Oct 2013
CCT's Q3 distributable income up 1.6%
CapitaCommercial Trust's (CCT) distributable income increased 1.6 percent to S$58.8 million in the third quarter this year from S$57.9 million in Q3 2012. This is primarily due to lower interest expenses in the quarter and distribution of tax-exempt 1H2013 distributable income from Quill...
Continue Reading • 21 Oct 2013
OUE's proposed commercial REIT to acquire Lippo Plaza
Singapore-listed developer Overseas Union Enterprise (OUE) is looking to include Shanghai’s Lippo Plaza in the initial portfolio of its proposed OUE Commercial Trust.Last month, OUE announced plans to set up a commercial-focused REIT in Singapore, although it did not provide any...
Continue Reading • 18 Oct 2013
Northstar completes acquisition of ERA
Realty Partners Group, a unit of Singapore-based private equity firm Northstar, has completed the acquisition of ERA's regional master franchise rights in Asia Pacific from Hersing Corporation. The deal, approved by the master franchisor Realogy Group, completes the transfer of ownership to...
Continue Reading • 16 Oct 2013
LTA mulls building more underground roads
Singapore’s Land Transport Authority (LTA) is currently studying plans to build subterranean roads, media reports said. The roads will link the new downtown Marina Bay, the central business district and the future southern waterfront district beyond 2030. Aside from traffic moving...
Continue Reading • 16 Oct 2013