Singapore GDP picks up in Q3
The Singapore economy surpassed market expectations in Q3 this year as GDP grew 5.1 percent year-on-year, revealed advance estimates by the Ministry of Trade and Industry (MTI).The figure beats the median forecast growth of 3.8 percent by economists. It also implies that the economy contracted at...
Continue Reading • 14 Oct 2013
E&O opens sales gallery in Singapore
Malaysian developer Eastern & Oriental Berhad (E&O) has opened its new 4,118 sq ft sales gallery at One Raffles Link in the central business district. Eric Chan, Deputy Managing Director of E&O, said: “The opening of the E&O Property Gallery is a vital platform in our...
Continue Reading • 11 Oct 2013
New role for JLL's Martin
Jordi Martin (pictured) will take up the role of Global Director and CEO of Jones Lang LaSalle’s Corporate Solutions business in Asia Pacific, effective from Q1 2014. Currently Managing Director of Integrated Facilities Management (IFM) for Jones Lang LaSalle in Asia Pacific, Martin...
Continue Reading • 7 Oct 2013
PropertyGuru Group reports 53% y-o-y revenue growth
PropertyGuru Group, Asia’s leading property portal group, saw revenue growth of 53 percent year-on-year during the first six months of 2013, with its Singapore business demonstrating the best growth performance of 40 percent.Following a similar trend, visits and property listings on...
Continue Reading • 7 Oct 2013
5 projects awarded for conservation excellence
The Urban Redevelopment Authority (URA) on Thursday announced the five winners of the URA Architectural Heritage Awards. Recognised for their exceptional work in heritage building conservation and restoration, the winning projects are: 1. 30 Mohamed Sultan Road (Hong San See...
Continue Reading • 4 Oct 2013
Agents rush to meet training deadline
More than 5,000 current licensed Singapore real estate agents - more than 17 percent of the total registered agents - had failed to complete their four hours of mandatory professional development training as of mid-September.Part of the licensing requirements, stipulated and governed by the...
Continue Reading • 3 Oct 2013
Impact of US shutdown limited, say analysts
Analysts and policy makers remain confident that the global economy will withstand the first US government shutdown in 17 years, said media reports. According to Tomo Kinoshita, chief economist at Nomura Holdings in Tokyo, a one week shutdown of some government services will see an impact of less...
Continue Reading • 2 Oct 2013
Asia Pac to become largest wealth market by 2014: report
The population and wealth of high net worth individuals (HNWIs) in Asia Pacific grew at double and triple the rates of HNWIs in the rest of the world over the period of 2007 to 2012. This according to the 2013 Asia Pacific Wealth Report by RBC Wealth Management and partner Capgemini. Last year...
Continue Reading • 26 Sept 2013
CEA aware of property investment seminars
Property experts’ move to lure cautious buyers into property investment seminars with claims knowing formulas of acquiring homes with no cash outlay owning multiple properties, have raised concerns among some members of the industry, media reports revealed.For instance, PropNex Realty chief...
Continue Reading • 24 Sept 2013
Albedo strikes $774m deal to acquire Malaysian land
Singapore-based steel trading company Albedo has agreed to a S$774 million reverse takeover (RTO) with a company controlled by Malaysian tycoon Danny Tan that will likely transform Albedo into a major property developer in Iskandar Malaysia. Under the conditional sale and purchase agreement,...
Continue Reading • 23 Sept 2013
S'pore NODX down 6.2%, economy may slip
Singapore’s non-oil domestic exports (NODX) fell unexpectedly in August compared to the same period last year, despite economists predicting a growth of 2.4 percent.This means that the country’s economy could be heading for a decline in the current quarter.According to IE Singapore,...
Continue Reading • 18 Sept 2013
Govt to look into ownership rights of underground space
With urban planners looking to develop underground space more extensively, the Law Ministry will have to study similar experiences of other countries with respect to ownership rights. Under the current law, ownership of underground space belongs to the owner of surface land “to a...
Continue Reading • 17 Sept 2013
Cooling measures needed to avoid major price correction: MND
The government’s recent property cooling measures are relevant and necessary to avoid a major price correction once economic conditions change, explained the Ministry of National Development (MND). It noted that market activity continues to be strong despite the slowdown in housing demand...
Continue Reading • 17 Sept 2013
Asia Pacific's growth prospects weak: report
The prospects for growth in Asia Pacific weakened in the first half of 2013, even though its economy outpaced other parts of the world, revealed a Knight Frank report.There are concerns that growth could drop further this year, after China’s expansion rate fell 7.5 percent year-on-year in...
Continue Reading • 13 Sept 2013
MAS' new credit rules to curb household debt
The Monetary Authority of Singapore (MAS) has introduced new measures aimed at limiting household debt and improving lending practices.The new rule will see an individual’s loanable amount through credit cards and unsecured credit lines capped at 12 times that person’s monthly income....
Continue Reading • 13 Sept 2013
Push for green building solutions: DPM Teo
Singapore Green Building Week 2013 (SGBW) kicked off yesterday at Marina Bay Sands. This year's programme brings together two of the industry's most prestigious events - the International Green Building Conference (IGBC) and BEX Asia.Into its fifth year, SGBW managed to attract more than 10,000...
Continue Reading • 12 Sept 2013
Broadway Malyan designing new 'health city'
The Singapore-based team of architect Broadway Malyan has been tasked to design Health City Novena, a new mega healthcare development to be built around Tan Tock Seng Hospital.The plan is to link existing medical facilities and the Lee Kong Chian School of Medicine to create the largest...
Continue Reading • 10 Sept 2013
Ho Bee taken to court for condo defects
Property developer Ho Bee Investment is being sued for failure to fix termite-infested pool decking as well as flooded staircases at the 249-unit The Coast in Sentosa Cove, according to media reports. The case was filed in Singapore's High Court by the managers of the property on behalf of 108...
Continue Reading • 10 Sept 2013
CDL celebrates 50 years in business
Home-grown developer CDL celebrated its 50th anniversary on Friday evening with a gala dinner at W Singapore – Sentosa Cove, which was attended by over 400 local and international dignitaries including Deputy Prime Minister Teo Chee Hean. The event showcased CDL’s transformation over...
Continue Reading • 9 Sept 2013
S'pore developer wins property 'Oscars'
Property group UOL has clinched two awards at the FIABCI Singapore Property Awards 2013. Both the 367-room PARKROYAL on Pickering and Double Bay Residences comprising 646 condo units won in the Hotel and Residential (High-Rise) categories respectively.Considered the Oscars of the real estate...
Continue Reading • 6 Sept 2013