Keppel bags CSR & sustainability awards
Keppel Land recently won two major awards for its efforts in environmental protection and sustainability, as well as corporate social responsibility (CSR).At the 7th ASEAN Business Awards held this week in Brunei, the developer was named 'Most Admired ASEAN Enterprise' under the CSR category...
Continue Reading • 23 Aug 2013
8000 to benefit from step-up grant
The ‘Step-Up’ housing grant announced by Prime Minister Lee Hsien Loong will benefit a total of 8,000 homeowners of two-room HDB flats in Singapore, media reports said.Under the financial assistance scheme, low-income families currently living in such units will be provided assistance...
Continue Reading • 23 Aug 2013
GIC in talks for London complex, say reports
US-based private equity firm Blackstone Group is reportedly in talks to sell its stake in London's Broadgate office and retail complex (pictured) to Singapore investment company GIC for ₤1.7 billion (S$3.4 billion), stated media reports.The property is located on a 30-acre site in the city's...
Continue Reading • 22 Aug 2013
Mixed views on PM's housing promise
Although universally praised by experts in the industry, Prime Minister Lee Hsien Loong’s promise to make housing affordable to all working Singaporeans, especially middle-income households, drew mixed reactions from several professionals.In his National Day Rally speech last Sunday, PM Lee...
Continue Reading • 22 Aug 2013
Set income cap for housing grants, say experts
Several consultants believe that the new housing grants announced by Prime Minister Lee Hsien Loong in his recent National Day Rally speech should come with an income ceiling limiting them to only lower-middle income buyers, media reports said.According to Nicholas Mak, Research Head for SLP...
Continue Reading • 21 Aug 2013
Albedo moves into property, buys 762 acres in Iskandar
Singapore-listed Albedo is looking to move into property development after securing a deal to buy 762 acres of land in Iskandar Malaysia. The steel and raw materials trader signed a non-binding framework agreement or memorandum of understanding (MOU) with Temasya Cergas for an...
Continue Reading • 21 Aug 2013
Analysts: New housing grants the right move
The new housing grants announced by Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday are a move in the right direction, consultants said. However, they differ on whether or not these grants will affect the wider market, local media reported. Among the measures was the...
Continue Reading • 20 Aug 2013
S'pore tycoon acquires stake in Australian aged care provider
Singapore-listed investment firm GK Goh Holdings has acquired close to a 50 percent stake in Domain Principal Group, Australia’s third largest residential aged-care provider.The 47.62 percent equity share was sold by two trusts run by AMP Capital for A$136.7 million (S$160 million).The deal...
Continue Reading • 19 Aug 2013
Working families will own homes: PM
The government will continue to address the housing needs of Singaporeans, especially middle-income households.This was the promise made by Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday, whereby it was revealed that the Special CPF Housing Grant (SHG) will be extended...
Continue Reading • 19 Aug 2013
Paya Lebar Air Base to move to Changi
The government will shift Paya Lebar Air Base to Changi East in order to free up 800ha of land for homes, parks, offices and factories, said Prime Minister Lee Hsien Loong during Sunday’s National Day Rally.Aside from providing a land area larger than Bishan or Ang Mo Kio, the relocation of...
Continue Reading • 19 Aug 2013
Mortgage reducing plan valuable: Khaw
National Development Minister Khaw Boon Wan on Friday highlighted the importance of a mortgage reducing insurance (MRI) for HDB flat owners. In his latest blog post, Mr Khaw explained that the insurance can help pay off the outstanding loan on a flat, should anything tragic happen to the primary...
Continue Reading • 16 Aug 2013
Huge profit slump for Far East Orchard
Far East Orchard, a listed subsidiary of Far East Organization, has posted a disappointing second quarter performance with net profit plunging 54.7 percent to S$7.3 million from S$16.1 million previously, media reports said. This despite a 35.2 percent increase in revenue to S$45.6 million during...
Continue Reading • 15 Aug 2013
Hong Fok posts 264% profit surge
Property group Hong Fok Corporation has reported a net profit hike of 264 percent to S$13.5 million in the second quarter of 2013, media reports said. Total revenue also jumped by 135 percent to S$71.1 million. The strong performance was driven by healthy sales of residential units at its...
Continue Reading • 15 Aug 2013
GuocoLand names new Singapore MD
Property developer GuocoLand will soon appoint a new Group Managing Director for Singapore.Margaret Goh (pictured), the current CEO for special projects at CapitaLand, will replace Trina Loh who has been with GuocoLand for the past 14 years. Goh will take charge of Tanjong Pagar Centre - a new...
Continue Reading • 14 Aug 2013
Sustainable development starts at school
In a bid to promote a culture of sustainable development, Singapore’s Building and Construction Authority (BCA) started the BCA Greenovate Challenge – a competition featuring innovative green building solutions and involving secondary students.In his blog post, National Development...
Continue Reading • 14 Aug 2013
Hotel investments boost Banyan Tree's revenue
Resort developer Banyan Tree Holdings has grown its revenue in Q2 2013 on the back of strong contributions from its hotel assets. Revenue from hotel investments increased 17 percent to S$46.2 million in the quarter, boosting total revenue by three percent to S$81.7 million.During the same...
Continue Reading • 14 Aug 2013
Koh Brothers a Singapore Prestige Brand winner
Property group Koh Brothers was today awarded the Singapore Prestige Brand Award under the Heritage Brands category.Established in 2002 by the Association of Small and Medium Enterprises (ASME) and Lianhe Zaobao, the award honours local brands that are developed and managed effectively through...
Continue Reading • 13 Aug 2013
Ho Bee's profit slumps 64% in Q2
Property developer Ho Bee Group’s net profit for the second quarter fell 64 percent to S$26.2 million from a year ago, according to media reports.During the same period, revenue plunged 95.8 percent to S$6.1 million on sluggish new home sales and marginal revenue recognition from previously...
Continue Reading • 13 Aug 2013
Majority of over-borrowers are wealthy: MAS
The finances of households in Singapore are generally in good shape that even those who over-borrowed are unlikely to default on their loans even if interest rates rise, said Lawrence Wong, a director on the board of the Monetary Authority of Singapore (MAS).In Parliament yesterday, Wong...
Continue Reading • 13 Aug 2013
Singapore-based Hyflux to develop Sichuan project
A subsidiary of Hyflux has secured an agreement to develop a project in China’s Sichuan province.The Hejiang Fobao Yulanshan Mountain Wetlands project is expected to become a world-class ecological and environmentally-friendly development comprising residential, recreational, commercial and...
Continue Reading • 13 Aug 2013