DBS product guards against interest rates rise
To help safeguard home buyers against rising interest rates and higher monthly instalments, DBS Bank has unveiled a first-of-its-kind mortgage insurance called DBS Interest Guard. The product is an add-on for new and existing mortgages pegged at the Singapore Interbank Rate (SIBOR), which follows...
Continue Reading • 31 Jul 2013
Mega construction event kicks off
As part of a series of events held during the Singapore Construction Productivity Week, the inaugural Architecture and Built Environment 2013 opened its doors today at the Singapore Expo Hall 4. Catering to the construction industry, the tradeshow runs till 2 August and showcases 180 exhibitors...
Continue Reading • 31 Jul 2013
New construction standards pushed to Sept
After consultations with industry players, Singapore's Building and Construction Authority (BCA) has pushed back the implementation of new construction standards to September, previously scheduled for this month.The higher standards will be implemented on 1 September, BCA said. Although its...
Continue Reading • 30 Jul 2013
Soilbuild to build luxury condo in Yangon
Singapore-based developer Soilbuild Group Holdings has signed a joint venture agreement to develop a luxury condominium in Yangon, media reports said.This is believed to be the company’s first overseas property project and it plans to sell apartments at the 250-unit condominium at US$300...
Continue Reading • 30 Jul 2013
S'pore targets hike in construction productivity
Assuming the volume of construction work remains unchanged, Singapore’s construction sector could see a 20 to 30 percent reduction in its workforce by 2020 if there is a similar increase in productivity, noted the Building and Construction Authority (BCA).This means it is a good time for...
Continue Reading • 29 Jul 2013
CapitaLand posts strong first-half income
Property giant CapitaLand reported a 10.1 percent year-on-year gain in its Profit After Tax and Minority Interests (PATMI) to S$571.3 million in 1H2013, supported by higher operating profits.The first-half PATMI could have increased 15.4 percent to S$599 million, if the one-time losses of S$27.7...
Continue Reading • 26 Jul 2013
Renamed Suntec Real Estate sets sights on Asia
Property consultancy Chesterton Suntec International has officially been re-branded as Suntec Real Estate Consultants, with big plans to tap on Asia’s booming property markets.“With the transition of Chesterton Suntec International to Suntec Real Estate Consultants, we hope to...
Continue Reading • 25 Jul 2013
Keppel sells stake in Jakarta township for $290.5m
Singapore developer Keppel Land is selling its 51 percent stake in Jakarta Garden City (pictured) to its joint venture partner PT Modernland Realty for S$290.5 million.To be completed in the fourth quarter of this year, the sale would yield Keppel Land around S$186.0 million in net proceeds....
Continue Reading • 25 Jul 2013
Singapore's mounting household debt 'worrying'
Singapore's high property prices and increasing household debt pose a significant risk to its financial system, according to the Monetary Authority of Singapore (MAS).“The combination of low interest rates, growing leverage and surging property prices poses significant risks to financial...
Continue Reading • 24 Jul 2013
Singapore is 5th most expensive city for expats: study
Singapore is the fifth most expensive city for expatriates, according to a new survey by global consulting firm, Mercer.Covering 214 cities across five continents, Mercer's 2013 Cost of Living Survey compares costs of over 200 items in each location, including housing, food, clothing,...
Continue Reading • 24 Jul 2013
Singapore to feel pinch of China's fall
Singapore will not be spared from the effects of a slowdown in China's economy, according to DBS.“China has presented both enormous opportunities as well as challenges for the island state over the last few decades. While Singapore has benefited greatly from a strategy of engagement with...
Continue Reading • 23 Jul 2013
PropertyGuru raises over $30,000 with charity head shave
PropertyGuru, Asia’s leading property portal, raised over S$30,000 in donations for the Children’s Cancer Foundation at a charity event on 18 July.Hair for Hope 2013 saw 40 people including company staff, real estate agents and some members of the public, shave their heads for...
Continue Reading • 23 Jul 2013
New booklet tackles gracious living in private estates
The People's Association (PA) has unveiled a new booklet that highlights the problems faced by residents of private housing estates.The guide took two years to publish and is titled “My Neighbours, My Friends - Gracious Living in the Private Estates”, and is aimed at helping residents...
Continue Reading • 22 Jul 2013
Property agency goes on hiring spree
Competition among real estate agencies in Singapore is set to heat up with boutique firm Ripton Realty looking to expand its small team of agents to focus on Singapore's lucrative commercial property market, and in particular industrial properties. The agency is on the lookout for...
Continue Reading • 22 Jul 2013
Nation closer to becoming city for all ages
The City for All Ages project, which aims to make housing estates more liveable for Singapore's golden generation, has been extended to seven more constituencies, media reports said.Among them, Choa Chu Kang was the first to get an allocation of S$80,000 under the scheme. The government held a...
Continue Reading • 22 Jul 2013
S'pore-based travelmob acquired by HomeAway
US-based online vacation marketplace HomeAway has acquired a controlling interest in travelmob, a Singapore-based company that owns and operates travelmob.com, a social stay marketplace for rental accommodation.Although the company declined to divulge financial details of the deal, it revealed...
Continue Reading • 19 Jul 2013
Oxley buys stake in Chinese firm
Singapore-listed developer Oxley Holdings will acquire a 10 percent stake in Chinese firm GD Capital for 35.71 million yuan (S$7.3 million). This is in line with the company’s plans to expand within the development zone of Anhui province.Oxley signed a sale and purchase agreement with GD...
Continue Reading • 19 Jul 2013
Keppel first half profit drops
Lower property earnings contributed to a drop in Keppel Land's first half net profits while earnings from overseas projects grew almost 80 percent on last year for the property company. Keppel Land posted a net profit of S$192.1 million in 1H2013, down 18.8percent from the S$236.6 million...
Continue Reading • 18 Jul 2013
Singapore, Columbia sign investment guarantee deal
Agreement (IGA) that will provide a legal framework for investment between the two countries, according to media reports.“With this IGA, Singapore companies can further explore new business and investment opportunities in Colombia, especially in sectors such as oil and gas, infocomms...
Continue Reading • 18 Jul 2013
Investor confidence reaches two-year high
INVESTOR confidence in Singapore reached a two-year high between May and June, before the US Federal Reserve announced it would curtail its bond-buying programme by year-end.The JP Morgan Asset Management (JPMAM) report showed confidence reached 122 points between May and June this year, up from...
Continue Reading • 18 Jul 2013