S'pore-based AIM sets up Malaysia property unit
In line with its business diversification efforts in Southeast Asia, Singapore-based Advanced Integrated Manufacturing Corp (AIM) has unveiled a new property unit in Malaysia called Vincente Property.The firm is looking to buy a vacant bungalow plot and three condominium units in Penang for...
Continue Reading • 8 Jul 2013
Home loan measures already taking effect: Tharman
The government’s latest home loan measures have had some effect in stabilising the market, noted Deputy Prime Minister and Minister of Finance Tharman Shanmugaratnam (pictured).Speaking at the Jurong Lake Run yesterday, Mr Tharman said the Monetary Authority of Singapore's (MAS) new Total...
Continue Reading • 8 Jul 2013
CapitaLand sells assets in London
Property giant CapitaLand recently announced it has sold three mixed-use developments in London for £46.9 million (S$89.6 million) in cash and the discharge of about £175.3 million (S$ 334.76 million) in debt.Under joint ownership with Hotel Properties and Genting Singapore, the...
Continue Reading • 8 Jul 2013
Singaporeans among fastest to get rich
More than half (51 percent) of high-net-worth individuals (HNWIs) in Singapore became rich in less than 10 years, making them the world's fastest group to accumulate wealth, according to a report from Barclays. Singapore also had the highest percentage of respondents (at 14 percent) who...
Continue Reading • 5 Jul 2013
New rules to seriously affect holders of multiple mortgages
The latest mortgage rules introduced by the Monetary Authority of Singapore (MAS) will significantly affect multiple property owners and the mid-tier private housing segment in the Rest of Central Region (RCR), according to Knight Frank.“Investors who have existing property loans and have...
Continue Reading • 4 Jul 2013
Property craze propels S'pore debt level
As a result of Singapore’s love affair with property, debt levels have soared to 75 percent of its GDP from just 38 percent in 2000. This level is high compared to other countries in the region, according to a Standard Chartered report.The study which covered 12 Asian countries revealed...
Continue Reading • 3 Jul 2013
Further policy tightening expected: Nomura
The Monetary Authority of Singapore's (MAS) Total Debt Servicing Ratio (TDSR) threshold of 60 percent is only the beginning as further policy-tightening is expected soon, said research agency Nomura.According to the firm, while the latest measures are expected to have little effect, the slew of...
Continue Reading • 3 Jul 2013
Temasek to invest in India property fund
Investment company Temasek Holdings, owned by the Government of Singapore Investment Corporation (GIC), has committed to invest in a US$500 million (S$635.6 million) property fund run by India's HDFC Property Fund.According to media reports, Temasek, together with Oman's State General Reserve...
Continue Reading • 3 Jul 2013
F&N to spin off its property arm
Singapore-listed conglomerate Fraser & Neave (F&N) is looking to spin off its property arm from its other divisions to further unlock shareholder value, according to media reports. The spin-off “may involve a segregation of its property-related businesses from its non-property...
Continue Reading • 2 Jul 2013
Asian Tigers spur building boom
Construction activity around the world will soar by US$6.3 trillion (S$7.97 trillion) in 2025, with the growth explosion boosted by the new Asian Tigers comprising Indonesia, Vietnam and the Philippines, according to the Global Construction 2025 report.Sponsored by 24 major companies, the report...
Continue Reading • 2 Jul 2013
Impact of new housing loan measures to be limited
The impact of the government’s latest home loan measures is expected to be small as the average Total Debt Servicing Ratio (TDSR) of banks here ranges from 40 to 50 percent, according to Maybank Kim Eng. “As such, we do not think that there will be a significant impact to...
Continue Reading • 2 Jul 2013
S'pore the 8th most innovative country in the world
Singapore has fallen five spots to eighth place, trailing behind Hong Kong in sixth spot on the Global Innovation Index 2013. Both countries are the only places from Asia that made it to the top 10.In the survey of 142 global economies conducted by business school Insead, Switzerland emerged top...
Continue Reading • 2 Jul 2013
CapitaLand acquires China fund
Property developer CapitaLand through its wholly-owned unit CVH China Investment (CVHCI) has purchased a remaining 41.4 percent stake in CapitaLand China Value Housing Fund (CCVHF) from three external investors for US$73.83 million (S$93 million).The price was agreed based on a willing-buyer and...
Continue Reading • 1 Jul 2013
New cooling measures hit property market
Singapore’s central bank last Friday announced a new round of measures targeted at housing loans to maintain a stable and sustainable property market.The latest MAS rules affect all types of properties that require a loan from banks. Essentially, the total debt servicing ratio (TDSR) will...
Continue Reading • 1 Jul 2013
Savills expands further into Indochina
Savills has grown its Southeast Asia operations, following the establishment of a new Indochina and Myanmar consulting practice to be led by Savills Vietnam.“As part of our vision to penetrate into one of the largest emerging markets in Asia, we have established a research and consulting...
Continue Reading • 1 Jul 2013
Household debt soars due to high home prices
The rapid rise in Singapore’s household debt, coupled with high residential prices, could make the city-state vulnerable to asset deflation, a reduction in income and a rise in unemployment if there is a slowdown in global economic markets, according to UBS Wealth...
Continue Reading • 27 Jun 2013
Cushman buys Project Solution Group
Cushman & Wakefield (C&W), the world’s biggest privately-held service firm for commercial properties, has agreed to acquire Singapore-based project management specialist Project Solution Group (PSG).The acquisition is in line with C&W’s plan to strengthen its presence in...
Continue Reading • 26 Jun 2013
Sites on GLS confirmed list to offer fewer units
The land supply in the pipeline under the GLS Programme for 2H2013 will provide for the development of 14,155 residential units, which is roughly the same as the number of units made available under the 1H2013 GLS Programme with a total of 14,035, according to Collier’s Director of Research...
Continue Reading • 26 Jun 2013
Govt releases 31 sites under GLS Programme
The government has released 31 sites under its 2H2013 Government Land Sales (GLS) Programme, 11 of which are in the confirmed list while the remaining 20 are on the reserve list.The confirmed list sites comprise 10 private residential sites, including five executive condominium (EC) sites, and a...
Continue Reading • 25 Jun 2013
Indonesia says sorry for haze in Malaysia, Singapore
The Indonesian government has apologised for the haze in Malaysia and Singapore, caused by forest and peatland fires in Sumatra.President Susilo Bambang Yudhoyono yesterday said: “As the president, I apologise for what has happened and hope for understanding from our friends in Singapore...
Continue Reading • 25 Jun 2013