Colliers in Asia announces new key appointments
Colliers International has appointed Terence Tang (pictured) as its new Managing Director of Asia Capital Markets and Investment Services. He will be based in Singapore and Hong Kong, where the most investment funds and institutions across the region are located.Piers Brunner, Chief Executive...
Continue Reading • 25 Jun 2013
RRCs to employ only certified workers for hacking works
With effect from 1 January 2014, the HDB will require Registered Renovation Contractors (RRCs) to employ only trained and certified workers to carry out demolition or hacking works during flat renovations.The Board has tied up with the Building and Construction Academy to introduce a demolition...
Continue Reading • 21 Jun 2013
Keppel Land shines in China
Property developer Keppel Land has sold a total of 1,500 units in China from January to May this year, according to Nomura.850 units were sold in Q1, with 650 of those sold in April and May alone. Sales performance is reported to be strong, compared to the 1,650 units sold for the whole of last...
Continue Reading • 21 Jun 2013
Low-income earners received over S$1b in housing grant
The government has extended over S$1 billion worth of grants to help low-income households acquire their first HDB flat, according to local media.The HDB provides two types of housing grants to citizens earning less and whose needs are considered greater when it comes to acquiring a home. For...
Continue Reading • 20 Jun 2013
OUE acquires US Bank Tower
Singapore property developer Overseas Union Enterprise (OUE) has successfully completed the acquisition of the US Bank Tower for US$367.5 million or around S$459.375 million from Library Square Associates, a unit of US REIT MPG Office Trust.Based on a previous company announcement dated 11 March,...
Continue Reading • 19 Jun 2013
Low-income S'poreans to get two-year rent increase waiver
National Development Minister Khaw Boon Wan said that rental increases will now be waived for two years for incomes that cross the S$800 a month threshold, in order to prevent rises affecting low-income Singaporeans who receive pay increase.In a blog entry posted on Wednesday, Mr Khaw said it was...
Continue Reading • 19 Jun 2013
CDL releases 2013 sustainability report
Property developer City Developments Limited (CDL) has published its sixth sustainability report titled ‘Changing the Landscape’, which highlights updates to corporate governance and policies relating to Anti-Corruption, Fraud and Competition.The report also details CDL’s...
Continue Reading • 19 Jun 2013
Data to be released by govt for business, personal use
In a bid to broaden public awareness, the government will disclose more data to the public for business and personal use.For instance, the Ministry of Manpower (MOM) will unveil a new portal that enables employers compare the performance of their company against industry norms, in terms of wages,...
Continue Reading • 18 Jun 2013
Strong governance needed to build liveable cities
Strong governance and other conditions like promoting a spirit of innovation and experimentation are needed to build liveable cities and solve future urbanisation challenges, according to experts and city leaders who attended the World Cities Summit Mayors Forum at Bilbao, Spain.Co-organised by...
Continue Reading • 18 Jun 2013
MAS censures 20 banks for attempted rate rigging
By Shabnam Muzammil:The Monetary Authority of Singapore (MAS) has punished 20 banks after it found 133 traders attempting to manipulate key interest rates and foreign exchange benchmarks between 2007 and 2011, according to media reports.“Although the number of traders involved represents a...
Continue Reading • 17 Jun 2013
Housing dialogue focuses on elderly
By Nikki De Guzman:Participants at the final session of Our Singapore Conversation on Wednesday believe that the government can do more to help the elderly monetise their flats.According to media reports, some of the 45 participants called for the revision of the current HDB policies to cover...
Continue Reading • 14 Jun 2013
MSF unveils new bidding system for pre-schools
By Shabnam Muzammil:In a bid to keep pre-school education within HDB estates more affordable, the Ministry for Social and Family (MSF) Development has announced a new bidding evaluation process for commercial child care centre operators.Under the revised bidding exercise, bids for HDB sites to be...
Continue Reading • 14 Jun 2013
MAS to warn banks on SIBOR rigging
By Nikki De Guzman:Following an 11-month review on how benchmark interest rates are set, the Monetary Authority of Singapore (MAS) plans to issue a warning to banks as early as today, according to sources.On the same day, the Singapore Foreign Exchange Market Committee (SFEMC), which includes...
Continue Reading • 14 Jun 2013
World city leaders meet in Spain
By Nikki De Guzman:More than 250 city leaders and representatives from urban planning companies from around the world participated in this year’s World Cities Summit (WCS) Mayors Forum held in Bilbao, Spain.Co-organised by Singapore’s Centre for Liveable Cities and Urban Redevelopment...
Continue Reading • 14 Jun 2013
CapitaLand sets goals for Singapore, China
By Shabnam Muzammil:Property developer CapitaLand has revealed its growth strategies for its business in Singapore and China during a presentation at the Nomura Investment Forum Asia.According to reports, the developer’s residential arm in Singapore will participate in more land tenders, as...
Continue Reading • 13 Jun 2013
Singapore is Asia's most competitive city
By Nikki De Guzman:Singapore landed on the third spot among the world’s most competitive cities by 2025, according to a recent report by leading global bank Citigroup (Citi).Titled “Hot Spots 2025: Benchmarking the Future Competitiveness of Cities,” the list assessed and ranked...
Continue Reading • 12 Jun 2013
Singapore Sports Hub to open in April
By Nikki De Guzman:The S$1.33-billion Singapore Sports Hub (pictured) is set to open in 2014, following the completion of the National Stadium’s tallest horizontal beam, which stands at 77.5 metres starting from its playing field.According to Dragages Singapore, the engineering and...
Continue Reading • 11 Jun 2013
App to zap maintenance issues
By Shabnam Muzammil:A new app has been launched that allows residents in 12 town councils to report defects and maintenance issues using their smartphones.“The key thinking is to provide an additional communication tool for residents with smartphones,” said Dr Teo Ho Pin, Coordinating...
Continue Reading • 11 Jun 2013
2 property firms in investor alert list
By Nikki De Guzman:The Monetary Authority of Singapore (MAS) has placed two overseas property companies – Dolphin Capital Asia and Shenton Wealth Holdings – under its Investor Alert List, according to local media reports. The list serves as a reminder to investors that those companies...
Continue Reading • 10 Jun 2013
Curtains down for Queenstown cinema
By Shabnam Muzammil:The iconic Queenstown cinema and Bowling Centre (pictured) which closed in 1999, is set to be demolished to make way for a new residential or commercial development.Built in 1977, the property located along Commonwealth Avenue was zoned for commercial use under the Urban...
Continue Reading • 10 Jun 2013