Henderson launches global property fund
By Shabnam Muzammil:Henderson Global Investors has launched the Henderson Global Property Income Fund to help investors tap on opportunities in the global property market. In addition to real estate investment trusts (REITs), the fund comprises a portfolio of listed property securities from...
Continue Reading • 12 Apr 2013
$12m Indian Heritage Centre to open in 2015
By Nikki De Guzman:Construction has started on the Indian Heritage Centre (pictured), a four-storey building showcasing the trades and culture of Singapore's early Indian settlers, reported The Straits Times. At an estimated cost of S$12 million, the centre will have a gross floor area of...
Continue Reading • 11 Apr 2013
New law slams deceptive showflats
By Shabnam Muzammil:In a bid to ensure transparency, Parliament recently amended the Housing Developers Act enforcing strict regulations on marketing and information disclosure.With the new laws, developers can no longer portray showflats that look larger than the end product through the use of...
Continue Reading • 9 Apr 2013
57 properties sold at Malaysia Property Show
By Nikki De Guzman:PropertyGuru, Asia’s leading property portal, saw 57 units snapped up during the Malaysia Property Show (MPS) 2013, selling a total of RM49.9 million (S$20.24 million) worth of properties.On its fourth instalment, the two-day property show featured latest properties from...
Continue Reading • 8 Apr 2013
Jackie Chan donates 6 historic houses to Singapore
By Nikki De Guzman:Following ten years of failed preservation talks with Hong Kong officials, action film superstar Jackie Chan donated his last six historic Chinese sandalwood houses to Singapore University of Technology and Design, according to media reports.The houses form part of his...
Continue Reading • 8 Apr 2013
US mortgage rates dip
By Nikki De Guzman:US mortgage rates dipped this week, cutting borrowing costs as the country's residential property market heads into its second year of recovery, reported Bloomberg.Average 30-year fixed loans fell to 3.54 percent this week ended April 4 from 3.57 percent previously, while its...
Continue Reading • 5 Apr 2013
Yoma joint venture to build residential units in Myanmar
By Nikki De Guzman:Singapore-listed Yoma Strategic Holdings through its wholly-owned subsidiary SPA Project Management, has inked a deal with Dragages Singapore - part of Bouygues Construction, to jointly build 1,043 residential units (pictured) in Zone B of Thanlyin Star City in Myanmar.Yoma...
Continue Reading • 4 Apr 2013
KSH nabs $59.9m JTC contract
By Nikki De Guzman:Listed construction firm KSH Holdings, through its wholly-owned subsidiary Kim Seng Heng Engineering Construction (KSHEC), has secured a S$59.9 million contract from Jurong Town Corporation (JTC) for a project at Ayer Rajah Avenue.Under the deal, KSHEC will erect a...
Continue Reading • 3 Apr 2013
DBS unveils first-of-its-kind HDB loan
By Nikki De Guzman:DBS Bank has launched the first-of-its-kind HDB home loan called POSB HDB Loan - a new mortgage option for flat buyers, reported AsiaOne.It offers a floating interest rate capped below the housing board’s concessionary rates for ten years. The HDB concessionary interest...
Continue Reading • 2 Apr 2013
Foreign firms eyeing high speed rail link
By Farah Wahida:Mainland Chinese and Hong Kong companies have expressed interest to participate in the proposed high-speed railway (HSR) project between Singapore and Kuala Lumpur.According to Mohamad Nur Ismal Kamal, CEO of Malaysia’s Land Public Transport Commission (SPAD), the train...
Continue Reading • 2 Apr 2013
CapitaLand restructures Surbana's businesses
By Nikki De Guzman:Property firm CapitaLand has announced the restructuring of its 40 percent stake in Surbana Corporation's residential development and consultancy businesses. Puah Tze Shyang will remain as CEO of the residential development business which will be integrated into CapitaLand...
Continue Reading • 2 Apr 2013
S'pore to be more age, disabled-friendly
By Shabnam Muzammil:To make Singapore more age-friendly and improve facilities for the elderly as well as the disabled, the Building and Construction Authority (BCA) launched yesterday a month-long public consultation on proposed amendments to the accessibility code which sets minimum design...
Continue Reading • 2 Apr 2013
GIC lends helping hand to Indian developers
By Shabnam Muzammil:The Government of Singapore Investment Corporation (GIC) has partnered with Kohlberg Kravis Roberts, a leading global investment firm, to establish a non-banking financial company (NBFC) to lend funds to Indian developers.The real estate-focused NBFC will be the first of its...
Continue Reading • 27 Mar 2013
Allow younger singles to buy flats, says billionaire
By Nikki De Guzman:Billionaire Bhupendra Kumar Modi (pictured) has urged Singapore's government to lower its 35-year-old ruling for singles to buy HDB flats, highlighting that it affects the country's birth rate, Bloomberg reported.Modi, who became a Singapore citizen in 2012, said lowering the...
Continue Reading • 27 Mar 2013
Agents' anger at 'we don't pay GST' claim
By Andrew Batt: A growing number of Singapore property agents are being forced to absorb the GST on their rental fees because an increasing number of landlords are refusing to pay. One agent who spoke to PropertyGuru said: “I'm sick of being ripped off by these people who refuse to pay...
Continue Reading • 27 Mar 2013
Govt looking to regulate shoebox shops
By Romesh Navaratnarajah:To ensure Singaporeans continue to have an enjoyable shopping experience, the Urban Redevelopment Authority (URA) has come up with a set of guidelines which regulates the minimum size of retail units in shopping malls and minimum corridor width of all new projects with...
Continue Reading • 26 Mar 2013
Lian Beng wins $220m condo contract
By Shabnam Muzammil:Construction company Lian Beng Group has secured a S$220 million contract to build Bartley Ridge (pictured). “The successful tender for a project at a value of S$220 million boosted our order book to a robust S$884 million as at 25 March 2013,” said its Chairman...
Continue Reading • 26 Mar 2013
BCA to scrap using British building code
By Romesh Navaratnarajah:Beginning April 2015, the Building and Construction Authority (BCA) will require industry professionals to submit their structural layout plans using the modern Eurocodes instead of the British standards. Until then, BCA will allow submissions through both codes....
Continue Reading • 26 Mar 2013
PropertyGuru wins big at Mob-Ex Awards
By Nikki De Guzman:PropertyGuru, Asia’s leading property portal, won awards for Best Mobile App by Media Owner and Best Informative Use of Mobile at Marketing Magazine’s first Mob-Ex Awards in Singapore last Thursday. The website also was runner-up for Best Mobile Advertising...
Continue Reading • 26 Mar 2013
World landmarks will go dark to honour earth hour
By Nikki De Guzman:Major landmarks and iconic buildings in over 150 countries and territories around the world will turn off their lights for Earth Hour 2013. Organised by the World Wide Fund for Nature (WWF), the event will take place this Saturday (23 March) at 8:30pm. This year's...
Continue Reading • 21 Mar 2013