Design Studio's revenue down, but remains upbeat
Design Studio Furniture Manufacturer Ltd, one of Singapore’s leading premier furniture manufacturers, has posted S$20.2 million in revenue for the third quarter of this year, down from S$30.3 million over the same period last year.It added that revenue for the nine months ended 30 September...
Continue Reading • 15 Nov 2011
BBR clinches S$179m HDB contract
Local construction and specialist engineering firm BBR Holdings has secured a contract from the Housing and Development Board (HDB) to develop 1,386 new homes in Pasir Ris Neighbourhood 5 for S$179 million.Clinched through its subsidiary Singapore Piling & Civil Engineering, the contract...
Continue Reading • 15 Nov 2011
Sim Lian records net profit of S$103m
Property developer Sim Lian Group Ltd announced that its net profit in the first quarter ending 30 September 2011 increased nine times from S$11 million recorded a year ago.The sudden jump in earnings for the three months ended 30 September 2011 was due to higher revenue contributions from its...
Continue Reading • 14 Nov 2011
UK home loans and remortgages dip in Sept
Home loans and remortgages in the UK dipped month-on-month in September, according to the Council of Mortgage Lenders (CML).Loans for home purchases valued at £7.1 billion were lower by two percent in number and down five percent in value in September, when compared to data from August,...
Continue Reading • 14 Nov 2011
Tiong Seng posts S$6.8m profit in Q3
Singapore property developer and construction group Tiong Seng Holdings Limited has posted a net profit attributable to equity holders of S$6.8 million for the third quarter ended 30 September 2011.The group’s revenue surged 41 percent to S$127.3 million in Q3 2011, from S$90.0 million in...
Continue Reading • 14 Nov 2011
CDL's Q3 net profit declines, but plans new condo launch
Singapore property developer City Developments (CDL), along with its venture partners, Hong Realty and Hong Leong Holdings, plans to unveil the first phase of The Palette.Located at Pasir Ris Grove/Pasir Ris Drive 1, the 99-year leasehold condo development is within walking distance to Pasir Ris...
Continue Reading • 11 Nov 2011
Shortlist of South East Asia Property Awards winners revealed
The judging process for Ensign Media’s first-ever South East Asia Property Awards (SEAPAs) 2011 has been completed, with the shortlist of winners in 28 categories, including Best Developer, Best Development and Green Development Awards.Leong Chi Meng, Managing Director at CBRE South East...
Continue Reading • 11 Nov 2011
30-year mortgages in the US fall below 4% again
Average rates on 30-year fixed-rate mortgages in the US dropped below four percent for the second time in history.Following the decrease to an average of 3.94 percent on 30-year fixed mortgages in the week ending 6 October 2011, rates had risen over the past month.According to Freddie Mac’s...
Continue Reading • 11 Nov 2011
PropertyGuru launches Singapore's only dedicated property newspaper
PropertyGuru.com, Asia’s leading property portal, has launched the first and only dedicated property newspaper in Singapore - The PropertyGuru.The PropertyGuru will provide fresh property news, reviews, insights, research and exclusive interviews focused on the Singapore and international...
Continue Reading • 11 Nov 2011
Profit grows threefold for Koh Brothers
Construction and property development firm Koh Brothers Group Ltd has announced that its net profit in the third quarter more than tripled to S$13.1 million, from S$4.2 million over the same period last year.Revenue in the third quarter also climbed 35 percent to S$117.7 million, generated mainly...
Continue Reading • 11 Nov 2011
Govt identifies new SERS site in East Coast
The government has identified three blocks at East Coast Road — Blocks 1, 2 and 3 — to be redeveloped under the Selective En bloc Redevelopment Scheme (SERS).Comprising 82 sold flats that are about 48 years old; the site is the 75th site to benefit from SERS. The...
Continue Reading • 10 Nov 2011
URA: Revealing reserve price not meaningful
The reserve price of a site serves only as a guide and is not necessarily a determinant on whether the government will award the site, said the Urban Redevelopment Authority (URA).In fact, the planning authority has awarded sites for which the highest bid fell below the reserve price, it...
Continue Reading • 10 Nov 2011
SC Global net profit jumps 75% in Q3
Residential property developer SC Global Developments has posted a 75 percent increase in its net profit to S$31.8 million in Q3 2011.This translates to earnings per share of 7.73 cents, from 4.56 cents over the same period last year.The group’s Q3 2011 revenue rose to S$197.4 million, up...
Continue Reading • 10 Nov 2011
Ho Bee posts 16% net profit decline to S$32.6m
Ho Bee Investment, a property developer and investment firm in Singapore, has recorded a 16 percent drop in net profit to S$32.6 million for the third quarter of this year, as its revenue fell 43.4 percent to S$55.95 million.This resulted in a 34 percent year-on-year decline in net profit to...
Continue Reading • 10 Nov 2011
Aussie home loan approvals grow beyond expectations
With an increasing number of first-time buyers entering the market, mortgage approvals in Australia surpassed the forecast of economists in September, its sixth consecutive monthly gain. According to the statistics bureau, the number of loans granted to build or acquire apartments and houses...
Continue Reading • 10 Nov 2011
OUE posts S$19.9m in net profit
Property developer Overseas Union Enterprise (OUE) posted an 84.4 percent decline in net profit to S$19.9 million for the third quarter ended 30 September 2011.The group’s revenue grew 68.7 percent to S$86.4 million in Q3 2011, mainly attributed to higher income generated from its property...
Continue Reading • 9 Nov 2011
Positive outlook for UK buy-to-let market
The latest CHL Mortgage Landlord Survey has confirmed a positive outlook in the UK buy-to-let market.According to the survey, three out of four respondents are confident about the future of the rental market.The figure is slightly higher than it was in summer and closer to the two-out-of-four...
Continue Reading • 9 Nov 2011
KSH Q2 profit up despite construction slowdown
Property firm KSH Holdings Limited has posted a 26.1 percent increase in net profit after tax to S$5.3 million in the second quarter, on the back of S$54.4 million in revenue.“The construction and property environment remains challenging but I am pleased to report that the Group has...
Continue Reading • 8 Nov 2011
Late mortgage payments in US climb up
More homeowners in the US are having difficulty paying their mortgage, with payments delayed by 60 days or more climbing to the highest level in the third quarter since Q4 2009, according to TransUnion.US homeowners who missed at least two payments rose to 6.44 percent, up from 5.82 percent in Q2...
Continue Reading • 8 Nov 2011
Roxy-Pacific's net profit jumps 50%
Roxy-Pacific Holdings Ltd, a homegrown specialty property and hospitality group, has announced strong financial results for the third quarter ended 30 September, with its net profit jumping 50 percent year-on-year from S$8.9 million to S$13.4 million.However, its revenue for the quarter declined...
Continue Reading • 4 Nov 2011