Koon in JV to develop Pasir Ris EC
Koon Holdings Ltd, one of Singapore’s leading construction specialists, has announced that its wholly-owned subsidiary, GPS Alliance Development & Investment Ltd, has entered into a joint venture (JV) to develop an Executive Condominium (EC) project at Pasir Ris Drive 3 / Pasir Ris...
Continue Reading • 18 Oct 2011
Tiong Seng set to build Waterway Terraces II
Mainboard-listed construction group Tiong Seng Holdings Ltd has clinched a S$147 million contract from the Housing and Development Board (HDB) for the construction of the 804-unit Waterway Terraces II in Punggol West.“We are extremely happy to have the opportunity to work with HDB...
Continue Reading • 18 Oct 2011
MPs call for review of housing policies
Singapore’s housing policies were a hot topic during the parliamentary debate on the President's speech yesterday, with several Members of Parliament (MPs) urging a review of the pricing formula for HDB flats.“CPF grants are helpful but it seems like we are just taking money from one...
Continue Reading • 18 Oct 2011
JLL acquires DST, plans to increase SE Asia presence
Jones Lang LaSalle (JLL) has acquired DST International Property Services as part of a greater plan to increase its residential footprint in Southeast Asia.Established in 1998, DST is a Singapore-based property services company that globally markets refurbished and new residential property, with...
Continue Reading • 18 Oct 2011
Aussies warned to be careful with home loans
Australians planning to acquire new property have been advised to look for home loans that best suit their individual financial situation.Mortgage Choice noted that there are various types of loans to consider, and how appropriate they are for each individual depends on several factors, such as...
Continue Reading • 18 Oct 2011
SC Global still on top
SC Global, one of Singapore’s leading luxury property developers, continues to achieve record-breaking selling prices, effectively fetching a premium for its projects, according to a report by Singapore Business Review.Singapore’s independent stockbroking house Kim Eng revealed that...
Continue Reading • 17 Oct 2011
2 CapitaLand projects win design awards
Two CapitaLand projects, The Seafront on Meyer and RiverGate, have won accolades at the Singapore Institute of Landscape Architects (SILA) Professional Design Awards 2011, which recognises and celebrates outstanding work in landscape architecture.“We are delighted that CapitaLand projects...
Continue Reading • 17 Oct 2011
China bank raises mortgage rates
The Beijing branches of China Construction Bank Corp have implemented different policies for mortgage lending rates and raised interest rates for first-time home buyers, according to a report by Xinhua News Agency.The report said that mortgage rates by China’s largest mortgage lender by...
Continue Reading • 17 Oct 2011
Keppel Land wins big for sustainability
Property developer Keppel Land has won a number of awards for its sustainability efforts.Most recently, the company was recognised as sole winner of the Singapore Awards for Sustainability Reporting (SASR) 2011 by the Association of Chartered Certified Accountants (ACCA).The award recognises...
Continue Reading • 14 Oct 2011
S'pore economy expands 5.9%, avoids recession
The Singapore economy grew 5.9 percent in the third quarter, while GDP rose 1.3 percent on a seasonally-adjusted quarter-on-quarter annualised basis, according to advance estimates released by the Ministry of Trade and Industry (MTI).The country’s GDP growth implies that its economy has...
Continue Reading • 14 Oct 2011
China Yuanbang acquires mainland property firm
China Yuanbang Property Holdings, through its subsidiary Guangdong Yuanbang Real Estate Development Co, plans to acquire a majority stake in a mainland property developer for up to 222 million yuan (S$44.5 million).Guangdong Yuanbang Real Estate Development Co will acquire main shareholder Tao...
Continue Reading • 14 Oct 2011
SE Asia's capital markets look good compared to rest of world
Despite subdued sentiment due to erratic global financial markets, the outlook for capital markets in Southeast Asia remains positive, said a senior banker from Credit Suisse.“Southeast Asia has the best position, structurally, relative to the rest of the world,” said Helman Sitohang,...
Continue Reading • 14 Oct 2011
US agency looking to boost mortgage refinancing
The Federal Housing Finance Agency (FHFA) is expected to lay out plans to boost mortgage refinancing in the US. However, many experts disagree on how it will affect the ailing economy.The Obama administration is keen on improving the refinancing market, with the current low interest rates serving...
Continue Reading • 14 Oct 2011
Accor could manage hotel at former Ogilvy Centre
Hotel manager Accor will likely oversee the new hotel at the former Ogilvy Centre conservation building opposite Lau Pa Sat, according to The Business Times.Located at the junction of Robinson Road and Boon Tat Street, Ogilvy Centre will be redeveloped as a hotel by Royal Group Holdings, with...
Continue Reading • 14 Oct 2011
Most S'pore borrowers still choosing Sibor
According to a recent article on PropertyGuru (Fixed-rate home loans gain steam in Singapore), more home buyers are looking to fixed-rate loans to finance their property purchases. However, Sibor packages are still the most attractive loans on offer, said John Lee, Head of LoanGuru.com.sg, a free...
Continue Reading • 13 Oct 2011
Royal Brothers undergoes restructuring
The Royal Brothers, a property group owned by brothers Raj Kumar and Asok Kumar Hiranandani, is being reorganised, involving a swap of assets worth more than S$1 billion between the two owners, according to some sources.Aimed at succession planning, the exercise will allow their respective sons,...
Continue Reading • 13 Oct 2011
Singapore economy to see slower growth, says Tharman
Singapore is expected to experience slower economic growth in the following years, as the global economy slows, said Monetary Authority of Singapore (MAS) Chairman and Deputy Prime Minister Tharman Shanmugaratnam.“The global economic environment has become more uncertain. There is a general...
Continue Reading • 13 Oct 2011
UOL wins prestigious property award from FIABCI
Property developer UOL has announced that its Duchess Residences project has clinched the Residential (Low Rise) category award at the inaugural FIABICI Singapore Property Awards 2011. This win, together with its four other international FIABCI awards, means OUL qualifies to participate in the...
Continue Reading • 13 Oct 2011
Govt taking serious steps to address housing issues
The Singapore government is taking active measures to address the “temporary imbalance” in the housing market, said National Development Minister Khaw Boon Wan.“We commit to house all Singaporeans and to help them own their homes. Our home ownership programme is world renowned:...
Continue Reading • 13 Oct 2011
CTC Tourism Holdings acquires Park Regis Singapore
CTC Tourism Holdings, the owner of CTC Travel, has acquired the Park Regis Singapore hotel at New Market Street / Merchant Road for around S$270 million, according to The Business Times.The property, which has a remaining leasehold period of 95 years, comprises a 203-room hotel and an adjacent...
Continue Reading • 13 Oct 2011