Turning parking lots into outdoor living spaces
URA opens registration for PARK(ing) Day. Parking lots across Singapore will be a buzz of activity on 19 September after the Urban Redevelopment Authority (URA) invited the public to turn these areas into temporary public spaces for Singaporeans to enjoy. This is being organised in...
Continue Reading • 14 Aug 2014
Developers to be cautious with land bids: analysts
The growing number of unsold private homes and the weaker buying sentiment have forced developers to be more cautious with their land bids, said analysts and reported in the media. Notably, sales of new private homes, excluding Executive Condominiums (ECs), plunged 55 percent to 4,400 units in...
Continue Reading • 14 Aug 2014
Slight improvement in prime resale market
Singapore's residential resale market activity within Districts 9, 10 and 11 registered a slight pick-up in sales volumes in Q2 2014, according to JLL's Asia Pacific Property Digest for Q2 2014. The number of units sold rose 18.6 percent quarter-on-quarter (q-o-q) to 191 units, signalling an...
Continue Reading • 14 Aug 2014
No subsales from units bought in 2013
Buyers who bough private non-landed homes in uncompleted projects and then sold them in H1 2014 before the issuance of Certificate of Statutory Completion held their properties for a longer period due to the seller's stamp duty (SSD), based on a research by Ngee Ann Polytechnic as reported in the...
Continue Reading • 14 Aug 2014
CDL's net profit slides 32.8%
City Developments Limited (CDL) recorded a 32.8 percent decline in its net profit in Q2 2014 from $205 million in Q2 2013 to $138 million. However, its core earnings (excluding divestment gains in H1 2013) increased by 89.7 percent to $137.9 million in Q2 2014 against $72.7 million for the...
Continue Reading • 14 Aug 2014
New Penang property launching in Singapore
Penang is considered very attractive to overseas investors. Property investment in the Malaysian state of Penang is once again in the spotlight among buyers and investors in Singapore, with the VVIP launch of Tropicana 218 Macalister taking place this weekend (16-17 August) from 10am to 8pm...
Continue Reading • 14 Aug 2014
UOL makes first foray in London
Heron Plaza site sold to UOL Group for £97 million. Singapore-listed developer UOL Group has bought a prime development site in London’s financial district from property investment company Heron International for £97 million. Located in the Bishopsgate area, the Heron Plaza site will be...
Continue Reading • 14 Aug 2014
Review earlier property curbs: property consultants
Although the government has reiterated that property cooling measures will be kept in place, some real estate consultants are still calling for a review of earlier curbs, which they believe may have become "redundant", reported the media. Speaking at the annual National Real Estate Congress...
Continue Reading • 13 Aug 2014
Residents affected by SERS want wet market nearby
Due to the Selective En bloc Redevelopment Scheme (SERS), about 3,480 households in 31 HDB blocks along Tanglin Halt and Commonwealth Drive will be relocated to new flats at five sites in Dawson estate along Margaret Drive, Dawson Road and Strathmore Avenue in 2020. However, the 157 market and...
Continue Reading • 13 Aug 2014
KSH records decline in revenue, net profit
KSH Holdings announced a net profit of $9.6 million in the first quarter ended June 30, 2014 (1Q FY2015), compared to $11.4 million in the previous corresponding quarter (1Q FY2014). Group revenue, which comprises project revenue and rental income from investment properties, stood at $62.5...
Continue Reading • 13 Aug 2014
All HDB flats to have CCTVs by 2016
Cameras will be installed at all 10,000 HDB blocks and multi-storey car parks (MSCPs), as part of the Community Policing System (COPS). Since May 2012, a total of 18,000 police cameras have been installed in 3,300 HDB blocks and MSCPs across all 16 Town Councils and the 87 wards that they...
Continue Reading • 13 Aug 2014
LTA to make selected roads safer for seniors
Five residential estates, in Bedok, Bukit Merah, Jurong West, Marine Parade and Yishun, will have new road safety features as part of the Silver Zone pilot programme to make roads safer for the elderly. These estates have a large population of seniors and a relatively high accident rate...
Continue Reading • 13 Aug 2014
House fit for a king goes on sale
Perth home of Malaysian king on the market. A Malaysian sultan has put his home in Perth, Western Australia on the market, media reports said. Commissioned in 2007, the property in Dianella St is considered fit for royalty and comprises seven bedrooms, six bathrooms, a theatre and games...
Continue Reading • 12 Aug 2014
Vacancy rate in private residential market still 'healthy'
While the number of completed but unoccupied private homes in Singapore is growing, property watchers believe the vacancy rate is still "healthy", reported the media. In fact, they even expect the number to increase over the next few years, with the suburbs witnessing the most significant...
Continue Reading • 12 Aug 2014
S'pore adjusts growth forecast to 2.5 to 3.5%
Singapore's Gross Domestic Product (GDP) growth forecast for this year has been narrowed to 2.5 to 3.5 percent, the Ministry of Trade and Industry (MTI) announced today. Previously, the 2014 growth forecast was at two to four percent. The country’s economy grew by 2.4 percent on a...
Continue Reading • 12 Aug 2014
Scheme to safeguard against errant contractors
The Consumers Association of Singapore (CASE) and the Singapore Renovation Contractors & Material Suppliers Association (RCMA) have joined forces to create a voluntary accreditation scheme for the renovation industry, according to media reports. Effective next year, the CaseTrust-RCMA...
Continue Reading • 12 Aug 2014
Ho Bee Land reports 54% profit slump
Property developers facing challenging conditions. Singapore-listed developer Ho Bee Land suffered a net profit decrease of 54 percent year-on-year to $12.2 million in Q2 2014. But group turnover for the three months jumped to $26.8 million compared to $6.1 million during the same period...
Continue Reading • 12 Aug 2014
Frasers Centrepoint's net profit down 60%
Frasers Centrepoint Limited (FCL)'s 3Q FY13/14 revenue and profit before interest and tax (PBIT) rose 41 percent and 56 percent from the previous corresponding quarter to $575.4 million and $160.3 million, respectively. The growth was driven by revenue from overseas markets as a result of...
Continue Reading • 12 Aug 2014
Top honour for property player
The highest National Day Award this year - the Distinguished Service Order (Darjah Utama Bakti Cemerlang) - was presented to Chua Thian Poh, the Chairman and CEO of public-listed Ho Bee Land. The Order is awarded to any individual who has performed within Singapore any act or series of acts...
Continue Reading • 12 Aug 2014
Three property agencies strike new partnership to battle competition
The move comes amid tough property market conditions. More real estate agencies are joining strategic alliances to jointly market a larger pool of properties, helping to extend the reach of their agents and providing more choices to clients. The latest companies to come together to form a...
Continue Reading • 11 Aug 2014