Sarawak land graft exposed
By Farah Wahida:A short film released by international NGO Global Witness has documented shady land deals in Sarawak involving the state’s Chief Minister Tan Sri Abdul Taib Mahmud (pictured) and his relatives.Posing as potential plantation buyers, the investigative team revealed how...
Continue Reading • 21 Mar 2013
Sim Lian releases 250 condo units at Hillion Residences
By Nikki De Guzman:A new mixed-use development comprising a condominium, retail mall and bus interchange was launched in Bukit Panjang today. Developed by Sim Lian JV (BP), Hillion Residences (pictured) is the first project of its kind in the west to integrate private homes with commercial...
Continue Reading • 21 Mar 2013
UK Budget: Measures welcomed
By Andrew Batt: Yesterday’s UK budget statement, and its measures to boost the property sector, has been warmly welcomed by many in the industry.Chancellor George Osbourne (pictured) announced a £130 billion plan to guarantee low cost mortgages through a scheme that will start at the...
Continue Reading • 21 Mar 2013
UK Budget: No Mansion Tax
By Andrew Batt:UK Finance Minister George Osbourne steered clear of introducing a ‘Mansion Tax’ in the annual UK Budget statement.The move to introduce a tax on high-end homes that would have impacted the large number of overseas property buyers and investors had been widely predicted...
Continue Reading • 21 Mar 2013
Hong Kong top for price growth
By Andrew Batt:Hong Kong lead the world in house price growth during 2012 according to the latest Knight Frank Global House Price Index which was published yesterday.Mainstream property prices in Hong Kong rose on average by 23.6 percent during 2012. With supply lagging, demand from mainland...
Continue Reading • 20 Mar 2013
Price drop for UK's most expensive home
By Andrew Batt: At S$130 million it’s the UK’s most expensive home currently on the market – and the good news for buyers is that the price has recently been cut by an incredible S$60 million. Heath Hall (pictured) is a stunning Edwardian mansion in the Hampstead area of...
Continue Reading • 20 Mar 2013
Singapore, Iskandar Malaysia to get twin airport?
By Farah Wahida:In a bid to boost the aviation industry of southern Johor and Singapore, the planning authority of Iskandar Malaysia is looking to propose a twin-airport concept to the city-state, reported Star Property.According to Datuk Ismail Ibrahim, CEO of Iskandar Regional Development...
Continue Reading • 19 Mar 2013
S'poreans to become top Dubai buyers
By Nikki De Guzman:Investors from Singapore and Iran are expected to lead the list of top overseas buyer groups in Dubai this year, said Knight Frank. The consultancy noted that the number of global high-net-worth individuals (HNWIs) — those with a net worth of at least US$30 million...
Continue Reading • 19 Mar 2013
Ascott strengthens Citadines brand in Asia
By Shabnam Muzammil:The Ascott Limited (Ascott) has expanded its Citadines brand with the opening of two serviced residences - the 153-unit Citadines Rasuna in Jakarta, Indonesia and the 215-unit Citadines Uplands in Kuching, East Malaysia.“Ascott has been increasingly getting requests from...
Continue Reading • 19 Mar 2013
NUS team tops green building competition
By Nikki De Guzman:A team from the National University of Singapore (NUS) has emerged as champions of the second BCA-CDL Green Sparks Competition held recently at BCA Academy. An initiative by BCA and green developer CDL, the competition was organised to challenge tertiary students to come...
Continue Reading • 19 Mar 2013
Sysma's proposed rights issue to raise $16m
By Nikki De Guzman:Singapore-listed Sysma Holdings has proposed a renounceable non-underwritten rights issue of up to 95 million shares, each at an issue price of S$0.17 on the basis of one rights share per one existing ordinary share. Xiang Investment, Sysma’s sole controlling...
Continue Reading • 19 Mar 2013
Over 80% of units sold at Urban Vista
By Romesh Navaratnarajah:The newly-launched Urban Vista condominium (pictured) has seen keen interest from buyers, with 250 of the 310 units released (over 80 percent) sold at its three-day weekend preview. Jointly developed by Fragrance Group and World Class Land, apartment prices ranged from...
Continue Reading • 19 Mar 2013
New condo to launch at popular hotspot
By Shabnam Muzammil: A new 99-year leasehold condominium at Bartley by Mount V Development (a joint company of Hong Leong Holdings, City Developments and TID) is set to be unveiled.Bartley Ridge (pictured) comprises nine 18- and 19-storey blocks with units ranging from one- to four-bedders and...
Continue Reading • 19 Mar 2013
CDL sees overwhelming response to Pasir Ris condo
By Nikki De Guzman:Close to 80 percent or 500 of the 650 units released at D'Nest (pictured) were snapped up at the condo's preview over the weekend. Jointly developed by CDL, Hong Leong Holdings and Hong Realty, the 912-unit development at Pasir Ris Grove estate comprises 12 blocks of 11-...
Continue Reading • 19 Mar 2013
Lam Soon Industrial Building up for collective sale again
By Romesh Navaratnarajah: The 10-storey Lam Soon Industrial Building (pictured) at 63 Hillview Avenue has been re-launched for collective sale, according to marketing agent Colliers International. The 230,915 sq ft freehold property comprises 154 warehouses and light industrial factories. The...
Continue Reading • 18 Mar 2013
Condos in east see strong buyer demand
By Nikki De Guzman:Urban Vista (pictured) in Tanah Merah saw robust sales at its preview on Saturday, with over 180 of the 230 units released snapped up at an average price of S$1,350 psf.According to The Straits Times, most buyers were investors attracted to the project's good location. Jointly...
Continue Reading • 18 Mar 2013
New projects to revive Potong Pasir
By Shabnam Muzammil: Potong Pasir is set to shed its backwater image with new projects that are expected to liven up the area, reported The Straits Times. Residential launches, namely 18 Woodsville, Nin Residence, Sant Ritz and Sennet Residence (pictured) will boost the town's supply of private...
Continue Reading • 18 Mar 2013
Govt pledges 60 senior group homes by 2016
By Shabnam Muzammil:The government will build 60 new senior group homes by 2016 to allow the elderly to continue living within their community rather than in nursing homes, reported The Straits Times. Acting Minister for Social and Family Development, Chan Chun Sing, said in Parliament that the...
Continue Reading • 18 Mar 2013
Property agent suspended, fined $10,000
By Nikki De Guzman:The Council for Estate Agencies (CEA) has convicted a property agent of three charges for breaching the Code of Ethics and Professional Client Care when undertaking property transactions.54-year-old Chua Cheng Thian, Benny, who has been a salesperson for 17 years is facing a...
Continue Reading • 18 Mar 2013
More than 350 units sold at D'Nest preview
By Romesh Navaratnarajah: Close to 80 percent or more than 350 of the 450 units released at today’s sales preview of D’Nest (pictured) were snapped up as of 5pm today, with buyers out in force at its show flat in Pasir Ris since this morning. Launched by a CDL-led consortium, the...
Continue Reading • 18 Mar 2013