Wheelock's Q3 profit sees 60% dip
By Cheryl Tay:Wheelock Properties (S) Ltd’s net profit fell sharply by 60 percent to S$32.38 million in Q3, from S$80.77 million in Q3 last year. At the same time, its turnover fell 77 percent, from S$164.39 million to S$37.65 million, reported The Business Times.For the first three...
Continue Reading • 14 Nov 2012
China to build 6 million subsidised homes next year
By Cheryl Tay:In line with efforts to address the housing needs of its growing population, China will build six million state-subsidised homes next year, reported The Straits Times.According to Housing Minister Jiang Weixin, they have been “making good progress in construction of social...
Continue Reading • 14 Nov 2012
Sengkang EC site awarded to Verspring Properties
By Cheryl Tay:The Housing and Development Board (HDB) has awarded the tender for an executive condominium (EC) site at the junction of Sengkang West Way and Fernvale Link (Parcel B) to the highest bidder, Verspring Properties Pte. Ltd.Beating five other bidders, Verspring Properties submitted an...
Continue Reading • 14 Nov 2012
Upcoming Aerospace Park to benefit Seletar Hills homes
By Cheryl Tay:Seletar Hills is expected to significantly benefit from the completion of the Seletar Aerospace Park (pictured) in 2018, given its location right at the park’s doorstep, reported The Straits Times.Apart from being strategically situated between major transport routes, the...
Continue Reading • 12 Nov 2012
Some US borrowers prefer 15-year loans
By Cheryl Tay:Despite lower mortgage rates, some borrowers in the US are reducing their interest rates further by turning to loans with shorter tenures, or taking out “hybrid” adjustable-rate mortgages (ARM), reported The Wall Street Journal.According to the biggest mortgage lender in...
Continue Reading • 12 Nov 2012
S'pore remains biggest foreign investor in Iskandar
By Cheryl Tay:The Iskandar Regional Development Authority (IRDA) announced that Singapore’s cumulative investments in Iskandar Malaysia (pictured) increased by more than a third in the first seven months of 2012.According to a report by The Business Times, the country’s cumulative...
Continue Reading • 12 Nov 2012
UOL: Housing demand to moderate with loan restrictions
By Cheryl Tay:The recent restrictions imposed on home loan tenures, as well as more supply coming on-stream, will likely moderate housing demand, according to UOL Group.In a report by AsiaOne, UOL noted: “The residential market is still driven by high liquidity and low interest rates....
Continue Reading • 12 Nov 2012
Parliament to discuss major issues today
By Cheryl Tay:The Parliament will tackle diverse issues this afternoon, as Members of Parliament (MPs) have filed 110 questions for reply and nine bills are also due for a second reading, reported The Business Times.Among the pertinent issues to be discussed is whether high inflation will warrant...
Continue Reading • 12 Nov 2012
Big-ticket deals down in first 10 months of 2012
By Cheryl Tay:Only 33 luxury condos and apartments priced from S$10 million onwards changed hands in the first 10 months of the year, down from 57 units over the same period last year, reported The Business Times.According to a URA data analysis by CBRE, the 33 units amounted to S$449.6 million,...
Continue Reading • 12 Nov 2012
Tiong Seng posts S$356m revenue for three quarters
By Cheryl Tay:Tiong Seng Holdings Limited posted a 31 percent boost in its revenue for the first nine months of the fiscal year 2012 to S$356.7 million, due to higher earnings from construction contracts and better sales of Cobiax products.At the same time, its net profit attributable to...
Continue Reading • 12 Nov 2012
UK buy-to-let market recovering
By Romesh Navaratnarajah: The value of buy-to-let mortgages granted in the UK for Q3 rose by eight percent to £4.2 billion (S$8.21 billion) from £3.9 billion (S$7.63 billion) in Q2, according to data released by the Council of Mortgage Lenders (CML) yesterday. For the first three...
Continue Reading • 9 Nov 2012
UOL's profit down 13%
By Romesh Navaratnarajah: Property developer UOL Group posted a 13 percent decline in net attributable profit for Q3 2012 to S$87.8 million, while revenue also fell 33 percent to S$277.7 million from S$413.3 million during the same period last year. The weaker results were attributed to lower...
Continue Reading • 9 Nov 2012
Singapore projects win top honours in HK
By Romesh Navaratnarajah: The MIPIM Asia Awards have recognised the most outstanding real estate projects in the Asia Pacific region this year, with several developments from Singapore clinching gold, silver and bronze awards. Winners were ranked according to the jury’s votes together with...
Continue Reading • 9 Nov 2012
The Shore @ Malacca River - Exclusive waterfront living, Play where you live
After the successful launches of 222 Residency, 288 Residency & Viridian Cheras Idaman in Kuala Lumpur, Kerjaya Prospek Group is now embarking on its first mixed development in Malacca - The Shore @ Malacca River (pictured), a freehold luxury mixed development that houses three towers...
Continue Reading • 9 Nov 2012
S$135m top bid for Sengkang EC site
By Romesh Navaratnarajah: An executive condominium (EC) site located at the junction of Sengkang West Way and Fernvale Link (Parcel B) fetched a top bid of S$135 million from Verspring Properties when the public tender closed yesterday, said the Housing and Development Board (HDB).Launched for...
Continue Reading • 9 Nov 2012
OUE to make decision on F&N bid next week
By Romesh Navaratnarajah: Mainboard-listed Overseas Union Enterprise Ltd (OUE) is set to clarify whether or not it will make an offer for Fraser and Neave Ltd (F&N) no later than about the middle of this month. “Following discussions with the Securities Industry Council (SIC), OUE will...
Continue Reading • 8 Nov 2012
Giant pandas inspire charity drive
By Romesh Navaratnarajah: Property developer CapitaLand and its philanthropic arm CapitaLand Hope Foundation have launched the Because iCare - Kai Kai and Jia Jia Charity Drive, in line with fundraising efforts for President’s Challenge 2012. Some 200 guests and 50 children’s...
Continue Reading • 8 Nov 2012
US mortgage applications fall 5.3%
By Romesh Navaratnarajah: US mortgage applications fell 5.3 percent last week compared to the week before, according to the Mortgage Bankers Association’s (MBA) weekly survey. At the same time, MBA’s refinance index slipped 5.3 percent while the purchasing index dropped 4.8 percent on...
Continue Reading • 8 Nov 2012
Ho Bee's revenue up, but net profit misses
By Romesh Navaratnarajah: Singapore-listed Ho Bee Investment posted a 5.6 percent growth in its Q3 revenue to S$59.1 million on the back of higher contributions from its projects. At the same time, the group’s profit share from jointly controlled entities rose more than two-fold to S$20.2...
Continue Reading • 8 Nov 2012
MIPIM Asia kicks off in HK
By Romesh Navaratnarajah:The MIPIM Asia Sustainable Property Expo, considered the largest property expo in the Asia Pacific, kicked off yesterday at the Hong Kong Convention and Exhibition Centre.The three-day event which ends tomorrow is showcasing projects by hundreds of exhibiting companies...
Continue Reading • 8 Nov 2012