Dubai property remains attractive despite upheavals
Dubai is still a key location for property investment despite the ongoing political crisis in the region.According to the National Commercial Bank (NCB), a top Saudi financial institution, demand in some segments is increasing, but the outlook remains cautious due to the global economic slowdown....
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
St. Regis Shenzhen opening soon
The St. Regis brand will mark its first foray into Shenzhen with the launch of the St. Regis Shenzhen, slated to open in late 2011 atop Kingkey building, the eighth tallest building in the world.“We are looking forward to introducing the St. Regis brand to Shenzhen and southern...
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
Pasir Ris EC site sells for S$122m
An Executive Condominium (EC) site at the junction of Pasir Ris Drive 3 and Pasir Ris Link has been sold to Ho Lee Group Ltd & Maxdin Ltd, after offering the highest bid of S$122.20 million (S$291 psf ppr) in a state tender that closed on 11 October 2011.The site, which was launched for sale...
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
Aussie mortgage lending on the uptrend
Home loan approvals in Australia have increased, as home buyers are confident that interest rates will stagnate or decline in the coming months.Data from the Australian Bureau of Statistics revealed that the number of home loans granted in August climbed 1.2 percent to 50,965, marking the fifth...
Continue Reading • 13 Oct 2011
Landed home approvals for PRs to decline on tighter rules
The number of approvals granted to permanent residents (PRs) who want to acquire landed homes in Singapore will likely fall by more than 50 percent after the criteria was further tightened recently, according to Law Minister K Shanmugam.“After the further tightening, I suspect we are...
Continue Reading • 13 Oct 2011
8 on Claymore Serviced Residences launches today
8 on Claymore Serviced Residences, a luxury project located in the prime Orchard area will officially be launched today.Already, the only penthouse, a three-bedroom luxury pad with an area of 175 sq m has been booked till June 2012. Managed by the Royal Plaza on Scotts, 8 on Claymore Serviced...
Continue Reading • 13 Oct 2011
Tengah, Bidadari seen as possible new towns
Morning UpdateTo cope with the growing population, the government has identified the areas of Bidadari and Tengah as potential residential estates. The plan was highlighted yesterday by National Development Minister Khaw Boon Wan in an addendum to the President's address. In a statement, Mr Khaw...
Continue Reading • 13 Oct 2011
Pearlbank Apartments up for sale by tender
Pearlbank Apartments, a prime residential redevelopment site, has been launched for en bloc sale with a revised price of S$725 million, lower than its previous S$750 million price tag.Sole marketing agent Knight Frank said the indicative price for the property includes a lease top-up of...
Continue Reading • 12 Oct 2011
Singapore: Asia's key driver for hotel investment sales
CBRE Hotels has released its latest analysis of hotel investment sales and room rates in Asia for the third quarter, with Singapore emerging as one of the most active hotel investment markets for 2011, at 27 percent of the total investment volume.“Although investment sales in Asia were...
Continue Reading • 12 Oct 2011
Pasir Ris EC site draws 11 bids
A public tender for an Executive Condominium (EC) site at Pasir Ris Drive 3 / Pasir Ris Link has received a total of 11 bids, with Ho Lee Group Ltd and Maxdin Ltd jointly submitting the highest bid of S$122.20 million. Li Hiaw Ho, Executive Director of CBRE Research, said the top bid of $122.20...
Continue Reading • 12 Oct 2011
Remortgage activity driving UK housing market
The UK mortgage market was revitalised in August after re-mortgaging and lending to first-time buyers and home movers increased, following the implementation of lower interest rates.According to data released by the Council of Mortgage Lenders (CML), the number of re-mortgages climbed 33 percent...
Continue Reading • 12 Oct 2011
Jelebu Road mixed use site up for sale
The Urban Redevelopment Authority (URA) has launched a commercial-cum-residential site at the junction of Jelebu Road and Petir Road for sale by public tender.According to the planning authority, the site is strategically located near the Bukit Panjang LRT station and the upcoming Bukit Panjang...
Continue Reading • 12 Oct 2011
More opportunities in Asian real estate than Europe, US, says report
Asia provides opportunities for better relative returns on property than Europe and the US, according to a latest report released by the Asia Pacific Real Estate Association (APREA), which represents and promotes the regional property sector.Written by Prof Graeme Newell of the University of...
Continue Reading • 12 Oct 2011
2 sites relaunched for collective sale
Colliers International will be re-launching collective sales for two freehold residential sites, St Patrick’s Garden at St Patrick’s Road and Crystal Tower at Ewe Boon Road. Colliers has yet to release an indicative price for either property. “We have decided to let the market...
Continue Reading • 11 Oct 2011