Chip Eng Seng clinches S$113m project from HDB
Chip Eng Seng Contractors has clinched a S$113 million contract with the Housing & Development Board (HDB) to build residential developments in Hougang Neighbourhood 4.Under the contract, Chip Eng Seng will build five residential towers with 792 units and a multi-storey carpark for a...
Continue Reading • 31 Aug 2011
Ascott adds two more properties in China
The Ascott Ltd, a wholly-owned serviced residence unit of CapitaLand, will manage two more properties in Beijing and Chengdu, further strengthening its position as the largest international serviced residence owner-operator in China.“We are pleased to secure two more management contracts...
Continue Reading • 31 Aug 2011
SOR-pegged packages losing their lustre
Swap offer rates (SOR) — a rate that signifies the synthetic cost of borrowing Singapore dollars, by borrowing US dollars at similar maturity and exchanging them for Singapore dollars — turned negative two weeks ago as funds seeking safety flooded the local market.Following this drop,...
Continue Reading • 26 Aug 2011
HDB releases 2 EC sites for sale
The Housing & Development Board (HDB) has launched two executive condominium (EC) residential sites at Pasir Ris Drive 3 / Pasir Ris Rise and Yishun Avenue 7 / Canberra Drive for sale through public tenders.The 99-year leasehold land parcel at Pasir Ris Drive 3 / Pasir Ris Rise has a total...
Continue Reading • 26 Aug 2011
Revised income ceiling rule to apply for 2 new EC sites
The revised income ceiling, as well as the tiered Central Provident Fund (CPF) housing grants, will apply to two executive condominium (EC) sites — Pasir Ris Drive 3 / Pasir Ris Rise and Yishun Avenue 7 / Canberra Drive — launched by the Housing & Development Board...
Continue Reading • 26 Aug 2011
URA launches two residential sites
Two residential land parcels at Jalan Loyang Besar / Pasir Ris Rise and Flora Drive were launched by the Urban Redevelopment Authority (URA) for sale through public tender yesterday.Launched for sale under the confirmed list of the H2 2011 Government Land Sales (GLS) programme, the two 99-year...
Continue Reading • 26 Aug 2011
New aircon bus interchange to open in Serangoon
Commuters from northeast Singapore will now enjoy enhanced connectivity and convenient transfers through a brand new, fully air-conditioned bus interchange to open at Serangoon Central.The new S$18.8 million interchange will open on 3 September 2011 and is located at Basement Two of NEX Mall. It...
Continue Reading • 26 Aug 2011
ibis Bengaluru becomes the 100th Ibis in region
Accor’s international hotel brand ibis has launched its first hotel in Bengaluru — the ibis Bengaluru Techpark. Set to open in September, the new hotel will become the fourth ibis to open in India and the 100th ibis in the Asia Pacific region.Known for its quality, simplicity and...
Continue Reading • 26 Aug 2011
Home buyers not scared off by Ghost Month
This month’s Hungry Ghost Festival has slowed down property launches but may have less impact on home sales, according to Singapore Business Review.More people are becoming less superstitious and with a favourable market, home sales are expected to rise, despite the traditionally...
Continue Reading • 26 Aug 2011
Channel NewsAsia is official media partner for SEA Property Awards 2011
The first South East Asia Property Awards (SEAPA) 2011 will be held in Singapore on 30 November, with TV news network Channel NewsAsia (CNA) as its official International media partner.A subsidiary of MediaCorp, CNA is the most watched news channel in Singapore, with more than 60 percent market...
Continue Reading • 26 Aug 2011
Midlink Plaza, Permai Court for sale
Midlink Plaza, a nine-storey commercial building at the junction of Queen Street and Middle Road, has been launched for tender with an indicative price of between S$120 million and S$130 million.With the building’s existing strata area of 92,861 sq ft, the price tag translates to around...
Continue Reading • 25 Aug 2011
US mortgage delinquencies on the rise
The number of late mortgage payments in the US increased from 8.32 percent in the first quarter of this year to 8.44 in the second quarter, according to a report by Bloomberg.The Mortgage Bankers Association (MBA) in Washington reported that home loans overdue by 30 days climbed from 3.35 percent...
Continue Reading • 25 Aug 2011
OUE proposing share purchase mandate
Singapore property developer Overseas Union Enterprise (OUE) has announced that it will be proposing a share purchase mandate to enable it to acquire its issued shares, in response to questions from investors wanting to know whether it has such a mandate.Firms use share buybacks for different...
Continue Reading • 25 Aug 2011
Kerry Properties profit surges by 52% in H1
Hong Kong builder Kerry Properties Ltd has announced that its first-half underlying profit jumped 52 percent, attributed to the booking profit from its Larvotto luxury housing project in Hong Kong. Excluding revaluation gains, its profit rose to S$419 million (HK$2.77 billion) in the first half...
Continue Reading • 25 Aug 2011
DTZ lowers forecast for property investment in Asia-Pac
DTZ has downgraded this year’s property investment forecast in the Asia Pacific region from S$158 billion to S$135 billion.“The downward revision comes as a result of policy initiatives in China to cool the property market, the earthquake and tsunami in Japan, and fears of a global...
Continue Reading • 25 Aug 2011
Allgreen and Australand to delist from SGX
Allgreen Properties, which is controlled by Malaysian billionaire Robert Kuok, will be delisted today, after a unit owned by members of the Kuok Group offered S$1.60 for each share in Allgreen in May 2011.This offer values the company, which is one of Singapore’s largest property groups, at...
Continue Reading • 25 Aug 2011
Far East to hold open house for euHabitat in China
Singapore property developer Far East Organization (FEO) will hold an open house on 27 and 28 August 2011 in China to introduce euHabitat to Chinese buyers.The open house will be held in Beijing, Shanghai, Shenzhen and Hangzhou. In addition, an exhibition will also be held in Xiamen this weekend,...
Continue Reading • 24 Aug 2011
Pontiac Land emerges with two new luxury launches
Private property developer Pontiac Land has returned with the launch of two new luxury developments in Singapore, according to a Business Times report.Located at the old Pin Tjoe Court in Ardmore Park, Ardmore Residence is designed by the Amsterdam-based UNStudio. The development will comprise 58...
Continue Reading • 24 Aug 2011
Saizen Reit posts distributable income of S$6.1m in FY2011
Saizen Real Estate Investment Trust (Reit), the first real estate investment trust (Reit) in Singapore with purely Japanese regional residential properties, has posted a distributable income of S$6.1 million as of 30 June 2011, a rise from S$2.7 million as of the same period last year.The group...
Continue Reading • 24 Aug 2011
UK mortgage lending remains flat
Gross mortgage lending in the UK remained flat at £7.6 billion in July, as the economy remained weak, according to the British Bankers' Association (BBA).This was eight percent lower compared to the total mortgage lending a year ago and an 11 percent decline between May and June, said...
Continue Reading • 24 Aug 2011