UK mortgage approvals jump unexpectedly
UK mortgage approvals rose unexpectedly in June, while net lending saw little growth, indicating that recovery in the housing market is still struggling to gain momentum. According to the Bank of England, mortgage lenders approved 48,421 home loan purchases, a record high since the 46,418 loans...
Continue Reading • 4 Aug 2011
Redevelopment site at Geylang Rd up for sale
A redevelopment site in the Geylang Conservation area has been put up for sale through a tender.Located at 693 Geylang Road, the 99-year leasehold property has a total area of 6,488 sq ft and a gross plot ratio of 2.8. Its marketing agent, Colliers International, said a two-storey building...
Continue Reading • 4 Aug 2011
Tiong Seng wins bid for luxury residential site in Suzhou
Chang De Investment Private Ltd, a wholly-owned subsidiary of Tiong Seng Holdings, has successfully submitted the highest bid of RMB382 million for a residential site in Suzhou, China, which is planned for a new high-end property development.Located in the Suzhou New District Xu Shu Guan...
Continue Reading • 4 Aug 2011
New launches set to decline
New property launches are expected to decline, as developers defer project launches over the next few weeks.The decline could be attributed to the start of the Hungry Ghost Festival but property analysts believe that the uncertainty in the global economy poses a greater threat.According to a...
Continue Reading • 4 Aug 2011
OUE reports 20.3% increase in profit
Mainboard-listed integrated property developer Overseas Union Enterprise Ltd (OUE) is building momentum with robust financial results in the second quarter.Profit after tax in Q2 climbed 20.3 percent year-on-year to S$20.1 million, while Q2 revenue rose 39.8 percent to S$72.3 million. “We...
Continue Reading • 4 Aug 2011
Roxy-Pacific profit rises to S$24.9m
Singapore-based property and hospitality group Roxy-Pacific Holdings Ltd achieved a net profit of S$24.9 million in the first half of 2011, up 14 percent from S$21.9 million over the same period last year.However, H1 revenue declined 16 percent to S$97.1 million, mainly due to lower contributions...
Continue Reading • 4 Aug 2011
Iskandar Malaysia the new frontier, says property expert
As Singapore’s property market hits its peak and with prices of both private and public housing skyrocketing, more property investors are now eyeing overseas property, with Kuala Lumpur as one of their top choices.However, Khalil Adis, a property expert and regular contributor to...
Continue Reading • 4 Aug 2011
Braddell View en bloc deal in limbo
The possibility of an en bloc sale of Braddell View HUDC estate is being hampered by its unique status.Out of 18 HUDC estates, Braddell View is the only one that has yet to be privatised or assigned for privatisation.This means that the 30-year-old estate, which has an area of 106,000 sq m,...
Continue Reading • 4 Aug 2011
Property firms trash fliers in light of new rules
A number of property fliers have been thrown out, as new measures to stop misleading advertising in the industry are officially in place.However, some agents still managed to run ads against the rules, especially online.For instance, over 50 ads on two property websites are claiming access to...
Continue Reading • 3 Aug 2011
181 units sold at Yanlord Riverside Gardens in Tianjin
SGX-listed Yanlord Land Group sold 181 of its 310 apartments at the launch of Yanlord Riverside Gardens in Tianjin, China.The residential project is Yanlord Land’s second international community development in Tianjin, which has brought in 572 million yuan in pre-sales.The real estate...
Continue Reading • 3 Aug 2011
REDAS teams up with property stock analysts for market intelligence
The Real Estate Developers' Association of Singapore (REDAS) is developing a relationship with property stock analysts, due to concerns following the weakening market sentiment and potential over-supply in the private residential sector throughout Singapore.According to The Business Times, REDAS...
Continue Reading • 3 Aug 2011
New US rules could mean higher mortgage rates, down payments
Buyers of luxury homes in the US are expected to face higher mortgage rates and heavier down payments, following the latest rules announced by the federal government, effective 1 October 2011.Currently, Freddie Mac, Fannie Mae and the Federal Housing Administration can acquire and guarantee...
Continue Reading • 3 Aug 2011
181 units sold at preview of euHabitat
Far East Organization (FEO) has sold 181 units at the preview of its most recent residential development, euHabitat.Located at Jalan Eunos, euHabitat offers a live-work-play environment with a unique blend of modern one-bedroom suites, condominiums, SOHO-style apartments and townhouses, with...
Continue Reading • 3 Aug 2011
Millennium & Copthorne reports higher profit and solid growth
Millennium & Copthorne Hotels (M&C), the London-listed hotel arm of City Developments Ltd (CDL), has achieved a 91.6 percent growth in net profit to £47.9 million in the second quarter of this year.The company said the strong results can be attributed to the £17.4 million gain...
Continue Reading • 3 Aug 2011
CapitaLand raises S$700,000 from green campaign
CapitaLand announced that its Green for Hope campaign has raised S$700,000 to help underprivileged children across the country through the five Community Development Councils (CDCs) in Singapore.Launched in 2010, Green for Hope @ CapitaLand is part of the company’s Green for Hope project, a...
Continue Reading • 3 Aug 2011
Ascott enters into JV to acquire 90% interest in Somerset Central
The Ascott Limited, a wholly-owned serviced residence business unit of CapitaLand, has entered into a conditional joint venture (JV) agreement with Thuy Duong Investment Joint Stock Company to acquire a 90 percent interest in Somerset Central TD Hai Phong City in Vietnam for S$11.4 million...
Continue Reading • 3 Aug 2011
Work starts on first ecological corridor in SE Asia
A groundbreaking ceremony was held last week for the development of Eco-Link@BKE, the first ecological corridor in Southeast Asia.Part of Singapore’s efforts to conserve biodiversity in its urban landscape, the Eco-Link will connect the country’s two largest nature reserves, the...
Continue Reading • 2 Aug 2011
Sales brisk over at euHabitat
Far East Organization (FEO) has sold more than 150 units at its euHabitat residential development in Jalan Eunos.According to a report, more than 200 units of the project’s 748 units were released during its preview last week. The 99-year leasehold private residential project comprises 233...
Continue Reading • 2 Aug 2011
Wheelock's Q2 net profit down 55.7%
Wheelock Properties (Singapore) has announced that its net profit declined 55.7 percent year-on-year to S$37 million in the second quarter, on the back of a 61.8 percent drop in revenue to S$67.6 million.Meanwhile, its net profit for the first half of the year also fell 33.3 percent to S$89.4...
Continue Reading • 2 Aug 2011
S'pore again named best convention city in Asia
Singapore has retained its position as Asia’s Top Convention City, according to the International Congress and Convention Association’s (ICCA) latest global rankings.Furthermore, the country has retained its position as one of the world’s Top Five Convention Cities,...
Continue Reading • 2 Aug 2011