LaSalle, Toga to jointly develop Sydney residential project
International investment firm LaSalle Investment Management and Australia's largest privately owned company Toga Group will co-invest in a major residential scheme at Macquarie Park in Sydney. The project will comprise 561 apartment units in five stages that will be developed over five...
Continue Reading • 14 Jul 2011
S'pore economy slows down in Q2 as manufacturing slumps
Singapore’s economy grew 0.5 percent year-on-year in the second quarter, lower than the 9.3 percent growth experienced in the previous quarter, according to the advance estimates from the Ministry of Trade and Industry (MTI).Based on a seasonally-adjusted quarter-on-quarter annualised...
Continue Reading • 14 Jul 2011
HK mass-market home sales may drop in H2
Mass-market home sales in Hong Kong may slip in the second half of this year, due to a series of property measures implemented by the government, said Jones Lang LaSalle (JLL).Joseph Tsang, Managing Director at JLL, also said that mass-market home prices will remain steady due to a lack of...
Continue Reading • 14 Jul 2011
Aberdeen Asia launches third closed-ended property fund of funds
Aberdeen Asset Management Asia launched its third closed-ended property fund of funds for institutional investors on 12 July.Aberdeen Investment Management has set its goal of raising US$300 million to US$400 million from investors worldwide to be added to the approximately US$1 billion it...
Continue Reading • 13 Jul 2011
Asian Reits taking the lead
Asian real estate investment trusts (Reits) have surpassed global Reits by three times in the past five years, with Malaysian Reits providing an average return of between seven and eight percent from Asia Pacific property trusts, according to Ng Chze How, director of retail funds (fund...
Continue Reading • 13 Jul 2011
Social media a new tool for property firms
The advent of social media platforms has led to a significant change in the way real estate groups reach out to their customers, as most companies are now available on various online platforms, including Twitter, Facebook, YouTube and Flickr.“The proliferation of social media has opened up...
Continue Reading • 13 Jul 2011
S'pore ranks 8th most expensive expat city
Singapore has been ranked the eighth most expensive city for expats globally, overtaking Hong Kong, which took the ninth spot, according to a survey conducted by Mercer.The human resource firm said the strengthening of the Singapore dollar has pushed the country up three places to the top 10 list...
Continue Reading • 13 Jul 2011
Global property investment up 7%
Global direct property investment volumes in the second quarter totalled more than US$101 billion, an increase of seven percent from Q1 2011 and a whopping 47 percent from Q2 2010, according to latest research conducted by Jones Lang LaSalle (JLL).“The upswing in activity continues, with...
Continue Reading • 13 Jul 2011
Australand plans to delist from SGX
Australand Property Group, a wholly-owned subsidiary of CapitaLand, has announced that it will be delisting from the Singapore Exchange (SGX) by 11 October 2011. The developer of retail and commercial land projects chose to delist after deliberating on the costs and benefits of operating two...
Continue Reading • 13 Jul 2011
Big banks compete to offer best home loan rates
Two Singapore banks have been offering home loan rates for as low as 0.2 percent on selected properties.Some analysts said the moves by the two banks – United Overseas Bank (UOB) and DBS Bank – reflect intensifying competition in the mortgage market to maintain high loan volume amid...
Continue Reading • 13 Jul 2011
The Residences at St Regis Bangkok welcomes first resident
The Residences at St Regis Bangkok has welcomed Khun Somsak Vayakornvichitr, the first owner of one of the development’s luxurious penthouses.Located along Rajadamri Road, The Residences at St. Regis Bangkok comprises 53 private residences which include three- and four-bedroom units, deluxe...
Continue Reading • 13 Jul 2011
UK new mortgages, home sales up slightly
The number of new mortgages and home sales in the UK grew slightly in May, according to the Council of Mortgage Lenders (CML).Loans for home purchases and remortgaging both increased slightly. There were 41,500 loans for home purchases, an increase from 40,800 in April, though the total loan...
Continue Reading • 12 Jul 2011
Singapore Business Federation presents green awards
The Singapore Business Federation (SBF) awarded nine companies with the Singapore Sustainability Award for their green efforts on 11 July.JTC Corporation, Sembcorp Industries and DHL won the enterprise sustainable business award, while Greenpac, Rigel Technology and Siloso Beach Resort were...
Continue Reading • 12 Jul 2011
Peace Centre site up for en bloc again
Peace Centre and Peace Mansion at 1 Sophia Road have been put up for collective sale for the third time, at a reduced asking price of S$675 million.This works out to around S$1,306 psf ppr, including an estimated S$145 million upgrading premium to top up the existing lease to a 99-year tenure,...
Continue Reading • 12 Jul 2011
MDIS launches S$120m integrated campus
The Management Development Institute of Singapore (MDIS) has officially launched its S$120 million integrated campus at Stirling Road, with Singapore President S R Nathan gracing the event.The campus houses a new 15-storey hostel, which can accommodate nearly 1,700 students.With an S$80 million...
Continue Reading • 12 Jul 2011
CapitaLand bags green excellence award
CapitaLand, Southeast Asia’s largest property developer, has been named the Asia Pacific Green Builder of the Year at the first 2011 Frost & Sullivan Asia Pacific Green Excellence Awards.The awards showcase the best practices in “green” excellence and innovation across...
Continue Reading • 12 Jul 2011
Skyline Residences units snapped up
About 80 of the 100 units released at Skyline Residences, a 283-unit freehold condo in the Telok Blangah area, were snapped up during its preview last week, according to marketing agent Knight Frank.The average price of the units was between S$1,800 psf and S$1,900 psf, with the cheapest unit, a...
Continue Reading • 11 Jul 2011
S'pore property agents told to avoid operating in Malaysia
Singapore property agents have been advised to avoid doing business in Johor because they may be unfamiliar with Malaysian regulations and laws.Similarly, Malaysian real estate agents have been discouraged from looking for properties in neighbouring countries, particularly in Singapore.Loo Kung...
Continue Reading • 11 Jul 2011
All units in phase 1 of Thomson Grand sold out
The VIP preview of Cheung Kong’s Thomson Grand luxury condo received overwhelming response, with all 50 units taken up at prices between S$1,100 psf and S$1,600 psf for two- to four-bedroom units.The most expensive unit was snapped up at S$3.6 million, while 11 of the 22 strata terraced...
Continue Reading • 11 Jul 2011
HDB awards Punggol EC site to highest bidders
The Housing & Development Board (HDB) has announced its award of the tender for an Executive Condominium (EC) site at Punggol Way / Punggol Field to FCL Tampines Court Pte Ltd and Keong Hong Construction Pte Ltd.The two companies jointly submitted the highest bid of S$219.47 million in a...
Continue Reading • 11 Jul 2011