Koon Holdings acquires 51% share in GA Property
Dual-listed infrastructure construction and precast specialist Koon Holdings has announced the acquisition of a 51 percent share in GA Property Management, a privately held property investment holding firm, for S$3 million.Koon made the acquisition through a subscription agreement, as well as a...
Continue Reading • 4 Jul 2011
SLA, URA to conduct works on former KTM land
The Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) have announced their plans for the railway land formerly occupied by Keretapi Tanah Melayu (KTM).The Singapore Land Authority (SLA) will start the removal of tracks and ancillary structures of KTM railway, as well as...
Continue Reading • 4 Jul 2011
China's home prices to fall following latest measures
New measures to curb lending and the rising inventory relative to demand will force property developers to reduce home prices in mainland China from Q3 2011, according to Knight Frank.The international property consultant said that the supply of new homes in China’s 10 major cities will...
Continue Reading • 1 Jul 2011
Residential site at Choa Chu Kang attracts 5 bids
The Urban Redevelopment Authority (URA) closed the tender for a residential site at Choa Chu Kang Road / Phoenix Road, after receiving a total of five bids. The top bid was jointly submitted by Far East Civil Engineering (Pte) Limited and China Construction (South Pacific) Development Co Pte Ltd...
Continue Reading • 1 Jul 2011
Singapore's property auction sales hit S$41.38m in Q2
After a lacklustre beginning in Q1 2011, the Singapore real estate auction market experienced a stronger second quarter, according to Colliers International.The total value of properties sold increased by 49 percent quarter-on-quarter to S$41.38 million in second quarter this year.The increase in...
Continue Reading • 1 Jul 2011
PM Lee: KTM land deal is a win-win situation
The “amicable resolution” of the 20-year dispute over Malayan Railway (KTM) land in Singapore will enable both nations to move on to advance their various mutual interests, according to Prime Minister Lee Hsien Loong.PM Lee expressed his gratitude towards Malaysian Prime Minister...
Continue Reading • 1 Jul 2011
Australians advised to compare home loans
Australians with a good credit record and who have been consistent with repayments on their mortgages have been advised to compare home loans to see if they can get a better deal.Chris Acret, Managing Director of Smartline Personal Mortgage Advisers, said that lenders provide various products,...
Continue Reading • 1 Jul 2011
Auction property sales hit S$63.1m
Auction sales in Singapore have hit approximately S$63.1 million so far this year, down 27 percent compared to the S$87 million recorded in June 2010, according to a Jones Lang LaSalle (JLL) Auction House report.The number of mortgagee sales was less than half the total sales registered over the...
Continue Reading • 30 Jun 2011
New director for The Residences at St. Regis Bangkok
The Residences at St. Regis Bangkok recently announced the appointment of Gerald Hanna as its new Director of Residences.Launched in April 2011, the Residences will likely benefit from the broad five-star hotel experience that Hanna will bring.“I’m excited to introduce the signature...
Continue Reading • 30 Jun 2011
CEA issues new guidelines for real estate agents
The Council for Estate Agencies (CEA) has issued two new practice guidelines, one explaining the prescribed estate agency agreements for residential transactions and the other on ethical advertising within the industry, as part of its continued efforts to raise professionalism in the real estate...
Continue Reading • 30 Jun 2011
Millennium & Copthorne gets new CEO
Millennium & Copthorne Hotels Plc, a wholly-owned subsidiary of City Developments Ltd, has announced the appointment of Wong Hong Ren as its new Chief Executive Officer.Wong has been the group’s executive director and chief financial officer since April 2011 and was made non-executive...
Continue Reading • 30 Jun 2011
UK mortgage approvals rose 1% in May
The number of mortgage approvals in the UK increased by one percent to 45,940 in May, after sinking to a four-month low of 45,447 in April, revealed a Bank of England report.Some economists noted that mortgage approvals in May were still less than March’s 47,345. In addition, the figures...
Continue Reading • 30 Jun 2011
S'pore's property investments in Iskandar Malaysia to soar
Iskandar Malaysia’s economic corridor could see tremendous growth, as Singapore appears to be serious about investing in the special economic zone.According to a report by The Business Times, Iskandar Malaysia, pitched to investors as a great alternative to Singapore, is looking at...
Continue Reading • 30 Jun 2011
US mortgage fraud reports up 31%
The number of mortgage fraud reports in the US rose 31 percent in the first quarter, as many banks are taking another look at loan documents questioned by mortgage investors and insurers during the housing boom, according to a report.According to the US Treasury Department’s Financial...
Continue Reading • 29 Jun 2011
Resale property prices rise in Q2
Resale prices of private homes continued to rise at a faster pace in the second quarter, according to an analysis by DTZ Research.DTZ’s analysis showed that the average resale price of leasehold condos in suburban areas climbed 3.9 percent quarter-on-quarter in the second quarter, while...
Continue Reading • 29 Jun 2011
URA awards tender for 2 sites
The Urban Redevelopment Authority (URA) has awarded the tender for two land parcels, an industrial site at Irving Place and a residential plot at West Coast Link.The industrial site at Irving Place has been awarded to Oxley Vista Pte Ltd, after it submitted the top bid of S$43.4 million in a...
Continue Reading • 29 Jun 2011
GIC appoints two acting chairmen
The Government of Singapore Investment Corp (GIC) has announced two interim appointments to fill the position vacated by GIC Executive Director Tony Tan, who resigned to run for president.However, GIC noted that it will not rush to fill the senior position, as the state investment firm looks for...
Continue Reading • 29 Jun 2011
HDB launches tender for Punggol Field Walk residential site
A 99-year leasehold residential land site at Punggol Field Walk has been launched for sale through a public tender.The site has a total area of 14,344 sq m and a maximum allowable gross floor area (GFA) of 48,769.6 sq m. Zoned for condominium housing, the land parcel is expected to yield around...
Continue Reading • 29 Jun 2011
Minister Khaw chats with property leaders
National Development Minister Khaw Boon Wan has been conducting one-on-one meetings with developers and shareholders to get their take on the real estate market since he took over the housing portfolio in May, according to sources.The meetings aim to give Mr. Khaw a clear understanding of the...
Continue Reading • 29 Jun 2011
Interest rates to remain low this year
Homeowners can rest easy, as interest rates will remain low for at least another year, according to economists.But that also means bad news for savers, who will have to keep looking for higher returns.The possibility that interest rates may increase was raised after the Monetary Authority of...
Continue Reading • 28 Jun 2011