Sim Lian launches Centrale 8 at Tampines
Mainboard-listed Sim Lian Group Limited is launching Centrale 8 at Tampines today.Centrale 8 at Tampines is a public housing project developed under the Housing and Development Board’s (HDB) Design, Build and Sell Scheme (DBSS). The project covers a total land area of 227,461.6 sq...
Continue Reading • 16 Jun 2011
Govt considering new green belt
The possibility of a “Green Corridor” on the island’s north-south strip of railway land is being seriously considered, according to Brigadier-General (NS) Tan Chuan Jin, Minister of State for National Development.BG Tan has revealed in a Facebook post that the Urban...
Continue Reading • 16 Jun 2011
Private home sales fall 12% in May
The monthly sales volume for private residential units, excluding executive condominiums (EC), dropped 12 percent in May to 1,575 units.Mohamed Ismail, Chief Executive of PropNex, said the last round of cooling measures announced on 13 January “have certainly impacted buyer confidence, as...
Continue Reading • 16 Jun 2011
Mortgage approvals climb in Melbourne
Melbourne’s housing market has started showing signs of picking up, with new data revealing a 1.8 percent year-on-year increase in mortgage approvals in the first four months of 2011.According to data from the Australian Bureau of Statistics, there were 51,150 commitments transacted during...
Continue Reading • 16 Jun 2011
Lian Beng to construct Waterfront Isle condo
Singapore-based building construction group Lian Beng has secured a S$128.8 million contract to build the Waterfront Isle condo project at Bedok Reservoir Road, boosting its order book to around S$941 million.The company said the contract was awarded to its subsidiary, Deenn Engineering by FCL...
Continue Reading • 16 Jun 2011
HK buyers dominate London's overseas property sales
Hong Kong investors have seized a growing share of newly developed homes in London over the past 12 months, strengthening their position as the largest group of foreign buyers in the market.According to property firm Knight Frank, 24 percent of off-plan buyers in the 11 boroughs of inner London...
Continue Reading • 16 Jun 2011
Australand acquires Sydney site for residential project
Australand, the Australian unit of Southeast Asia’s largest property developer, CapitaLand, has acquired a residential site in Sydney for A$35 million (S$46 million), in a joint venture (JV) deal with a fund managed by LaSalle Investment Management.“Australand is pleased to have...
Continue Reading • 16 Jun 2011
Far East Organization unveils Woodhaven project
Far East Organization (FEO) has unveiled its Woodhaven project, the first integrated residential development in Singapore, in an exclusive preview that began on 1 June 2011.Located at Woodgrove Avenue in Woodlands, Woodhaven comprises luxurious condominium apartments, stylish strata townhouses...
Continue Reading • 15 Jun 2011
Singapore Tenancy Management Group nabs 2 awards
Lettings agency Singapore Tenancy Management Group Ltd (STMG) was awarded the Best Lettings Agency for the Asia Pacific Region award and a five-star award in the Best Lettings Agency Singapore category at the Asia Pacific Property Awards 2011.“This is a huge honour for us and is just reward...
Continue Reading • 15 Jun 2011
HK property measures fail to deter developers
Property developers seem unfazed by the recent measures implemented by the Hong Kong government to cool the property market.“The government is running out of options to influence the market. The new measures should not pose a problem to the market,” said Cheng Yu-tung, Chairman of New...
Continue Reading • 15 Jun 2011
Dubai halts hundreds of property projects
Dubai has cancelled 217 property projects in a two-year review by the Real Estate Regulatory Agency.According to a Dubai government bond prospectus, 237 of over 450 reviewed projects will be completed. It did not, however, name which projects have been cancelled.The document showed that the value...
Continue Reading • 15 Jun 2011
Aussie mortgage troubles in Queensland
A recent mortgage report has listed Queensland as the worst performing Australian state in terms of mortgage debts.Global ratings agency Finch noted that one in 50 Queensland mortgage holders were unable to pay their mortgage on time.The report showed that Logan City has the highest home loan...
Continue Reading • 15 Jun 2011
Construction boom to see sudden fall
The construction boom in Singapore is looking less promising for contractors who face higher material costs, squeezed margins and labour shortage, as an increasing number of construction companies compete to reap the spoils.Fear also looms in the construction sector that the increase in demand...
Continue Reading • 15 Jun 2011
Prices at Park Infinia hit S$2180 psf
Selling prices at Park Infinia at Wee Nam reached a historic record of S$2,180 psf last month, the second time prices at the three-year old condominium along Lincoln Road have exceeded the S$2,000 psf mark.In April, a 560-sq ft unit on the 30th floor was sold for S$1.13 million (S$2,019...
Continue Reading • 15 Jun 2011
HDB awards Buangkok site to Qingdao Construction
The Housing and Development Board (HDB) has announced that it has awarded a site at Buangkok Drive / Sengkang East Drive to Qingdao Construction (Singapore) Ltd, after it submitted the highest bid of S$247 million (S$4,211.60 psm) in a public tender that closed on 2 June 2011.Launched for sale on...
Continue Reading • 15 Jun 2011
Celebs snap up units at Twin Peaks
Superstar Jackie Chan and singer-songwriter Wakin Chau have acquired several apartments in Overseas Union Enterprise’s (OUE) Twin Peaks condo at Leonie Hill Road.According to a report by The Business Times, Chan has purchased two units on one of the lower floors of the 35-storey project,...
Continue Reading • 15 Jun 2011
Khaw blamed for slower home sales last week
Property developers and agents reported slower home transactions in the previous week, after National Development Minister Khaw Boon Wan made cautionary remarks on his blog.“Primary market sales (units sold by developers) softened a little bit last week due to the June school holiday season...
Continue Reading • 14 Jun 2011
Famed economist warns of global downturn
Renowned economist Nouriel Roubini has revealed that global economies are experiencing more than just a “soft patch”, as problems in the US real estate market and the impasse over its budget shortfall have induced pessimism.Mr. Roubini also mentioned that approximately half of all...
Continue Reading • 14 Jun 2011
Singapore-listed property stocks fall
Singapore-listed real estate stocks with major exposure to the Chinese market have fallen, as data from China raised concerns that a slowdown in its economy could lead to reduced demand for homes.The lending in China dropped in May and money supply rose at the slowest rate since 2008, suggesting...
Continue Reading • 14 Jun 2011
Low Keng Huat's Q1 profit climbs 14% to S$21m
Low Keng Huat (Singapore) has announced that its net profit in the first quarter rose 14 percent to S$21 million, despite a 56 percent decline in group revenue.The company said its revenue for the quarter dropped to S$39.80 million, from S$89.82 million over the same period last year. This was...
Continue Reading • 14 Jun 2011