Wee Hur Construction secures S$109m HDB contract
Wee Hur Construction Ltd, a wholly-owned subsidiary of Wee Hur Holdings, has clinched a S$109 million contract from the Housing and Development Board (HDB) for the construction of Vista Spring @ Yishun in Yishun Neighbourhood 4.This comes after the company secured another contract in January, a...
Continue Reading • 6 Jun 2011
Average holding period of Q1 property subsales rises
The average holding period of subsales in Q1 2011 rose to its longest in at least three years, while the average increase from profitable subsale transactions in the quarter also hit its highest level since Q3 2008, according to a recent study of subsale activities by Savills Singapore.Often used...
Continue Reading • 6 Jun 2011
Pasir Ris site sold to highest bidder
The Housing and Development Board (HDB) has awarded the tender for a land parcel located at Pasir Ris Central / Pasir Ris Drive 1 to Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim Holdings Pte Ltd.Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim Holdings Pte Ltd submitted the highest bid of...
Continue Reading • 6 Jun 2011
US mortgage rates drop again
Mortgage rates experienced another plunge last week, amid unfavourable economic news in the US and abroad.The Bankrate.com’s national survey of large lenders revealed that the standard 30-year fixed-rate mortgage dropped six basis points this week to 4.69 percent.It added that the mortgages...
Continue Reading • 6 Jun 2011
ULI, CLC sign sustainable urban planning MOU
The Urban Land Institute (ULI) has inked a memorandum of understanding (MOU) with the Centre for Liveable Cities (CLC) in Singapore to jointly conduct global conferences, publications and other international knowledge-sharing events aimed at creating resilient cities for the future.Founded in...
Continue Reading • 6 Jun 2011
PropNex wins 2 property awards
PropNex Realty has won two of the Asia Pacific Property Awards 2011’s Highly Commended Awards.“I am proud to announce that PropNex Realty won in both categories submitted for the International Property Awards: Real Estate Agency and Real Estate Agency Marketing,” noted Adam Tan,...
Continue Reading • 6 Jun 2011
CapitaLand buys China firm for S$72m
CapitaLand Ltd, Southeast Asia’s largest property developer, has acquired a 100 percent stake in Wuhan Kaihui Real Estate Co. for approximately RMB361 million (S$72 million).The Chinese company owns a 124,737 sq m land plot in the Caidian District in Wuhan and plans to develop the land into...
Continue Reading • 6 Jun 2011
Laguna Park has more advantage over Pine Grove
Laguna Park has an advantage over Pine Grove, as one of the most expensive properties currently up for en bloc sale in Singapore, analysts said.The asking price for Laguna Park is around S$1.33 billion, while Pine Grove is up for tender for approximately S$1.7 billion. Analysts believe that...
Continue Reading • 3 Jun 2011
Keppel Land's Riviera Point 70% sold
Keppel Land Limited announced that it has sold more than 70 percent of the 193 units put up for sale during the soft launch of its Riviera Point project in District 7 in Ho Chi Minh City, Vietnam.The district’s tallest condominium development, it was jointly developed by Keppel Land...
Continue Reading • 3 Jun 2011
Public housing measures to have little short-term impact
Some private property investors are feeling anxious, a week after National Development Minister Khaw Boon Wan announced his plan to popularise public housing again, said Mr. Colin Tan, Head of Research & Consultancy at Chesterton Suntec International.“Can their nerves hold out for a...
Continue Reading • 3 Jun 2011
Kellock Lodge goes en bloc
Kellock Lodge, a 48-unit condominium development in River Valley Road, has been put up for en bloc sale with an indicative price of more than S$84 million (approximately S$1,383 psf ppr).CKS Property Consultants, the sole marketing agent for the property, said each household will likely receive...
Continue Reading • 3 Jun 2011
Sengkang site receives top bid of S$247m
The tender for a 99-year leasehold site at Buangkok Drive / Sengkang East Drive closed yesterday, with Qingdao Construction (Singapore) Pte Ltd offering the highest bid of S$247 million.“The top bid of S$247.0 million or S$391 psf/plot ratio is within market expectations,” said Mr. Li...
Continue Reading • 3 Jun 2011
Hongkong Land, Sabana REIT now part of global indices
Two Singapore-listed real estate stocks have been included in the global indices.Replacing the US-based ProLogis, Hongkong Land Holdings is now part of the Dow Jones Real Estate Titans 30 Index, while Sabana REIT has been included in the Morgan Stanley Capital International (MSCI) Global...
Continue Reading • 3 Jun 2011
Frasers to increase presence in Jakarta
Frasers Hospitality is increasing its presence in Jakarta with the planned launches of four Fraser-branded gold-standard service residences over the next three years, according to a report by The Business Times.“Indonesia has very strong fundamentals and has just unveiled an ambitious...
Continue Reading • 3 Jun 2011
UK mortgage approvals hit new low
The number of UK mortgage approvals dropped to its lowest level in four months, as increasing jobless claims undermined consumer confidence and an additional public holiday in April dampened home purchases.According to the Bank of England, mortgage approvals to buy homes dropped to 45,166 in...
Continue Reading • 3 Jun 2011
Credit Suisse's favourite property stock picks
International financial services group Credit Suisse has named Mapletree Commercial Trust and City Developments Limited (CDL) Hospitality Trust among its stock picks in the Singapore property sector, as the two companies are likely to be insulated from any slowdown in local gross domestic product...
Continue Reading • 3 Jun 2011
China home prices rise for 9th straight month
Home prices in China increased for the ninth consecutive month in May, as smaller cities resisted government efforts to curb the risk of a property bubble.SouFun Holdings Ltd reported that home prices increased 0.5 percent month-on-month in May. Of 100 cities monitored by SouFun, 76 cities...
Continue Reading • 3 Jun 2011
ONG&ONG wins top property awards
ONG&ONG Pte Ltd, a local multi-disciplinary design practice, has announced that four of its projects bagged various recognitions at the recently concluded 2011 Asia Pacific Property Awards.The company won the Best Property (single unit) award in the Singapore and Asia Pacific categories for...
Continue Reading • 2 Jun 2011
OCBC expands mortgage services in China
OCBC, Asia's leading financial services group, has revealed plans to launch a yuan-denominated mortgage service in its Chongqing branch by the third quarter this year, according to a Global Times report.Hu Linhua, General Manager of Consumer Financial Services at OCBC China, said the Chongqing...
Continue Reading • 2 Jun 2011
Savills hires new research head
International real estate advisor Savills has strengthened its Research & Consultancy team with the appointment of Alan Cheong as its new Head of Research & Consultancy for Singapore.“I’m delighted to welcome Alan to our team,” said Mr. Chris Marriott, Chief Executive of...
Continue Reading • 2 Jun 2011