Mainland buyers aggressively snapping up new HK homes
Wealthy mainlanders acquired as many as 60 units of a new housing project during the weekend, taking advantage of the yuan crest.Kerry Properties sold 195 units over the weekend at Lions Rise, its Wong Tai Sin residential project. Of these, 60 flats (over 30 percent) were sold to mainland buyers,...
Continue Reading • 9 May 2011
PM Lee: Govt will be more sensitive to Singaporeans' concerns
Economic growth remains fundamental in the agenda of the People’s Action Party (PAP), as it prepares the next government.“I don’t think that will change,” said Prime Minister Lee Hsien Loong, who is also the PAP's secretary-general, as he took note of the issues that...
Continue Reading • 9 May 2011
Asia's luxury home prices to remain stable in 2011
Luxury residential prices in Asia will likely remain stable or see slower growth this year.According to the latest Residential Index from Jones Lang LaSalle (JLL), average capital values climbed 1.8 percent quarter-on-quarter in Q1 this year, across monitored luxury residential markets in Asia,...
Continue Reading • 9 May 2011
GE results could unsettle S'pore market
The Singapore stock market can expect some negative impact from a more “pro-worker” position, which analysts anticipate the government to implement, after the ruling People’s Action Party’s (PAP) share of the popular vote fell to a historic low of 60.1 percent.Real estate...
Continue Reading • 9 May 2011
Awards for Singapore's top 10 architectural firms, property developers
BCI Asia honoured Singapore’s 10 most active architectural firms and property developers with the BCI Asia Top 10 Awards at the annual BCI Asia Awards ceremony, held on 6 May 2011 at the Marriott Hotel.The BCI Asia Top 10 Awards for 2011 in the property developers category were presented to...
Continue Reading • 9 May 2011
M&C's Q1 profit up 15.6% to S$28.5m
London-listed Millennium & Copthorne Hotels (M&C), a wholly-owned hotel unit of City Developments Ltd (CDL), has recorded a net profit of £14.1 million (S$28.5 million) in the first quarter, up 15.6 percent from last year’s £12.2 million (S$24.6 million).Q1 revenue...
Continue Reading • 9 May 2011
Wee Hur's Q1 profit jumps 90%
Construction and property developer Wee Hur Holdings has announced that its net profit in the first quarter jumped 90 percent to S$10.2 million, from $5.4 million a year ago, attributed to strong growth in its property development business.Revenue for the quarter also climbed 89 percent to S$55.3...
Continue Reading • 9 May 2011
CapitaLand names new COO
CapitaLand Limited, Southeast Asia’s largest real estate company, has appointed Lim Ming Yan as its new Chief Operating Officer (COO).Mr. Lim, who will continue his role as CEO of the Ascott Ltd, will lead several of CapitaLand’s key projects, including coordination across business...
Continue Reading • 9 May 2011
More Aussies defaulting on mortgages, says Westpac
More Australian customers are now defaulting on the payment of their home loans than in 2008, at the height of the economic crisis, according to mortgage lender Westpac.As of end-March this year, 1.5 percent of the mortgages approved by Westpac were over 30 days late on their repayments.Westpac's...
Continue Reading • 6 May 2011
China could extend property curbs to smaller cities
China may extend the implementation of property curbs to third and fourth-tier cities to contain the risk of property bubbles, after developers and investors flocked inland following the clampdown on property prices, according to the report of Shanghai Securities News.Beijing plans to expand the...
Continue Reading • 6 May 2011
Kerry Properties to release some 400 units in HK project for sale
Kerry Properties will release some 400 units in the Lions Rise residential project for sale and is confident that they will be sold out, allowing the developer to raise approximately HK$5 billion.Chu Ip-pui, Executive Director of Kerry Properties, revealed that 350 to 400 units will be released...
Continue Reading • 6 May 2011
Parkway Life REIT's Q1 gross revenue up 15.2%
Parkway Life REIT (PLife REIT) achieved a 15.2 percent year-on-year increase in gross revenue to S$21.5 million for the first quarter ending 31 March, on the back of higher rent from its Singapore properties and revenue contributions from new nursing homes in Japan purchased last year.PLife...
Continue Reading • 6 May 2011
Ascott expands in Qatar with second property
The Ascott Ltd (Ascott), CapitaLand’s wholly-owned subsidiary, has secured a deal to manage a 229-unit premier serviced residence in Doha.Ascott Doha will be the company’s second property in the capital city of Qatar and is set to open in the second half of this year.“Qatar...
Continue Reading • 6 May 2011
Oxley Holdings' Q3 profit soars 686% to S$5.5m
Property developer Oxley Holdings has achieved a net profit of S$5.5 million in the third quarter, up 686 percent from $0.7 million in the previous quarter.Revenue for the quarter climbed 275 percent to $22.5 million, from $6 million in the previous quarter. This was mainly attributed to...
Continue Reading • 6 May 2011
Mah calls NSP's housing proposals naïve
National Solidarity Party (NSP) Towns will have flats that cost the same, look the same and will never grow in value, said National Development Minister Mah Bow Tan at a rally.“Residents of Tampines, do you want Tampines Town to be NSP Town? A town that is built on ideas that are...
Continue Reading • 6 May 2011
URA launches 2 residential sites for sale
The Urban Redevelopment Authority (URA) has released two residential sites at West Coast Link / West Coast Crescent and Choa Chu Kang Road / Phoenix Road for sale through public tender.Located in the western part of Singapore, both land parcels were launched for sale under the confirmed list of...
Continue Reading • 6 May 2011
St. Regis Bangkok unveils completely customised residence
Starwood Hotels & Resorts Worldwide Inc. and Minor International PCL have announced the launch of a fully customised residence at The Residences at The St. Regis Bangkok, designed in partnership with Infine design and Lotus Arts de Vivre collection.Launched on 1 April 2011, the highly...
Continue Reading • 5 May 2011
LaSalle buys Novotel Melbourne for A$204 million
LaSalle Investment Management, on behalf of LaSalle Asia Opportunity Fund III, has inked an agreement with Thakral Holdings Group to acquire the 380-room Novotel Melbourne on Collins Hotel and the adjacent 7,797 sq m Australia on Collins Shopping Centre for A$204 million.“We have been...
Continue Reading • 5 May 2011
Roxy-Pacific launching two projects in second half of 2011
Roxy-Pacific Holdings is planning to launch two property projects in the second half of 2011. One of the two developments is a five-storey freehold residential project located at Toh Tuck Road, which will comprise more than 100 small apartments.The other project will involve alteration works to...
Continue Reading • 5 May 2011
5 new condo projects launching this month
Two condominium projects, The Peak at Cairnhill and Auralis at East Coast, are among the first condominium developments to be launched this month.The Peak, which was launched on 2 May, is a 15-storey residential development which comprises 52 units. It is located near Orchard Road and considered...
Continue Reading • 5 May 2011