US mortgage rates decrease
Mortgage rates in the US fell last week, with the average rate on 30-year fixed-rate mortgages falling to 4.78 percent, a slight decline from the prior week’s 4.8 percent average and 5.06 percent in 2010, according to Freddie Mac’s weekly mortgage rates survey.Meanwhile, rates on...
Continue Reading • 29 Apr 2011
Hung Hom land auction boosts confidence in HK property market
Strong response to the year’s first land auction has boosted confidence in Hong Kong’s real estate market.Several deals immediately after Wednesday’s sale of the 20,470 sq ft Hung Hom plot represented gains in prices.For example, a unit at Harbourfront Landmark in the same...
Continue Reading • 29 Apr 2011
Tuan Sing's Q1 net profit rises to S$5.5m
Mainboard-listed Tuan Sing Holdings has posted a net profit of S$5.5 million in the first quarter, with Q1 revenue in its property portfolio swelling to S$8.1 million, from S$5.2 million over the same period last year.The company said its overall revenue in the first quarter also climbed 49...
Continue Reading • 29 Apr 2011
Hillview site tender attracts 12 bids
A public tender for a land parcel at Hillview Avenue that could yield up to 400 housing units and some retail space has attracted a total of 12 bids.The highest bid came from Tuas Technology Park Ltd, offering S$289.8 million (approximately S$672.60 psf ppr) for the site, which was launched for...
Continue Reading • 29 Apr 2011
S'pore properties still too expensive, says PropertyGuru survey
Many Singaporean consumers are doubtful about the real estate market, with many adopting a “wait-and-see” approach towards property acquisitions in the following 12 months, according to PropertyGuru’s recent Affordability Sentiment Survey.According to the survey, 71 percent of...
Continue Reading • 29 Apr 2011
Allgreen Q1 net profit more than doubles to $84.5m
Singapore property developer Allgreen Properties has recorded robust earnings in the first quarter, despite the series of cooling measures implemented by the government.The company has posted a 56 percent increase in revenue for the first quarter, up to S$242.8 million from S$155.9 million over...
Continue Reading • 29 Apr 2011
NUS study says latest property measures more effective
The two most recent sets of property cooling measures announced on 30 August 2010 and 13 January 2011 may have been more effective in controlling the prices of completed non-landed private homes than the two earlier sets of measures implemented in September 2009 and February 2010, according to a...
Continue Reading • 29 Apr 2011
Mah criticises NSP housing proposal
Real estate has entered the political battle during Singapore’s election period, as Minister for National Development Mah Bow Tan recently criticised an Opposition party’s suggestion of providing cheaper housing.In opposing the Tampines Group Representation Constituency (GRC), the...
Continue Reading • 29 Apr 2011
Ascott appoints new Regional General Manager
The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence business unit, has appointed Tan Boon Khai as Regional General Manager for both Singapore and Malaysia.Mr. Tan will be responsible for driving Ascott’s growth and ensuring operational effectiveness to enhance...
Continue Reading • 29 Apr 2011
Smaller banks preferred for Aussie borrowers
Smaller domestic banks are becoming popular among Australians seeking mortgages, according to Scott Manning, a bank specialist at JP Morgan who believes that larger banks are witnessing a decline in demand for home loans.He said that consumers are opting for mortgages with smaller lenders rather...
Continue Reading • 28 Apr 2011
HK land auction smashes forecasts, fails to cool public anger
Hong Kong’s recent land auction has beaten pre-sale projections, invalidating government efforts to curb the rising prices and cool public resentment at the city’s sizzling real estate market.Hong Kong has launched a series of land auctions over the past 18 months and amid warnings of...
Continue Reading • 28 Apr 2011
New sports institute to be established in Iskandar, Malaysia
The Johan Cruyff Institute for Sports Studies (JCI), Education@Iskandar Sdn Bhd (EISB) and the Pelorus Dutch Sports Technology (PDST) Sdn Bhd have inked a memorandum of understanding (MOU) to establish the Johan Cruyff Institute Malaysia (JCIM) in EduCity, Iskandar Malaysia (EduCity@Iskandar).A...
Continue Reading • 28 Apr 2011
CBRE sees strong Q1 revenue growth
Commercial property services company CB Richard Ellis (CBRE) has reported strong earnings and revenue growth in the first quarter of this year, boosted by an improved credit market and a rebound in commercial property sales and leasing.The firm posted a 16 percent increase in revenue to US$1.2...
Continue Reading • 28 Apr 2011
Koon Holdings secures S$16.3m in precast contracts
Infrastructure, construction and precast company Koon Holdings, through its wholly-owned subsidiaries Econ Precast Ltd and Contech Precast Ltd, has secured new precast projects worth S$16.3 million.Under the contract, Econ and Contech will supply, design and deliver precast components for public...
Continue Reading • 28 Apr 2011
MAS projects S'pore GDP growth at higher end of 4 - 6% forecast
Singapore’s economy is expected to grow at the higher end of the official four to six percent forecast this year, according to the Monetary Authority of Singapore (MAS), in its recent half-yearly macroeconomic review.The result implies that there is adequate momentum for the world economy...
Continue Reading • 28 Apr 2011
CDL Hospitality Trusts Q1 results strong
Increasing acquisitions and visitor arrivals helped boost CDL Hospitality Trusts' (CDLHT) results in the first quarter ended 31 March.CDLHT, a stapled group comprising CDL Hospitality Business Trust and CDL Hospitality Real Estate Investment Trust (H-REIT), recorded a gross revenue growth of 21.4...
Continue Reading • 28 Apr 2011
OCBC Malaysia offers loan for London homes
OCBC Bank (Malaysia) Bhd revealed that it will provide a new mortgage loan facility to help customers finance their residential property purchases in prime sections of central London.With the launch of the new scheme, customers can now invest in London properties with peace of mind, knowing that...
Continue Reading • 27 Apr 2011
Starhill Global REIT's Q1 DPU at record 1.07 cents
Starhill Global REIT’s Malaysian and Australian purchases in 2010 has helped buoy Q1 income distribution for unitholders.Income available for distribution increased 27.9 percent to S$24 million. Of this, S$20.8 million was meant for distribution to unitholders, an increase of 13.1 percent....
Continue Reading • 27 Apr 2011
CDL expands into Asia
Singapore property developer City Development Ltd (CDL) plans to develop residential projects in Thailand for THB18 billion (US$600 million), as well as take over hotels and resorts in the country and other Asian markets.Suchad Chiaranussati, Director of M Residence, a wholly-owned subsidiary of...
Continue Reading • 27 Apr 2011
URA grants provisional approval for new projects
The Urban Redevelopment Authority (URA) has granted provisional approval for several projects across various property segments, including industrial, commercial, residential and hotel developments in the first quarter of 2011.Hong Fok Corporation unit has obtained approval to develop an office...
Continue Reading • 27 Apr 2011