Singapore inflation a close second to Malaysia
Rising global inflation is one of the major challenges for businesses struggling to recover from the economic downturn, according to the latest Global Economic Conditions survey of finance professionals.In Singapore, 69.1 percent of 97 accountants surveyed by the Association of Chartered...
Continue Reading • 20 Apr 2011
Ascott acquires Frankfurt property, furthers German expansion
The Ascott Limited (Ascott) has extended its reach to Frankfurt, Germany’s transportation and financial centre. The company will invest around S$50 million in a turnkey serviced residence which is set to launch in 2014.This follows Ascott’s expansion in Hamburg, Germany’s second...
Continue Reading • 20 Apr 2011
Residential property prices in KL to rise 10%
Prices of residential properties in Kuala Lumpur are expected to increase 10 percent this year, given the higher replacement costs and rebound in transaction volume, according to AmResearch.The research unit of the AmInvestment Bank group, one of Malaysia’s largest investment banks, noted...
Continue Reading • 20 Apr 2011
SGX Q3 earnings slip 10.2%
Singapore Exchange (SGX) recorded a net profit of S$67 million for the third quarter, down 10.2 percent from the previous year, mainly attributed to a slight boost in its securities clearing, which is SGX’s core business activity.In contrast, Q3 revenue rose 10.1 percent to S$169 million,...
Continue Reading • 20 Apr 2011
Keppel Land's Q1 profit jumps 45.5%
Keppel Land, a wholly-owned subsidiary of Keppel Corporation, has posted a net profit of S$92.1 million in the first quarter, up 45.5 percent from S$63.3 million a year ago, attributed mainly to the strong revenue from home sales in Singapore.Revenue for the quarter was also boosted by higher...
Continue Reading • 20 Apr 2011
Singapore general election set for 7 May
President S R Nathan announced yesterday, through the government gazette, that the 11th Singapore Parliament has been dissolved to make way for the upcoming elections on 7 May 2011.Overall, around 2,311,582 Singaporeans are eligible to vote in the upcoming 2011 general election, compared to the...
Continue Reading • 20 Apr 2011
Maybank launches two new mortgage products
Maybank Singapore has launched two new innovative mortgage products — hybrid rate and ceiling rate — to draw home buyers seeking to benefit from the current low interest rates.While a hybrid rate home loan caters to both fixed and floating mortgage rates, it differs from the common...
Continue Reading • 19 Apr 2011
Dip in Mainland home prices more widespread
More Chinese cities witnessed home prices drop last month, according to official data, indicating that the government’s cooling measures could actually be taking effect.The National Bureau of Statistics data, which was released a day after authorities moved to further restrict lending by...
Continue Reading • 19 Apr 2011
Ascott secures Macau contract
The Ascott Limited, a wholly-owned serviced apartment business unit of CapitaLand, has secured a contract from China Overseas Property to manage its Macau project.The project, to be named Ascott Paragon Macau, will become Ascott's maiden project in Macau.“As the first international serviced...
Continue Reading • 19 Apr 2011
Hedges Park condo receives strong response
The recently launched Hedges Park condominium received strong response for the 130 units it released over the weekend.The apartments, comprising 200 one- to four-bedroom units sized between 484 and 1798 sq ft each, were sold at an average price of S$850 psf.According to Hong Leong Group...
Continue Reading • 19 Apr 2011
8 Courtyards 72% sold, more launches to follow
8 Coutyards @ Yishun, a joint venture (JV) project between Far East Organization (FEO) and Frasers Centrepoint, sold 202 of the 280 units (approximately 72%) released during its preview, with an average price of S$795 psf.The development comprises two retail shops and 654 residential units spread...
Continue Reading • 19 Apr 2011
CityDev clinches S$1.6b loan facility
Singapore property developer City Developments Ltd (CDL) has announced that its joint venture (JV) has clinched a S$1.6 billion loan facility.The five-year S$1.6 billion secured term loan will be used to refinance the existing S$800 million land loan on the South Beach site, as well as to finance...
Continue Reading • 19 Apr 2011
Tampines Central 7 site sold for S$278.9m
A land parcel at Tampines Central 7 has been awarded to Sim Lian Land Ltd, after it offered the highest bid of S$278.9 million in a public tender that closed 14 April.The 99-year leasehold site, which was launched for sale on 23 February, has a total area of 22,000 sq m and a maximum gross floor...
Continue Reading • 19 Apr 2011
April launches accelerated after sales increase
Property developers continue to drive out new launches in April, after hitting a 25 percent increase in home sales in March. However, analysts believe that in some cases, home sales have been somewhat slower than usual, as price resistance sets in.Tripartite Developers sold 130 of the 200...
Continue Reading • 19 Apr 2011
US mortgage rates rise for 4th straight week
Long-term mortgage rates in the US continued to gradually increase, with the average rate on 30-year fixed-rate mortgages surging for the fourth straight week.Freddie Mac noted that a 30-year fixed-rate mortgage averaged 4.91 percent in the week ending 14 April, an increase from 4.87 percent in...
Continue Reading • 18 Apr 2011
IKEA to launch new Summer Collection
IKEA will offer its Swedish Summer Collection, with the affordable and colourful new IKEA Summer Range, starting end-April. In Singapore, the package will be available only this summer season and will not be re-ordered once the stock is sold out.The new collection will be offered in IKEA stores...
Continue Reading • 18 Apr 2011
Crowne Plaza Changi Airport sold for S$299.5m
Mainboard-listed Overseas Union Enterprise (OUE), through its wholly-owned subsidiary Imperial Development Pte Ltd, has acquired the 320-room Crowne Plaza Changi Airport from LC Development and its partner LaSalle Asia Opportunity II SARL for S$299.5 million.Under a signed deal, Imperial...
Continue Reading • 18 Apr 2011
Tianjin Eco-city signs mega investment deals
Sino-Singapore Tianjin Eco-City has signed six new investment deals, which effectively resulted in approximately 500 million yuan (S$95.2 million) in new investments.Singapore Senior Minister Goh Chok Tong witnessed the signing ceremony with He Lifeng, Deputy Secretary of Binhai New Area Party...
Continue Reading • 18 Apr 2011
Hougang HUDC flats to be privatised
Seven blocks of Housing and Urban Development Company (HUDC) flats in Hougang will be privatised, after residents voted strongly for the move.The blocks to be privatised include blocks 344 to 350 in Hougang Avenue 7.In the mandate exercise conducted in February, 81.5 percent (around 233) of 286...
Continue Reading • 18 Apr 2011
Hoi Hupp's Questa condo 82% sold
Hoi Hupp’s Questa condominium in Dunman Road has sold 82 percent (100 units) of its 122 units released for sale by end-March.According to data released by the Urban Redevelopment Authority (URA), this was the highest number of units sold among eight new condominiums previewed last...
Continue Reading • 18 Apr 2011