Another Sengkang site goes on sale
The Housing Development Board (HDB) has released a residential site at Sengkang Square / Compassvale Drive for sale under the reserve list of the 1H2011 Government Land Sales (GLS) Programme.Located opposite Sengkang Town Centre, the 99-year leasehold site has a total area of 21,472 sq m and a...
Continue Reading • 6 Apr 2011
China struggles to reduce housing prices
China faces a significant challenge, as local governments are having difficulty rolling out home price control targets required by the central government, according to local news agency Xinhua.“Local governments have to make a tough choice between netting revenues from selling land to...
Continue Reading • 6 Apr 2011
Are rising home prices bad for Singapore?
Singapore’s increasing home prices, poor locations and limited choices are becoming nagging issues that will no doubt be highlighted in the upcoming election.National Development Minister Mah Bow Tan, who is in charge of Singapore’s public housing, is aware that he is in the hot...
Continue Reading • 6 Apr 2011
Accor launches second ibis hotel in Singapore
International hotel group Accor has officially launched ibis Novena, its second hotel in Singapore. “The opening of the second ibis hotel in Singapore marks another important milestone for the ibis brand in this part of the world,” said Michael Issenberg, Chairman and Chief Operating...
Continue Reading • 6 Apr 2011
UK mortgage pay-off sets new record
Home owners in the UK settled more of their mortgage loans last year than they had in any other single year, according to figures released by the Bank of England.Mortgage borrowers returned over £24 billion to lenders in 2010, the highest record since it started in 1970.The figures include...
Continue Reading • 5 Apr 2011
HK to launch 2,689 flats this month
At least four new property projects are expected to be sold in Hong Kong this month, amounting to 2,689 flats for sale.Developed by Kerry Properties, Lions Rise in Wong Tai Sin will offer 968 flats, the largest number of units to be offered in the Hong Kong property market. The flats range in...
Continue Reading • 5 Apr 2011
Global crisis affects Singapore's economy
Singapore’s economy is expected to increase by a mere six percent in the first quarter, due to the political turmoil in the Middle East and the Japan disaster.According to Chua Hak Bin, an economist from Bank of America Merrill Lynch, global crises, such as the trouble in numerous Arab...
Continue Reading • 5 Apr 2011
Jones Lang LaSalle named one of the world's most ethical companies
Jones Lang LaSalle (JLL), the world’s leading real estate services company, has been named one of 2011’s “World’s Most Ethical Companies” by the Ethisphere Institute.This is the fourth consecutive year that JLL has been recognised by Ethisphere, an organisation...
Continue Reading • 5 Apr 2011
Haig Mansions goes on sale
Haig Mansions, a 16-unit apartment block on Haig Road, has been put up for sale with an asking price of S$21 million, or about S$746 psf ppr.The freehold development site has a land area of 20,226 sq ft, with a gross plot ratio of 1.4 and an allowable height of up to five storeys. Based on the...
Continue Reading • 5 Apr 2011
Fortredale reportedly goes for record S$65 million
Property insiders claim that the 23,020 sq ft freehold condo Fortredale at Tanjong Rhu has been sold for approximately S$65 million, or about S$1,342 psf ppr.The alleged purchaser is a low-profile Chinese developer, which is also building a project in the Balestier area.The collective sale of...
Continue Reading • 5 Apr 2011
Freehold site in District 19 up for tender
A 28,676 sq ft freehold residential site at 28 Lim Tua Tow Road has been launched for sale with an indicative price of S$26 million, or a land rate of approximately S$797 psf ppr, inclusive of an estimated Development Charge (DC) of S$6 million.Savills Singapore, which is marketing the property,...
Continue Reading • 5 Apr 2011
Pullman launches new China resort
Pullman, the Accor Group’s luxury five-star hotel brand, has announced the official launch of the Pullman Lijiang Resort & Spa in China’s southwest Yunnan Province. The new property is Pullman’s fourth resort in China, with two in Sanya and one in Zhangjiajie.“We are...
Continue Reading • 5 Apr 2011
Tulip Garden collective sale fizzles
Tulip Garden was set to be the third-largest en bloc sale in Singapore, with a reserve price of S$650 million.However, after the 31 March deadline, no developer has signed for the 164-unit Farrer Road condominium.Launched in December, the tender for the 316,708 sq ft property closed on 20...
Continue Reading • 4 Apr 2011
St. Regis' Bangkok hotel launches butler services
Starwood Hotels & Resorts Worldwide, Inc has launched its first St. Regis hotel in Thailand — The St. Regis Bangkok.Located on the prestigious Rajadamri Road and developed by Rajadamri Lodging Limited, the new hotel will provide a new standard of timeless sophistication and refined...
Continue Reading • 4 Apr 2011
Vietnam a favourite among Singapore firms
Vietnam, Malaysia and Indonesia are among Singaporean investors’ most preferred investment spots within Southeast Asia, said a new survey.Of the 120 senior and middle managers polled at Singapore-based companies, 49 percent said that their firms planned to invest or grow investments in...
Continue Reading • 4 Apr 2011
Henderson Land Development eyeing HK$3b in property sales
Henderson Land Development expects a revenue of almost HK$3 billion from property sales this year.John Yip Ying-chee, Executive Director of Henderson, said the company has 1.76 million sq ft of property for sale in Hong Kong. If it is sold at HK$10,000 psf, it will produce approximately HK$17.6...
Continue Reading • 4 Apr 2011
London's OneSE8 launches in Singapore
St. James, London’s leading residential developer, unveiled its OneSE8 project during an exhibition held from 1 to 3 April at the Hilton Hotel. The event was to provide Singaporean investors the opportunity to invest in one of the world’s most famous residential markets.Situated in...
Continue Reading • 4 Apr 2011
Choa Chu Kang Drive site awarded to Camborne Developments
The Housing Development Board (HDB) has awarded an executive condominium (EC) site at Choa Chu Kang Drive to Camborne Developments.The developer offered the highest bid of S$170.10 million for the site in a public tender that closed on 22 March. This works out to around S$321 psf ppr and...
Continue Reading • 4 Apr 2011
Q1 resale property prices soften
The impact of the cooling measures implemented by the government in August 2010 and January 2011 have become clear from the Q1 2011 flash estimate results released by the Urban Redevelopment Authority (URA) and Housing Development Board (HDB).The URA’s Price Index and HDB’s Resale...
Continue Reading • 4 Apr 2011
Bartley site sold for S$413 million
A land parcel at Bartley Road / Lorong How Sun was jointly acquired by Intrepid Investments Ltd, Sunmaster Holdings Ltd and TID Residential Ltd, in a public tender that closed on 30 March.The consortium offered the highest bid of S$413.27 million, which translates to around S$621 psf ppr and a...
Continue Reading • 4 Apr 2011