Singapore ranked top for mergers and acquisitions in SE Asia
Singapore has been ranked the most targeted nation for mergers and acquisitions (M&A) in Southeast Asia, with a total M&A volume of US$4.5 billion, or about 40 percent of the total M&A volume in the region, according to Dealogic.The global investment banking and capital markets...
Continue Reading • 14 Mar 2011
Heeton-led consortium to acquire Camay Court
A consortium including Heeton Holdings, KSH Holdings and TEE International has entered into a private agreement to buy Camay Court at Lorong M, Telok Kurau Road for S$30.5 million.“Camay Court sits on the quaint and serene part of Telok Kurau, mere minutes away from the Siglap park...
Continue Reading • 14 Mar 2011
Pine Grove's high DC may discourage buyers
The S$460 million development charge (DC) for Pine Grove, which was launched for collective sale last week, may deter potential buyers.The DC for the Pine Grove site is approximately 9.5 percent higher, in line with the rate increases announced recently, said many property analysts. They noted...
Continue Reading • 14 Mar 2011
Changes to Conveyancing Act will safeguard clients' funds
The proposed changes to the Conveyancing Act introduced yesterday by Law Minister K. Shanmugam will make it more difficult for conveyancing lawyers to make off with their clients’ funds.Once the changes are approved, lawyers will be prevented from receiving and holding conveyancing money...
Continue Reading • 11 Mar 2011
Thailand's Pruksa set to launch slew of new projects
Thailand’s Pruksa Real Estate plans to lead the detached homes market in two years, with the launch of eight new projects for the first quarter this year.Pruksa controls 21 percent of the THB70 billion (US$2.3 billion) per year in Thailand’s detached house market, while Land &...
Continue Reading • 11 Mar 2011
Chinese developers to cut home prices
China is prepared to build more low-cost housing over the next five years. This has prompted some developers to start cutting home prices, as affordable public housing is set to out-do the private sector.Meanwhile, Xinyi Glass (868) has already reached its record high this week to meet the demand...
Continue Reading • 11 Mar 2011
Pan Peninsula's premium units to launch in Singapore
The Premier Collection, the second phase of London’s Pan Peninsula, is set to launch in Singapore on 17 March at the Grand Hyatt hotel.This gives Singaporeans the chance to preview the exclusive premier-specification apartments and penthouses, said Knight Frank.Pan Peninsula was the global...
Continue Reading • 11 Mar 2011
New launches in Malaysia to cost more
New property launches in Malaysia will cost 13 percent more in the first half of this year due to higher construction costs, with terrace houses in the Klang Valley and Penang areas set to increase by as much as 50 percent due to land scarcity.“Suffice to say, prices will be trending...
Continue Reading • 11 Mar 2011
Chinese banks ordered to properly handle mortgage loans
The China Banking Regulatory Commission (CBRC) has urged banks to “properly handle” problems associated with mortgage loans and protect the rights of customers while improving risk management.“All banks must strictly implement the country's macro control policies over the...
Continue Reading • 11 Mar 2011
EL Development acquires Clementi Ave 4 site
The Housing Development Board (HDB) has awarded a land parcel at Clementi Avenue 4 to EL Development Ltd after it offered the highest bid of S$224 million in a public tender that closed on 8 March.The land site was made available for sale on 26 January under the Design, Build and Sell Scheme...
Continue Reading • 11 Mar 2011
Heeton and partners acquire MacPherson Green
Niche real estate developer Heeton Holdings has collaborated with KSH Holdings, TEE International and Zap Piling to acquire the MacPherson Green site for S$105 million through a collective sale tender.Heeton will hold 40 percent of the project, while Zap Piling, TEE International and KSH will own...
Continue Reading • 11 Mar 2011
Amber Glades sold for S$118.1m
Amber Glades, which comprises two apartment blocks with 63 units in District 15, has been sold to Far East Organization (FEO) for S$118.12 million.This works out to around S$1,066 psf ppr, inclusive of the S$4 million development charges (DC).Colliers International, which brokered the deal, said...
Continue Reading • 10 Mar 2011
Thailand's Supalai to unveil 16 new projects
Thai property developer Supalai is planning to launch 16 new projects in Bangkok, which could generate up to THB13 billion (US$426 million) in sales this year.All new developments are located in Bangkok’s city centre and will be launched at affordable prices, as the company targets home...
Continue Reading • 10 Mar 2011
US mortgage applications climb 16%
The number of mortgage applications in the US climbed last week, a sign that the US housing market is stabilising.According to the Mortgage Bankers Association (MBA), the loan applications index rose 16 percent in the week ended 4 March, the highest increase since June last year. MBA’s...
Continue Reading • 10 Mar 2011
China plans 10 million low-cost housing units this year
A Chinese Cabinet official announced that Beijing is set to invest US$200 billion this year to build 10 million low-cost housing units, in a move to spread the proceeds of economic growth to the poor and to regulate staggering speculation.Qi Ji, the Deputy Housing Minister, said that the 10...
Continue Reading • 10 Mar 2011
S-REITs continue to grow, says DBS Vickers
S-REITs’ results for the fourth quarter of 2010 were “a continuation of the strong showing in 3Q10 with the sector reporting topline, net property income and distributable income growth of 10 percent, 13 percent and 11 percent respectively”, said DBS Vickers...
Continue Reading • 10 Mar 2011
Singapore expects more foreign investor participation this year
Singapore has the largest group of foreign investors in the Asia Pacific, according to DTZ.The global real estate adviser said local investors in Singapore accounted for 70 percent of all investment purchases in 2010, while Asia Pacific regional investors made up more than half the total foreign...
Continue Reading • 10 Mar 2011
Collective sales activity springs back to life
Collective sales activity resumed at the beginning of the year, with six deals closed to date, said top officials from Credo Real Estate.While smaller sites will stay popular because of their low absolute values, the mid-prime segment of the residential market appears more promising this year,...
Continue Reading • 10 Mar 2011
Grand Tower up for en bloc
Grand Tower, located at Moulmein Rise near Novena MRT station, is up for collective sale, with an indicative guide price of S$92 million or around S$1,430 psf of potential gross floor area (GFA).With an area of 21,742 sq ft, the site can be redeveloped into a high-end boutique development with a...
Continue Reading • 10 Mar 2011
Singapore GDP to hit only 5.7%
Singapore’s economic growth is expected to slow to 5.7 percent this year from its record pace in 2010, according to a study conducted by the Monetary Authority of Singapore (MAS).The survey of 20 analysts by Singapore’s central bank showed that growth in the construction, financial...
Continue Reading • 10 Mar 2011