Singapore set to become Global-Asia hub
Singapore-based companies will be given the chance to expand into Asia using three government-proposed strategies.According to Mr. Lim Hng Kiang, Minister for Trade and Industry, the Government has designed three strategies to help Singapore-based companies grab growth opportunities, become...
Continue Reading • 7 Mar 2011
Darien Bradshaw joins CBRE's Asia Pacific team
Darien Bradshaw will join CB Richard Ellis’ (CBRE) Asia Pacific residential team as a new Executive Director for International Project Marketing.According to CBRE, Bradshaw will draw on his broad experience in the international housing business to help Asian investors and end-users acquire...
Continue Reading • 7 Mar 2011
Exclusive Singapore launch for Vancouver House, London
Vancouver House, the fourth phase of Maple Quays in Canada Water, is set for launch in Singapore at the Four Seasons Hotel on 12 to 13 March 2011.The launch of Vancouver House comes off the back of the success of Fairmont House, the development’s third phase, which is currently 80 percent...
Continue Reading • 7 Mar 2011
UOL, Singapore Land to develop low-rise condo
UOL Group and Singapore Land are planning to develop a low-rise condominium project with a resort ambience and some strata terrace houses on a plot fronting Bedok Reservoir Park.The partnership offered the highest bid of S$320 million, or approximately S$465 psf of potential gross floor area...
Continue Reading • 7 Mar 2011
Newest additions to Punggol Town unveiled
Deputy Prime Minister Teo Chee Hean officially opened the Lorong Halus Wetland and Riverside Walk of Punggol Promenade, the latest leisure additions to Punggol Town, which has been envisaged as a unique waterfront town with a range of social, commercial and recreational facilities for residents.A...
Continue Reading • 7 Mar 2011
United Venture offers top bid for Bedok Reservoir Road site
The public tender for a residential site at Bedok Reservoir Road has attracted a total of eight bids, with United Venture Development Ltd offering the highest bid of S$320 million.“The response of eight bids to the residential site at Bedok Reservoir Road showed that developers are keen on...
Continue Reading • 4 Mar 2011
UK mortgage lending improves in January
Mortgage lending in the UK peaked in January, as the real estate market recovered from its losses due to severe winter weather at end-2010.According to the Bank of England, net lending rose to £1.8 billion in January, up from the £268 million recorded in the preceding month. The...
Continue Reading • 4 Mar 2011
Cross-border property investment makes a comeback
Global cross border property transactions rose 60 percent year-on-year to US$130 billion and accounted for 40 percent of all direct commercial real estate investments worth US$318 billion in 2010, according to global real estate services firm Jones Lang LaSalle (JLL).“During the downturn,...
Continue Reading • 4 Mar 2011
CDL launches preview for H2O Residences
Property developer City Developments Ltd (CDL) has launched the preview of its H2O Residences, a 99-year leasehold condominium development in Sengkang.The average selling price for the condo is expected to be above S$900 psf. Prices for the one-, two- and two-bedroom-with-study units are expected...
Continue Reading • 4 Mar 2011
Recent measures have stopped spike in private home prices
The four recent rounds of measures aimed at cooling the real estate market, announced in September 2009, February and August 2010 and January 2011, have prevented prices of private homes from spiralling out of control, said National Development Minister Mah Bow Tan.Demand-side measures and...
Continue Reading • 4 Mar 2011
Home supply to surge the next few years
There could be a decline in home prices and rents after the release of a large supply of new homes in the market in 2013 and 2014, warn analysts.According to recent Urban Redevelopment Authority (URA) data, about 17,111 new homes are expected to be completed in 2013 and 17,421 in 2014, including...
Continue Reading • 4 Mar 2011
New measure welcomed by first-time BTO flat buyers
The government has announced that it will raise the monthly household income ceiling to S$5,000 from S$3,000 for first-time buyers of three-room Built-to-Order (BTO) flats in non-matured estates, a move that will be welcomed by many families in the lower-middle income bracket, said...
Continue Reading • 4 Mar 2011
Low-income families get more aid through housing grant
The government has introduced more aid for low-income families to acquire their first flat.First-time home buyers already receive a generous subsidy when they purchase a new HDB flat. Those with a monthly income of S$5,000 and below also enjoy more aid through the Additional CPF Housing Grant...
Continue Reading • 4 Mar 2011
Hong Kong must implement its own mortgage measures
Banks in Hong Kong may find it difficult to implement mainland China’s style of property measures, when in comes to home loans.“No common mortgage database is shared by the banks yet,” said Stanley Wong Yuen-fai, Executive Director at ICBC (Asia). “Banks cannot get hold of...
Continue Reading • 3 Mar 2011
China's less wealthy cities see land price hikes
Less wealthy Chinese cities may lose their advantage this year, as their land prices soar, said Credit Suisse Group AG.In some less affluent Chinese cities, land prices surged faster than residential prices, putting property developers’ profit margins under pressure, said analysts, headed...
Continue Reading • 3 Mar 2011
Savills acquires Asia Pacific Real Estate
Savills has expanded its array of services with the acquisition of a Singapore-based boutique investment advisory company.With this acquisition, Savills Asia Pacific Real Estate — a new investment arm of Savills — will focus on institutional and professional investors, as well as...
Continue Reading • 3 Mar 2011
United Engineers' full-year profit up 257%
Singapore-based United Engineers Limited (UE) has posted a 257 percent increase in net profit to S$186.2 million in the fiscal year 2010.The company’s full-year revenue also rose 28 percent to S$901.4 million, mainly attributed to progressive revenue recognition from property projects such...
Continue Reading • 3 Mar 2011
China's property measures may lead to pent-up demand
China’s newest measures to cool down the property market will not lower prices but rather, result in pent-up demand, said Jason Leow, Chief Executive of CapitaLand China.The Chinese capital is worried about overheating in the property market, after several months of escalating home prices...
Continue Reading • 3 Mar 2011
Asia's luxury residential capital values up 1.8%
Residential capital values across Asia jumped 1.8 percent quarter-on-quarter in the fourth quarter of 2010, said Jones Lang LaSalle (JLL).However, price growth has slowed down steadily from the 7.4 percent quarter-on-quarter pace seen in Q3 2009, as sales activity cooled, following the set of...
Continue Reading • 3 Mar 2011
CDLHT buys Studio M Hotel for S$154m
CDL Hospitality Trusts (CDLHT) has acquired the Studio M Hotel, which was launched in March last year, for $154 million (approximately $428,000 per room).The yield-accretive purchase will initially be fully funded by debt, resulting in the trust’s debt-to-assets ratio increasing to...
Continue Reading • 3 Mar 2011