Chip Eng Seng's Q4 profit up 24%
Property and construction company Chip Eng Seng has announced that its net profit increased 24.4 percent to S$38.8 million in the fourth quarter, from S$31.2 million over the same period the previous yearThis was attributed mainly to better gross profit contribution from the sales of the...
Continue Reading • 24 Feb 2011
CDL to raise stake in South Beach project
City Developments Limited (CDL) is poised to increase its stake in the consortium developing the South Beach project, after it exercised its right of first refusal to acquire one-third stake of Dubai World in the consortium and met conditions for the transaction, said sources.This means that...
Continue Reading • 24 Feb 2011
New Changi Hotel site up for tender
The New Changi Hotel site on Changi Road has been launched for sale through a public tender, with an indicative price of S$61.8 million, or about S$781 psf, based on the potential gross floor area (GFA) of approximately 79,299 sq ft.The freehold redevelopment site is situated on a 2,456 sq m...
Continue Reading • 24 Feb 2011
GuocoLand inks building agreement for white site
The Singapore government and GuocoLand Limited’s wholly-owned subsidiaries, Perfect Eagle, Guston Pte and Belmeth Pte, signed a building agreement for the white site located at Peck Seah Street / Choon Guan Street.The 15,023 sq m site was launched for tender on 30 July, which closed on 16...
Continue Reading • 24 Feb 2011
Perennial China Retail Trust plans public offering
Perennial China Retail Trust, a wholly-owned subsidiary of property-investment firm Perennial Real Estate, is planning to file a S$1 billion (US$780.6 million) IPO prospectus to the Monetary Authority of Singapore (MAS) this week.A source familiar with the plan said Perennial intends to lodge and...
Continue Reading • 23 Feb 2011
Bendemeer, Tampines sites up for sale
The Housing and Development Board (HDB) is launching two sites at Bendemeer Road / Whampoa East and Tampines Central 7 for sale under the confirmed list of 1H2011 GLS Programme.With a land area of 18,618 sq m, the land parcel at Bendemeer Road / Whampoa East has a maximum permissible gross floor...
Continue Reading • 23 Feb 2011
London's super-prime home prices set to rise
Prices of the most expensive homes in London will probably rise by up to 10 percent in 2011, as foreign buyers compete for a limited number of available “super-prime” properties, said London-based property adviser Knight Frank.Prices of homes and apartments costing over £10...
Continue Reading • 23 Feb 2011
Marriage an option for desperate home buyers in Beijing
The Beijing government has made it more difficult for non-locals to purchase a flat but there is a way to beat the restrictions — marriage.The new measures announced by the capital earlier in February targeted non-locals, in order to clamp down on speculation in the real estate market.They...
Continue Reading • 23 Feb 2011
JLL ranks in the top 100 outsourcing providers
The annually ranked 2011 Global Outsourcing 100 by the International Association of Outsourcing Professions (IAOP) has named Jones Lang LaSalle (JLL) as one of the world’s top 100 outsourcing providers for the third consecutive year.These rankings recognise the best outsourcing service...
Continue Reading • 23 Feb 2011
CapitaLand seeks up to S$6b in investments
CapitaLand is looking to invest between S$5 billion and S$6 billion this year, after committing over S$6 billion towards new investments in 2010, said CEO Liew Mun Leong.This could include purchases of sites and mergers and acquisitions.Property cooling measures announced by the Singapore and...
Continue Reading • 23 Feb 2011
UOL Group sees major net profit increase
UOL Group has announced that its net profit for the full year ended 31 December 2010 jumped 76 percent, while its revenue climbed 29 percent to S$1.29 billion.The growth in revenue was attributed to the progressive recognition of revenue from the sale of development properties.The group’s...
Continue Reading • 23 Feb 2011
Rising costs a pressing factor after Budget 2011
The new budget did little to alleviate the worries about rising prices among Singaporeans. The Government has received echoing remarks about rising prices in the past four days, including a forum it held on Tuesday.Most welcomed the initiatives, which include cash pay-outs, tax rebates and...
Continue Reading • 23 Feb 2011
NZ mortgages most affordable in January
Mortgages in New Zealand were the most affordable in seven years in January, as low interest rates boosted the purchasing power of home buyers and home prices declined, said a report.Affordability reached its highest levels since February 2004, aided by a slight increase in weekly wages and the...
Continue Reading • 23 Feb 2011
Emerald Star, FC Retail acquire Punggol Central site
The Housing Development Board (HDB) has announced that the land parcel at the junction of Punggol Central and Punggol Walk has been awarded to Emerald Star Ltd and FC Retail Trustee Ltd, after offering the highest bid of S$1,021 million in a public tender that closed on 15 February.Zoned for...
Continue Reading • 23 Feb 2011
S$9m expansion in the pipeline for RSYC
The Republic of Singapore Yacht Club (RSYC) plans to upgrade its facilities and services to meet the needs of a new generation of boaters and marina-going club members in Singapore.After 11 years of operation from its modern yacht club premises, RSYC is set to start a new development phase to...
Continue Reading • 22 Feb 2011
Courts introduces first wireless speaker and speakerphone
Courts (Singapore) Pte Ltd has introduced Jawbone’s JAMBOX, the first intelligent wireless speaker and speakerphone, in Singapore.“Always in the forefront of bringing the latest technology and innovative products to our customers, Courts is delighted to be the first and exclusive...
Continue Reading • 22 Feb 2011
CapitaLand posts bleak Q4 results
Southeast Asia's largest property developer, CapitaLand, has reported a 41 percent decline in its Q4 profit to S$522.1 million, down from S$885.7 million over the same period the previous year. The company attributed the lower Q4 net profit mainly to smaller one-off gains, compared to the...
Continue Reading • 22 Feb 2011
Amber Towers up for en bloc sale
The 54-unit Amber Towers at Amber Road is up for en bloc sale, with an asking price of between S$168 million and S$172 million.This translates to around S$1,152 psf ppr to S$1,180 psf ppr, given the gross floor area (GFA) of about 145,813 sq ft that a new development project could yield on the...
Continue Reading • 22 Feb 2011
Hong Kong cracks down on misleading showflats
The Hong Kong government is cracking down on property developers and agents who use misleading show units to attract buyers, after a similar move by Singapore authorities.According to The Straits Times, some developers remove boundary walls to make showflats appear bigger and show off bay windows...
Continue Reading • 22 Feb 2011
Singapore: Asia's fourth most liveable city
Singapore has been named the fourth most liveable city in Asia, behind Osaka, Tokyo and Hong Kong, based on a survey conducted by the Economist Intelligence Unit (EIU).Worldwide, Singapore ranked 51st, along with San Francisco, with a rating of 88.7 points.A rating of 80 to 100 points means that...
Continue Reading • 22 Feb 2011