CBRE buys ING property unit for US$940m
CB Richard Ellis (CBRE) Group has reached an agreement to acquire the majority of the property investment management business of Netherlands-based financial company ING Group NV for US$940 million, making it the largest property investment manager in the world.The deal, which almost triples...
Continue Reading • 17 Feb 2011
More Singapore companies going global
Around 80 percent of Singaporean companies are planning overseas expansion in the next six months, with China and Indonesia being the most preferred destinations, according to the recent BT-UniSIM Business Climate Survey.About 60 percent of the respondents are looking to expand services or...
Continue Reading • 17 Feb 2011
Stricter rules to tame China's property market
The Chinese government has announced tighter rules to limit purchases of multiple homes in Beijing, in an attempt to curb escalating real estate prices.Under the new rules, which are based on the guidelines issued by the central government in late January, only those who have residency permits in...
Continue Reading • 17 Feb 2011
JTC's RBF net allocation plummets
JTC has announced that net allocation of its ready-built facilities (RBF) fell sharply to -14,500 sq m in the fourth quarter of 2010, making it the third consecutive quarter during which terminations exceeded gross allocations.Net allocation for RBF stood at 9,400 sq m in Q1 2010 but dropped to...
Continue Reading • 17 Feb 2011
CMA posts strong full-year results
CapitaMalls Asia (CMA), a wholly-owned subsidiary of CapitaLand, has posted a profit after tax and minority interests (PATMI) of S$421.9 million for the fiscal year 2010, up nine percent from the S$388.1 million recorded in 2009.“CapitaMalls Asia recorded a strong set of results in our...
Continue Reading • 17 Feb 2011
Koh Brothers see 15% net profit increase
Koh Brothers Group Limited has announced that its net profit attributable to shareholders rose 15 percent to S$12.3 million for the full year ended 31 December 2010 from S$10.7 million in the earlier period.The increase in net profit was attributed to the 10 percent growth in revenue to S$364.3...
Continue Reading • 17 Feb 2011
Singapore's 2011 inflation accelerates
The Ministry of Trade and Industry (MTI) expects Singapore’s economy to grow between four and six percent this year, attributed to the continuous recovery of the global economy.However, MTI warned that the inflation forecast for 2011 has been revised upwards.“For 2011, the inflation...
Continue Reading • 17 Feb 2011
Austral View up for tender
Austral View in the Tanjong Rhu area has been put up for sale through a public tender with an indicative price of S$88 million, or S$1,350 psf ppr.CB Richard Ellis (CBRE), the marketing agent for the property, said the small apartment block has an area of 2,837 sq m. It is zoned for residential...
Continue Reading • 17 Feb 2011
Property measures not meant to crash the market
It is unnatural to expect property prices to remain strong, given the strong economic growth, a lot of liquidity and low interest rates, said Minister for National Development Mah Bow Tan.He said that the property measures implemented on 13 January, which was the fourth set of cooling measures in...
Continue Reading • 16 Feb 2011
China to further increase mortgage rates
The central government of China will likely increase mortgage rates for second-home purchases, its latest step to curb property speculation.China is planning to increase the rate by as much as 1.2 times the benchmark rate in Shanghai and Beijing, according to a report.The government’s...
Continue Reading • 16 Feb 2011
Mode Sukhumvit 61 in Bangkok set for launch
Gaysorn Property, which develops branded properties for refined quality living, is gearing up to launch its second condo project on Sukhumvit Soi 61.The THB1.3 billion (US$42.35 million) condo project, Mode Sukhumvit 61, is expected to be launched next month. It comprises two eight-storey...
Continue Reading • 16 Feb 2011
Punggol Central site receives seven bids
The tender for a land parcel located at Punggol Central / Punggol Walk closed yesterday, drawing a total of seven bids.The 29,999.3 sq m site, which was launched for sale on 30 November 2010, is proposed for a mixed commercial and residential development with a potential yield of 685 units. The...
Continue Reading • 16 Feb 2011
Singapore: World's fifth most expensive location for property rental
Singapore now ranks as the fifth most expensive location in the world for property rental, based on rents for two-bedroom units that are commonly preferred by expats.It also ranks as the third most expensive in Asia, behind Tokyo and Hong Kong.The new ranking comes as a result of a 15 percent...
Continue Reading • 16 Feb 2011
Private residential market remains affordable
Singapore’s private residential market stayed affordable in January, as 46.2 percent of all private units sold in January 2010 were below S$1,000 psf, said PropNex.Despite the January 13 cooling measures, there were 1,534 private residential transactions last month, down 9.7 percent from...
Continue Reading • 16 Feb 2011
Residential property transactions down 11%
The Urban Redevelopment Authority (URA) monthly sales volume for private residential units excluding executive condominiums (ECs) dropped 11 percent month-on-month to 1,189 units in January.New projects launched last month generally saw weaker take-up of below 50 percent, except Spottiswoode 18...
Continue Reading • 16 Feb 2011
Government cautious regarding property market
Following last month’s curbs, the government yesterday said it is ready to implement further cooling measures to prevent a property bubble in the market.National Development Minister Mah Bow Tan said that market sentiment in the country has remained bullish, with signs of renewed exuberance...
Continue Reading • 15 Feb 2011
Mortgage approvals in Australia see December jump
The number of approved home loans in Australia rose by more than twice, compared to economists’ forecast in December, as the country ended a record year for job growth.According to the statistics bureau, the number of mortgages approved for purchasing building homes climbed 2.1 percent from...
Continue Reading • 15 Feb 2011
Asian REITs' market cap up 22.8%
The Asia Pacific REIT market saw a 22.8 percent year-on-year increase in market capitalisation in 2010 to US$156.8 billion, up from the previous year’s US$66 billion, said Asia Pacific Real Estate Association (APREA), which represents and promotes the property sector on a regional basis.The...
Continue Reading • 15 Feb 2011
Asia's property transaction volume down 21%
Asia’s real estate transaction volume fell 21 percent in the fourth quarter to US$17.8 billion from the earlier quarter, said Asia Pacific Real Estate Association (APREA).However, the general upward momentum that started in early 2009 is continuing. “The majority of the transactions...
Continue Reading • 15 Feb 2011
W Hotels debuts in Taiwan with W Taipei
W Hotels Worldwide has opened the doors of W Taipei, its 39th hotel globally, located in the Central Business District (CBD) of Xinyi. Its opening coincides with the opening of W London ̶ Leicester Square, which will become the brand’s 40th hotel worldwide.W Taipei offers 405...
Continue Reading • 15 Feb 2011