SGX appoints new derivatives head
Michael Syn will take on the role of Senior Vice President and Head of Derivatives at the Singapore Exchange (SGX), starting 1 March.Mr. Syn will spearhead the growth of SGX in derivatives’ trading and distribution, “building on our position as an award-winning derivatives...
Continue Reading • 10 Feb 2011
CCT appoints new head of asset management
CapitaCommercial Trust (CCT), a wholly-owned subsidiary of CapitaLand, announced that it has appointed Yvonne Ong its new Head of Asset Management.She will replace Faith Connie Soh, who will be focusing more on special projects related to the company.Prior to joining the company, Ms. Ong was the...
Continue Reading • 10 Feb 2011
Sim Lian posts strong Q2 results
Singapore property developer Sim Lian Group saw strong earnings in the second fiscal quarter, on the back of lower contract costs, gains in asset disposal and improved takings from its construction division.Sim Lian’s revenue climbed three percent to S$172 million in Q2, from S$166.5...
Continue Reading • 10 Feb 2011
Emery Point owners resolve dispute with CDL, others
The High Court suit filed by the management of the Emery Point condominium in Tanjong Katong over various building defects was resolved on Tuesday.The management, which represents the owners, had taken legal action against property developer City Developments Limited (CDL), the main contractor,...
Continue Reading • 10 Feb 2011
Property exhibitions source of London property buyers
Real estate exhibitions in Singapore, Hong Kong and Kuala Lumpur have been an increasingly important source of London real estate buyers.According to research from the London office of CB Richard Ellis (CBRE), over £800 million worth of properties, or 2,500 units, were sold at exhibitions...
Continue Reading • 10 Feb 2011
CDL and others sued over defects at Emery Point condo
Emery Point condominium residents have filed a suit against listed property developer City Developments Limited (CDL), the main contractors, five subcontractors and the architect, due to many building defects.The condo’s management operation (representing the owners) is claiming...
Continue Reading • 9 Feb 2011
Banks to end preferential mortgage rates in Shenzhen
Bank of China Ltd. along with four other state lenders will end preferential mortgage rates for first-home buyers in Shenzhen, according to a local newspaper, marking the central government’s latest measures to curb property prices.Industrial and Commercial Bank of China Ltd, Bank of...
Continue Reading • 9 Feb 2011
2020 to be golden era for Malaysian property investment
Real estate investment in Malaysia will see its golden era in the next 10 years, said Gavin Tee, Founding President of Swhengtee International Real Estate Investors Club (Swhengtee International REI Club).Mr. Tee recently predicted that the Malaysian property market should have matured by 2020...
Continue Reading • 9 Feb 2011
Fortis Healthcare eyeing Singapore REIT
Indian hospital chain Fortis Healthcare is planning to launch a Real Estate Investment Trust (REIT) and to list it in Singapore, said Yogesh Sareen, Chief Financial Officer of Fortis.“This is under active evaluation. We don't have a clear timeline on that or a clear ‘yes’ or...
Continue Reading • 9 Feb 2011
Hsieh to oversee Fullerton after acting CEO's resignation
Fullerton Fund Management has announced that Hsieh Fu Hua, a member of the company’s board of directors, will work closely with Fullerton’s Chief Operating Officer and Chief Investment Officer to ensure that the firm will run smoothly, until a new Chief Executive is appointed.This...
Continue Reading • 9 Feb 2011
Singapore market activity returns to normal
Activity in the Singapore market improved in January, from the traditionally slow December holiday season but was quieter than January 2010.Total securities volume dropped 16 percent on-year to 38 billion shares but was higher than the 25.4 billion shares sold in December, according to data...
Continue Reading • 9 Feb 2011
MCC Land steps up property development in Singapore
MCC Land (Singapore) Pte Ltd, the property unit of China Metallurgical Group Corp (MCC), is stepping up property development in Singapore, making it China’s first state-owned property company to expand overseas.“Due to quick sales and fast capital withdrawal, Singapore will be our...
Continue Reading • 9 Feb 2011
Property derivatives hit low point
Global property derivatives dropped to their lowest quarterly level in five years in the fourth quarter of 2010, as confidence was affected by a tighter regulatory regime and economic uncertainty across Europe, a survey revealed.A total of £192 million (S$390 million) in trades was observed...
Continue Reading • 9 Feb 2011
Amber Glades relaunched for collective sale
Amber Glades, a freehold residential block in District 15, has been releaunched for en bloc sale with an indicative price of S$120 million, or S$1,078 psf ppr.This is the fourth time Amber Glade has been put up for sale. It was first launched for sale in 2007, with a price tag of S$145 million or...
Continue Reading • 9 Feb 2011
40 Waterfront Isle units sold during Chinese New Year
Far East Organization (FEO) sold about 40 units at its Waterfront Isle condominium development in a single day, during the Lunar New Year period.The real estate market traditionally sees slow activity during the Lunar New Year, as most property developers postpone their plans for new launches...
Continue Reading • 8 Feb 2011
Hong Kong home prices to surge 11% in 2011
Home prices in Hong Kong resumed their upward trend last month, after a dip in December, increasing an average of 2.1 percent month-on-month.Home buyers were returning to the market after the government implemented another set of cooling measures in November, which aimed to curb price growth and...
Continue Reading • 8 Feb 2011
Four HK housing estates exceed 1997 price highs
The prices of four major housing estates in Hong Kong exceeded their 1997 highs in January, just as real estate prices showed a slight sign of easing.Prices in Westlands Court, City Garden, Whampoa Garden in Hung Hom and Chi Fu Fa Yuen in Pok Fu Lam all surpassed their previous 1997 highs in...
Continue Reading • 8 Feb 2011
CBRE 2010 net income up 501%
Commercial property services company CB Richard Ellis (CBRE) has announced that its net income for the full-year 2010 rose 501 percent to $200.3 million or $0.63 per diluted share, from $33.3 million or $0.12 per diluted share in 2009.Revenue for 2010 surged 23 percent to $5.1 billion, compared...
Continue Reading • 8 Feb 2011
New rules to ensure accuracy of showflats
The Ministry of National Development (MND) intends to announce new regulations to ensure that showflats created by property developers accurately represent the actual units in a project, sources revealed to The Business Times.The move is designed to guarantee that home buyers are not deceived by...
Continue Reading • 8 Feb 2011
Soho units increasing in popularity
With the increasing trend of working from home, property developers are prompted to launch more small office, home unit (Soho) projects.The popularity of this concept is also evident in the leasing market, where Soho units can fetch higher rents than flats.The Urban Redevelopment Authority (URA)...
Continue Reading • 8 Feb 2011