Guocoland's Guoson Centre in China wins property award
Guoson Centre, the flagship project of Guocoland China Ltd, the real estate arm of Malaysia’s Hong Leong Group, has won the Best International Mixed-Use Development at the International Property Awards.The award signifies the transformation of the firm from a single project company to one...
Continue Reading • 14 Dec 2010
China Yongsheng sells 51% stake in Suzhou Bochen
China Yongsheng Limited, an investment holding company that is engaged in production and supply of concrete and related products, announced that its subsidiary Suzhou Yongsheng Concrete has agreed to dispose its 51 percent interest in property firm Suzhou Bochen Development Co to Gong Xiaowei for...
Continue Reading • 14 Dec 2010
AMP to open property arm in Singapore
AMP Capital plans to expand its portfolio in Asia by setting up an unlisted property arm in Singapore in 2011.Andrew Bird, director and chief investment officer at AMP Capital, said the company will set up a new fund and invest more in global marketing strategies, as well as expand its...
Continue Reading • 14 Dec 2010
Holland Village to get community park
A community park will be constructed in Holland Village by next year, said a joint statement from the Urban Redevelopment Authority (URA) and the National Parks Board (NParks).The park will be located next to the Holland Village Circle Line (CCL) station entrance, serving as a new gateway to...
Continue Reading • 13 Dec 2010
Australia to ban mortgage exit fees
Mortgage customers in Australia will be able to switch home loans without penalty starting mid next year, as Australia Treasurer Wayne Swan announced on Monday the government’s plan to ban mortgage exit fees beginning 1 July 2011.According to the Sunday Age, the much anticipated banking...
Continue Reading • 13 Dec 2010
China's real estate inflation eases
China’s real estate inflation eased in November, the seventh straight month of decrease following the series of cooling measures announced by the government.However, property investment stayed buoyant, relieving fears that tightening moves would seriously harm the real estate sector and the...
Continue Reading • 13 Dec 2010
China's high-speed rail network to benefit property development: CBRE
The future high-speed rail network in China will change the country’s property landscape, as it will bring new opportunities for property development that will serve as station-based central business districts, according to Asia Research Report by CB Richard Ellis's (CBRE).The new...
Continue Reading • 13 Dec 2010
Popular Holdings' Q2 profit up 87%
Singapore-based Popular Holdings has posted an 87-percent increase in net profit to $2.6 million for the second quarter ended 31 October 2010, from $1.4 million over the same period last year.Popular’s turnover in Q2 jumped 11 percent to $124.1 million. The half year turnover, however,...
Continue Reading • 13 Dec 2010
Investors in Singapore dump US$2.5bn of US stocks
After overtaking the Japanese as the top Asian investors on Wall Street in 2009, Singapore-based punters prolonged their purchase of corporate stocks this year, until the July to September period.According to the latest US Treasury figures, Singapore investors turned net sellers in the third...
Continue Reading • 13 Dec 2010
HK may be the hottest IPO market this year
Hong Kong is poised to become the world’s hottest IPO market in 2010, raising more than US$51 billion. Observers, however, say its stock exchange must reduce its heavy reliance on China.According to figures from Dealogic, the city was outperforming Shanghai, Shenzhen and New York by early...
Continue Reading • 13 Dec 2010
Sim Lian wins Punggol Central site
The Urban Redevelopment Authority (URA) has awarded a land parcel at the junction of Punggol Central and Punggol Walk to Sim Lian Land Ltd & Sim Lian Development Ltd. The company offered the highest bid of $363 million in a public tender that closed on December 7.The land parcel was launched...
Continue Reading • 13 Dec 2010
Investors should target 'new' Singapore stocks: JP Morgan
Investors hoping to take advantage of the economic growth should consider stocks that represent the ‘new’ Singapore, such as those in the resource, leisure and wealth management industries, said Christopher Gee, head of Singapore equity research at JP Morgan. As new growth...
Continue Reading • 10 Dec 2010
Interest rates expected to increase in Singapore
The record-low mortgage rates that are enjoyed by Singapore home buyers may soon be over, said economists.Several economists expect interest rates to climb next year, attributed largely to the increase in forecasted interest rates in the US.According to a survey of 22 economists conducted by the...
Continue Reading • 10 Dec 2010
CEA regulations cause industry shake-up
Real estate companies in Singapore are jostling for the best property agents as a result of the enforcement by the new regulatory body, the Council for Estate Agencies (CEA). New rules state that agents can only work with one property firm, which means that those who previously represented...
Continue Reading • 10 Dec 2010
Suntec REIT acquires interest in Marina Bay Financial Centre
ARA Asset Management Limited has announced that Suntec Real Estate Investment Trust (Reit) has completed the acquisition of a one-third stake in the Marina Bay Financial Centre, which includes the MBFC Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots, for a total of S$1.495...
Continue Reading • 10 Dec 2010
New regulatory body CEA ramps up
The Council for Estate Agencies (CEA), the new statutory board launched to regulate Singapore’s property industry, has already received 150 complaints, said National Development Minister Mah Bow Tan. However, Mr. Tan is not surprised by the number, according to Channel News...
Continue Reading • 10 Dec 2010
World's third-tallest building to be built in Wuhan
The construction of the world’s third-tallest building has begun in China’s Wuhan City, as its property developer, Shanghai Greenland Group committed to pump up 30 billion yuan (S$5.9 billion) to develop the project. The project’s expected completion date is 2015. Shanghai...
Continue Reading • 10 Dec 2010
China's property prices unaffected by curbs
The tough measures implemented by the Beijing government to cool down China’s buoyant real estate market have yet to create an impact on property prices.According to a recent study conducted by property agency Knight Frank, average price of new homes rose 2.9 percent in 10 key cities in...
Continue Reading • 10 Dec 2010
OKP, Soilbuild JV wins S$83.5m Orchard Rd condo contract
Property developer Soilbuild Group Holdings and infrastructure and civil engineering group OKP Holdings have jointly won an $83.5-million contract to build a luxury condominium project on former site of The Parisian in Orchard Road.Angullia Development, a wholly-owned unit of China Sonangol Land,...
Continue Reading • 10 Dec 2010
TCT to acquire two properties for $206.64m
Treasury China Trust (TCT) recently announced that it has entered into two separate deals to buy two properties for $206.64 million.To fund the agreements, TCT intends to raise $79.46 million through a convertible bond and a private placement. The remaining costs will be financed by debt.TCT...
Continue Reading • 10 Dec 2010