Tulip Garden up for en bloc sale
Tulip Garden, a 164-unit condo development near CapitaLand’s d’Leedon project, has been put up for collective sale by property consultancy firm Credo Real Estate, with a minimum price tag of $650 million, or approximately $1,250 psf ppr.If sold, the property will be the third-largest...
Continue Reading • 7 Dec 2010
New projects draw out home buyers
All units at the Robinson Suites, except for the five penthouses, are said to have been sold over a three-day period last week.Three shop units on the ground floor of the 167-unit, 42-storey project have also found buyers.According to The Business Times, the three shops and 132 residential units...
Continue Reading • 7 Dec 2010
The Ascott Lmited wins master tenancy for Mount Pleasant bungalows
The Ascott Limited, a wholly-owned subsidiary of CapitaLand, has been awarded the master tenancy for 33 black and white bungalows at Mount Pleasant. Though Ascott’s bid was the third highest, the company offered to pay a monthly rent of $435,000, beating six other bidders and making it the...
Continue Reading • 7 Dec 2010
Singapore, Malaysian investors to develop RM500m project
Singaporean and Malaysian investors recently announced a partnership to jointly develop a RM500 million new waterfront residential and commercial project in Johor.The high-end development, to be called Azea Properties, will rise on a 1.68 hectare site in Danga Bay, among the key flagship zones in...
Continue Reading • 7 Dec 2010
GCD, Pantai Group to develop hospital in Malaysia
Global Capital & Development (GCD) has announced a landmark deal with the Pantai Group worth RM500 million, to develop the Gleneagles Medini Hospital in Medini, Iskandar Malaysia.To be developed across 15 acres of land in Medini North, the hospital is positioned as one of the premium...
Continue Reading • 7 Dec 2010
UK mortgage approvals and LTVs surged in November
Credit conditions in the UK mortgage market eased out for the first time in November, ahead of the General Election, according to research conducted by chartered surveyor firm e.surv, which is part of the LSL property group.New figures show that the number of mortgage approvals in the UK rose to...
Continue Reading • 7 Dec 2010
The Ascott Limited unveils first Citadines serviced residence in Indonesia
The Ascott Limited, CapitaLand’s wholly-owned subsidiary, has unveiled its first Citadines serviced residential development in Jakarta, Indonesia.Citadines Quartier Jakarta, a 135-unit residential project, is Ascott’s 15th Citadines property to open in the Asia Pacific region since it...
Continue Reading • 6 Dec 2010
KOP in discussions to ink London deal
Singapore-based hotel and investment company Kop Group is negotiating to take charge of the development of the Grade-II listed former Port of London Authority building located at 10 Trinity Square, EC3, London.The deal will be the first major acquisition by the company, though it has purchased a...
Continue Reading • 6 Dec 2010
Fixed-rate mortgages in Australia pick up
Demand for average fixed-rate mortgages in Australia hit almost 11 percent in November, the highest level seen in 29 months, according to data released by a mortgage broker.This was over the 7.7 percent demand for fixed-rate mortgages recorded in October, and before the Reserve Bank increased the...
Continue Reading • 6 Dec 2010
Govt official explains housing policy
The housing market was a hot topic for two veteran Kampong Chai Chee grassroots leaders who questioned Mrs. Lim Hwee Hua, Minister in the Prime Minister's Office, on policy changes and what they observed as shortcomings.Bernard Choo, a residents’ committee member, asked if housing...
Continue Reading • 6 Dec 2010
Investors bullish on Asian property market
Real estate investors are extremely optimistic about the property outlook and total returns available in developing markets in Asia and Latin America compared to Europe, according to a latest survey.About 100 participants at the 2010 Thomson Reuters Global Property Outlook conference were polled...
Continue Reading • 6 Dec 2010
Grand Isle Holdings acquires Segar Road site
Grand Isle Holdings Ltd has acquired a 20,834.1 sq m land parcel at Segar Road after offering the highest bid of $182 million in a public tender that closed on December 2.HDB launched the site for sale on October 5 under the confirmed list of the government’s 2H2010 GLS programme.The land...
Continue Reading • 6 Dec 2010
GLS Programme adds $9.4bn to state coffers
Supported by a buoyant real estate market, the GLS Programme has added $9.4 billion of revenue to the government coffers in the first 11 months of this year, five times higher than the $1.8 billion of sales seen in 2009.The figures were revealed by Simon Cheong, head of the Real Estate Developers...
Continue Reading • 6 Dec 2010
KepLand receives positive advance tax ruling on MBFC divestment
The Inland Revenue Authority of Singapore (IRAS) has given Keppel Land a positive advance tax ruling, which will allow the developer to realise $394 million net gains from the proposed divestment of Phase One of Marina Bay Financial Centre (MBFC). The amount is higher compared to the $321 million...
Continue Reading • 6 Dec 2010
CapitaLand divests all units at The Adelphi
CapitaLand, Southeast Asia’s largest property developer, is divesting its 163 strata-titled units at The Adelphi near City Hall MRT Station for approximately $218.132 million.The company said on Friday that its indirect wholly-owned unit, Adelphi Property Ltd has entered into four sales and...
Continue Reading • 6 Dec 2010
KOP and Reignwood acquire London landmark
Singapore-based KOP Properties and Beijing’s Reignwood Group have jointly acquired Ten Trinity Square in London for approximately S$219 million (£107 million).The historical landmark is located near London’s River Thames, which is in the vicinity of Tower Bridge, the Tower of...
Continue Reading • 6 Dec 2010
IHG to launch brand in Shanghai
InterContinental Hotels Group Plc (IHG) has launched its first upscale boutique brand in Shanghai, highlighting the rising prominence of the city as a business and tourism hub. The 184-room Hotel Indigo is a waterfront hotel located in the city’s picturesque promenade, the Bund. It features...
Continue Reading • 3 Dec 2010
Le Méridien debuts in Taiwan
Starwood Hotels & Resorts has opened the doors of its newest hotel, the Le Méridien Taipei, marking the debut of Le Méridien in Taiwan.Situated in Xinyi District, Le Méridien Taipei features 160 guest rooms equipped with the Le Méridien signature bed, state-of-the...
Continue Reading • 3 Dec 2010
More UK home loans available to borrowers with small deposits
The number of mortgages available to UK borrowers with small deposits rose 50 percent over the past year, according to a UK-based financial price comparison website Moneyfacts.co.uk.However, interest rates on these mortgages are slightly high, according to The Telegraph.Currently, more than 1,000...
Continue Reading • 3 Dec 2010
Substantial shareholder reduces Sabana Reit stake
A substantial shareholder has reduced its stake at Sabana real estate investment trust (Reit), the first Syariah-compliant Reit in Singapore.Moore Macro Fund said in its regulatory filings with the SGX that it sold nine million stakes on the open market, reducing its shares from 6.32 percent to...
Continue Reading • 3 Dec 2010