S'pore is Asia's 8th most expensive city
Singapore is now Asia’s eighth most expensive city, up from ninth last year, according to survey results by management and assignment solutions company ECA International.Meanwhile, it ranked 42nd globally, driven by rising prices and the strengthening of the Singapore dollar.The country...
Continue Reading • 3 Dec 2010
Six more private estates to get facelift
The Ministry of National Development (MND) under the Estate Upgrading Programme has selected another six private estates to undergo upgrading at an estimated cost of $21 million.Since the programme was launched in 2000, MND has already spruced up 38 private estates over six batches, spending $117...
Continue Reading • 3 Dec 2010
Segar Road site receives 5 bids
A land parcel at Segar Road received a total of five bids in a public tender that closed on Thursday.The 20,834.1 sq m site, which was launched for sale on October 6, received the highest bid of $181.9 million from Grand Isle Holdings.“The top bid of $181.99 million reflects $271 psf/plot...
Continue Reading • 3 Dec 2010
Molteni&C and Dada open flagship store in Singapore
Molteni&C and Dada, which are part of the Molteni Group, one of Italy’s leading furnishing companies in terms of contemporary design, have opened a dedicated shop at Hanz Artistique in Singapore.Molteni&C and Hanz Artistique have collaborated to bring some of the finest design...
Continue Reading • 2 Dec 2010
CapitaLand-led consortium unveils d'Leedon condo
A CapitaLand-led consortium has unveiled the d‘Leedon, a 1,715-unit residential development located at the former site of Farrer Court. Designed by internationally-renowned Pritzker Architecture Prize winner Zaha Hadid, the 99-year leasehold project will comprise 1,703 apartments and 12...
Continue Reading • 2 Dec 2010
CapitaLand launches d'Leedon condo
One of Asia’s largest real estate companies CapitaLand has begun marketing the 1,715-unit d'Leedon project. The development’s showflat has been built and property agents have started giving out flyers to potential buyers.d'Leedon, which will be built on the former Farrer Court site,...
Continue Reading • 2 Dec 2010
Average home sizes shrink
With the development of shoebox apartments and a bigger proportion of smaller units in condo developments, the average size of non-landed homes used to estimate housing supply in the GLS Programme has shrunk.To arrive at the average size for every home assumed, The Business Times chose sites by...
Continue Reading • 2 Dec 2010
US loan demand falls as refinancing drops
Applications for home loans in the US slipped last week, as interest rates increased to its highest level since mid-August, driving down mortgage refinancing applications, according to an industry group.The Mortgage Bankers Association (MBA) said the index for seasonally adjusted mortgage...
Continue Reading • 2 Dec 2010
China home prices up 0.8%
Housing prices in China climbed 0.8 percent in November, increasing for a second month even as the central bank increased the interest rate for the first time since 2007, said SouFun Holdings Ltd, the country’s largest property website owner.Based on 100 locations monitored by SouFun,...
Continue Reading • 2 Dec 2010
Land acquisitions drive up Wharf Holdings' shares
Shares of Wharf Holdings Ltd, owner of the two largest shopping malls in Hong Kong, climbed after announcements that it acquired two land plots in China's Jiangsu province.The shares increased 7.1 percent to close at HK$55.90 on the HK stock exchange, making it the largest gain since July last...
Continue Reading • 2 Dec 2010
Kim Eng opens retail investor centre
Kim Eng Holdings, Asia's leading securities & investment broker, has opened its first retail investor centre in Singapore’s nex @ Serangoon Central, allowing investors to access the company’s stock broking services in a comfortable location.“We are looking to grow our client...
Continue Reading • 2 Dec 2010
Lion City Hotel, Hollywood Theatre sites for sale
Lion City Hotel in Geylang and the adjoining Hollywood Theatre site have been put up for sale, with a price tag expected to exceed $300 million, excluding the development charge.The two plots, along with a substation site nearby, have a total gross floor area (GFA) of 507,924 sq ft. The URA has...
Continue Reading • 2 Dec 2010
NTUC Choice Homes to launch the Privé
NTUC Choice Homes Co-operative, along with its joint venture partner CEL Development, has announced that it will open the Privé, the first executive condominium at Punggol Field / Punggol Road, for viewing and application from December 3 to 7.Ms. Margaret Goh, chief executive of NCH, said:...
Continue Reading • 1 Dec 2010
China property market inflated yet stable: Moody's
China’s real estate market has gone through asset inflation over the last 18 months, but improved liquidity levels and government intervention will help avoid a significant downturn in the market, said global credit ratings agency Moody’s.The agency expects a “moderate...
Continue Reading • 1 Dec 2010
Singapore's market cap down 0.62%
Singapore saw a 0.62 percent decline in market capitalisation over the month to $823 billion, due to eurozone debt concerns and new political tensions in Korea.According to data from The Business Times, the market cap for November hovered at a near three-year high, or at pre-crisis levels, at...
Continue Reading • 1 Dec 2010
Australia's rising interest rates forces house sales
One in 10 home buyers in Australia believe the latest round of interest rates could force them to sell their house, according to a survey.The Mortgage Choice survey, completed a day before the Reserve Bank's decision to lift interest rates, indicated that 9 percent of mortgage holders could not...
Continue Reading • 1 Dec 2010
Economists raise growth forecasts for 2011
Many economists have raised their growth estimates for the Singapore economy in 2011, exceeding the official forecast range in some cases.The services sector will be the prime driver of this growth, even as the challenges of managing capital inflows and inflation persist.“Services will...
Continue Reading • 1 Dec 2010
JLL launches Property Investment Guide for Asia Pacific
Jones Lang LaSalle (JLL), in conjunction with law firm Blake Dawson, has launched a joint Property Investment Guide for Asia Pacific.The guide, which covers 14 major countries, deals with issues ranging from property tenure, operational requirements for foreign corporations and major property...
Continue Reading • 1 Dec 2010
Oxley Holdings' Q1 profit soars
Newly listed property developer Oxley Holdings has posted an eleven-fold jump in net profit for the first quarter, as the company recorded revenue from its maiden property projects.Revenue for the first quarter 2011 hit $9.9 million, attributed to good sales recognitions from projects like Suites...
Continue Reading • 1 Dec 2010
Four Points by Sheraton debuts in Thailand
Starwood Hotels & Resorts Worldwide has announced the opening of Four Points by Sheraton Bangkok, Sukhumvit 15, marking the debut of the Four Points by Sheraton brand in Thailand.Situated in the prime entertainment and commercial district of Sukhumvit, in Bangkok, the hotel offers one of the...
Continue Reading • 1 Dec 2010