Fragrance to acquire Upp Paya Lebar site
Fragrance Group Limited, through its wholly-owned subsidiary, Fragrance Properties Ltd, has agreed to purchase a site at Upper Paya Lebar Road for approximately S$28 million.The freehold property site, which currently houses old apartment blocks, has a total land area of 3,173.6 sq m with a gross...
Continue Reading • 16 Nov 2010
Sales of used homes in HK fall
Sales of used homes in several of Hong Kong’s largest private housing estates dropped for a fourth week, as Cheung Kong Ltd launched its newest project, diverting home buyers away from the secondary market.Centaline Property Agency Ltd, HK’s largest privately held property broker,...
Continue Reading • 16 Nov 2010
Yuan Ching Road land parcel up for tender
A site at Yuan Ching Road has been launched for sale under the Design, Build and Sell Scheme (DBSS).Proposed for public housing development, the 99-year leasehold site could potentially yield up to 580 housing units. It has a total site area of 21,199.7 sq m and a maximum allowable gross floor...
Continue Reading • 16 Nov 2010
URA launches hotel site for sale
The URA has launched a hotel site at Gopeng Street / Peck Seah Street for sale through a public tender, after a developer committed to bid not less than S$94.05 million.It was made available for sale on February 21 through the government’s Reserve List system. The site is located at the...
Continue Reading • 16 Nov 2010
Some high-end homes resold at a loss
Nine units purchased in 2009 were sold this year at a loss in the sub-sale market, according to an analysis by Savills of caveats captured by the URA Realis as of October 19.According to the analysis, 78 out of 87 homes purchased between 2006 and 2009 were sold for a profit.The sellers who lost...
Continue Reading • 15 Nov 2010
Aussie home loans stabilise
An improved September result for home lending in Australia indicate that home loans have stabilised, but the recent increase in interest rates may likely limit any further increases, according to economists.According to the Australian Bureau of Statistics, Australian housing finance commitments...
Continue Reading • 15 Nov 2010
Developers, agents offer rewards to boost home sales
With the slowdown in home sales, property developers and agents are trying to boost buying interest by offering rewards such as cash vouchers, lucky draws and holidays.One of them is property developer Wing Tai Holdings, which is holding a promotion at its Ascentia Sky project in Alexandra...
Continue Reading • 15 Nov 2010
Moderate economic growth in 2011, says PM Lee
Singapore’s economy cannot grow another 10 percent in 2011 as another growth spurt would mean risks in overheating bringing in foreign workers, said Prime Minister Lee Hsien Loong.A growth range of 3 percent to 5 percent in the medium term would be more realistic, said Mr. Lee after the...
Continue Reading • 15 Nov 2010
HDB awards Upper Serangoon View condo site
HDB has awarded a land parcel at Upper Serangoon View to FCL Topaz Ltd, Far East Civil Engineering Ltd and Sekisui House Ltd after they offered a joint bid of $156.80 million in a public tender that closed on November 9.The site is proposed for condominium housing development, and could...
Continue Reading • 15 Nov 2010
Metro Holding's Q2 profit up 19.7%
Property and investment group Metro Holdings Ltd has announced that its net profit rose 19.7 percent in the second quarter to $43.4 million, attributed to higher revenue from its property and retail businesses.The group recorded $51.9 million in earnings for the second quarter ended 30 September...
Continue Reading • 15 Nov 2010
Bukit Sembawang's Q2 revenue jumps to $92.2m
Bukit Sembawang Estates Ltd’s revenue for the second quarter jumped to $92.2 million from $20.7 million over the same quarter last year, while earnings soared to $30.9 million from $6.7 million.The company’s Q2 net profit also climbed to more than four times over the same period last...
Continue Reading • 15 Nov 2010
320 units at The Lakefront Residences sold
Keppel Land’s The Lakefront Residences has sold 70 units over the weekend, bringing its total sales to 320 units sold.This represents 80 percent of the 400 units currently in the market for sale, where the average psf price for the project is at $1,020, said a Keppel Land spokeswoman.The...
Continue Reading • 15 Nov 2010
HK to act against property speculation
Hong Kong Chief Executive Donald Tsang has announced that the city-state will take administrative and legislative action against speculative activity within the housing market.Asian markets are drawing “huge amounts” of liability, which increases inflationary pressure on their asset...
Continue Reading • 15 Nov 2010
Soilbuild's revenue down 52% in Q3
Integrated property developer Soilbuild Group has reported that its revenue in the third quarter declined 52 percent to S$45.9 million from S$95.0 million a year ago, on the back of a 27 percent decline in Q3 gross profit to S$23.4 million against the S$31.9 million achieved a year ago.This was...
Continue Reading • 12 Nov 2010
ARA's YTD profits jump 11%
Real estate fund management firm ARA Asset Management Limited has posted an 11 percent increase in net profit in the nine months ended 30 September 2010 to S$38.1 million.The company’s total year-to-date revenue also jumped 19 percent to S$70.8 million, driven by a 28 percent increase in...
Continue Reading • 12 Nov 2010
Weekly mortgage demand in the US rises
Demand for home loans in the US recovered sharply in the last week, thanks to low fixed mortgage rates, which still hover near all-time lows.According to a report from the Mortgage Bankers Association (MBA), the total loan applications index, a gauge of mortgage loan application volume, increased...
Continue Reading • 12 Nov 2010
China to restrict foreign property investment
China plans to restrict foreigners from investing in the country’s already speculative property market, according to a report from the Securities Times.The Ministry of Housing and Urban-Rural Development and the State Administration of Foreign Exchange have issued a notice to outline the...
Continue Reading • 12 Nov 2010
IKEA kicks off Christmas drive
IKEA has begun mailing out a Winter and Seasonal Kitchen Brochure to all Singapore households for customers to browse through a range of ideas and inspiration in preparation for the festive season.IKEA is also continuing its joint global effort to help fund UNICEF and Save the Children...
Continue Reading • 12 Nov 2010
Koh Brothers' profit soars 38% to S$10.1m
Construction and property development group Koh Brothers has announced that its net profit for the nine-month period ended 30 September 2010 jumped 38 percent to S$10.1 million, compared to S$7.3 million over the same period last year.The growth was achieved on the back of a 14 percent jump in...
Continue Reading • 12 Nov 2010
UE's profits up nearly 200%
Property and construction group United Engineers Limited has posted a 35 percent increase in revenue to $655.8 million in the nine months ended September 30, attributed to progressive recognition of revenue from property sales, while net profit jumped 199 percent to $96.9 million.Revenue from...
Continue Reading • 12 Nov 2010