Govt remains cautious on property bubbles
The Singapore government is looking out for possible bubbles particularly in the property market, said Senior Minister Goh Chok Tong.“We periodically act pre-emptively to let some air out of property bubbles before they burst with a bang,” he said at a panel discussion in the United...
Continue Reading • 18 Oct 2010
Two Singapore IPOs likely to surge on debut
Two industrial property IPOs, valued at approximately US$3.7 billion will likely surge when they launch in Singapore this week due to their high yield and exposure to China’s economy.Global Logistic Properties (GLP), the logistics arm of Singapore sovereign wealth fund GIC, is expected to...
Continue Reading • 18 Oct 2010
GuocoLand posts $13.4m Q1 profit
Property developer Goucoland Ltd. has announced that its Q1 net profit increased 9 percent to $13.4 million from last year’s $12.4 million.Q1 revenue jumped 15 percent to $109.9 million from $95.7 million, attributed to better sales returns from residential projects like Elliot at the East...
Continue Reading • 18 Oct 2010
Over 50% of units at Suites @ Orchard sold
Around 65 apartments at the 118-unit Suites @ Orchard project have been sold as of yesterday, at average prices of between $2,000 psf and $2,200 psf.“About 65 percent of buyers are Singaporeans. Many of those who purchased were young professionals although we've also had families picking up...
Continue Reading • 15 Oct 2010
URA wins international award
The URA has received the Urban Land Institute (ULI) Global Awards for Excellence 2010 for the development and transformation of the 9-km-long Southern Ridges.Widely recognised as one of the most prestigious recognition programme in land use industry, the ULI Global Awards for Excellence...
Continue Reading • 15 Oct 2010
Singapore economy declines 19.8%
Singapore’s economy has recorded an unprecedented decline of 19.8 percent quarter-on-quarter, the worst quarterly drop since 1975, according to the Monetary Authority of Singapore (MAS).This is a record sequential contraction and worse than the “free-fall” in GDP suffered in the...
Continue Reading • 15 Oct 2010
RSH to be delisted on SGX
Retail group RSH is expected to be delisted from the Singapore Exchange (SGX) today, after Syed Azmin bin Syed Nor, a Malaysian businessman, completes his takeover of the company.Mr. Syed Azmin, brother of Malaysian businessman Syed Mokhtar Albukhary, has purchased all RSH shares he did not...
Continue Reading • 15 Oct 2010
Singapore's Q3 GDP slows
Singapore’s GDP growth in the third quarter slowed dramatically to 10.3 percent due to a slowdown in the manufacturing sector, according to advance estimates released by the Ministry of Trade and Industry (MTI).MTI said the decline in Singapore’s growth momentum was an expected...
Continue Reading • 15 Oct 2010
China's hot property prices fail to curb buying sentiment
Within days of China’s authorities announcing another set of property cooling measures, thousands of people have been seen attending property shows across China.Samsung Securities and Standard & Poor’s both expect a 10 percent decline in prices in first-tier cities in the next 6...
Continue Reading • 15 Oct 2010
Surbana eyeing one township project a year
Surbana Corporation is now targeting to roll out one township project each year after it crossed the 10,000 mark in home units sold.“My target to them is to start one township a year,” said Lim Jit Poh, chairman of Surbana Corporation, in an interview with The Business Times, adding...
Continue Reading • 15 Oct 2010
Problems for first-time UK home buyers increase
The roadblocks facing potential first-time home buyers in the UK are increasing, and the latest Mortgage Market Review proposals from the regulator could make it even worse.A report published by insurer Genworth Financial entitled “Financial Barriers to Home Ownership" suggests that...
Continue Reading • 15 Oct 2010
K-REIT Asia appoints Eve Chan as CFO
K-REIT Asia Management Limited (KRAM) has announced that it has appointed Ms. Eve Chan as its chief financial officer effective today.Ms. Chan has over 18 years of experience in group accounting, tax, finance, corporate finance and treasury where she held several senior finance posts with...
Continue Reading • 15 Oct 2010
London tops Europe's property investment market
London has been named the most attractive European city for real estate investment by LaSalle Investment Management, one of the world’s top global real estate investment managers.LaSalle said in its 12th annual European Regional Economic Growth Index that medium term demand for commercial...
Continue Reading • 14 Oct 2010
Keppel Land collaborates with Saporiti Italia for Reflections project
Keppel Land is collaborating with luxury Italian interior and furniture design company Saporiti Italia to furnish Reflections @ Keppel Bay, which is slated for completion in 2012.The premier waterfront residences development features 1,129 luxurious waterfront units along a 750m shoreline, all...
Continue Reading • 14 Oct 2010
Singapore ranks as third listing destination in APAC
Singapore has been ranked as the third listing destination in the Asia-Pacific region, behind Hong Kong and Shanghai, in a survey of financial sector professionals conducted by law firm Norton Rose.The poll was taken by 314 bankers, fund managers, insurers and other experts worldwide from July to...
Continue Reading • 14 Oct 2010
US$281b capital set to flow into property, says DTZ
Nearly US$281 billion of capital will be available for global real estate investment next year, said DTZ Research. This is 22 percent higher compared to the company’s previous estimate in December last year, as more capital is expected to flow into the real estate markets in Asia-Pacific...
Continue Reading • 14 Oct 2010
Hong Kong to limit property investment immigration
Hong Kong will limit property investment immigration and increase housing supply to cool down the red-hot property market, said Donald Tsang, Hong Kong chief executive.Mr Tsang said in his annual policy address that the Hong Kong government would temporarily limit immigration based on property...
Continue Reading • 14 Oct 2010
SEB units take 60% stake in Chinatown Point acquisition
Entities managed by SEB, a German fund manager, have taken a 60 percent stake in a consortium that purchased Chinatown Point shopping centre and four office units, said SEB Asset Management.It said that a segregated account managed by SEB has taken a 30 percent stake, while the other 30 percent...
Continue Reading • 14 Oct 2010
Mortgage quality in the US still lacking
Fannie Mae, the largest provider of residential credit in the US, said it is intensifying efforts to help mortgage lenders identify defective loans amidst signs that mortgage quality in the US is falling short.The government-backed mortgage firm will halt more home loans with defect from being...
Continue Reading • 14 Oct 2010
Samsung introduces full range of mobile PCs
Samsung Electronics Co. Ltd unveiled its newest lineup of four new mobile PC series to further strengthen its position in the market.Based on figures released by GfK for the third quarter of the year excluding September, Samsung secured the number two market position in the netbook category in...
Continue Reading • 14 Oct 2010