CapitaLand reaches out to investors
Property developer CapitaLand has distributed about $3.2 billion to shareholders through an in-specie and dividends distribution over the last ten years, while total shareholder return stands at $11.9 billion, an increase of 172 percent.The group has also recorded a total net profit of $7.5...
Continue Reading • 11 Oct 2010
BofA suspends foreclosures across the US
The Bank of America (BofA) has implemented a nationwide moratorium on foreclosures after the bank came under attack at how it handles documents to support the eviction process.The largest US mortgage servicer is the first bank in the US to impose a nationwide moratorium on foreclosures.“We...
Continue Reading • 11 Oct 2010
Asia to continue lead in global recovery despite risks
Asia will likely to continue leading the global economic recovery in the near term, with India and China taking the frontline, according to an International Monetary Fund (IMF) official.“We expect Asia to continue leading the global recovery in the near term and to grow by 8 percent in...
Continue Reading • 11 Oct 2010
KepLand unit invests in South Korean property
Macro Trends Fund, managed by Alpha Investment Partners (AIP), the wholly owned property fund management unit of Keppel Land, has invested US$210 million in the Seoul Square, an office building in South Korea.AIP established the US$1.2 billion Macro Trends Fund in 2007 to concentrate on prominent...
Continue Reading • 11 Oct 2010
Xbox 360 Kinect coming to Singapore
Microsoft Xbox 360 Kinect is set to come to Singapore on November 18, clearing the way for controller-free gaming.“Kinect brings games and entertainment to life in extraordinary new ways, no controller required,” said Ben Tan, Regional Director, SEA and Korea, Retail Sales and...
Continue Reading • 11 Oct 2010
Singapore's GDP growth to slow in Q3
Singapore is likely to see a sharp decline in its GDP growth in the third quarter, a deceleration that will be headed by the biomedical sector, according to a recent survey conducted by Reuters.The poll of 15 economists puts Q3 economic growth at 10.8 percent year-on-year, lower than the 16.9...
Continue Reading • 11 Oct 2010
Wincheer Investment tops bid for Petir Road site
The URA has announced that the public tender for the Petir Road site has attracted a total of nine bids, with Wincheer Investment Ltd offering a top bid of $177.4 million.This translates to around $3,714.09 psm per gross floor area (GFA). The second highest bid came from Sim Lian Land Ltd at...
Continue Reading • 8 Oct 2010
Western investors may turn to emerging markets
Western investors will likely focus on emerging markets in Southeast Asia, Asia Pacific and the Middle East, as developed economies fall behind on financial recovery, said Ethan Penner, executive managing director of CB Richard Ellis (CBRE) Investors and head of CBRE Capital Partners.“Many...
Continue Reading • 8 Oct 2010
The Canopy set for weekend launch
Property developer MCC Land is launching its first residential project, The Canopy EC, this weekend.The 99-year leasehold project comprises two-, three- and four-bedroom apartments with sizes ranging from 872 sq ft to 1,410 sq ft. The 406-unit project also features penthouses sized from 2,088 sq...
Continue Reading • 8 Oct 2010
Shanghai buyers limited to one new home
The government of Shanghai has implemented a new property measure, limiting homebuyers to acquire only one apartment unit, and will impose revised land appreciation tax as part of their move to curb property prices, said a local media reporter.According to the new rule, every family living in...
Continue Reading • 8 Oct 2010
UK's new mortgage deals skyrocket
The number of mortgage transactions available in the UK through mortgage brokers has jumped 57 percent in the past six months, with more than 2,600 new mortgages that have been introduced since April this year, according to UK mortgage specialist Mortgage Brain.But the month of September recorded...
Continue Reading • 8 Oct 2010
LaSalle wins top accolades
Global real estate investment manager LaSalle Investment Management (LaSalle) has been named Asia’s Best Investment Manager and the Global Best Investment Manager at the Euromoney Real Estate Awards 2010.“We are delighted to have been awarded this prestigious accolade by the readers...
Continue Reading • 8 Oct 2010
Global Logistics to raise S$3.45bn in IPO
Global Logistic Properties Ltd., the overseas logistics unit of Government of Singapore Investment Corp., plans to raise S$3.45 billion in the largest public offering in Singapore since 1993, according to sources.Shares in Global Logistics were valued at S$1.96 per share, the top end of a range...
Continue Reading • 8 Oct 2010
Aussie rental markets slightly recovers in Q3
Australian rental markets have shown signs of tentative recovery. Rents in some areas are slightly up following below average growth over the last 12 months.According to the Rent Review Report released by RP Data for the September quarter, average prices climbed 2.8 percent and 2.9 percent in...
Continue Reading • 8 Oct 2010
HSBC UK cuts mortgage rates
HSBC UK has cut interest rates on some of its mortgage products to help struggling homeowners pay their monthly mortgage debt, said Martijn van der Heijden, head of lending at HSBC.The bank’s mortgage rates on its 80 percent loan-to-value (LTV) were reduced by 0.4 percent to help customers...
Continue Reading • 8 Oct 2010
Resale flat transactions set to decline
The recent property cooling measures have begun to affect the public housing sector, with the HDB expecting a 25 percent decline in the number of resale flat transactions in September compared with the previous month.Real estate agents are also expecting a decline in cash premiums for resale...
Continue Reading • 7 Oct 2010
Lippo selling 120.5m OUE shares
Golden Concord, a wholly-owned Indonesian unit of Lippo Group, is selling its shares in Singapore's Overseas Union Enterprise for up to 120.5 million, or around S$2.70 to S$2.80 a piece, according to Reuters.The company’s share represents 12 percent of OUE’s capital. OUE, which...
Continue Reading • 7 Oct 2010
HK property on Stanley Main Street up for sale
An eye-catching blue property at No. 88 Stanley Main Street in Hong Kong has been launched for sale through a public tender. Colliers International, the sole marketing agent for the property, said the blue-building property has a total site area of 948 sq ft and an existing gross floor area of...
Continue Reading • 7 Oct 2010
GuocoLand unit acquires Shanghai site
Singapore-listed property developer GuocoLand Ltd has announced that its sister company and one of its wholly-owned subsidiary jointly acquired a land parcel in Shanghai for approximately RMB3 billion.GuocoLand said in a statement that the bid for the land parcel was made by Guoco Investments...
Continue Reading • 7 Oct 2010
Chinese Golden Week fails to see market rebound
The week-long Chinese National Day holiday, which usually sees the annual peak time for real estate sales in the country, failed to witness a rebound in the market as the government’s recent price-cooling policies take effect.Based on figures released by the Beijing Real Estate Trade...
Continue Reading • 7 Oct 2010