Zephyr Point set for October launch
Urban Hallmark Properties (UHP) has announced that Zephyr Point, an upscale boutique development located in Lorong Basong, Damansara Heights, is likely to be launched in October.The development is almost complete and is currently awaiting its certificate of fitness (CF), said Datuk Jeffrey Ng,...
Continue Reading • 30 Sept 2010
Tourism in Singapore soars
Singapore has recorded an 18 percent growth in visitor arrivals to 996,000 in August this year, the highest seen for the month and the ninth straight month of record visitor arrivals.The growth in visitor arrivals in August was partly driven by the continuing strength of the Asian economy, the...
Continue Reading • 29 Sept 2010
Be cautious about property signals, says expert
The anti-speculative measures implemented by the government on August 30 to cool the property market could send out misleading signals, according to a property veteran.In a telephone interview with The Business Times, David Lawrence, chief executive officer of Wheelock Properties (Singapore),...
Continue Reading • 29 Sept 2010
Prices of non-landed private homes still flat
Non-landed private home prices were still flat in August compared with the previous month, according to the latest flash estimates released by the National University of Singapore (NUS). The Singapore Residential Price Index (SRPI), which is compiled by the NUS Institute of Real Estate Studies,...
Continue Reading • 29 Sept 2010
UK lender resumes buy-to-let loans
UK mortgage lender Paragon will resume buy-to-let mortgages for landlords after securing new capital, as many people are opting to rent rather than purchase property in a volatile market.“Demand for rental property has never been as strong,” said Nigel Terrington, chief executive of...
Continue Reading • 29 Sept 2010
DBS Group opens Asia Hub
DBS Group has opened the DBS Asia Hub, a new state-of-the-art facility located at Changi Business Park.The nine-storey building, which covers over 340,000 sq ft, houses most of the bank’s operations, technology and support functions.It is also a home to over 3,000 or more than 40 percent of...
Continue Reading • 29 Sept 2010
Sony launching new range of gadgets
Sony Singapore is unveiling an extensive suite of 3D entertainment solutions aimed at revolutionising the viewing experience of consumers. With the launch of its newest range of 3D BRAVIA TVs and 3D Blu-ray home theatre system, consumers can enjoy high quality 3D entertainment in the comfort of...
Continue Reading • 29 Sept 2010
Malaysian officials to take action on dodgy construction
The Malaysian government will take strict action against shoddy property development practices, warned Malaysian Local Government and Housing Minister Datuk Wira Chor Chee Heung. His comments were reported by Bernama news agency. “The government will make it more difficult to be a licensed...
Continue Reading • 29 Sept 2010
Morgan Stanley still Asia's largest fund manager
Morgan Stanley remains Asia-Pacific’s largest property fund manager, according to a survey, despite having some problems with its investments in Japan.Hong Kong-based industry group Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV) said Morgan Stanley has managed...
Continue Reading • 29 Sept 2010
Acmar International appoints main contractor for KL project
Malaysia-based developer Acmar International has appointed ITD Vertex Consortium Sdn Bhd as the main contractor for the D’Rapport mixed-use development project located in Ampang, Kuala Lumpur.ITD Vertex Consortium Sdn Bhd, a joint venture between Singapore’s Vertex Far East Pte Ltd...
Continue Reading • 28 Sept 2010
NZ to limit foreigner land acquisition
New Zealand will place new controls on foreign investors acquiring large land parcels to address the growing concerns of foreigners acquiring too much farmland in the country.New measures to evaluate the merit of overseas investors in land will include a test that will consider whether the...
Continue Reading • 28 Sept 2010
New reverse mortgage option announced in the US
The Federal Housing Administration (FHA) has announced a new modified version of Home Equity Conversion Mortgage (HECM) product.A reverse mortgage insured by the federal government, the HECM loan allows elderly home owners to tap into their equity to cover healthcare costs and living expenses...
Continue Reading • 28 Sept 2010
New condo in Kembangan set for preview
A joint venture between Malaysia-based Sunway Group and Singapore developer Hoi Hup Realty is holding a preview of Vacanza @ East, a freehold condominium project located in Kembangan, today. The 12-storey Vacanza @ East will yield a total of 473 units in seven blocks, comprising one to...
Continue Reading • 28 Sept 2010
Two GCBs sold at Colliers auction
Two Good Class Bungalows (GCBs) located at Margoliouth Road and Sixth Avenue have been sold at a Colliers International auction for a total of $25.6 million, increasing the total sales of properties sold at auction to approximately $54.1 million this quarter.With three more auctions to go before...
Continue Reading • 28 Sept 2010
HK unit sold at record breaking price
Henderson Land announced that it has sold a flat at its 39 Conduit Road development located in Mid-Levels West for HK$60,000, which made it, in terms of price psf, the most expensive apartment in Hong Kong.A house at Severn 8 on The Peak is still the most expensive residence in the city fetching...
Continue Reading • 28 Sept 2010
Qingdao Construction wins bid for Punggol EC site
HDB has awarded the land parcel at Punggol Drive / Punggol East to Qingdao Construction Ltd after it offered the highest bid in a public tender that closed on September 23.The property developer offered $136.2 million for the 99-year leasehold EC site, which has a total site area of $136,170 and...
Continue Reading • 28 Sept 2010
Residential price rises slowed in Q3
All housing segments in Singapore have seen a slowdown in the rate of price increases in the third quarter compared to the earlier period, according to estimates released by DTZ Research.Mass market homes continued to lead the price increase, with resale prices of leasehold homes in the suburban...
Continue Reading • 28 Sept 2010
Q3 sees fewer GCB deals
Rising prices have widened the gap in expectations between buyers and sellers, and slowed down demand in the third quarter, said some industry players including Mr. Douglas Wong, director for luxury homes at CB Richard Ellis (CBRE).According to CBRE’s analysis of URA Realis caveats captured...
Continue Reading • 28 Sept 2010
Metro Holdings sells interest in Beijing project
Metro Holdings has announced that its 50 percent owned unit, Nordevo Investments Ltd, has agreed to sell its 50.1 percent stake in Metropolis Holding China Ltd, which owns Metropolis Tower in Beijing.The sale and acquisition agreement includes the US$15.3 million shareholders loans payment, as...
Continue Reading • 27 Sept 2010
US REITS sell shares to fund property acquisition
US real estate investment trusts are selling shares to finance the purchases of property after using record cash from equity offerings in 2009 to cover dividends and reduce debt.According to a data compiled by Bloomberg, landlords have sold $1.38 billion of stocks since September 17. They have...
Continue Reading • 27 Sept 2010