MND: Singapore has 'adequate' housing supply
The Ministry of National Development (MND) has announced that the government will continue to ensure that there is adequate supply of housing in the country to meet demand.In the H2 2010 Government Land Sales (GLS) Programme, the MND has made available land sites that can yield 13,900 private...
Continue Reading • 30 Aug 2010
China to strengthen property price management
The central government of China will strengthen property price management throughout the year on expectations of lower inflation, said Zhang Ping, director of the National Development and Reform Commission.According to a report from ShanghaiDaily.com, the Chinese government will further improve...
Continue Reading • 30 Aug 2010
Rental properties in Sydney rising
The number of rental properties in Sydney increased to a near 12-month high in July, according to figures from the Real Estate Institute of NSW (REINSW).However, the number of available properties for rent declined slightly in Newcastle, and remained unchanged in Wollongong.In general, the...
Continue Reading • 30 Aug 2010
Du Val launches NZ$250 million property fund
Auckland-based fund manager Du Val Group is looking for investors from Hong Kong and Singapore after it launched its first property fund, a NZ$250-million (S$239.6 million) “mid market” fund that will focus exclusively on the New Zealand real estate market.The fund intends to...
Continue Reading • 30 Aug 2010
GuocoLand posts full-year profit of $134.3m
Property developer GuocoLand Ltd. has posted a full year profit of $134.3 million, recovering from a $70.2 million loss in the previous year, when it recorded a net forex loss of $34.3 million and a revaluation loss of $80.9 million.Gross profit nearly doubled to $245.4 million from last...
Continue Reading • 30 Aug 2010
Australia's Mortgage Choice warns of impending rate rise
Mortgage Choice, the biggest mortgage broker in Australia, is gearing up for an increase in interest rates, as banks move to reverse declining profit margins.Michael Russell, chief executive of Mortgage Choice, said that banks are likely to raise rates independently of the Reserve Bank of...
Continue Reading • 27 Aug 2010
Singapore 25th most expensive city for travellers
Singapore has been ranked as the world’s 25th most expensive city for business travellers from the United Kingdom, up from 44th spot last year, according to the Global Hotel Market Survey.The leap in Singapore’s ranking is in line with reports from the Ministry of Trade and Industry...
Continue Reading • 27 Aug 2010
Ying Li acquires Chongqing site
Ying Li International Real Estate has purchased a commercial development site in the Chinese city of Chongqing for S$139.5 million.The site has a total land area of 102,483 sq ft, and the company said it will develop the site into a 430,556-sq-ft high-end retail space and a 968,752-sq-ft grade A...
Continue Reading • 27 Aug 2010
Prime UK property up for sale
Apartment units at Prime Avenue Baltimore Wharf in London will be launched for sale to Malaysian buyers during a preview in Kuala Lumpur this weekend, said international consultancy group Henry Butcher Malaysia, which is marketing the project.Located in close proximity to the Canary Wharf...
Continue Reading • 27 Aug 2010
Citigroup to set up China desk in Singapore
International financial services company Citigroup plans to set up a China desk in Singapore aimed at encouraging Chinese firms with plans of global expansion to setup business in the country.Citi said that the China desk will include ten relationship managers and product specialists, as well as...
Continue Reading • 27 Aug 2010
Stay Well Group to operate Park Regis KL
Park Regis Hotel Management (PRHM), a wholly-owned subsidiary of Australia’s StayWell Hospitality Group, will manage and operate a four-star hotel at integrated development Taragon Puteri KL.Recently, Bluestone Group Malaysia announced that its subsidiary Taragon Capital Malaysia (TCM) has...
Continue Reading • 27 Aug 2010
Hongkong Land proposes MCL's delisting and exit offer
Property developer Hongkong Land has proposed to delist its 77.4 percent-owned subsidiary MCL Land from the Singapore Exchange and buy the remaining shares that it does not own at $2.45 apiece, representing a 25.6 percent premium from MCL’s last trading at $1.95.HongKong Land said the...
Continue Reading • 27 Aug 2010
Singapore-based US firms expect greater profits
An increasing number of US companies in Singapore are now expecting growth in profit and headcount growth, compared with 2009, though office rentals, international school places and housing costs have emerged as business concerns.“There are great expectations for this year, and with the...
Continue Reading • 27 Aug 2010
Chip Eng Seng unit wins bid for Punggol EC project
Construction and property group Chip Eng Seng Corporation has announced that the $142 million bid for building works offered by its wholly-owned subsidiary CES Engineering and Construction has been accepted by Punggol Field EC.The bid is for the development of a 680-unit executive condominium at...
Continue Reading • 26 Aug 2010
TCT to venture into China's Shandong province
Treasury China Trust (TCT) has completed a strategic partnership agreement with TRIO Group for its expansion into Shandong province, according to Treasury Holdings Real Estate Pte Ltd, trustee manager of TCT.TRIO Group has been successfully operating in Qingdao and the broader Shandong Province...
Continue Reading • 26 Aug 2010
US mortgage applications index rises 4.9%
The number of home loan applications in the US climbed 4.9 percent last week, after rising for four consecutive weeks, according to the Mortgage Bankers Association’s index.Mortgage refinancing jumped 5.7 percent to hit the highest level since May 2009, while home loan purchases rose 0.6...
Continue Reading • 26 Aug 2010
Australia's Q2 property returns increase
Total annualised returns for Australian property increased nearly six times in the second quarter from the previous quarter, but future increases will likely be moderate, according to research company IPD.Total returns for all Australian property types as well as income and capital, surged to 5.9...
Continue Reading • 26 Aug 2010
Credo establishes new business units
Credo Real Estate has named property consultant Ong Teck Hui as head of its new research and consultancy division.The property consultancy firm launched valuation services in June, headed by Joan Chan, who worked for five years as head of the valuation department at CKS Property Consultants....
Continue Reading • 26 Aug 2010
Henderson Land may report lower profits
Property developer Henderson Land Development Co will likely report a lower H1 profit following the failed sales transaction of 20 luxury apartments. The company’s profit, excluding revaluation gains, is likely to drop to HK$1.71 billion for the first half of 2010 from last...
Continue Reading • 26 Aug 2010
Sim Lian net profit jumps 173%
Property developer Sim Lian Group has reported that its net profit for the full year that ended 30 June 2010 jumped 173 percent to $108.2 million from $39.7 million in the previous year, attributed to a surge in revenue from its residential projects.Revenue also climbed 32 percent on-year to...
Continue Reading • 26 Aug 2010