Keppel Land tops-out Ocean Financial Centre
Keppel Land Limited has topped-out its latest development – Ocean Financial Centre – further strengthening its position as the leading developer of international-grade commercial offices.The topping-out for Ocean Financial Centre was commemorated by Ms. Grace Fu, Senior Minister of...
Continue Reading • 8 Jul 2010
22% of net lettable area at 50 Collyer Quay leased out
Mainboard listed Overseas Union Enterprise (OUE) has announced that its subsidiary – Clifford Development – has obtained pre-committed leases of almost 88,000 sq ft for its latest development 50 Collyer Quay, which translates to around 22 percent of the total net lettable area.The...
Continue Reading • 8 Jul 2010
Foreigners seek more landed homes
Foreigners have purchased more landed homes in District 15, which includes Telok Kurau, Katong, Siglap and East Coast Road – and District 4, which includes Sentosa Cove. The next most popular districts among foreigners purchasing landed properties are Districts 19, 10 and 16, while...
Continue Reading • 8 Jul 2010
UK mortgage worries hit property confidence
The percentage of people expecting home prices to increase within the next six months fell to 78 percent this month from 81 percent in April.About 77 percent of people polled by zoopla.co.uk said mortgage availability in the UK had not improved over the past three months, while 27 percent said it...
Continue Reading • 7 Jul 2010
China set to rule the IPO market in 2010
China is poised to be the biggest initial public offering market in the world this year in terms of both the number of funds raised and new listings, according to a study conducted by PricewaterhouseCoopers (PwC).The number of new listings in China’s two bourses in Shenzhen and Shanghai are...
Continue Reading • 7 Jul 2010
Fu Yu unit sells buildings and land-use rights in Shanghai
A subsidiary of mainboard-listed Fu Yu Corporation has agreed to sell land-use rights and buildings in Shanghai’s Free Trade Zone.The land-use rights comprise a 33,280-sq-m area, which run from 1 March 1996 to 28 February 2046. The deal also includes a three-storey production-cum-warehouse...
Continue Reading • 7 Jul 2010
Hotel Grand Central acquires Australian hotel for A$47m
Singapore-listed Hotel Grand Central has inked conditional agreements to purchase an Australian hotel and its business for of A$47 million (S$55.1 million).The selling price for the Courtyard by Marriott Surfers Paradise in Queensland works out to around A$116,000 per room. The 405-room,...
Continue Reading • 7 Jul 2010
Tsit Wing Coffee Company sells HK property
Tsit Wing Coffee Company, a subsidiary of Tsit Wing International, has sold a Hong Kong property to an independent third party for HK$16.9 million (S$3 million) in cash.The property is located at Kwai Tak Industrial Centre in the New Territories in Hong Kong. It was previously used as a warehouse...
Continue Reading • 7 Jul 2010
CMA acquires Metro's Gurney Plaza Extension
CapitaMalls Asia (CMA) is acquiring Malaysia retail property Gurney Plaza Extension from an associate company of Metro Holdings for S$91.5 million, following Metro’s announcement to exercise a put option.The 134,549-sq-ft Gurney Plaza Extension is a nine-storey retail block located in...
Continue Reading • 7 Jul 2010
AIMS AMP Capital Industrial Reit bags Architecture Award
Mainboard-listed AIMS AMP Capital Industrial Reit has announced that one of its assets has been awarded the Architecture Award in the prestigious Asia Pacific Property Awards 2010.The trust said its 13-storey business park building located at 1A International Business Park (1A IBP) has won the...
Continue Reading • 7 Jul 2010
Two condos to launch for preview this week
Two new condominiums – The Terrene @ Bukit Timah and 368 Thomson – are expected to be released for preview this week.The Terrene, jointly developed by LaSalle Investment Management and UOL Group, is a 999-year leasehold, five-storey project with 172 units, ranging from one bedders to...
Continue Reading • 7 Jul 2010
UK lenders fear mortgage drought
Mortgage lenders in the United Kingdom expect the number of new home loans to drop within the next three months, said the Bank of England.The expected decline in mortgage applications will raise fears that a second credit crunch could probably emerge, with many banks and lending institutions...
Continue Reading • 6 Jul 2010
Glorious Property cautious on sales outlook for H2
Shanghai-based developer Glorious Property said it is cautious on the outlook for late-2010 sales, following the harsh measures introduced by the government in an attempt to rein in the red-hot property market.Glorious Property logged contracted sales of 4.2 billion yuan (S$862 million) in H1...
Continue Reading • 6 Jul 2010
Former IMF economist gloomy on Chinese property market
The Chinese property market is starting a collapse that will affect the banking system, said Kenneth Rogoff, an economics professor from Harvard University.Property transactions have declined and prices are sluggish following the central government’s measures to cool the property...
Continue Reading • 6 Jul 2010
Hong Kong home sales drop to 14-month low
Home sales in Hong Kong dropped to the lowest level for the 14th straight month in June, as the government implemented several measures to curb increasing prices in the housing market.According to the Land Registry, the total sales of home units dropped to HK$33 billion (S$5.9 billion) in June...
Continue Reading • 6 Jul 2010
CEO of CapitaLand's Singapore residential business resigns
CapitaLand has announced the resignation of Patricia Chia as chief executive of its Singapore residential business, citing that she wished to “spend more time with her family”.Her post will be assumed by Wong Heang Fine, who will still continue his current role in the development of...
Continue Reading • 6 Jul 2010
BS Capital acquires Kim Keat site for $36m
Boutique developer BS Capital has acquired a freehold site located at Kim Keat Road-Lorong Ampas for more than $36 million or $670 psf of potential gross floor area, which includes an estimated development charge of around $25 million.The site is intended to be developed into a 20-storey project...
Continue Reading • 6 Jul 2010
Villa D'Este up for collective sale
Villa D'Este, a freehold residential site located at Dalvey Road, has been offered for sale through a collective sale exercise. With a guide price of $115 million, it reflects a unit land price of approximately $2,343 psf, with no development charge.The residential site has a total land area of...
Continue Reading • 6 Jul 2010
Property auction sales increase in H1
Property auction sales in Singapore increased to $87 million in the first half of 2010.Property consultancy firm Jones Lang LaSalle's Auction House has announced that over 80 percent of the total listings were put up for sale by owners. According to JLL, the surge in the number of properties...
Continue Reading • 6 Jul 2010
Investment sales market sees increase in larger deals
The investment sales market in Singapore has seen an increase in the number of larger deals sealed, according to property consultancy firm DTZ Research.For Q2 2010, 15 transactions worth more than $100 million were recorded, which totalled around S$3.5 billion. These deals make up almost three...
Continue Reading • 6 Jul 2010