DBS raises Singapore's full-year GDP forecast
DBS Bank has raised Singapore’s full-year GDP forecast to 13 percent, up from the previous 10.3 percent, attributed to the 15.5 percent year-on-year increase in Q1 on the back of strong production in the manufacturing sector.DBS is also optimistic on the GDP figures for Q2, with the...
Continue Reading • 1 Jul 2010
Lian Beng wins S$88m building contract
Construction firm Lian Beng has won an S$88-million contract to develop a condominium project at Spottiswoode Park Road.The contract, awarded by UOL Development, covers the development of a 36-storey residential tower as well as other ancillary facilities. This is the company's fourth building...
Continue Reading • 1 Jul 2010
CDL wins two CSR awards
Property developer City Developments Limited (CDL) has won two top awards at the Global CSR Awards 2010 -- CSR environmental excellence and leadership awards.The Global CSR Awards recognise firms for world-class, innovative and outstanding programmes, products and services implemented during the...
Continue Reading • 1 Jul 2010
FEO revamps design for Scotts Tower
Property developer Far East Organisation (FEO) has changed the design and architect for Scotts Tower situated at the junction of Scotts and Cairnhill roads.The 31-storey, 153-m tower was originally planned to yield 67 luxury apartments with panoramic views and had a built-up floor area of around...
Continue Reading • 1 Jul 2010
FEO launches Inessence brand
Far East Organization (FEO) launched its luxury development brand – 'Inessence' – with a sneak preview of 'Skyline @ Orchard Boulevard' yesterday.Four developments – Alba, Boulevard Vue, Scotts Tower and Skyline will come under the 'Inessence' brand.Two trademarks of the...
Continue Reading • 1 Jul 2010
H1 property auction market jumps 20 percent
The property auction market in Singapore has jumped 20 percent on-year to S$87 million in the first half of 2010, according to property consultancy firm Colliers International.About 440 properties were put up for sale in the auction market, out of which 378 properties came from property owners...
Continue Reading • 1 Jul 2010
US mortgage rates drop in latest week
US interest rates for 30-year fixed mortgages fell in the latest week to a record low, according to property website Zillow.com.Lower mortgage rates in the US may sustain refinancing, making homes more affordable as the residential market copes with the absence of support.The average rates for...
Continue Reading • 30 Jun 2010
UK home price increase slows dramatically in June
Home prices in the UK increased the least in five months in June, as the supply of residential units for sale increased and the plan for a budget cut curbed demand, according to property researcher Hometrack Ltd.The average price of homes in England and Wales rose 0.1 percent to £158,900...
Continue Reading • 30 Jun 2010
CapitaLand to expand Raffles City brand in China
CapitaLand Ltd may expand its Raffles City brand in China by renaming two projects in Shanghai and the port city of Tianjin.“If we can make some adjustments, we can rename them as Raffles City because they are very well located,” said Lim Ming Yan, CEO of CapitaLand’s unit...
Continue Reading • 30 Jun 2010
Singapore ranked 11th most expensive city for expats
Singapore has ranked as the 11th most expensive city in the world for expats, down one notch from last year’s 10th place, according to HR consultancy company Mercer.However, Singapore has climbed one notch to fourth spot among the Asia-Pacific cities, in which for the first time has three...
Continue Reading • 30 Jun 2010
Singapore: Asia's safest place for business
French trade credit insurer Coface has named Singapore as the safest place for business in Asia.The company has raised the country’s rating to A1 from last year’s A2 to reflect the financial obligations of local businesses to repay their debts.Experts also said that many companies are...
Continue Reading • 30 Jun 2010
MTI launches 10 industrial sites up for sale
Singapore’s Ministry of Trade and Industry (MTI) has launched its Industrial Government Land Sales programme for the second half of 2010.The programme covers a total site area of 19.92 hectares with three sites now on the Confirmed List with seven more on the Reserve List.The three land...
Continue Reading • 30 Jun 2010
Double Bay Residences' launch boosts unit prices
Double Bay Residences may still take three years to complete, but some buyers of the 646-unit, sold out condominium project have already cashed out for a profit.The 99-year leasehold project located at Simei Street 4 was launched in March 2009 amid uncertainty in the real estate market. Units...
Continue Reading • 30 Jun 2010
Non-landed private home price index up 2.6 percent
The overall price index for non-landed private homes has climbed 2.6 percent in May compared with the previous month, according to the newest flash estimates released by the National University of Singapore (NUS). The index has appreciated 8.6 percent since the end-2009.The Singapore Residential...
Continue Reading • 30 Jun 2010
Increase in private home prices to ease in Q2
Increases in private home prices in Singapore is expected to ease in the second quarter this year, after a 5.6-percent jump in the first quarter.While prices of suburban homes have already exceeded its peak by ten percent, it could cost two percent to three percent more over the next two...
Continue Reading • 30 Jun 2010
Singapore property market sees more signs of slowdown
The Singapore private property market has seen more signs of a slowdown in the second quarter.According to property consultancy firm CB Richard Ellis (CBRE), about 4,000 new home units were sold in Q2, down from 4,380 units sold in Q1.CBRE also estimated that about 3,400 to 3,600 resale home...
Continue Reading • 30 Jun 2010
Loan approvals in Hong Kong up in May
New mortgages approved in Hong Kong rose 34.3 percent in May from the previous year, and increased 0.1 percent in value terms from April, according to figures released by the Hong Kong Monetary Authority (HKMA).The figures showed that new mortgages approved reached HK$37.8 billion (S$6.74...
Continue Reading • 29 Jun 2010
MDIS to establish campus in Malaysia
Management Development Institute of Singapore (MDIS) – Singapore’s oldest not-for-profit professional institute for lifelong learning, has signed a deal with Education@Iskandar Sendirian Berhad (EISB), a member of the Iskandar Investment Group, to set up a 30-acre MDIS Campus in...
Continue Reading • 29 Jun 2010
StanChart cuts Singapore real estate companies
Standard Chartered has downgraded its recommendations on real estate firms Keppel Land Ltd, CapitaLand Ltd and City Developments Ltd, referring to lower launch prices next year due to larger land supply."We expect an increase in the residential supply in the pipeline in 2011 mainly due to...
Continue Reading • 29 Jun 2010
World Cities Summit opens in Singapore
The second biennial World Cities Summit (WCS) has opened in Singapore, with Deputy Prime Minister and Defence Minister Teo Chee Hean formally launching the programme.The event brings experts, professionals and leaders together, and provides a platform for important talks on governance and...
Continue Reading • 29 Jun 2010