StayWell brings Leisure Inn, Park Regis to Singapore
Australian company StayWell Hospitality Group is planning to bring its Leisure Inn and Park Regis brands to Singapore and other parts of Asia.The company is set to launch the first Park Regis hotel in Singapore in September, and also plans to construct the first Leisure Inn hotel in the...
Continue Reading • 29 Jun 2010
Industrial rents rise for the first time since Q3 2008
Singapore’s rental rates for warehouses and factories have turned around during the second quarter, rising for the first time since the third quarter of 2008, according to property firm DTZ.DTZ said the average gross rent for first-storey private conventional industrial space reached $2 psf...
Continue Reading • 29 Jun 2010
Savills launches six HDB shops up for sale
Property consultancy firm Savills has launched six HDB commercial shops up for sale through expressions of interest.The shops are located in the mature estates of Ang Mo Kio, Bukit Batok, Bedok, Tampines and Yishun. They have been operated and rented as substantial eating establishments, with...
Continue Reading • 29 Jun 2010
URA awards Jurong white site to Lend Lease
The URA has awarded the tender for a white site located at Jurong Gateway Road to Lend Lease Commercial Investments and Lend Lease Retail Investments 3. Lend Lease submitted a top bid of S$748.9 million during a public tender that closed on June 24. This translates to around S$650 psf ppr...
Continue Reading • 29 Jun 2010
Hotel site in Clemenceau Ave up for sale
The URA has put a hotel site located at the junction of Clemenceau Avenue and Havelock Road up for sale through a public tender.The sale of the 99-year leasehold site, which is next to Central Mall, was triggered when a developer committed to bid at least $40.8 million or about $328 psf ppr.The...
Continue Reading • 29 Jun 2010
Low mortgage rates fail to entice UK borrowers
The decline in the UK mortgage rate to a seven-year low has failed to revive lending because it is too high to encourage borrowers to refinance when fixed-rate terms lapse, according to Moneyfacts.com.Banks approved 49,871 mortgages in April, a figure that is 46 percent lower than the monthly...
Continue Reading • 28 Jun 2010
Frasers Centrepoint buys land site in Sydney
Frasers Centrepoint, a wholly-owned subsidiary of Fraser and Neave, has purchased a 13.7-hectare land site in Sydney from the Royal Rehabilitation Centre Sydney for S$97.8 million.Aside from constructing a 2.3-hectare open space intended for community use, the land site will be developed into...
Continue Reading • 28 Jun 2010
CentraLand acquires 80 percent stake in Zhengzhou Longma
Mainboard-listed CentraLand has announced that its unit – Henan Hezhi Company – has secured an agreement to acquire an 80 percent stake in Zhengzhou Longma.Zhengzhou Longma owns two sites out of the four land parcels that comprise Tianrong Fashion City. The two land sites have a total...
Continue Reading • 28 Jun 2010
CMA gains approval for listing in Malaysia
CapitaMalls Asia (CMA) said it has received approval to list its Malaysia property assets on the Malaysian exchange – Bursa Malaysia.CapitaMalls Malaysia Trust (CMMT) will be the holding entity of CMA’s Malaysia-based shopping malls, with almost 1.35 billion CMMT units expected to be...
Continue Reading • 28 Jun 2010
OUE obtains S$425m loan from OCBC
Overseas Union Enterprise (OUE) has secured a S$425-million term loan facility from OCBC Bank.The mainboard-listed property and hospitality company will use the loan to fund the development and construction of a property located at Leonie Hill Road through its subsidiary Cove Development.OCBC has...
Continue Reading • 28 Jun 2010
F1 season to boost hotel prices
The economic rebound as well as travel demand have boosted hotel room rates, as hoteliers shift gears in the hope of a better take-up during this year’s Formula One (F1) Grand Prix season.At Marina Bay Sands (MBS), which has added 2,560 rooms to the Marina Bay site this year, room prices...
Continue Reading • 28 Jun 2010
Glitzy features to entice home buyers
Developers of the recently launched 361-unit Waterfront Gold in Bedok Reservoir hope that the condo’s skypark feature will become a hit with demanding buyers.Frasers Centrepoint, which is developing the site jointly with FEO, said it is the first skypark in a private residential project.The...
Continue Reading • 28 Jun 2010
68 units sold at Waterfront Gold
Far East Organization and Frasers Centrepoint have sold 68 units out of the 150 units released at the Waterfront Gold condo project fronting Bedok Reservoir.Units at the 99-year leasehold, 361-unit condo project were being offered at around $950 psf. More than 70 percent of the total units sold...
Continue Reading • 28 Jun 2010
No property bubble yet, says MM
There is no bubble yet in the Singapore property market, said Minister Mentor Lee Kuan Yew.The sharp price increases that have been experienced were "part of the total liquidity in the whole world system", said Mr. Lee, adding that foreigners still see properties as affordable and...
Continue Reading • 28 Jun 2010
Private home prices unlikely to decline in H2
The private residential market in Singapore is unlikely to cool in the second half of 2010. Although home prices and property sales in some segments may ease in coming months, many industry experts expressed that the market is unlikely to see a sudden correction.Several observers said that...
Continue Reading • 28 Jun 2010
Australian borrowers face harder mortgage test
Mortgage lenders in Australia are making it harder for borrowers to apply for home loans by lifting rate size of rate rises the customers must face.Research conducted by Australia's largest independent broker Mortgage Choice showed that lenders implemented rate-rise stress tests ranging from 0.75...
Continue Reading • 25 Jun 2010
China's green buildings see great achievements
China had completed around 4.08 billion sq m of energy-efficient buildings by the end of last year, according to information from a construction industry forum held in Fuzhou City, China.According to the Building Energy Conservation and Science and Technology Department under China’s...
Continue Reading • 25 Jun 2010
CCT still undecided on StarHub Centre property
CapitaCommercial Trust (CCT) has announced that it has yet to decide on its StarHub Centre property.It said that it is still evaluating all possible options for its asset plan for the StarHub Centre and has yet to arrive at any decision.As part of its evaluation process, the property firm said...
Continue Reading • 25 Jun 2010
Waterfront Gold up for preview
Property developer Frasers Centrepoint’s latest development Waterfront Gold at Bedok Reservoir Road will be up for preview this weekend.The 99-year leasehold project comprises 361 condo units in five blocks with 15 storeys each and located on a 14,496.40 sq m site area at a plot ratio of...
Continue Reading • 25 Jun 2010
Lend Lease puts top bid for Jurong white site
Australian property developer, Lend Lease, has put in the top bid of S$748.89 million for a white site at Jurong Gateway Road.The S$748.89-million bid of Lend Lease, which translates to around S$650 psf ppr, is more than twice the $350-million triggered price for the site.Energy Trustee offered...
Continue Reading • 25 Jun 2010