Seven restaurants at MBS
Food lovers can now look forward to delectable delights from world-class chefs, as Marina Bay Sands sets the stage for world-class dining.The integrated resort will have seven restaurants under one roof. Two are already open but more will follow including one restaurant by Australian chef...
Continue Reading • 25 Jun 2010
More property launches soon
With many families returning from holidays as the school vacation comes to an end, many property developers are starting to crank up their launch machinery again. Far East Organization and Frasers Centrepoint started to preview the 99-year leasehold Waterfront Gold condo located along Bedok...
Continue Reading • 25 Jun 2010
18 F&B spaces at Gardens by the Bay opened for tender
Gardens by the Bay is set to open next November, giving customers a chance to experience fancy dining “in a tree” or among endangered flowers and plants.According to the National Parks Board, the attraction, spanning 9,400 sq m or about two football fields, will have 18 food and...
Continue Reading • 25 Jun 2010
Resale home prices increase in Q2
Prime freehold condominium units in districts 9, 10 and 11 are fetching record prices in the resale market, more than what they did during the last peak in Q4 2007, according to a new report.Property company DTZ said that the average resale price of freehold non-landed homes in the three...
Continue Reading • 25 Jun 2010
Q2 prime office rents pick up
Prime office rents in Singapore have finally picked up in the second quarter following a six-quarter decline, according to CB Richard Ellis (CBRE).With solid leasing activity, the large supply of commercial space coming on-stream seems “increasingly manageable”, added CBRE. The...
Continue Reading • 25 Jun 2010
More borrowers exit US mortgage programme
The US government’s effort to help people who are in danger of losing their homes is falling, with more than one-third of the 1.24 million borrowers enrolling in the US$75-billion mortgage modification programme offered by the government have dropped out.This surpasses the number of people...
Continue Reading • 24 Jun 2010
Henderson questioned seventh time over home sales
Henderson Land Development, a Hong Kong developer managed by Mr. Lee Shau Kee, has been questioned by the government for a seventh time over luxury apartment transactions that prompted efforts to cool down home prices and a crackdown on marketing strategies.Henderson was asked by the Lands...
Continue Reading • 24 Jun 2010
China's new home prices still rising
Prices of new commercial homes in 36 major cities in China continued to increase month-on-month in May in spite of government’s effort to cool the real estate market, according to the National Development and Reform Commission (NDRC).Average new commercial home prices in 36 major Chinese...
Continue Reading • 24 Jun 2010
Consumer prices reach 14-month high in May
Consumer prices hit a 14-month high in May, climbing 3.2 percent on-year, according to the latest data released by the Department of Statistics (DOS).The increase was mainly due to higher housing, food and transport costs. Housing costs increased 1.6 percent as a result of higher gas and...
Continue Reading • 24 Jun 2010
DIC pension to reinvest in real estate
The pension fund of DIC Corp, which manages ¥87 billion (S$1.3 billion) of assets, intends to make investment in real estate in Japan and abroad for the first time since 2006.The retirement savings manager for approximately 6,200 employees is looking into property investing after it stopped...
Continue Reading • 24 Jun 2010
MBS to beat US$330m earnings forecast
Marina Bay Sands said it is heading in the right direction to beat analysts’ forecast to reach US$330 million in cash flow this year.Projections for revenues and number of visitors at the integrated resort have also been met, said Sheldon Adelson, CEO and chairman of Las Vegas Sands –...
Continue Reading • 24 Jun 2010
Nam Hee, FCL Topaz win Yishun site tender
Nam Hee Contractor and FCL Topaz have been awarded a residential housing site located at Yishun Avenue 2 and Yishun Avenue 7.The S$229.4-million joint bid of the companies, which translates to around $311 psf ppr, beats the other contender GuocoLand's Perfect Eagle offering a bid of $196 million...
Continue Reading • 24 Jun 2010
Fragrance Group launches Suites & Icon @ Changi
Property developer Fragrance Group has launched an integrated commercial and residential project along Changi Road.The project, Suites & Icon @ Changi, is a five-storey freehold integrated building.The Icon @ Changi is a commercial office tower including 44 retail and office facilities on the...
Continue Reading • 24 Jun 2010
Expert warns rise of prime property prices
Luxury property prices in Singapore are set to increase five to eight percent in the coming months, given the country’s solid economic fundamentals, low interest rates and strong cash holdings of Singaporeans, according to a strategist from Swiss bank UBS.While prices of mid- range and...
Continue Reading • 24 Jun 2010
Singapore real estate transparency ranking drops
Singapore has dropped two places to 16th place in a transparency ranking of major property markets worldwide.The position of the city-state in the latest Global Real Estate Transparency Index compiled by Jones Lang LaSalle (JLL) has dropped because scores of other countries improved, while...
Continue Reading • 24 Jun 2010
HDB loans used for downsizing into smaller flats
Over 1,200 HDB flat owners have used the recent rule to acquire a second concessionary loan from HDB, hoping to move into smaller or similar-size flats.However, many private financial institutions said that this has caused little impact on their HDB loan business, even though more households have...
Continue Reading • 23 Jun 2010
Rising yuan to benefit major sectors
Certain major sectors and regional markets are likely to reap gains from an expected boost in the yuan, after Beijing suggested that it would allow more flexibility for the valuation of the Chinese currency.Analysts pointed to a clear precedent between 2005 and 2008 when the currency rose 19...
Continue Reading • 23 Jun 2010
Property companies should watch their cashflow
Companies in the real estate industry should continue watching their cashflow, which includes looking for new recurring income and keeping options open for alternative funding, according to industry players.At the Real Estate Investment World Asia 2010 industry conference, industry players said...
Continue Reading • 23 Jun 2010
Tampines site up for sale under DBSS
HDB has put a residential site in Tampines up for sale through a public tender under the Design, Build and Sell Scheme (DBSS).The site, located at Tampines Avenue 5 and Central 8, is adjacent to The Premiere@Tampines – the first DBSS project.The site has an area of around 21,000 sq m with a...
Continue Reading • 23 Jun 2010
Asian banks are stable, says Moody's
Banks in South Korea, New Zealand and Australia are among those that are most susceptible to the European debt crisis, because lenders in these countries get much of their funds for their loan book from global capital markets, said rating agency Moody’s."If we don't see the banks...
Continue Reading • 23 Jun 2010