Heeton Holdings eyes avant-garde designs
Heeton Holdings is eyeing avant-garde designs for its projects in an effort to rebrand itself and expand its portfolio.Danny Low, executive director and chief operating officer of Heeton, said the firm is considering new ideas for its future developments in the Orchard Road area.The boutique...
Continue Reading • 21 Jun 2010
Falling number of home sales not a concern
Several analysts said that private home prices are holding up and demand for HDB flats is strong.However, if the Singapore property market appears to be affected by the World Cup fever, it is only because it goes hand in hand with the usual slow June school holidays, as well as a lacklustre stock...
Continue Reading • 21 Jun 2010
Only two bids for Yishun Ave 2 site
HDB has received only two bids for a residential site located at Yishun Ave 2 and Yishun Ave 7.The highest bid of S$229.4 million came from a joint bid offered by two property firms – FCL Topaz and Nam Hee Contractor. This translates to about S$311 psf ppr.A second bid of about S$196...
Continue Reading • 21 Jun 2010
RAMS prompts mortgage price war in Australia
RAMS Home Loans has ignited a mortgage price war, undercutting major banks in Australia on fixed-rate mortgages.The lender slashed its two- and three-year fixed-rate mortgage by 0.31 percent.Starting June 16, two-year fixed-rate mortgages were 6.98 percent, making it the lowest rate in the fixed...
Continue Reading • 18 Jun 2010
US housing drops
US housing starts reached a five-month low last month, as homebuyer tax credits expired while wholesale prices stayed subdued. This gave the Federal Reserve plenty of room to keep its ultra-low interest rate policy.The weak housing market figures from the Commerce Department differed with a...
Continue Reading • 18 Jun 2010
Some Orchard Rd businesses may halt operations for 4-6 weeks
Some businesses in Orchard Rood wrecked by the recent flash floods may take at least four to six weeks to get their operations back up.The flooding is gone but establishments especially those located at Liat Towers are still picking up the pieces.At the American food chain Wendy’s, the...
Continue Reading • 18 Jun 2010
DBS to focus priority on existing operations
DBS will focus its priorities on existing businesses first, before attempting new takeovers or ventures, said Mr. Peter Seah, chairman of DBS Group.Following the rapid growth through acquisitions since the 1997-1998 Asian economic crisis, DBS is now focusing to improve the performance of its...
Continue Reading • 18 Jun 2010
Hong Leong targets budget hotel projects
Singapore conglomerate Hong Leong Group has announced that the next part of its regional growth plans will be centred on budget hotel projects, as the company is now looking to avoid high costs of entry in saturated markets such as Shanghai.But Hong Leong explained that while it welcomes the...
Continue Reading • 18 Jun 2010
Facts about showflats
Visiting showflats is a common pastime in Singapore, but this leisure activity should be done carefully, especially before before considering any purchases.Potential homebuyers should inspect every corner of the showflat and understand that they may not get everything they see. After all,...
Continue Reading • 18 Jun 2010
HSBC expects booming REIT market in Asia
HSBC expects the number of Asia’s real estate investment trusts (REITs) to increase over the next three to four years due to demand for more risk-averse real estate investments, according to a senior executive.Asia is seeing a boom in the REIT IPO market in 2010, with the recent listing of...
Continue Reading • 18 Jun 2010
Asian nations implement curbs to control property bubbles
Policy makers in Asian nations are struggling to control property bubbles that are threatening to derail the fastest growing region in the world.In China, home prices are increasing at a record rate even after authorities demanded higher deposits, limited second-home purchases and set price...
Continue Reading • 18 Jun 2010
FEO plans new condo, mall in Seletar Hills
Far East Organization is developing what it hopes to be a chic, two-storey mall at a site in Seletar that it acquired in a state tender in 2009.Behind the mall will be a low-rise condo – The Greenwich – which comprises two- to three-room apartments ranging from 602 sq ft to 1,227 sq...
Continue Reading • 18 Jun 2010
First-time buyers in the UK still struggling
Mortgage lending to first-time homebuyers in the UK declined to a two-and-a-half year low in April, with only 35 percent of 40,000 mortgage applications having been approved due to higher down payment requirements.According to the Council of Mortgage Lenders, the number of home loan applications...
Continue Reading • 17 Jun 2010
Investment expert warns Australia facing housing bubble
Australia faces a “time bomb” housing bubble which could be triggered by rising interest rates, warned Jeremy Grantham, a US investment guru known for correctly predicting the economic recession a year before it happened.Grantham noted that home prices in Australia, which have been on...
Continue Reading • 17 Jun 2010
Henderson's sale of 20 luxury homes collapses
Henderson Land Development Co said the sale of its 20 luxury apartments had collapsed, putting an end to a HK$2.67-billion (S$478.2 million) deal that fuelled efforts to control home prices and sparked a government inquiry.In a filing with the stock exchange, Henderson said most buyers had...
Continue Reading • 17 Jun 2010
Yanlord, Ho Bee purchase six residential sites
Ho Bee Investment and Yanlord Land Group have acquired six residential development sites for 504.6 million yuan (S$102.9 million) in China’s Tangshan Nanhu Eco-City.The acquisition works out to an average price of 1,302 yuan or S$265.6 psm through Yanlord Ho Bee Investments – their...
Continue Reading • 17 Jun 2010
Flood causes heavy losses to retailers
A variety of goods were destroyed by the flood that hit Orchard Road yesterday.Aside from the cost of equipment and furnishings, retailers said they were expecting millions of dollars in losses.Among the stores that were badly affected included apparel house Massimo Dutti, luxury goods retailer...
Continue Reading • 17 Jun 2010
Shops in underpass linking ION/Tangs Plaza not a threat
Having additional retail outlets in the underpass linking ION Orchard and Tangs Plaza will not pose a threat to the businesses above ground in the malls.Several analysts explained that retail outlets along the underpass might cater to basic needs such as an automated teller machine lobby....
Continue Reading • 17 Jun 2010
Sembawang Engineers wins S$419m RWS contract
Sembawang Engineers and Constructors has won a contract from integrated resort group Resorts World at Sentosa worth S$419 million.It is the second contract awarded by Resorts World to the company, after successfully completing a S$250-million sub-structural works project in 2008.The contract...
Continue Reading • 17 Jun 2010
Chip Eng Seng establishing SPV for Punggol EC project
Construction Company Chip Eng Seng has announced that its wholly-owned subsidiary, CEL Development, will establish a special purpose vehicle (SPV) to develop an executive condominium (EC) in Punggol.CEL and its partner, Choicehomes Investments, will facilitate the development of the executive...
Continue Reading • 17 Jun 2010