Lum Chang to purchase Singapore properties worth S$15.50m
Lum Chang Holdings has announced that its wholly-owned subsidiary – Lum Chang Property Investments (LCPI) – is planning to purchase two properties in Singapore worth S$15.50 million.Lum Chang said LCPI has exercised the options to acquire properties in Nos 12 and 14 Kung Chong Road...
Continue Reading • 11 Jun 2010
Golden era for property developers
The years 2007, 2009 and 2010 can be considered a golden era for property developers.Laden with vast liquidity from large profits on sold-out projects, it is no surprise that developers look at development sites with great appetite.The aggressive bidding for the latest state sale of a residential...
Continue Reading • 11 Jun 2010
Australia's mortgage approvals down in April
Home loan approvals in Australia dropped in April for the seventh consecutive month, adding to evidence that the Group of 20's most aggressive series of interest rate increases has eased demand among first-time homebuyers.The number of approved loans to build or purchase homes and apartments fell...
Continue Reading • 10 Jun 2010
HK residential site receives top bid of HK$10.9b
The HK$10.9 billion (S$1.98 billion) sale of a residential site in a public auction conducted by the Hong Kong government has surpassed several estimates and indicated that home demand is withstanding efforts to cool down the property market.Potential home buyers should take into consideration...
Continue Reading • 10 Jun 2010
Yanlord, GIC unit to develop properties in China
China-based property developer Yanlord Land is tying up with the property unit of Government of Singapore Investment Corp (GIC) to set up a US$300-million joint venture company to develop a residential project in Chengdu, China.Yanlord has announced that it has set up a JV company – Yanlord...
Continue Reading • 10 Jun 2010
ING appoints Morgan Stanley for possible sale of management arm
ING has appointed Morgan Stanley for a possible sale of its property management arm, as the Dutch bank reinvents itself following a state bailout, according to sources.The hiring of the US investment bank comes after months of speculations on the future of the unit, which has assets amounting to...
Continue Reading • 10 Jun 2010
PLife REIT acquiring properties in Japan
Mainboard-listed Parkway Life REIT said it is acquiring six properties in Japan for S$60.5 million.The properties are care facilities and a nursing home, and will be financed by borrowings.Five of the properties are situated in the densely populated residential district in Fukuoka Prefecture in...
Continue Reading • 10 Jun 2010
Heeton unveils iLiv@Grange project
Heeton Holdings plans to begin construction of a new Grange Road condominium – iLiv@Grange – in September this year, said Danny Low, chief operating officer of the company.The firm also intends to relaunch The Lumos over the next two months. Since early 2008, sales of units in the...
Continue Reading • 10 Jun 2010
Stiff competition for proposed development in Orchard Rd
Industry players said that the proposed mixed-hotel-and-retail development on the site of the former Hotel Phoenix and Specialists' Shopping Centre may encounter stiff competition, since it will be a latecomer in the revamped Orchard Road shopping strip.Experts believe that once the Discovery...
Continue Reading • 10 Jun 2010
Singapore economy expected to grow 9 percent in 2010
Economists expect that Singapore will have a stronger nine percent growth in 2010, anticipating larger increases in wholesale and retail, exports and manufacturing compared to their previous forecast.The average gross domestic product (GDP) growth estimate from the most recent survey of the...
Continue Reading • 10 Jun 2010
Property market set to cool down
The Singapore property market is set for a correction in the following months, say industry players, adding that home prices could hit a plateau and transaction volumes could drop.According to Singapore Institute of Surveyors and Valuers (SISV), there were 899 caveats lodged for condos during the...
Continue Reading • 10 Jun 2010
Office capital values set to increase, says JLL
Prime office capital values in Singapore are set to rise over the next 12 months in anticipation of rental rate increases, fuelling interest among foreign investors in the office market, according to Jones Lang LaSalle (JLL).“The number of investors coming to town and looking at offices has...
Continue Reading • 10 Jun 2010
US interest rates record a rise
Interest rates in the United States are increasing in the bond market, as Ben Bernanke, chairman of the Federal Reserve, said he does not expect the US economy to fall back into another recession.Mr. Bernanke's statement had helped boost stocks, ending a two-day crash. The rebound of the stock...
Continue Reading • 9 Jun 2010
Vietnamese developers eager to partner with Singapore companies
Property developers based in Vietnam said they are eager to pursue retail and residential projects in their country with Singapore partners like CapitaLand.“I am happy to tie up with Singapore developers” with their transparency and good reputation, said Le Nu Thuy Duong, general...
Continue Reading • 9 Jun 2010
CapitaLand's first residential property in Vietnam receives strong response
CapitaLand, South-east Asia's largest property developer, said it received strong response for its residential property in Vietnam.During a topping out ceremony held in Ho Chi Minh City, the property giant announced it has sold three quarters of the units in an apartment project called The...
Continue Reading • 9 Jun 2010
Consultants to lower developer sales estimates
Property consultants are preparing to lower their forecast for full-year developer sales, while some are moderating their price expectations. However, most do not expect developers to cut prices soon, considering the promising economy of Singapore.Consultants are awaiting official data on the...
Continue Reading • 9 Jun 2010
CMT notes remain secured
The Commercial Mortgage-Backed Securities of CapitaMall Trust (CMT) are still secured by robust cashflows, according to the trust.CapitaMall Trust made the remarks in response to reports that Moody’s has downgraded its Series 30 and Series 25 Notes to Aa1 from Aaa.The rating downgrade of...
Continue Reading • 9 Jun 2010
SPH venturing into more property projects after Sky@eleven
Singapore Press Holdings (SPH) highlighted its ability as a property developer with the unveiling of Sky@eleven – its newly completed maiden residential project located in prime district 11 off Thomson Road.The freehold project, which was developed by Times Development, a wholly owned...
Continue Reading • 9 Jun 2010
MCC Land puts top bid for Sembawang site tender
Property developer MCC Land has offered the highest bid of S$131.70 million for a land parcel in Sembawang Road/Canberra Drive during a public tender by HDB.HDB received a total of seven bids for the 22,567.8-sq-m site, which was released for public tender in April and closed on Tuesday.The...
Continue Reading • 9 Jun 2010
Tiong Seng to develop eco-friendly condo
Mainboard-listed Tiong Seng Holdings announced that its subsidiary, Tiong Seng Contractors, has sealed a contract worth S$146 million to design and develop a 429-unit eco-friendly condominium – Tree House – located in Chestnut Avenue, off Upper Bukit Timah Road.Based on the contract,...
Continue Reading • 9 Jun 2010