Two sites launched for collective sale
Two residential sites, one in Orchard Road and the other near the Kovan MRT Station were released separately for en bloc sale.Property consultancy firm Credo Real Estate recently announced the sale of Goodrich Park located in Simon Lane with a price tag of between $80 million and $85...
Continue Reading • 9 Jun 2010
Orchard Road ranked 27th most expensive retail street in the world
The Orchard Road shopping belt in Singapore has been ranked 27th the most expensive retail street in the world in a survey conducted by property consultancy firm Colliers International.The country climbed up one notch from last year’s 28th spot in Colliers annual global ranking of rents for...
Continue Reading • 9 Jun 2010
JPMorgan to sell mortgage bonds worth $716.3m
JPMorgan Chase & Co. is marketing commercial mortgage bonds worth $716.3 million.The bond, which will be the second highest commercial-mortgage backed bonds to be sold in 2010, comprises 36 loans on 96 properties, according to a source familiar with the transaction, but who declined to be...
Continue Reading • 8 Jun 2010
HK analysts to reduce land auction bid forecast
Hong Kong property developers might pay HK$8.41 billion (S$1.5 billion) for a residential site at a government auction, as some property analysts reduce their estimates following a decrease in apartment prices in the past two weeks, as well as the missed forecasts on two previous land...
Continue Reading • 8 Jun 2010
CapitaLand to proceed with $3.5b expansion in Vietnam
South-east Asia's largest property developer, CapitaLand, is undergoing a major expansion in Vietnam, doubling its property investment in the country to nearly $3.5 billion (US$2.5 billion) for the next three to five years.The property giant announced that it wanted to develop affordable...
Continue Reading • 8 Jun 2010
Singapore and Hong Kong have straightforward tax policies
Singapore and Hong Kong have the most straightforward tax policies compared to other areas in the region, according to the first Asia-Pacific Tax Complexity Forecast from accounting firm Deloitte.The firm conducted a survey of over 1,000 respondents and found out that several companies selected...
Continue Reading • 8 Jun 2010
Golden Concord Asia to sell 52 million shares
Mainboard-listed hospitality and property group, OUE, has said that Golden Concord Asia – OUE’s controlling shareholder – will sell almost 52 million shares.The shares represent 26.5 percent of the total issued share capital of OUE and will go at an indicative price ranging from...
Continue Reading • 8 Jun 2010
JTC seeks to intensify use of industrial land
Singapore could in the near future have innovative structures such as a recycling industrial park and a huge hoisting system, as JTC takes a multi-pronged approach to exploring cutting edge concepts and unconventional approaches to intensify use of industrial land.In the process, the agency can...
Continue Reading • 8 Jun 2010
OCBC appoints UE to develop Somerset site
OCBC Bank has selected United Engineers (UE) for the development of a shopping mall and a hotel at the former Hotel Phoenix and Specialists’ Shopping Centre site at Somerset.About $550 million is expected to be spent for the development of the project, which is likely to be completed by the...
Continue Reading • 8 Jun 2010
Pebble Bay project sees strong interest
The 510-unit waterfront condo project – Pebble Bay – located in Tanjong Rhu area has seen strong interest from homebuyers since early this year. Prices have jumped to as much as $1,389 psf in January when a 2,099-sq-ft three-room unit on the sixth floor was sold for about $2.9...
Continue Reading • 8 Jun 2010
More condos in the CBD area
The Central Business District (CBD) of Singapore will be livelier during the nights and on weekends, as the staid office area is set to become a certified residential district.About four condominium projects are expected to be completed in the Shenton Way area in 2010 and 2011, adding more than...
Continue Reading • 8 Jun 2010
Buyers snap up units at The Minton
Dozens of interested homebuyers are looking to acquire new homes, despite an unstable stock market affecting property market sentiment.Over the weekend, another 120 units at The Minton project in Lorong Ah Soo had been sold, following the 180 units fetched last week, taking the total sales to 300...
Continue Reading • 8 Jun 2010
China to standardize second home purchases
The central government of China has announced that the definition of second-home purchases will be based on the number of homes owned by a family, rather than by each person.The new policy will put an end to various definitions of second homes that many banks have been using when giving loans....
Continue Reading • 7 Jun 2010
China's mass-market housing still affordable
China’s mass market housing remains affordable and is not likely to suffer from a bubble pressures in the top-tier cities and high-end segments.Liew Mun Leong, CEO of Capitaland, said that opportunities in the retail property market continue to expand across mainland China.The property...
Continue Reading • 7 Jun 2010
Prudential denies new AIG deal
British insurer Prudential is not considering a renewed effort to acquire the Asian life unit of AIG, a company spokesperson said, denying a newspaper report that a new takeover bid was being planned.According to the report, the group was considering to revive its bid and that Tidjane Thiam,...
Continue Reading • 7 Jun 2010
Singapore's STI plunges 2.8 percent
Banking stocks in Singapore started the week low due to weak US job data and a threat of debt crisis in Hungary.Singapore’s STI shed 2.83 percent or 79.45 points at 2,727.06 in the opening of Monday trading. Losers beat gainers by 221 to 11.Top losers included UOB, OCBC, DBS, STX Pan Ocean...
Continue Reading • 7 Jun 2010
Better watch out
About 71 windows fell from high-rise apartments and flats in 2009 compared with 44 in 2008, according to the Building and Construction Authority (BCA).The increase was largely attributed to the increasing number of sliding windows that fell. Last year, 29 sliding windows fell from high-rise...
Continue Reading • 7 Jun 2010
Treetops receives Green Mark Gold Award
Treetops Executive Residences has won the Green Mark Gold Award, an accolade given by the Building and Construction Authority (BCA), for its initiative to go green.Treetops, run by DTZ Debenham Tie Leung Hospitality Management Services, is the first building under the service apartment sector...
Continue Reading • 7 Jun 2010
Green Mark earns recognition abroad
Aside from visiting sites in Singapore, officials tasked to assess the eco-friendliness of buildings now have to go abroad to calculate energy savings and examine architectural features. As the Green Mark certification of Singapore earns recognition in other countries, more developers are...
Continue Reading • 7 Jun 2010
CapitaLand CEO acquires Interlace penthouse
Capitaland President and CEO Liew Mun Leong, along with his son and daughter-in-law, have acquired two units at The Interlace project located in Depot Road / Alexandra Road for $6.2 million.Mr. Liew paid nearly $3.74 million or $1,092 psf for a 3,423-sq-ft penthouse on the 23rd floor.His son and...
Continue Reading • 7 Jun 2010