Resale of waterfront and city homes in demand
More Singaporeans are now buying resale waterfront and city homes in the country.According to CB Richard Ellis (CBRE), the secondary sales of homes in the major inner city districts like Marina Bay and Sentosa reached S$750.8 million last year. This is higher than the average secondary sales...
Continue Reading • 1 Jun 2010
Mortgage loans in China decline 40 percent
Mortgage loans in China extended to real estate investors for second homes have declined 40 percent in the past few weeks, while loans for home purchases and construction had reached a new high last month, according to the data released by the central bank.The bank said that the total amount of...
Continue Reading • 31 May 2010
Famous Watergate Hotel in Washington DC sold for US$45m
Having been vacant since 2007, the renowned Watergate Hotel in Washington DC was sold this week to a group of European investors by the bank that foreclosed on the hotel last summer.Marc Magazine, who led the auction of the hotel for broker CB Richard Ellis, said the 251-room hotel on prestigious...
Continue Reading • 31 May 2010
AIG not hurrying for a deal
Prudential’s deal to acquire AIG's Asian life insurance arm remains uncertain as the US Treasury said it has not yet considered another deal than the existing contract. American International Group, Inc. was bailed out with a US$182.3-billion (S$256.1 billion) aid package and has been...
Continue Reading • 31 May 2010
Global luxury market bounces back
The luxury goods market is recovering from a fall caused by the global recession. However, due to changing demographics and enduring consumer vigilance, upscale sellers will be facing a hard slog.According to the consulting firm Brain & Company, after an agonizing eight-percent decline last...
Continue Reading • 31 May 2010
Singapore stocks open 0.5 percent higher
Singapore shares opened higher, with the Straits Times Index up 0.53 percent or 14.45 points at 2,754.15.Turnover was at 106.3 million shares valued at $268 million or US$190 million. Gainers led losers by 79 to 42.Shares of Parkway Holdings increased 70 cents at $3.72 after a report that...
Continue Reading • 31 May 2010
Positive signs for markets in Asia
As the eurozone crisis continues to pull down regional markets, several market analysts are cautious on the prospects of equities in the short term.However, many analysts believe that a sustained bear market is not happening soon, as the global economic recovery that is still on its way may push...
Continue Reading • 31 May 2010
GSS features more malls and late night deals
The Great Singapore Sale (GSS) is back with more malls opening along Orchard Road. Retailers say business is as good, if not better than previous ones.Instead of bringing in competition, the additional malls are attracting more shoppers with their improved variety.One way to attract more shoppers...
Continue Reading • 31 May 2010
180 units sold at The Minton project
Property developer Kheng Leong has sold 180 units in The Minton condo project in Hougang over the weekend.The units sold were part of the 300 units released in the 1,145-unit project at Lorong Ah Soo/Hougang Street 11. It has an average selling price of about $850 psf.Property agents marketing...
Continue Reading • 31 May 2010
Scotts Road bungalows to get a facelift
The notable stretch of bungalows from 29 to 35 Scotts Road will receive a facelift, adding more buzz as it has been set aside by the Singapore Land Authority for redevelopment into a lifestyle hub.Operators of fitness and health outlets, bridal and wedding shops, beauty services and restaurants...
Continue Reading • 31 May 2010
Singaporeans opt for pricey homes, says report
Foreigners no longer accounted for most buyers who purchased homes at more than $5 million, according to a recent study conducted by Savills Research and Consultancy, revealing that Singaporeans are now buying up pricey homes.The report showed a stunning turnaround in a trend which has prevailed...
Continue Reading • 31 May 2010
UK mortgage approvals jump in April
The number of UK home loan approvals for home purchases increased 15.5 percent on-year in April to the highest level for 2010, according to industry data. The data from the British Bankers' Association showed that the number of approved home loans for house...
Continue Reading • 27 May 2010
Asian stocks show signs of recovery
Asian stocks are showing signs of recovery, as investors purchasing weak shares at the final moment have improved confidence in Wall Street, resulting in a turnaround from initially incurred losses.There was a 0.9-percent increase in Japan's Nikkei Stock...
Continue Reading • 27 May 2010
OCBC to open new branches in China this year
OCBC Bank is gearing up for an aggressive expansion plan in China. It aims to increase its current 11 branches in the country by over half before the end of 2010, it said."We should be able to get an approval for a new branch. I hope some time next month. We're...
Continue Reading • 27 May 2010
K-Reit in talks for space in Sydney office tower
K-REIT Asia, a Singapore-listed real estate investment trust is preparing to boost its Australian coverage, and is now in negotiations to acquire a bulk space in a first-class office tower located in Sydney’s central business district area, a published report...
Continue Reading • 27 May 2010
Citibank Singapore's profits increase
Citibank Singapore has reported strong profit for the financial year of 2009.A 2.1-percent increase in net profit to a record $718.6 million from 2009 was posted by the local consumer banking arm. This came despite a six-percent drop in its interest income to $758.6...
Continue Reading • 27 May 2010
Boustead's full-year earnings tumble 28% to S$43.1m
Mainboard-listed Boustead Singapore has posted a net profit of S$43.1 million for the full year, down 28 percent from a year ago.It also reported a 15-percent on-year drop in revenue to S$516.6 million.According to Boustead, the decline in profit was largely...
Continue Reading • 27 May 2010
GIC's property arm to list logistics business in IPO
The Government of Singapore Investment Corp’s real estate arm may list its logistics business in an initial public offering (IPO), according to reports.The possible listing in Singapore will involve Japanese assets of GIC Real Estate, including ProLogis...
Continue Reading • 27 May 2010
Construction firms get $250m boost
Starting in June, several construction companies will be able to use the various schemes that the government introduced to improve productivity in the sector.The schemes are part of a $250-million Construction Productivity and Capability Fund that the National...
Continue Reading • 27 May 2010
Leg up for property companies with land in Johor
Several property firms owning large land parcels in Johor can expect greater investor interest as Malaysia and Singapore resolved their previous issues.The special economic zone of Iskandar Malaysia and Johor's property sectors are likely to be the biggest...
Continue Reading • 27 May 2010