Developers to launch more projects in subdued market
Developers are continuously releasing new projects despite a more subdued outlook in the real estate market.Property developer Kheng Leong group is launching a preview for The Minton at Lorong Ah Soo/Hougang St 11 at an average price of $850 psf. It is expected to release an initial batch of 300...
Continue Reading • 27 May 2010
Australia to cut mortgage securities costs
The Australian government is trying to cool down the prices of mortgage-backed securities, in an effort to reduce funding costs for smaller banks and lenders, which will lead to increased securitization market competition.While signs of recovery have returned to the securitization market since it...
Continue Reading • 26 May 2010
Malaysia's Sunway to place 1/5 of Reit IPO to investors
Malaysia’s Sunway City may place around 1/5 of its initial public offering of a real estate investment trust (Reit) to cornerstone investors, according to some sources.The sources said Malaysia’s sixth-biggest property company by market value in Malaysia...
Continue Reading • 26 May 2010
Property expert joins JLL
Jones Lang LaSalle (JLL) announced that starting in August this year, Alistair Meadows will be the new appointed head of its International Capital Group, Asia-Pacific (ICG).Mr. Meadows, a capital market specialist has 15 years of experience in international real...
Continue Reading • 26 May 2010
KSH Holdings' net profit up 28% on-year
Construction and property developer KSH Holdings has posted a net profit increase of 28 percent to S$18 million on-year.The company said that better performance was mainly attributed to an improved profit margin, as well as lower construction costs. However,...
Continue Reading • 26 May 2010
Food Empire's subsidiary acquires property for $13.9m
Food Empire Holdings Limited announced that its subsidiary, Empire Instant Food Pte Ltd, is set to acquire a freehold property worth $13.9 million or US$9.9 million.The property, which is located at 31 Harrison Road in Harrison Business Suite, has a maximum land area...
Continue Reading • 26 May 2010
9 properties of three family firms up for sale
Nine properties owned by three family firms (Lee Tung Co (Pte) Ltd, Chow Cho Poon (Pte) Ltd and Associated Development Pte Ltd) are being liquidated and put up for sale through public tender.The three firms were founded by real estate investor Chow Cho Poon, who...
Continue Reading • 26 May 2010
Owners to collect gains for homes near KTM
Property owners near Upper Bukit Timah and Bukit Timah will be celebrating, and maybe collecting capital gains, when the Malayan Railway (KTM) station moves to Woodlands from Tanjong Pagar next year.The railway runs through a housing area, where residents have long...
Continue Reading • 26 May 2010
Ophir-Rochor land site could be worth hundreds of millions of dollars
An Ophir-Rochor land parcel, which a Malaysia-Singapore joint venture company, M-S, might put up for redevelopment, could be worth hundreds of millions of dollars. According to several analysts, if M-S opens up the parcel to property developers, it could trigger...
Continue Reading • 26 May 2010
Seven bids for Sengkang plot
An executive condominium (EC) spot at Sengkang has attracted seven property developers with a top bid of $176 million, which is above market expectations. However, the aggressive bidding by property developers seems to have abated, according to analysts.The seven...
Continue Reading • 26 May 2010
Singapore ranks as world's 17th most expensive location for retail rents
Singapore has climbed up one spot in the latest survey conducted by CB Richard Ellis for the world's most expensive retail locations.CBRE’s Global MarketView report on the retail sector showed that prime retail rents in the country ranked 17th worldwide as the most expensive location during...
Continue Reading • 26 May 2010
UK mortgage funding
The Council of Mortgage Lending (CML) has said that the new coalition government in the United Kingdom should look into the mortgage funding issue.Michael Coogan, director general of CML, made his comments after the publication of its gross mortgage lending data for the month of April, which...
Continue Reading • 25 May 2010
Site in Hong Kong goes for HK$1.33B
A building site in Hong Kong was sold for about HK$1.33 billion or S$240 million yesterday, during the second government auction for this year.The 8,900-sq-m building site in the Fanling area of the New Territories in northern HK was put into the government auction. According to the estimates of...
Continue Reading • 25 May 2010
Metro's net profit up 47% in Q4
Mainboard-listed retailer Metro Holdings has announced that its net profit for the fourth quarter surged 46.5 percent to S$56 million, attributed to the increase in revenue by 15 percent to S$39.9 million.The company said the higher profit results for Q4 were mainly due to S$22.3-million gain...
Continue Reading • 25 May 2010
Wellness township project to be released in 12 months
Singapore and Malaysia have planned to build a joint “wellness township”, which will set aside a huge 200-hectare site – the size of 374 football fields.The leaders of the two countries also discussed the first water agreement that will expire on 31 August 2011. Singapore's...
Continue Reading • 25 May 2010
Shophouses in Hamilton Road up for sale
Four adjoining two-and-a-half storey redeveloped shophouses located at 35 Hamilton Road are up for sale.The 8,775-sq-ft. freehold site has a combined gross floor area of 15,489 sq ft. Its last tenancy is expiring in March 2012, according to Colliers International, the property’s marketing...
Continue Reading • 25 May 2010
Bintan Villas a hit with expats
Over at Bintan’s first seaside residential estate, more than 10 units have been sold, mainly to expats living in Singapore, according to the company behind the project.The Pantai Indah estate is a gated community on a 13-hectare land at Bintan Resort's Lagoi Bay. The project, with162...
Continue Reading • 25 May 2010
Property stocks remain strong despite land site releases
Property stocks stayed firm and defied market expectations, after the government announced that it will release a record supply of land parcels for private homes during the second half of the year.The FTSE ST real estate holding and development index gained one percent to close at 639.59 points...
Continue Reading • 25 May 2010
Office market improves with rents going up
The commercial real estate sector’s sentiment is improving as renting activity shows signs of growing with the economic recovery.Prime office vacancy in Singapore has declined but only rents for new office buildings have increased, as property consultancy firms have detected increasing...
Continue Reading • 25 May 2010
Current KTMB station site provides opportunities for development
The current Malayan Railway station site located at Tanjong Pagar provides tremendous opportunities for commercial and residential development. However, these will likely take shape in 2015 or 2016, according to some property watchers.Malaysia and Singapore announced the relocation of Tanjong...
Continue Reading • 25 May 2010