Condo subsales at Sentosa Cove sees continuous gain
Gains from subsale deals in Sentosa Cove have been buoyed by the property price increases in the area since the start of the year. The average gain for each unit from subsales of condominiums in the upscale waterfront housing district from January to April 2010 has...
Continue Reading • 6 May 2010
Tianjin Eco-City signs 1b-yuan worth of industrial land deals
The Sino-Singapore Tianjin Eco-City Investment and Development firm has signed another three industrial land deals, involving over one billion yuan (S$203.9 million) in investments in the Eco Industrial Park and the Eco Business Park. Tianjin House Construction...
Continue Reading • 6 May 2010
Foreign property purchases of South Koreans falls sharply in Q1
South Koreans' purchases of foreign properties dropped during Q1 2010 from Q4 2009, as investor sentiment remained sluggish despite steady improvement of the global economy, according to data released by the Ministry of Strategy and Finance. The data showed that South...
Continue Reading • 6 May 2010
Two adjacent bungalows off Meyer Road sold for $38m
Two adjacent bungalows in Margate Road off Meyer Road were sold for $38 million. The buyer is said to be a low-profile boutique property investor that plans to build a block of apartment units on the 24,002-sq-ft combined freehold site. The plot can yield a 24-storey...
Continue Reading • 6 May 2010
$302m top bid for Lakeside residential site
A 99-year leasehold residential site at Boon Lay Way and Lakeside Drive has received an eye-popping bid of $302.98 million through a public tender. Keppel Land Mayfair, a unit of Mainboard-listed Keppel Land, has submitted the highest bid for the 1.6-hectare land...
Continue Reading • 5 May 2010
Property investor facing rental scam charges back in court
Ms. Calisa Cheong Mei Ing, a 40-year-old self-styled property investor, returned to court on Tuesday after her mitigation plea was rejected in 2009. Ms. Cheong, who has been in jail since July 2009, faces 74 counts of cheating tenants of rent money and getting credit as an undischarged bankrupt....
Continue Reading • 5 May 2010
Great Eastern reports Q1 results
Great Eastern has announced that its net profit for the first quarter dropped 24 percent to S$179.1 million, compared to the same quarter last year. The insurance firm’s Q1 results was attributed to a higher base in Q1 net profit last year coming from a...
Continue Reading • 5 May 2010
Aussie home price increases exceed forecasts
Home prices in Australia exceeded estimates during the three months through March, increasing the central bank’s likelihood to boost borrowing costs today. According to the Australian Bureau of Statistics, an index gauging the weighted average of prices for established houses in the eight...
Continue Reading • 5 May 2010
Top Malaysian banks to introduce more IPOs in Singapore
Several leading Malaysian investment banks are increasingly targeting a bigger slice of the initial public offering (IPO) launches in Singapore, bringing with them not just their expertise in the housing market but more diversity in their pool of listing candidates. AmFraser Securities is...
Continue Reading • 5 May 2010
The 60-minute promise of POSB
HDB home loans from POSB can now be secured within 60 minutes, in a move to improve convenience and efficiency for customers, said the bank. With POSB's 60-minute promise, borrowers who apply for HDB home loans can complete and return the necessary documents through fax or email from Monday to...
Continue Reading • 5 May 2010
STC all set for property expansion
The senior management of Straits Trading Company (STC) said that the mainboard-listed firm is now ready to expand its property and is watching for suitable acquisitions. Mr. Eric Teng, CEO of STC’s property arm, said that it is looking for opportunities to buy existing properties in the...
Continue Reading • 5 May 2010
Opening of new CCL stations retards business at CityLink Mall
Retailers usually benefit from the opening of new MRT stations and train services. However, stores at CityLink Mall are seeing the reverse, with business dropping 20 percent to 30 percent, on average, after the new Circle Line (CCL) stations in the area opened in April....
Continue Reading • 5 May 2010
Fortress Investment setting up office in Singapore
Fortress Investment, one of the largest publicly traded alternative asset managers in the world, plans to restore its operation in Asia and is working to set up an office in Singapore. Hedge funds have been creating a path for Asia, driven by the strong economic...
Continue Reading • 5 May 2010
Living high on lofts
In major cities like New York, loft apartments are expensive with no partitions, but in Singapore, it can be as small as 579 sq ft unit with double-volume space and a mezzanine level. “The apartment fits the requirement of young couples like us looking for city...
Continue Reading • 5 May 2010
Fannie Mae to increase mortgage requirements for applicants
Government-backed mortgage lender Fannie Mae has released its latest list of requirements for mortgage applicants, in a move to ensure that the US property market continues its upward swing. These new changes will affect home borrowers in the US who are applying for...
Continue Reading • 4 May 2010
China banks and property firms drop in HK trading
Shares of Hong Kong-listed Chinese banks and property companies dropped after Beijing announced new measures to curb lending and avoid a possible property bubble formation in mainland China. The People's Bank of China (PBoC) has announced that the minimum amount of...
Continue Reading • 4 May 2010
Private-equity funds unable to invest US$80 billion
Private-equity funds that purchase real estate were unable to invest as much as US$80 billion due to difficulty in finding deals, and some of that may be lost if it is not spent this year, according to a report by London-based research firm Preqin Ltd. The figure...
Continue Reading • 4 May 2010
Asian recovery gains likely to increase capital inflow risks
Strong economic growth in the Asian region and rising interest rates are luring more capital inflows. However, many observers stressed that unlike the months before the financial crisis hit Asia in 1997, there are some concerns about money flowing in. But for now,...
Continue Reading • 4 May 2010
Singapore casts wider net for investors looking to tap into Asian growth story
Investment interest in Singapore from non-traditional locations including Russia and the Middle East is escalating, as firms look for a base from which to tap the growth of Asia. Currently, around 310 Middle East companies are registered in the country, higher than...
Continue Reading • 4 May 2010
Ying Li issues earnings warning for its H1 performance
Mainboard-listed property developer Ying Li International Real Estate has issued a profit warning for its performance for the first half of the year ending June 30.The firm said that it expects an increase on its expenses after issuing convertible bonds worth S$200 million.The residential and...
Continue Reading • 4 May 2010