CapitaLand expects a weak financial output
In the annual general meeting of CapitaLand, chief executive Liew Mun Leong said that CapitaLand is expected to get a weaker financial performance this year as compared in 2008. However, the company’s property group, including its retail, residential and serviced residences division expects...
Continue Reading • 14 Oct 2009
The Fernhill urged payment from DPS buyer
Chinese investors that purchase 20 units of MCL Land's Fernhill condo had failed to pay the approximately $30 million, which became due when The Fernhill received the Temporary Occupation Permit.MCL Land sent out the notice 14 days ago, asking payment to its buyer the Concordia Overseas Pte Ltd....
Continue Reading • 14 Oct 2009
CapitaLand and Keppel Corp issues active
CapitaLand and Keppel Corp warrants are expected to become the centre of attention for investor this week, just ahead for the companies’ release of their Q1 earnings results.Keppel Corp announced the release of its Q1 earnings results on Thursday. Recently, it declared a $518 million...
Continue Reading • 14 Oct 2009
URA spread its wings
Singapore took 35 years of making a plan and shaping its physical landscape and now, the Urban Redevelopment Authority (URA) is well prepared for a bigger canvass.The URA Consulting Group (URACG) was put up in order to provide a planning expertise for the overseas projects. Meanwhile, in...
Continue Reading • 14 Oct 2009
Great deals to keep tenants
Commercial landlords in Singapore are now fighting just to keep their prized tenants. Some owners of buildings on Raffles Place say that they even offer single-figure rental rates.According to several industry sources, flats with below $10 per square foot lease are popping out on list to...
Continue Reading • 14 Oct 2009
Court dismisses developer’s 'Amanusa' appeal
An appeal of a developer, which named its Yio Chu Kang condo Amanusa, has been dismissed by the Court of Appeal. The name given is similar to that of Amanresorts-owned exclusive resort in Bali.The judgement, consisting of 124 pages, was delivered by Justice VK Rajah last month. It is considered...
Continue Reading • 14 Oct 2009
Property stocks soar but may end soon
Prices of private homes recorded their biggest plunge in Q1 this year, but this hasn’t stopped the surge of property stocks in the recent market rally.Most shares of local developers have increased by 20 percent at least from their lows in the previous month, with others – like Keppel...
Continue Reading • 14 Oct 2009
Double-digit drop in private home prices
Private home prices in Singapore plummeted by 13.8 percent in Q1 of the current year. This quarterly drop is a record as number of market players and developers trimmed down their expectations.Yesterday, Urban Redevelopment Authority (URA) released advance estimates showing that this drop in...
Continue Reading • 14 Oct 2009
No Housing Bubble in South Korea
In contrast to the assertion of Mr. Jasper Kim about the forthcoming Korean property bubble, Korea is not actually among those countries, as there is an increase in the prices of real estate.An increase in real-estate prices are taking place across Asian countries, with Hong Kong, having 20...
Continue Reading • 14 Oct 2009
Measure to prohibit ‘one agent for buyer and seller’
The Singapore government is considering an action to prohibit property agents from representing both the HDB flat’s buyer and seller in a similar transaction.Such a decision aims to get the affirmation of sellers and home buyers. However, some agents are expected to disagree with the idea...
Continue Reading • 14 Oct 2009
Sudden turn-around in private home sales
While homes sales is presently booming since the second quarter of the year, analyst supposes that private home sales prices will rise again, a gyrate from recent predictions that in 2010, prices will be continuously decline. In the midst of the gained confidence, recommendations from...
Continue Reading • 13 Oct 2009
Orchard Road ground-level shops hindered
Despite the continuous decline in retail sales and with new supply carrying out soon, Orchard Road retail rents are still rising. However, Cushman and Wakefield stated that advantageous retailers coming in the last phases of negotiations for the remaining limited preference in the new...
Continue Reading • 13 Oct 2009
CapLand Meets Property Valuers
Sources recently told BT that CapitaLand has met with property valuers to talk about the valuation process. CapitaLand is Singapore’s biggest developer in terms of market capitalisation.Liew Mun Leong, CapitaLand chief executive, chaired the meeting. Present at the meeting were CapitaLand...
Continue Reading • 13 Oct 2009
Singaporean 'sky gardens' set to blossom
More 'sky gardens’ are expected to rise in Singapore, especially on areas like Raffles Place, Orchard Road and along Singapore River.The Urban Redevelopment Authority (URA) launched yesterday the rooftop landscaping programme for new developments in several areas of Singapore starting...
Continue Reading • 13 Oct 2009
$8m boost in rooftop landscaping project
An $8 million scheme for three years was announced yesterday by the National Parks Board (NParks) to co-fund a rooftop landscaping project around the city.Also, the landscaping for urban spaces and high-rises (Lush) programme was introduced by the Urban Redevelopment Authority (URA) to help...
Continue Reading • 13 Oct 2009
UOL rejects planned increase of funds
The need to raise money is not a current requirement for UOL Group, though it is likely to weigh up a rights issue if it will need money for assets acquisition, said chairman Wee Cho Yaw the previous day at the 46th annual general meeting of the property company.Several shareholders, who asked...
Continue Reading • 13 Oct 2009
Suntec REIT secures new loan facility
Recently, a loan facility amounting to $825 million was secured by Suntec REIT. With this new loan, the retail and office trust will ho longer need further refinancing up to 2011.The said loan, which will be utilised to refinance the existing debts of the company, comprises a seven-year...
Continue Reading • 13 Oct 2009
Singapore – most liveable city in Asia
Rising six places in a worldwide ranking of cities with the most outstanding quality of living, Singapore had surpassed cities like San Francisco and Honolulu in the US and Paris in France. Ranking in the 26th place, Singapore also exceeded all its Asian neighbour countries, thus making it the...
Continue Reading • 13 Oct 2009
Singapore cheap stocks unsuccessful to pull buyers
According to the asset manager Henderson Global Investors, the currents stocks in Singapore are cheap but any forms of aggressive purchasing of property firms in Singapore might not be sustained.Henderson Global Investors said that mainland China and Hong Kong are the best bets of the regions for...
Continue Reading • 13 Oct 2009
Developers and valuers meet for common ground
Last week in Singapore, property developers met with valuers amidst some quarters’ complaints about conservative ratings, which blocked a number of property transactions because possible home buyers could not procure the needed loans from the banks.The valuers’ decision to disagree...
Continue Reading • 13 Oct 2009