The best place and time to buy
The global financial breakdown has hardly hit the real estate business all over the world.In some foreign nations, property prices have dropped aggressively due to the result of stiffer credit and the hardships being faced by some property owners servicing their mortgages. However, the downturn,...
Continue Reading • 13 Oct 2009
Opportunities for overseas land
Investing on overseas land has once been dominated by the rich, but this has already been stopped by landbanking companies.These firms purchase huge parcels of undeveloped land, which they believe to possess some development potential. A particular portion of the land is then kept for private...
Continue Reading • 13 Oct 2009
Industrial output plummets by a third
The Economic Development Board revealed the previous day that industrial output for the month of March dropped by one-third from the previous year. The fall went beyond the Bloomberg poll estimates of a 24 percent drop. On a seasonally adjusted basis, there was a 13.9 percent drop in the...
Continue Reading • 13 Oct 2009
Singapore introduces new scheme
The scheme called First Mover Advantage was introduced in Singapore to boost the development of advanced business ideas optimising the use of public parks, buildings, state land or other government properties.The said scheme is open to all people, including permanent residents, Singapore...
Continue Reading • 13 Oct 2009
Vacant office space
Property sector in Singapore continues to experience hard times, with the office market sharing the same predicament.Government data revealed that the segment plunged for two consecutive quarters. Meanwhile, as rentals and prices went slipping, the broader property market also took a hit.A drop...
Continue Reading • 13 Oct 2009
Raffles Place’s new features
Straits Trading Company’s flagship building will be the sole new building to be found within the Raffles Place for the current year.The 28-storey building, which was completed last November, will pose a dazzling faceted blue glass front. It will be positioned at 9 Battery Road.“The...
Continue Reading • 13 Oct 2009
Keppel Land to raise $712m
Despite concerns on the debt ratios, Keppel Land is generating $712m through a rights issue. This has surprised some despite several reports of a possible cash call this year, as rights issue prospects were allayed.Yesterday, Keppel Corporation’s property arm announced its plan to present a...
Continue Reading • 13 Oct 2009
CapitaLand profits dropped 83% in Q1
Yesterday, the property firm CapitaLand revealed a big fall in its Q1 earnings, and declared little chance for a fast turnaround with the present market conditions.The firm reported a net income decline of 82.7 percent to $42.9 million for the first quarter of 2009, indicating that income during...
Continue Reading • 13 Oct 2009
Two signals show volumes of condo prices
Based on the study conducted by DTZ, the Straits Times Index (STI) and the developers’ cumulative unsold inventory proved to be reliable indicators before major turning points for condo and private apartment prices in Singapore.It was observed that the STI had been the leader in the...
Continue Reading • 13 Oct 2009
Keppel Land’s net profit drops 39%
Weaker sales of homes have affected earnings of Keppel Land, resulting to 38.8 percent drop to $36.9 million in its net profit for Q1.Revenue was much affected, dropping 46.6 percent to $145.7 million.Overseas sales accounted for 25.5 percent of Keppel Land’s net profit in Q1, down by 28.7...
Continue Reading • 13 Oct 2009
CEO bonus – the talk of the town
Property firm CapitaLand is heading today to its annual general meeting in the inept situation of justifying the bonus amounting to $20.52 million that was paid to CEO Liew Mun Leong in 2007. The big bonus, which is believed as the biggest bonus ever paid to a CEO in one year, has instantly...
Continue Reading • 13 Oct 2009
Ascott Reit faces weaker demand
Ascott Residence Trust’s (Ascott Reit) distributable income for Q1 plummets to a 23 percent annual drop, from $14.2m to $10.8m, the group declared.This drop is 24 percent in terms of distribution per unit (DPU), from 2.33 cents in last year’s first quarter to 1.77 cents.Ascott Reit...
Continue Reading • 13 Oct 2009
Controversy on apartment sub-division
The Urban Redevelopment Authority (URA) said that while applications to sub-divide flats are being processed, it is followed by whether sub-division will diminish the amenities of other people settling there, like families, and change the character of a development.URA was reacting in The...
Continue Reading • 13 Oct 2009
Majority owners lose their appeal
The appeal made by majority owners of Regent Garden who opposed the collective sale of $34 million with Allgreen Properties was dismissed yesterday by the Court of Appeal.On 15 May 2008, the appeal was filed by 23 out of the 25 majority owners of the project, who expressed their distress about...
Continue Reading • 13 Oct 2009
Gradual rise of high-end property
The high-end of the property market seems to be slowly gaining interest from property seekers and starting to be discovered from its near non-existent degree.Many property investors are trying to return to the resale property market just to take the opportunity to avail of the classy flats at...
Continue Reading • 13 Oct 2009
Frasers launches new project in Edinburgh
Frasers’ generosity has reached the United Kingdom, with the launching of Fraser Suites Edinburgh, a serviced residence project on the “Royal Mile” of the city. The property is the second project of the Singapore-based Frasers in Scotland. The 100-unit Fraser Suites Glasgow was...
Continue Reading • 13 Oct 2009
Strong Sales of Private Homes Continue
The sales for new private homes remained strong for April. It was carried over from February and March 2009. According to developers, 1,207 units were sold for the current month, compared to 1,332 units in February and 1,220 units in March.The sales for the period January to April accounted for...
Continue Reading • 13 Oct 2009
SING Holdings Launches BelleRive
SING Holdings is launching its BelleRive, a 15-storey apartment tower, this weekend on Bukit Timah Road between Balmoral and Robin Roads.The said residential building has a total of 51 units – available in two and three-bedroom units ranging from 958 sq. ft. to 1,679 sq. ft.BelleRive also...
Continue Reading • 13 Oct 2009
Selangor State Property Arm Plans REIT Takeover
KUALA LUMPUR – Within the next six to twelve months, Selangor State Development Corporation (PKNS) is planning to take over a local real estate investment trust (REIT), in a decision to expand their business, according to The StarBiz.The tabloid newspaper also exposed that the REIT’s...
Continue Reading • 13 Oct 2009
REHDA: Ease rules on property service fees
In order to improve the Malaysian property sector, the Malaysian government has been asked by property developers to abolish the rules on legal service fees.In a statement made by the Real Estate and Housing Developers' Association Malaysia (Rehda), easing the rules will guide the domestic...
Continue Reading • 13 Oct 2009