Singapore banks expected to have mild growth in Q3
Banks in Singapore will probably see some growth in their revenue in the coming results season in the third quarter. However, analysts said that it is expected that their net profits will remain flat because of the tight margins as well as the continued risk of the provisions of loan.Recently,...
Continue Reading • 13 Oct 2009
Proposals to improve the real estate industry
Some proposals are expected to be launched soon for the improvement of the real estate industry. Proposals include establishing a tribunal to deal with disputes and accrediting all real estate agents.Such proposals were made following a consultation between the Ministry of National Development...
Continue Reading • 13 Oct 2009
Tough recovery ahead after recession
The Singapore government says while the growth forecast of the country’s economy for the whole year hiked up aggressively after resurging for two quarters, the outlook for 2010 is a bit more subdued.According to the Monetary Authority of Singapore (MAS), though the global recession could...
Continue Reading • 13 Oct 2009
Economists predict an expansion for the Singapore economy
With the global recession getting better and with signs of regional recovery prompting policy makers to end the stimulus measures, it is believed that the Singapore economy has expanded for a second quarter.Based on the median estimate of 15 economists that Bloomberg News has surveyed, after the...
Continue Reading • 12 Oct 2009
Real estate boom amid recession
The latest data from the Urban Redevelopment Authority show that the volume of real estate sales in April reached 1,200 transactions following impressive sales records two months before. From January to April, 3,867 units were sold, which were equivalent to 90 percent of total sales in 2008 at...
Continue Reading • 12 Oct 2009
How recession transforms Singapore’s economy
GDP decreased by 10 percent in the first quarter and unemployment continues to increase since the fourth quarter of 2008. The Spur, Resilience Package (with Jobs Credit and the Special Risk Sharing Initiative as its key measures), and the go signal by the president to tap on past reserves have...
Continue Reading • 12 Oct 2009
STC leases office space in short-term
The Straits Trading Company (STC) is leasing office space at 18 Cross Street, China Square Central at $8 to $10 per square foot. The six-month lease at the Grade A office tower is aimed at companies in need of transitional office.Spanning across the 7th to 10th floors of the 15-storey building,...
Continue Reading • 12 Oct 2009
Sales of distressed property to surge
Singapore’s distressed property assets will possibly flood the markets in the succeeding two years, said Dr. Seek Ngee Huat, president of GIC Real Estate.In a public seminar conducted by the Institute of Real Estate of the National University of Singapore, Dr. Seek said a flood may emerge...
Continue Reading • 12 Oct 2009
Green building certifications up by 50%
More and more builders are joining the green movement, a trend that has prompted the government to expand its green certification scheme.This year, the Building and Construction Authority (BCA) issued 151 awards, up from 97 last year. The Green Mark certification scheme, which was introduced in...
Continue Reading • 12 Oct 2009
CDL gets the most BEL awards
A consistent Green Mark awardee, City Developments Ltd. (CDL) has solidified its reputation in the field of sustainable design by garnering the greatest number of awards conferred by the Building and Construction Authority (BCA) in 2009.Five residential properties of CDL received Green Mark...
Continue Reading • 12 Oct 2009
CapitaLand ran up BCA Awards
This year, CapitaLand won six Green Mark for Buildings Gold awards from the Building and Construction Authority, bringing the total number to 26 since 2006.The winning projects were The Wharf Residence, Six Battery Road, Sembawang Shopping Centre, The Integrated Civil, Cultural, Retail &...
Continue Reading • 12 Oct 2009
BCA conferred 151 green building awards
The Building and Construction Authority (BCA) bestowed 151 awards on sustainable design yesterday at an annual ceremony held at Suntec City.Grace Fu, Senior Minister of State for National Development said the figure was a manifestation of the efforts of the construction industry to improve...
Continue Reading • 12 Oct 2009
Keppel receives another five Green Mark awards
Keppel Land, the residential and commercial property arm of Keppel Group, received five Green Mark for Buildings awards from the Building and Construction Authority.The second phase of the Marina Bay Financial Centre won a Gold Plus award, while the Avenue Residences, Marina Bay Suites, Sixth...
Continue Reading • 12 Oct 2009
Kaki Bukit site awaiting tender
The Urban Redevelopment Authority (URA) announced yesterday the solicitation of bids for a 30-year leasehold industrial site in Kaki Bukit Road 2, near the Ruby Warehouse Complex, Kampong Ubi and Eunos Techpark.The low cost of capital involved and the land’s strategic location in...
Continue Reading • 12 Oct 2009
Building sector recommends two new growth areas
At the annual award ceremony of the Building and Construction Authority (BCA), Senior Minister of State for National Development and Education Grace Fu urged the construction industry to explore two new growth areas: complex civil engineering works and sustainable development.Fu believed that the...
Continue Reading • 12 Oct 2009
Mall owners embrace modern retail economy
The latest analyst survey of the Monetary Authority of Singapore (MAS) showed a positive sign for the Singapore economy in all its sectors, excluding hospitality and retail. The disappointing figures for retail were predicted to drop by 11.7 percent for Q3 compared to Q2. The figures were...
Continue Reading • 12 Oct 2009
Private home prices possibly rise
Prices of private homes across all sectors may possibly rise this year, but the high-end properties will remain in stagnancy until next year, said Kwek Leng Beng, the executive chairman of Hong Leong Group.Based on the Urban Redevelopment Authority data there were about 1,200 new private houses...
Continue Reading • 12 Oct 2009
Overly strict new REIT law in the Philippines
By early 2010, the Philippines should already have an official framework for joint property investment after the ratification of the country’s proposed new rules on the real estate investment trust (REIT), which was done at the start of the month of October, Yet, there are people who are...
Continue Reading • 12 Oct 2009
Ho Bee sells 36 units at Trilight
Out of 60 previewed flats last Friday, HO Bee Investment sold 36 flats at its Trilight condominium located at the highest point of Newton Road. The freehold development, which is a 30-storey building, has an average price of $1,650 per square foot (psf).The released condos are priced about...
Continue Reading • 12 Oct 2009
Money making schemes in home sales
Like luring a fish with worm bait, many developers are creating schemes to attract more investors in purchasing properties. Since investors buy properties to gain from them through renting, rental guarantees have been made for several properties. For instance, Far East Organization proposes...
Continue Reading • 12 Oct 2009