Few dare assume that the worst is really behind us FINANCIAL markets have come back from the brink after last week, thanks to the Fed’s deft move to stave off a meltdown in global financial markets. But only the very brave dare believe the worst is now over. When massive injections of short-term liquidity into […]
Archive | August 22, 2007
Capital One to close residential mortgage business
(NEW YORK) In yet another casualty of the fallout in the mortgage industry, Capital One Financial Corp said on Monday that it would stop making residential mortgages and close GreenPoint Mortgage, its wholesale mortgage banking unit. As part of this decision, about 1,900 employees will be laid off, most of them by the end of […]
Freehold site at Wilkie Terrace up for sale
A FREEHOLD site on Wilkie Terrace in the vicinity of Mount Sophia has been put on the market. The site belongs to a family-owned investment company, and thus, unlike an en-bloc sale, the sale of the property is not dependent on a Strata Titles Board’s order of sale. The buyer will have vacant possession on […]
Three Sentosa bungalow plots released for sale
New benchmark price of $1,233 psf set for a waterway bungalow site SENTOSA Cove Pte Ltd (SCPL) yesterday released another three 99-year leasehold bungalow plots for sale, after reporting new benchmarks being set for waterway and fairway facing plots in the upscale locale. After the latest offer, the only sites the master developer will have […]
KepLand plans to launch Vietnam condo in Q4
Ho Chi Minh City joint project with 1,500 units could fetch $185-215 psf KEPPEL Land will launch its high-end condominium The Estella in Ho Chi Minh City, Vietnam. The project will have about 1,500 units with a potential gross floor area of 280,000 sq m. The sales launch of the first phase is planned for […]
Mayer Mansion owners win appeal case
They will also keep the $3m deposit paid by Travista (SINGAPORE) Owners of Mayer Mansion on Devonshire Road have won their case in the Court of Appeal against a company that sued them for cancelling a $30 million collective sale. The owners of the 10-unit property will also get to keep the $3 million deposit […]
New peg next year for key CPF interest rate
Interest on Special, Medisave, Retirement accounts to be tied to long-term bond yield (SINGAPORE) The buzz that has surrounded changes in the CPF scheme was given a new direction yesterday, when Manpower Minister Ng Eng Hen highlighted a significant move in the offing. The interest rate on savings in the CPF Special, Medisave and Retirement […]
HDB upgrading: more groups will benefit
Subsidised optional improvements will cheer sandwich class (SINGAPORE) The Housing and Development Board (HDB) has released details of two new upgrading programmes which are seen as benefiting a broad spectrum of Singaporeans, including the middle class. The two new programmes, which Prime Minister Lee Hsien Loong mentioned during his National Day Rally speech, are the […]
KepLand obtains licence for condo project in Vietnam
It will invest $27m in joint venture, start selling The Estella in the next quarter HANOI – KEPPEL Land (KepLand) has received the official go-ahead – in, what observers say, is double-quick time – for the development of its latest residential project in Vietnam’s booming property market. The Estella is a 1,500-unit condominium in a […]
MAS paving way for banks to buy mortgage insurance
Regulator not saying when new rules take effect but bankers say it could be ‘quite soon’ THE Government is drafting new rules to pave the way for banks in Singapore to take up mortgage insurance for the first time. Such insurance protects banks from the risk of borrowers defaulting on their mortgages, which make up […]
Residents look forward to ‘Punggol 21-plus’
They hope new plans for estate will materialise fast; HDB says more details to be revealed soon PLANS announced by Prime Minister Lee Hsien Loong for Punggol 21 have revived residents’ hopes for more amenities and infrastructure to be built in their growing estate. Mr Lee said in his National Day Rally speech on Sunday […]
