CHANGES TO EN BLOC RULES They could soon face higher hurdles under new rules aimed at more transparency (SINGAPORE) Ahead of proposed changes to the Land Titles (Strata) Act, property agents and owners of affected en bloc sites are eager to push pending sales as they may soon face bigger hurdles when the amendments become […]
Archive | August 29, 2007
Marina Bay IR to cost more than the US$2.4b Venetian Macao
Cost could jump by up to 40%, pushing price tag of S’pore resort beyond S$5b IN MACAU GAMING and resorts operator Las Vegas Sands’ newly opened US$2.4 billion Venetian Macao in the Chinese territory may be the biggest single structure in Asia, and it may be the second biggest building in the world. But its […]
Property stocks slip on fears over new rules
Investors worried over impact on land-banking; office market retains shine RESIDENTIAL property stocks took a beating yesterday as investors got the jitters over tougher en bloc legislation that could slow land-banking. City Developments slipped 40 cents or 2.6 per cent to $14.70, CapitaLand lost five cents or 0.7 per cent to $7.40 and Keppel Land […]
Greenback falls on weak US housing data
(TOKYO) The US dollar edged down against the yen in Asian trade yesterday as weak data renewed market vigilance over the troubled US home loan market, dealers said. They also said the euro was weaker against the greenback after European Central Bank (ECB) president Jean-Claude Trichet said overnight that the ECB was not pre-committed to […]
Home prices, consumer confidence tumble
LATEST US DATA (NEW YORK) Home prices fell by a record amount in the second quarter as sales fell and mortgage lenders made it tougher to get a loan. At the same time, Americans’ confidence in the economy also fell to its lowest since Hurricane Katrina two years ago. Home values dropped 3.2 per cent […]
URA to auction 12 Sembawang sites for landed homes
FOR the first time in six years, the Urban Redevelopment Authority is offering small sub-divided landed housing plots for sale. It will auction 12 on 99-year leasehold tenure at Sembawang Road/Andrews Avenue on Oct 30. The plots, in Phase 1 of a new landed housing estate called Sembawang Green, can be developed into a total […]
LaSalle makes top bid for Anson Road site
It offers $237.2m for a 99-year leasehold office plot next to International Plaza LASALLE Investment Management (LIM) was the top bidder yesterday for a 99-year leasehold commercial plot next to International Plaza, with a bid of $237.2 million or $941 psf of potential gross floor area. LIM, which bid on behalf of its LaSalle Asia […]
Bank stocks hit by sub-prime worries again
Attention also shifts to impact on their fee income (SINGAPORE) Banks here were hit yesterday by renewed concerns over their exposure to collateralised debt obligations or CDOs, after Goldman Sachs downgraded its stock ratings on DBS and OCBC, sending their share prices lower. But analysts BT spoke to said the main worry for now was […]
Tender for Anson Road site closed
THE tender for a 99-year-old office plot on Anson Road closed yesterday with local-based Firstoffice lodging the highest bid of $237.2 million. It outbid Mapletree Lighthouse Trust trustee VivoCity, which offered $201.7 million, and Winglow Investment, which bid $159.8 million. The Firstoffice price works out to $941 per sq ft per plot ratio (psf ppr), […]
Expected impact of US sub-prime woes on stock markets overblown
Real problem is lack of transparency by banks in dealing with the risk: UBS banker A TOP banker with one of Europe’s leading financial institutions was in Singapore this week with a message for investors still rattled over volatile markets: It’s not as bad as it looks. Zurich-based Dr Klaus Wellershoff, a member of UBS […]
Collective sale market seen slowing on proposed changes
New rules will address minority concerns over sale price, transparency THE property fever that has gripped Singapore for the past year will likely cool in the wake of proposed changes to rules on collective sales. The new rules – likely to apply in early October – will make collective sales a lengthier, more complex procedure, […]
Tender for Anson Road site closed
THE tender for a 99-year-old office plot on Anson Road closed yesterday with local-based Firstoffice lodging the highest bid of $237.2 million. It outbid Mapletree Lighthouse Trust trustee VivoCity, which offered $201.7 million, and Winglow Investment, which bid $159.8 million. The Firstoffice price works out to $941 per sq ft per plot ratio (psf ppr), […]
