Prices for the 58-unit development in Cairnhill have not been fixed yet HAYDEN Properties has clinched the rights to build the first Ritz-Carlton Residences in Asia, after pursuing the luxury brand for months. Hayden director Ong Chih Ching said that negotiations between the two parties stretched over nine months, with over 600 e-mails sent. Speaking […]
Archive | September 4, 2007
Mapletree fund acquires 2 industrial properties
MAPLETREE Industrial Fund Ltd is acquiring a factory building in Tech Park Crescent for $12.48 million, and has also bought a light industrial building at 19 Tai Seng Drive for $12.5 million. In a statement, the company said it has signed a sale-and-leaseback agreement with Centillion Environment and Recycling for the three-storey Teck Park property. […]
Property stocks sink on news of higher DC charges
Higher development costs likely to cool en bloc fever PROPERTY stocks fell yesterday after Friday’s news that the government will increase development charge (DC) charges as much as 112 per cent. Analysts said the revised DC rates will push up costs and also discourage developers from paying ever-increasing prices for collective sale sites. The Singapore […]
Apollo Centre up for sale for over $200m
Price tag amounts to $1,345 psf of net lettable area APOLLO Centre, a commercial building in Havelock Road, is for sale for more than $200 million, the property firm marketing it said yesterday. The 99-year leasehold property is being sold by Singapore-listed Apollo Enterprises. And since the sale was announced, there have been many enquiries […]
Aussie home-building approvals rise sharply
Unexpected increase attributed to rising employment, wages and immigration (SYDNEY) Australia’s home-building approvals unexpectedly increased to a five-month high in July as rising employment, wages and immigration encouraged investment in property. The number of approvals to build or renovate houses and apartments advanced 0.4 per cent from June to 12,980 the Bureau of Statistics said […]
Pan Hong sues land owner for non-completion of sale
Non-completion has significant impact on Chinese developer’s financial numbers CHINESE property developer Pan Hong Group is suing a company which owns four parcels of land in Beihai City, Guangxi province, for not completing a deal to sell. The non-completion of the deal has a significant impact on the Singapore-listed company’s financial numbers as the group […]
Plaza Centers to invest 50b rupees in India
Israeli group will build entertainment, commercial centres (MUMBAI) Israeli-owned property company Plaza Centers said yesterday that it would invest 50 billion rupees (S$1.87 billion) over the next 5-7 years to build entertainment and commercial centres in fast-growing India. Plaza Centers, a subsidiary of Elbit Medical Imaging Ltd, will build 50 malls and multiplexes in Indian […]
Indian developers eye mass market as prices fall
Property stocks depressed on worries about housing market (MUMBAI/HONG KONG) After a two-year surge, home prices in India have dropped as much as 20 per cent because even the most upwardly mobile tech graduates can no longer afford to buy, forcing developers to consider building for the poorer masses. ‘We’re at a point where growth […]
Sub-prime market is thriving in India
Estimated US$10-11b market for unsecured credit growing at 25-30% (NEW DELHI) Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business – nearly half of which is a sub-prime market, says […]
Sub-prime rout less severe than in ’98: BIS
Swiss body’s view contrasts with grim outlook of S&P (BASEL, Switzerland) The market fallout from the sub-prime mortgage slump is less severe than in 1998 after Russia’s default and the collapse of Long-Term Capital Management (LTCM), the Bank for International Settlements said. The assessment from the BIS, which monitors financial markets for central banks and […]
Ritz-Carlton Residences in Singapore a first in Asia
Premier hotel brand will build 58 high-end homes in Cairnhill on former Horizon View site WELL-HEELED fans of the Ritz-Carlton’s luxury accommodation will soon be able to buy homes in Singapore that come stamped with the five-star hotel brand. Asia’s first Ritz-Carlton Residences will be launched for sale in Singapore late next month, with 56 […]
How far will the Fed chief go?
In a speech last Friday, US Federal Reserve chairman Ben Bernanke gave his first detailed analysis of the turmoil in financial markets and what actions the Fed could take. Ann Williams summarises what he spoke on. The sub-prime crisis and the fallout MR BERNANKE begins by explaining why the sub-prime crisis happened and admits that […]
