Bulk of bumper takings comes from sales to private sector for $3.55b THE government collected $6.3 billion selling state land during the year ended March 31, up from $5.5 billion in the preceding year – but still shy of the record $14 billion for the year ended March 31, 1998. The bulk of the latest […]
Archive | October 4, 2007
Stockbroker team eyeing more deals
David Loh, Han Seng Juan who won Kovan site may also rope in partners THE ‘David and Han Team’ of top stockbrokers that has been awarded a condo site in Kovan for $290.02 million, is looking at more property ventures in Singapore and the region across various sectors, including residential, office and hotels. The Kovan […]
Hertford Mansion, Holland Hill Lodge up for en bloc sale
HOME owners are going ahead with collective sales, with Colliers International marketing two new freehold sites. One site, Hertford Mansion, is located at Hertford Road/Bristol Road, near Farrer Park, and the indicative price for the 11,527-square-foot plot is $12 million or $744 per sq foot per plot ratio (psf ppr). The other site, Holland Hill […]
HORIZON TOWERS SAGA – Owners: missing pages are a minor defect
Judge Choo to deliver judgment on appeal next week (SINGAPORE) Yesterday’s penultimate Horizon Towers appeal session was a decidedly tamer affair. Still, Senior Counsel K Shanmugam of Allen & Gledhill (A&G), acting for the Hotel Properties consortium, was not spared heckling by majority owners seated in the public gallery when he sought permission from the […]
CapitaLand CEO targets one new Raffles City a year
The company also aims to manage 10 Reits eventually CAPITALAND group president and CEO Liew Mun Leong yesterday set the company the target of developing at least one new Raffles City every year. Mr Liew, who was briefing the media on the group’s plans for the Raffles City brand, said CapitaLand aims to have five […]
Banyan Tree to double global assets by 2010
It plans to move into Latin America, the Caribbean, Middle East, Mediterranean BANYAN Tree, a leading manager and developer of premium resorts, hotels, spas and galleries, is on an aggressive expansion push to more than double its global portfolio by 2010. Banyan Tree executive chairman Ho Kwon Ping said it is moving into new markets […]
M’sia’s Equine may list associate
(KUALA LUMPUR) Small Malaysian property developer Equine Capital Bhd may list a property development associate that has secured building rights over a US$5.8 billion new-city project in northern Penang state. ‘Listing (Abad Naluri Sdn Bhd) is just one of the options we are mulling today,’ Equine executive chairman Patrick Lim said yesterday. ‘We create value […]
UAE mortgage loans soar 97% in Q2
Value of outstanding borrowings at 45.7b dirhams as of end June (DUBAI) Mortgage lending in the United Arab Emirates increased an annual 97 per cent in the second quarter as foreigners bought property in the Gulf state. Outstanding loans to buy homes rose to 45.7 billion dirhams (S$18.4 billion) at the end of June, the […]
Credit crisis hits US high-end property
Until recently, this segment had defied the two-year broader market slide (GREENWICH, Connecticut) There’s an indoor lap pool, eight-car garage and four-storey elevator. But the 26,000 sq ft Tuscan-style home features something even more unusual in this ritzy suburb of gated estates and mansions – a US$3 million discount on its price. As the credit […]
Emerging-market gains replace US housing, mortgage woes
Investors flock to Asia and developing countries in wake of Fed’s recent rate cut (LONDON) The bursting of US housing and mortgage market bubbles has suddenly been replaced by emerging markets inflating, and world equities have got pumped up into the bargain. With the herd mentality of global investors ever sharper, the US Federal Reserve’s […]
Is the sub-prime crisis really behind us?
TOKYO CORRESPONDENT THE fact that the world – its richer countries at least – has been living through a bubble economy period financed by junk (sub-prime) mortgages and funny money (carry trade) borrowing should be obvious enough to anyone observing events over the past few weeks. But anyone who doubts it need only consider the startling […]
Wise not to ignore market risks
SINCE the US Federal Reserve’s somewhat surprising 50-basis points interest rate cut on Sept 18, investors all over the world have piled back into stocks with much gusto. Wall Street on Monday rose to a new all-time high while most Asian markets continue to set records of their own. The mood is once again bullish, […]
Land authority’s sales soar to nine-year high
It chalks up sales revenue of $6.3b on the back of red-hot property market; rental income rises a third THE booming property market sent sales revenue at the Singapore Land Authority (SLA) to a nine-year high of $6.3 billion. Its bumper result was still well shy of the record return achieved in the 1997 financial […]
CAPITALAND’S MOVES – China beckons for Raffles City brand
WITH three malls springing up in major Chinese cities, and up to three more likely in the next five years, China is a key market for CapitaLand’s plans to export its Raffles City shopping complex. CapitaLand president and chief executive officer Liew Mun Leong said yesterday that China offered the most opportunities for the property […]
Hostile end to Horizon Towers hearing
TENSIONS ran high at the already prickly Horizon Towers hearing yesterday, as lawyers fought over who would have the last word. The heated exchanges lasted less than an hour but they were more hostile than any of the previous day-long sessions since last Friday. They brought to a close the appeal over the estate’s bungled […]
New en bloc rules kick in today
Changes meant to make sale process more regulated and transparent NEW collective sale regulations will kick in today – a few weeks earlier than many in the industry had expected. The rules, which were passed in Parliament two weeks ago, were expected to take effect this month, but a date had not been specified. The […]
