Archive | November 2, 2007

Ah…. Finally…. Announcement From Jarene Chuang

Dear Subscribers, Due to overwhelming response, I’ve decided to include Powersearch Tool that will enable my buyers / sellers / tenants and landlords to check out the latest HDB, private and commercial properties for sale and for rent. Do check it out at http://www.sgpropertypress.wordpress.com ! Have a great weekend! Cherios, Jarene Chuang ERA Property Consultant […]

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Confirmed: Atrium @ Orchard for sale

THE Singapore Land Authority has confirmed a BT report yesterday that it plans to sell The Atrium @ Orchard – the first state sale of a Grade A prime commercial building. ‘The government does not own other commercial buildings of the same grade and category as The Atrium,’ an SLA spokeswoman said. ‘It is not […]

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Bravo buys Makeway View for $162.8m in en bloc sale

It plans to build about 70-80 loft apartments on the freehold site BRAVO Building Construction group, which bought Tulip Garden and Pender Court a few months back, has now clinched Makeway View in the Newton area for $162.8 million through a collective sale. The price works out to a land cost of $1,583 per square […]

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Citi in $220m move to Changi Business Park

New premises will house back-office operations; can take up to 4,000 staff SOARING rents downtown are pushing multinationals to house their back-office support operations away from central areas. And Citi is spending $220 million to consolidate its back-office operations at Changi Business Park – the first bank to do so at this location. Previously the […]

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Far East opening $8m outpatient clinic at Novena

Project expected to break even within a year FAR East Organization and a group of doctors are investing $8 million to set up a clinic called Novena Surgery, in response to what they say is an increasing need for outpatient surgery for Singaporeans and international patients. Lim Beng Hai, director and senior consultant hand surgeon […]

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Life after deferred payments starts with just 2 bids for site behind Icon

Developers could be turning cautious, say analysts (SINGAPORE) In a sign that developers are turning cautious after the withdrawal of the deferred payment scheme, a state tender for a 99-year residential site at Enggor Street behind the Icon development drew just two bids yesterday. The higher bid by Far East Organization was 55 per cent […]

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Sub-prime woes won’t deter S’pore: SM

Financial sector devt will continue here; Asia must press on (SINGAPORE) Singapore is not going to be deterred by the US sub-prime mortgage meltdown and will press on with developing its financial sector, Senior Minister Goh Chok Tong said yesterday. Asia was relatively untouched by the sub-prime crisis because it has yet to move into […]

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US rate cut seen buying Fed breathing space

(CHICAGO) The Federal Reserve’s decision on Wednesday to cut interest rates for a second consecutive meeting could buy policymakers a few months’ grace to watch incoming US economic data before deciding whether to move rates again. The Federal Open Market Committee, as expected, lowered its target for the federal funds rate to 4.5 per cent […]

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US rate cuts won’t defuse sub-prime mess: ‘Mr Yen’

Asia, though not much affected so far, must be vigilant (SINGAPORE) Interest rate cuts by the US Federal Reserve – which have amounted to 75 basis points since Sept 18 – are unlikely to defuse the US sub-prime mortgage crisis, according to the influential economist Eisuke Sakakibara. Mr Sakakibara, formerly Japan’s vice-minister for finance and […]

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Enggor St tender attracts only two bids

It is the first public tender to close since the deferred payment scheme was scrapped A WEAK response to the tender for a residential site in Enggor Street suggests market sentiment might have turned cautious, analysts say. The 99-year leasehold site at Tanjong Pagar had attracted only two bids by the time it closed yesterday, […]

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$730k view – 5-room HDB flat in Marine Parade sold for record sum

AN UNRENOVATED 32-year-old five-room flat in Marine Parade, on a high level with a full sea view, has been sold for $730,000 – a new record for an HDB flat. This trumps the previous record of $720,000, set in June by a fairly new five-roomer in Kim Tian Place. The buyer, who declined to be […]

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Credit crisis has lessons for Asia: SM Goh

Region can learn about risk and crisis management from recent US sub-prime turmoil ASIA has escaped relatively unscathed from the recent global credit crisis, as it has not yet developed newfangled complex financial instruments, said Senior Minister Goh Chok Tong yesterday. But Asia can glean some lessons about risk and crisis management from the recent […]

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