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Archive | November 29, 2007
More supply but HDB prices will go up: Mah
Board may offer another 6,000 units through build to order scheme (SINGAPORE) The Housing and Development Board will continue to monitor demand and could offer another 6,000 units through its build-to-order (BTO) system. However, prices are also likely to go up. Saying that he did not want to ‘fudge the issue’, National Development Minister Mah […]
Where high finance meets high living
The new downtown will boast a casino, a financial hub, condos and retail areas TIRED of Orchard Road? Jaded by Clarke Quay? Finding Robertson Walk just a trifle same-old, same-old? For the Singapore consumer – probably among the most avid in the world – Marina Bay may be the next big thing. The new downtown […]
Stamford Land in A$220m Sydney project
Site in The Rocks will have apartment tower, terrace homes, retail units SINGAPORE-LISTED Stamford Land, the hotel and property arm of shipping tycoon Ow Chio Kiat, is planning to build some of Australia’s most expensive homes on the site of two old demolished warehouses and a heritage building. Mr Ow bought the 99-year leasehold site […]
ING Real Estate plans second China fund
It is also looking to buy and privatise battered Reits in mature markets (HONG KONG) The world’s biggest property fund manager ING Real Estate plans a second China fund next year, worth about US$700 million, in response to growing enthusiasm for Asian property at a time when Western markets are suffering. With a global credit […]
Cheung Kong wins HK$7b MTR property project
(HONG KONG) Cheung Kong (Holdings), the property flagship of tycoon Li Ka-shing, has won a tender from Hong Kong subway operator MTR Corp Ltd to develop a residential project with an investment cost of HK$7 billion (S$1.29 billion). MTR said in a statement that it would sign a formal agreement with Cheung Kong for the […]
Wharf posts HK$3.12b Q3 profit
Earnings more than double on higher rental income from office and retail properties (HONG KONG) Wharf Holdings Ltd, the Hong Kong landlord and port operator that owns a pay-television company, more than doubled its third-quarter profit as rental income from office and retail properties rose. Net income for the three months ended Sept 30 rose to […]
Keppel Land to build 140 Viet waterfront villas
It forms 60-40 joint venture; project’s investment capital seen at US$55.2m KEPPEL Land will build 140 waterfront villa homes in Ho Chi Minh City, its eighth residential development in Vietnam this year. In a statement yesterday, Keppel Land said that it had formed a joint venture, through wholly owned subsidiary VN Investment Pte Ltd, with […]
Trouble looms for a third of UK mortgages
Self-employed and those who move house frequently open to risk (LONDON) Up to one in three or 5.5 million mortgage holders in Britain could face serious financial difficulties as a result of the US sub-prime crisis and the tougher lending climate it has created, a study showed. According to a report published by consumer research […]
Segro buys property worth £400m in H2
(LONDON) British property firm Segro plc cautioned about continued weakness in Britain’s property markets, but it bought £400 million (S$1.19 billion) of property in its second half as it took advantage of good buying opportunities. In a trading update yesterday, the firm said financial market turmoil was taking a toll on the UK property market, […]
Grim US housing outlook in 2008
(CHICAGO) US homebuilders said the housing market probably will weaken in 2008 as foreclosures rise and banks tighten lending standards. Demand has deteriorated in many markets, limiting the prospect of a rebound in new home sales, chief executive officers for D R Horton Inc and Beazer Homes USA Inc. said on Tuesday at a JPMorgan […]
US commercial real estate set to take a hit
Traders see bond defaults rising to the highest level since Great Depression (LONDON) In the bond market, commercial property investors are about as creditworthy as US homeowners with sub-prime mortgages. ‘Commercial real estate is a full-blown bubble that feels very much at a bursting point,’ said Christian Stracke, an analyst in London at CreditSights Inc, […]
COMMENTARY – Life can go on, with or without a home of your own
MARKETING manager Eva Chia accepted her boyfriend’s proposal in the middle of this year, but their joy was short- lived when the hunt for a marital home turned up nothing for months on end. Their combined income busted the ceiling for subsidised housing but they baulked at the prices of resale Housing Board (HDB) flats […]
More than 7,000 new flats expected over next 7 months
Over 1,000 flats in 2 projects launched yesterday; 6,000 more to come by next June NEWLY-WEDS need not worry about not having a new HDB roof over their heads. More than 7,000 new Housing Board flats will be offered for sale over the next seven months, as well as seven plots of land which could […]
US existing home sales fall to 8-year low
WASHINGTON – SALES of previously owned United States homes fell last month to the lowest level in at least eight years as loan restrictions and the prospect of further price declines deterred buyers. Purchases dropped 1.2 per cent, more than forecast, to an annual rate of 4.97 million, the lowest since record keeping began in […]
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