Archive | August, 2008

One man’s panic is another’s bargain…

Business Times – 15 Aug 2008 CDL chief points to some good buys as panic-sellers offload, but he’s not alarmed (SINGAPORE) City Developments Ltd (CDL) executive chairman Kwek Leng Beng yesterday acknowledged that there have been some cases of high-end property buyers resorting to panicselling in the secondary market. These are people who’d bought their […]

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Just one bid for Tampines condo site

Straits Times Aug 13, 2008 THE property slowdown was clear for all to see yesterday when the tender for a condo site overlooking Bedok Reservoir closed with just one bid – and at a price well below expectations. The Urban Redevelopment Authority (URA) will likely refuse to award the 3.2ha site, given the poor offer, […]

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MTI expects a lingering slowdown, sluggish rebound

Business Times – 12 Aug 2008 Price fears ease but Q2 growth down to 2.1% on pharma swings and electronic weakness (SINGAPORE) Concern here over price pressures will likely take a back seat to growth risks in the months ahead, as global inflation looks to be peaking but no quick economic rebound is expected anytime […]

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State property at Changi on offer

Business Times – 12 Aug 2008 The parcel has a land area of 104,044 sq ft and GFA of 54,864 sq ft HOTEL operators can look forward to another state property to develop – this time at Changi. The Singapore Land Authority (SLA) yesterday launched the plot – part of a former military camp – […]

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S’pore Q2 GDP up 2%

Business Times – 11 Aug 2008 SINGAPORE – Singapore’s economy grew at the slowest pace in five years. The gross domestic product expanded 2.1 per cent in the second quarter, after growing 6.9 per cent in the first quarter. The Ministry of trade and Industry said on Monday the economy was hurt by a plunge […]

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All eyes on IRs now

Business Times – 09 Aug 2008 Apart from a surge in tourism, jobs and tax receipts, Singapore’s two integrated resorts could bring in new investors WITH expectations of a big boost to the economy, more buzz and the promise of thousands of jobs, it is no wonder we are all a little anxious to see […]

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Challenges for property sector

New engines drive Singapore’s property market but pitfalls remain THE Singapore property market has weathered the storm from the US sub-prime crisis, soaring oil prices and overall inflation, pretty well. Runaway increases in property values in the high-end residential and prime office sectors seen in the past couple of years, for instance, have started to […]

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From exuberance to caution

In just 12 months, Singapore has swung from Boom Town to seeing its slowest quarter in five years. ONE year ago, economic and business sentiment in Singapore was probably at an all-time high: The property market was on a roll, banks and finance houses went on a hiring spree, and the economy, flush with liquidity, […]

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Growth in office occupancy costs tapers off in Q2

Prime Raffles Place space up only 1.1% quarter on quarter: DTZ report GROWTH in office occupancy costs in Singapore has started to taper off after the meteoric rise last year, reflecting the increased resistance to higher occupancy costs, according to a new report. ‘Apart from Raffles Place, Shenton Way/ Robinson Road/Cecil Street and decentralised areas, […]

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