Head of property developer SC Global still bullish on the local real estate market JUDGING from recent transactions, property prices appear to have hit or are near the floor, according to Mr Simon Cheong, the president of the Real Estate Developers’ Association of Singapore (Redas). As evidence, Mr Cheong, the head of high-end property developer SC Global, points to recent transactions of luxury...
July 2008
Continued weakness comes amid caution caused by inflation and bleak outlook RECENT developments in the local property market have sent conflicting signals to investors. Several developers have indicated willingness to delay launches as residential property prices show signs of weakness, while others are pointing to still-strong demand. Meanwhile, market data from the Urban Redevelopment Authority (URA)...
3 new malls, 5 million sq ft SHOPAHOLICS can look forward to a fresh injection of 5 million sq ft of new retail space by the end of next year, according to Knight Frank’s calculations. By then, at least three big new malls are projected to be ready to welcome shoppers: West Coast Plaza, Illuma and ION Orchard. However, while customers rejoice over larger and more novel malls, will retailers and...
Frasers Centrepoint, a unit of Fraser and Neave, says it's buying 18 percent of Allco REIT and all of Allco Singapore, which manages the trust. The deal is valued at S$180 million. Frasers Centrepoint will rename Allco REIT to Frasers Commercial Trust when the transaction is completed. Under the deal, Frasers Centrepoint will buy about 126 million shares in Allco REIT for 83 Singapore cents a share, a...
Property analysts say prices are likely to fall further in the third quarter, but experts rule out massive declines because of the multiplier effect from Singapore’s two multi-billion-dollar integrated resorts (IR) now under construction. Housing demand is expected to pick up when the first IR in Marina Bay opens next year employing thousands of workers, said Mr Chua Yang Liang, Jones Lang LaSalle’s...
Singapore’s booming residential property sector is finally showing signs of cooling but projects including the two integrated resorts developments should underpin long-term prices, analysts say. The market was described by real estate giant Jones Lang LaSalle as the world’s hottest in 2007, when the city-state’s property prices surged 31 per cent overall. But this year the sector has not escaped...
Inspired lesisurely living. D10 location, freehold. Enticingly near Orchard. Abundant greenery. Lovely unobstructed views. SIGNATURE AT LEWIS - EVERYTHING A PREMIER ADDRESS SHOULD BE Location : 1 Lewis Road (District 10) Tenure : Freehold Year of Completion : 2011 Total Units : 32 (1 block, 12- storeys) Unit Types : 1 BR 2 BR 4 BR 4 BR Penthouse + Pte Pool 4 BR Penthouse + Pte Pool Location Map...
Positive consumer sentiment and the Great Singapore Sale have provided some support for the retail property market in Singapore, according to property consultants DTZ. It said given the general uncertain global outlook, tenants have resisted committing to higher rents, and this has kept the retail sector stable during the second quarter. Going forward, analysts said they see at most a marginal increase...
Frasers Hospitality - the property arm of mainboard-listed Fraser & Neave - is planning to grow its presence in the emerging markets of China, India and Vietnam. Revealing this at a news briefing on Thursday, Frasers said it plans to add about 5,000 serviced apartment units to its portfolio over the next two years. It is scheduled to open 10 new properties this year, and another 25 over 2009 and...
Construction not putting tenants off Sentosa Cove is slowly, but surely, attracting high-end tenants with the completion of an estimated 300 homes, including the 200-unit The Berth by the Cove condominium. Despite ugly construction sites dotting many parts of Sentosa, the first luxury condo units and landed properties have drawn rents comparable to, if not higher than those in prime districts on the...