AT first glance, you might not have thought an economic slowdown was in the wind, with 1,000 visitors thronging the sale launch of the Housing and Development Board's latest project at Bishan on Day One. Natura Loft, a Design, Build and Sell Scheme (DBSS) project, features three 40-storey blocks of 160 four-room flats and 320 five-room units. Describing the response as "enthusiastic", developer Qingjian...
November 2008
Prompt move aimed at helping sentiment in sagging market THE Government has put the brakes on its land sales programme, as the outlook for the local economy and the property market takes a turn for the worse. The Ministry of National Development on Friday said it would move most of the land sites on its confirmed list this year to the reserve list, and suspend its confirmed list of sites for sale in the...
Despite the economic slowdown, some 1,000 people checked out the showflat in Bishan under the Housing and Development Board's (HDB) Design, Build and Sell Scheme on Friday. Called Natura Loft, it is the fourth project under the scheme. A five-room unit costs up to S$739,000. It is priced at an average of S$525 per square foot, which makes it one of the most expensive units under the scheme so far. The...
The Singapore government has slashed the number of sites it is offering for sale in anticipation of falling demand due to the poor global economy. The Ministry of National Development (MND) has said no sites will be released under the confirmed list in the first half of 2009. And it has cut down the remaining sites for sale for the rest of 2008 from seven to just one. Five sites were moved to a reserve...
The National Development Ministry has announced changes to the Government Land Sales (GLS) programme for the rest of 2008. It said that while Singapore's fundamentals remain sound, the global economic uncertainties have affected the outlook for the country's economy and property market. There were three main changes. Firstly, most of the sites under the confirmed list are being transferred to the...
One of Singapore's oldest hotels has finally called it a day after 55 years. The New 7th Storey Hotel at Rochor Road is making way for the new Bugis MRT station. The new Bugis station is one of the six that make up the 4.3-kilometre Downtown Line One, which is scheduled to open in 2013. Authorities said demolition of the hotel is unavoidable due to engineering constraints. The owners spent some...
Southeast Asia's largest property developer CapitaLand posted a 26 per cent drop in third quarter net earnings over a year ago. Net profit came in at S$419.4 million due to lower sales. Revenue in the three months ended September also fell by some 33 per cent to S$597 million. For the year-to-date, net profit hit S$1.18 billion, down from S$2.08 billion in the same period last year. CapitaLand said it...