Singapore Land, a property developer and landlord that reported a gain in quarterly profit, said that the market for office space is expected to be “weak” as new buildings are completed in the city-state. “The office market is expected to be weak in view of the significant new supply,” the company said today in a statement, announcing a 41% gain in profit for the three months to Sept. 30 of $56.3...
2009
Singapore's Ministry of National Development on Friday announced its biggest half-yearly land sales programme for the first half of 2010 since the reserve list system was started in H2 2001. This follows very strong demand for private homes seen in the past eight months. This will ensure there will be enough supply to meet demand, Urban Redevelopment Authority's senior group director, land sales and...
Niche property developer Hiap Hoe Limited has reported that its net earnings for the third quarter ended 30 September 2009 (3Q09) surged more than 13 times to $8.5 million or 2.24 cents per share, from $0.7 million or 0.20 cents per share reported in the corresponding period a year ago (3Q08). The rise in net profit was achieved on revenue of $36.7 million, which represents a growth of 663.0%, and has...
Senior Minister Goh Chok Tong said Singapore needs to be one of the most liveable cities - not just in Asia, but globally - and one that goes beyond being clean, green and safe. Mr Goh shared this new vision of Singapore over the next 25 years at the 50th anniversary of the Real Estate Developers' Association of Singapore (REDAS) on Thursday. Singapore has come a long way. But as other new cities erode...
Location: 52 Stevens Road (District 10) Tenure: Freehold Year of Completion: 2013 Site Area: 10,682 sqft Total Units: 20 (1 block of 5 storeys + attic) Facilities: Lap Pool, Hot Jacuzzi, BBQ Area, Pool Deck Property Features: Near Prestigious Schools Walking Distance to Stevens MRT Excellent Access To City & Orchard via PIE/Bukit Timah Road Unit Types: 1 bedroom ~ 420 / 474 / 1001 sqft 1+study ~ 495 /...
The Urban Redevelopment Authority (URA) has received a top bid of S$251 million for a residential site at Upper Thomson Road. The bid was submitted by Treasure Well Investments and works out to about S$5,741 per square metre. The URA said it received a total six bids with the lowest one at S$135 million. Among the bidders of the site were Frasers Centrepoint and Sim Lian Land. The Upper Thomson Road...
Singapore-listed Parkway Life Real Estate Investment Trust has reported a third-quarter distribution per unit (DPU) of 1.91 cents, up 12.1 per cent from a year ago. Net property income for the three months ended September grew 23.3 per cent to S$15.4 million. Parkway Life said it saw continued growth in the third quarter as a result of increased rental income from its Japanese properties and an upward...
A new work group has been formed to study the joint development of an iconic economic project in Iskandar Malaysia. This is a follow-up to the discussions between the prime ministers of Malaysia and Singapore in May this year. They mooted the idea of a bilateral project in Iskandar Malaysia as a showcase of the commitment of both countries to build a strong, productive and enduring relationship. The...
SembCorp Marine is building a new 206-hectare yard facility in Tuas in three phases over the next 16 years. SembCorp Marine said on Wednesday the first phase will have ship repair and conversion facilities, and will have three-and-a-half times the capacity of the current yard at Pulau Samulun. The rig-builder expects the new yard to boost productivity by as much as 20 per cent from a reduced product...
Lippo-Mapletree Indonesia Retail Trust says it achieved a distributable income of $13.1 million for the quarter ended Sept 30, 2009 (3Q 2009), 23.1% below the distributable income of $17.0 million recorded in the quarter ended Sept 30, 2008 (3Q 2008). DPU for 3Q 2009 is 1.22 cents compared to 1.60 cents in 3Q 2008. Lippo-Mapletree says the lower distributable income year-on-year is due to lower specialty,...